Cloudbet is one of the pioneers of crypto gambling. It has been offering its services to users since 2013. Cloudbet claims to be the best bitcoin casino, at least this is what their official Bitcointalk thread declares:
Their website title also states that they are the best crypto operator:
Cloudbet also promises to provide the easiest way to bet with BTC. At least, this is what is written on the website’s landing page:
Today we shall find out how true the statements made by Cloudbet are (spoiler: they are not). To compile this Cloudbet review I have made two deposits, I had several chats with customer service, and I studied all the rules of bonuses and promotions that this casino offers.
✔️ Is Cloudbet legit? (2/5)
Like most of the other cryptocurrency casinos, Cloudbet is working under the Curacao license. This is the basic license that allows operators to enter the regulated gambling market in the easiest and cheapest way. This license does not really protect players and it is only useful to partner up with the official game providers.
This casino does pay out the winnings. Additionally, it is a licensed platform. However, I can only give two points for the legitimacy section. I have a proof that Cloudbet is stealing money on withdrawals and lying to its customers regarding their shady cashout operations. I will provide more details regarding this matter in the Payments section of this review.
🎲 Games and providers (4/5)
Cloudbet offers slot games from 75 different game providers. This is a huge list, which includes all the popular slot titles:
We have the same story with the Live Casino lobby. There are five live dealer providers in the arsenal:
The casino has a huge list of slots and live table games, together with a comfortable-to-use lobby and game search.
Now, I will show you the first reason why Cloudbet is not the best casino for Bitcoin players. After making a first deposit with Bitcoin, I have opened a game and selected BTC as a currency for playing.
Here you see that the minimum bet for playing the slot is 40 uBTC. Let’s convert this amount to USD:
So, if you decide to play slot games using Bitcoin, then your minimum bet will be huge as hell. You can still convert your casino balance to fiat and choose to play slots in USD or EUR, but this is not what you expect to do when dealing with the best crypto casino, right?
I deduct one point here for the extremely high betting limits in slots for crypto users, so this section of the review gets four points out of five.
🎰 Slots RTP (5/5)
You can see all the details related to each slot game, including their RTP rate. I am not sure what the ‘wagering’ field means as it is not explained anywhere. But all the other information is pretty useful.
Cloudbet has several regular reload bonuses that have wagering requirements attached, so it is important to know the RTP of the games you play.
💰 Payment methods (1/5)
Cloudbet supports 12 crypto assets for deposits and withdrawals including Bitcoin, Ethereum, Bitcoin Cash, Tether, Litecoin, Dogecoin, and others.
Since Cloudbet claims to be the best Bitcoin casino, this will be the currency that I am going to use to make my deposit.
It is impossible to see any information regarding the withdrawal process before you make a deposit, so I decided to check with the support if there is any minimum withdrawal amount or withdrawal fees applied.
So, according to this statement, Cloudbet is not taking any additional withdrawal fees but is charging the fee according to the blockchain requirements. That sounds fair enough.
The support also told me that there is another requirement for the withdrawal: you need to wager your deposit one time.
After this I made my 200 USD deposit in BTC equivalent:
It was confirmed by the network and it became visible on the balance:
Right after I made the deposit, the withdrawal page appeared on the site showing me this information:
The network fee is 0.0005424 BTC which is 25 USD at the time of writing. This fact absolutely goes against the information provided by the support agent, so I decided to ask for clarifications:
So this answer states that the 0.0005424 BTC fee will be used by Cloudbet once they will send me the cashout.
Here is the moment when I requested my withdrawal.
The system did not allow me to request more than 0.00318602 BTC, because it automatically deducts the above-mentioned fee.
Once the payment was processed, Cloudbet posted a link to check the transaction hash. There I could see all the information connected to this payment. The thing I wanted to check was the fee paid by this transaction.
As you can see, Cloudbet sent this transaction with a 0.00000715 BTC (0.34 USD) fee. So, once again, I had to contact the support for clarification.
I mentioned again that the withdrawal was sent not with the fee that Cloudbet deducted from me.
