My Honest Riobet Review (Tested With A Real Deposit)

Riobet is one of the oldest crypto-friendly casinos established back in 2014. I was quite surprised to see that the brand is still alive and that it has more than 500 players online at any given time.

Today I will try to understand what the secret of its longevity is and what services a casino built almost a decade ago can offer to players in these modern times. In order to write this Riobet review, I will deposit funds, wager out the welcome free spins offer, talk to customer support, and request a withdrawal.

✔️ Is Riobet legit? (5/5)

Riobet is operating in the market with a license from Curacao. This fact adds some credibility to the casino, but you need to know that Curacao’s licenses are among the easiest to get and do not offer large player protections. You can still try to reach the gambling commission out, but it would be really hard to convince them if any unpleasant situation takes place with a Curacao-licensed casino.

That’s why you don’t need to rely much on the license, but you need to make your own research before dealing with a Curacao-licensed casino. In the specific case of Riobet, I was not able to find any reasonable problems or accusations from other players.

Some players reported that withdrawal times might be slightly delayed from time to time. But otherwise, there are no particular cases that are worth mentioning here.

This section of Riobet’s review deserves the maximum rating from me. Don’t forget that the casino has been operating for more than 8 years on the market, so the absence of serious negative feedback is a phenomenal achievement.

🎲 Games and providers (5/5)

The arsenal of games at Riobet is impressive both for slots and live casino players. When it comes to slot titles, there are more than 50 software developers presented, including all the popular industry leaders: NetEnt, Quickspin, Play’n Go, Pragmatic Play, and GameArt, among the others.

The live casino lobby is not that massive, but this is a typical situation, as there are not that many game providers working with live dealer games in general. Riobet offers live tables from Evolution, Ezugi, Pragmatic Play, Luckystreak, and Authentic Gaming.

This section of Riobet’s review receives five out of five points from me. The selection of games is complete and suitable for every type of player.

🎰 Slots RTP (5/5)

You can find a lot of information in the infobox that can be opened for every game published on the website. Besides the Return to Player rate, you can check the volatility, biggest wins, and highest bet multipliers.

This is a nice example of how the RTP, and other useful information, should be presented on the casino’s website. It does not take a lot of effort to collect the needed data and make it visible for each game, but it adds a lot of transparency and trustworthiness to the casino.

I give this section of Riobet’s casino the maximum rating. Their RTP info implementation is ideal and extremely useful as well.

💰 Payment methods (3/5)

Riobet supports five different crypto assets: Bitcoin, Ethereum, Litecoin, Tron, and Tether. This should be enough for the average gambler, but some cryptocurrency enthusiasts might find this list too short.

The minimum deposit amount for Bitcoin is 0.001 BTC. You can also find the minimum value for all other supported coins from the deposit interface.

The minimum withdrawal amount is 0.002 BTC, twice as much as the minimum deposit value.

Their minimum deposit and withdrawal amounts are also listed in the T&Cs, but it looks like this information might contain errors. For example, the Bitcoin minimum withdrawal is provided incorrectly.

I have double-checked this information with customer support, and it looks like you should rely on the numbers given in the deposit interface.

The support agent promised to make a request to update the info in their T&Cs.

There is a 3x wagering requirement attached to every deposit. It means that the withdrawal option for any deposited amount would become available only after you wager it three times.

The casino does not charge any type of withdrawal fee, which is a great thing to hear.

You should also pay attention to the daily 1000 USD maximum withdrawal limit. These limits will be updated once you start to climb up in their VIP loyalty program.

I made my first deposit using Bitcoin and waited for my money to be credited to the balance.

The support agent told me that the transaction should receive 5 confirmations from the network before the coins could be displayed on my balance.

I decided to track the number of confirmations on the blockchain, and I realized that even after the transaction was confirmed 7 times the balance remained empty. I sent another message to the support agent, and he asked me to wait 30 minutes.

30 minutes later the money was still missing. This time, the support agent promised to create a request for the financial department.

I saw the BTC in my balance account 5 minutes after having that chat.

I decided to reach the support agent once again to get any sort of additional information regarding the delay, but he refused to share any info on that matter.

He said that he does not work in the financial department and that he is also not tech support, which basically means that he has no intention to continue the conversation.

This section of Riobet’s review gets three points out of five from me. I deduct one point due to the 3x wagering requirement that is attached to the deposit amount. I guess that nowadays it is impossible to find any casino that will not require any wagering at all, but 3x is too much. I would say that a 1x requirement is an industry-standard that should be followed.

I deduct another point for the deposit-related issue. I am not sure what payments provider Riobet is using for processing crypto deposits and withdrawals, but this is not working properly. It is nice when you get your withdrawal quickly, but it is also important to get your deposited amount credited fast. Otherwise, I would think twice before making another deposit to a casino that doesn’t allow me to start playing quickly.

🚀 Welcome bonuses (3/5)

There are two welcome bonuses that every Riobet newcomer can claim:

1. 15 free spins
2. 100% up to 1000 USD match bonus

Let’s start with free spins.

You can play your 15 free spins without making a first deposit, but you would not be able to withdraw anything before depositing funds and wagering the money won in free spins. The wagering requirement attached to the free spin bonus is 30x and it could be cleared only with a real money balance.

I was able to win $2.78 after playing my 15 free spins.

The money was credited to the bonus balance. The support agent confirmed that I now need to make a deposit and wager 2.78 x 30 = 83.4 