So here is what happened:
- The Cloudbet support agent stated that they do not deduct any transaction fees on withdrawals and that only blockchain fees would be deducted.
- Cloudbet deducted a 0.0005424 BTC (25.84 USD) fee on my withdrawal
- Cloudbet sent me the transaction with a 0.00000715 BTC (0.34 USD) fee
- Cloudbet has literally stolen 25.50 USD from my balance
In my point of view, this action can be considered a scam. That’s why I deducted points in the first section of this Cloudbet review. I also give this section only one point for the wide selection of crypto assets, but everything else is operated in a really wrong way.
This is also the second reason why Cloudbet has no right to name itself as the best casino for BTC players. If you decide to play here using Bitcoin, you will pay a huge transaction fee on each withdrawal.
🚀 Welcome bonuses (2/5)
Cloudbet is offering a 100% match bonus of up to 5 BTC. However, the bonus works in a different way than on the other match bonus casinos. You will not be credited with any bonus funds right after the deposit. Your bonus money will be released in portions while you play, so basically you will be getting rakeback. To release the bonus to your real money account you need to collect welcome bonus points.
Here is the formula to calculate the casino welcome bonus points: converted stake x 0.008 x (100-RTP)
The portions of the bonus you get have no wagering requirements and are withdrawable.
The converted stake term has no explanation, so I decided to ask the support about it:
So, the converted stake is calculated according to the loyalty points I get while playing. An exact number of loyalty points cannot be given, as this is calculated by computer algorithms. Ok, so it looks like you cannot evaluate how much you need to wager to release the bonus and it is impossible to understand what percentage of rakeback you will get.
Basically, the only chance to know this information is to actually start clearing the bonus yourself. But here is another surprise and the third reason why Cloudbet is not a Bitcoin-friendly casino. You need to deposit 0.01 BTC in order to get the welcome bonus.
At the time of writing 0.01 BTC is 470 USD. You can get the same bonus by depositing 0.01 BCH (6 USD), 0.01 ETH (31 USD) or 0.01 LTC (1.70 USD). But you need to make a 470 USD deposit to get this welcome bonus if you play with BTC.
Cloudbet – the number one Bitcoin gambling site sounds like a huge irony right now.
So, it turned out that my 200 USD deposit was not enough to receive the bonus. I asked the support team if there was anything that could be done in order to receive this bonus now, but the answer was negative.
To make this Cloudbet review as detailed as possible I really wanted to test out the welcome offer. There is no way to know how this welcome offer works other than by receiving the bonus and trying to place real money bets. After receiving my Bitcoin withdrawal, I have created another account and deposited 0.01 ETH to test out the welcome bonus.
NB! Creating multi-accounts is against the rules of any casino. Since I am not going to continue playing in this platform I don’t care if both of my accounts will be locked. Don’t try to create several accounts for any sort of bonus abuse. Most likely you will be banned, and your funds will be confiscated.
After my second deposit, the bonus was activated and I was able to see the bonus clearing scale. I have to collect 150 loyalty points to release 0.01 ETH:
I have started to place bets in a 96% RTP slot. The first point towards the bonus clearing was received after I wagered around 40 USD.
In order to collect 150 welcome points playing a 96% RTP slot, you need to wager 40 x 150 = 6,000 USD
In dollars, a 0.01 ETH reward is around 31 USD
Now we can calculate the rakeback percent: 31/6000 x 100% = 0.516%
So you will get around 0.5% of all money wagered back while clearing the bonus. We can also calculate the rakeback based on the house edge (this is how it is done on casinos like Duelbits).
After wagering 6000 USD on a 96% RTP slot the total house edge will be: 6000 x 4% = 240 USD
32/240 x 100% = 12.9%
Around 13% is paid back to you from the house edge.
If we compare that to the Duelbits offer, then they pay 37.5% of the house edge back.
I am not sure whether these calculations are correct for all other crypto assets accepted at Cloudbet or not. Every coin requires a different number of welcome points to release the portions of the bonus.
The welcome bonus section of the Cloudbet review gets two points out of five. While I do appreciate that the bonus is credited in real money without the need to wager it, the formula of the bonus is too complicated. It is impossible to estimate how profitable the bonus is before you start playing.
The discrimination of Bitcoin players is another issue that is unacceptable for a website calling itself to be the best Bitcoin casino.
📢 Promotions (0/5)
Cloudbet promotions are based on the loyalty program, but you will not get any cash rewards by proceeding through the levels. All you will get are deposit bonuses that will force you to make more deposits and lose more money.
There are three weekly bonuses you can get:
- Monday reload
- Tuesday free spins
- Thursday reload
The terms and conditions of the two reload bonuses are designed heavily against the players:
- You need to lose your deposit to start wagering towards the bonus
- Wagering will start counting only when your real deposit is lost
- There are two days for you to lose your deposit and start wagering
Here are the amounts of Monday and Thursday bonuses each loyalty tier could get:
Every bonus has different wagering requirements depending on the loyalty tier:
Let’s try to calculate how much money will be left after wagering the bonus. For this example, I am going to use 100 USD as a bonus amount and presume that we are playing on a 96% RTP slot.
Silver tier
- 50% bonus
- You will have to deposit: 200 USD
- Your bonus money: 100 USD
- 40x wagering
- You will lose: 40 x 100 x 4% = 160 USD
- Will be left on your balance: 100 – 160 = -60 USD
Gold tier
- 50% bonus
- You will have to deposit: 200 USD
- Your bonus money: 100 USD
- 30x wagering
- You will lose: 30 x 100 x 4% = 120 USD
- Will be left on your balance: 100 – 120 = -20 USD
Emerald tier
- 50% bonus
- You will have to deposit: 200 USD
- Your bonus money: 100 USD
- 20x wagering
- You will lose: 20 x 100 x 4% = 80 USD
- Will be left on your balance: 100 – 80 = 20 USD
Sapphire tier
- 100% bonus
- You will have to deposit: 100 USD
- Your bonus money: 100 USD
- 20x wagering
- You lose: 20 x 100 x 4% = 80 USD
- Will be left on your balance: 100 – 80 = 20 USD
Ruby tier
- 100% bonus
- You will have to deposit: 100 USD
- Your bonus money: 100 USD
- 20x wagering
- You will lose: 25 x 100 x 4% = 60 USD
- Will be left on your balance: 100 – 60 = 40 USD
As you can see, the 40x and 30x bonuses are unbeatable. In the long term, you will be losing 160 and 120 dollars respectively, having only 100 USD as starting balance.
20x and 15x bonuses may look ok at first, after clearing them you will still have some funds left on your balance. But don’t forget that according to the rules, the wagering towards the bonus starts when your real money balance is lost.
- On the Emerald level after depositing 200 USD, losing it all and clearing the bonus you will have 20 USD left.
- On the Sapphire level after depositing and losing 100 USD you will have 20 USD left.
- On the last Ruby level after depositing and losing 100 USD you will have 40 USD left.
These bonuses are acting as a sort of cashback after your whole initial deposit is lost. This ‘only bonus money counting towards the wagering’ rule makes it impossible to create a fair and profitable bonus.
The same bonus could be good without this rule if the wagering contribution started with real money bets. In this way, on the Emerald tier, your total balance for wagering would be 300 USD. After losing 80 USD you would have 220 USD left (with an initial 200 USD deposit).
But this is not the way chosen by Cloudbet, unfortunately.
Now, let’s check the weekly 20 free spins promotion. It has the same unbeatable conditions.
- Mathematically unprofitable 40x rollover
- Only bonus bets contributing
- You need to lose all your real money first
- You have only 1 day to lose your real money to start wagering the free spin winnings
This section gets zero points, as all the promotions are heavily designed against the players. The only goal of the Loyalty system and weekly offers is to grab more and more deposits from you and force you to lose it all.
If you were lucky to win anything with your real money while having the bonus activated, you will get no advantage of this bonus. It will get expired in one or two days and requires you to lose everything. If you won while playing with your real funds, you will have to cancel the bonus in order to request a withdrawal, which makes the offer unusable again.
🔎 KYC and anonymity (3/5)
According to support the KYC verification can be requested at any time. I was not asked to pass the KYC before my first withdrawal, but it seems that sooner or later you will have to proceed with this verification.
👨💻 Customer support (1/5)
The customer support is always online, but it has no willingness to actually help you. I have received irrelevant information regarding the fees and no clarification regarding the first deposit bonus. I give this section of the Cloudbet review only one point.
⚡ Speed of withdrawals (5/5)
After requesting a withdrawal it was processed in a few minutes and appeared on my wallet after the network confirmation.
🌐 Is VPN allowed? (5/5)
It also seems that you can use VPN with no issues. I was also using a VPN while testing the website and never experienced any problems.
🏁 Final verdict (2.8/5)
Cloudbet is one of the worst casinos for Bitcoin players out there. Their slot games are not settled right for betting with BTC, they charge a giant fee for withdrawing Bitcoin, and they require a huge deposit in BTC to get a welcome bonus.
Another problem is that the Cloudbet support is trying to make a fool out of their clients. I could accept all other issues related to casino management, but the lie is unacceptable. I also think that Cloudbet is stealing money on every withdrawal made in Bitcoin. I am not sure about other currencies though.
If you are looking for a good Bitcoin casino, then definitely stay away from Cloudbet and choose another reputable website.
Cloudbet Casino
Pros
- Instant withdrawals
Cons
- Huge withdrawal fees
- Greedy promotions
- Not Bitcoin-friendly
CloudBet was the first crypto casino I ever used, and for a lot of time the only crypto casino I used. My overall experience is that it is decent, not too good, and not too bad. I don’t use them these days at all (4 months till last use) since I use stake.com which I consider a much better alternative.
I mainly used BTC, LTC, and ETH to deposit my funds. I never had a problem with deposits, the funds were immediately always in my account as soon the required number of confirmations was reached for the respective coins. As far as the withdrawals were concerned it was hit and miss. Sometimes when I made a withdrawal it was very quick and the transaction was on the blockchain. Sometimes it would take hours for them to process it and register it on the blockchain. To be fair most of the time it was on the fast side but still significant enough that it could be annoying. Also sometimes they used really really low fees for the transaction itself while charging you a normal or even higher fee for the transaction on the blockchain. For me I faced this issue a lot of times with ETH. They would give the transaction an absurdly low gas fee and literally I have had times where the transaction was stuck for a full day. Also those days ETH used to be a very cheap coin and gas fees were very low.
I never got forced to do KYC at CloudBet which is a plus for me.
I mostly played blackjack and sometimes slots in the casino. It was good enough in my opinion. They do have a big selection of games but I haven’t tried anything else.
Now to the parts which I hate the most about Cloudbet. First their customer support, I think their support is absolutely miserable compared to any other casino I have used. If you have an issue most of the time you will be actually more confused after talking with them. If I had an issue with withdrawal like it was processed, they would say ‘It will be processed soon.’ Nothing of substance. Comparing this to stake.com I would get concrete answers like ‘we are having issues with our network’. I used a little bit of their sportsbook too and sometimes they didn’t even know how their own sportsbook rules worked. Those times I just had to put my faith in the bookmakers and hope the right decision was made.
They do offer a welcome bonus where they will keep releasing a certain amount of crypto if you keep wagering. I did deal with a decent amount of money but never got remotely close to getting any points to even withdraw my first portion of that. I am not sure if they have a VIP level or not, at least I didn’t get any benefit from it even if they had something like that.
Another additional thing that made me lose some respect for them is that you have to wager your deposit amount first before withdrawing. I once tried to withdraw my deposit before wagering, but it didn’t work and then I learned about this. Most of the time you are going to play with your deposit of course but sometimes you just want to take some funds out for different reasons. In my opinion, this is a scummy move. They will say it’s in their terms and conditions, but I think this should be in the deposit tab too. They know what they are doing.
So yeah my opinion is that Cloudbet is decent. They were one of the crypto casinos that started this industry and you have to respect that, but these days there are just better options.
Cloudbet has been active since 2013 which makes it one of the longest-running bitcoin casinos. This is a very important fact since I need to trust the casino and know that my money will be paid if I win. With Cloudbet I only have good feedback and can recommend it to you.
I use it on my smartphone and on my laptop, so this casino is also one of the most user-friendly ones. You can use it for betting on sports, play the usual casino games like roulette or blackjack and have a basically unlimited choice of other games.
You can also deposit in many different ways but I am using mainly Bitcoin since I use the casino to make gains in bitcoin. Since the rates are quite fair this worked out for me so far. Still, be careful about how much you bet 😉
So if you are looking for a well-established casino then you are right with Cloudbet!
Cloudbet is one of the oldest online casinos. Also one of the first in the adaptation and the use of bitcoin on its platform. That was primarily what attracted me and made me register with them. The registration process is fairly easy as it doesn’t take much time to open up an account with them. Cloudbet gives a welcome bonus on deposit upon registration and with a nice page layout, it is pretty easy to navigate through the platform and find whatever you are looking for.
It offers a wide variety of slot games to choose from. Literally, any game out there is on the website for you to choose from. It also offers live online games in its live games section. It’s available and supports both mobile and desktop devices so you could access the platform on the go with your mobile or at home on your desktop. The use of a VPN is also allowed.
It’s fairly easy to deposit and the waiting period for the withdrawal process of your winnings is surprisingly fast, easy, and with little hassle. I’ve also noticed the customer service isn’t the best and they could do with some improvements. They aren’t enthusiastic about helping out to solve customer issues and they show little patience and zeal. That needs to be looked at cause customer service is key to managing and running a good gambling platform. Aside from that, I think Cloudbet is a fairly good casino to play at.
I have been playing at Cloudbet for more than 7 years. I usually deposit Bitcoin, and sometimes XRP. The deposits are instant in the case of XRP and it takes 1 confirmation when it comes to bitcoin (so the bitcoin deposit speed depends on the blockchain network). They usually have all the games that I need when it comes to betting on CS:GO matches. Even offering better odds than most of the crypto betting sites. I can’t say the same about other sports tho.
I have never faced any problems with withdrawals. It does take some time tho. The average time is around 1 hour. I have withdrawn almost 3k USD worth of Ripple in a single day without any problem from their side. And my account isn’t even verified (no KYC till now, maybe due to the age of my account). Cloudbet may ask you for KYC, and I have heard of many incidents. But it won’t be an issue if you are legit and have no problem verifying your identity.
As for the bonuses, they aren’t the best. This experience may vary for new users but I get almost nothing as a bonus and I am not looking for it anyways. I trust Cloudbet, that’s the sole reason why I keep on betting there. I know if I hit big someday, then they will pay (I can’t say the same for other books).
I deposited 0.05 BTC to cloudbet a while back. I played around a bit for a couple of weeks and I won and lost some. Overall I was ahead by eighteen percent when I decided to stop and focus on other things, and that’s when my problems started. My withdrawal was withheld for no apparent reason whatsoever, and after I contacted support I was told they were investigating my bets for suspicious betting patterns, whatever that means. That was hard to take, but I persistently emailed and pressured them, and after a while, they kyc’ed me and released my funds back to me. However, that left a bad taste in my mouth. I might still use them in the future, but I doubt that, even though they offer some of the best odds and high limits when compared to other sportsbooks. Before going back I would like to see them be more open about kyc and a bit more transparent about issues when dealing with customers. Until now I still don’t know why my withdrawal was withheld.
I love betting so i came to know about cloudbet to be the best betting site. I haven’t seen a better site where you can bet on sports using bitcoin. Plus this one is the oldest sportsbook bitcoin site, Although they have casino and Esports but I usually use the sports betting section. Here you will find almost every sports like soccer, American football, basket ball, tennis, badminton, chess, cricket , ice hockey, handball and so on. There is hardy any sports which is not available on cloudbet to bet. Think of any sports and you will find it there. Also there is an entertainment section where currently you can bet on “Big brother brazil” 2022 winner and one more event like this.
Overall I am fully satisfied and happy with my experience with cloudbet but sometimes its load slowly. However, its needs faster internet to have a smoothless betting experience.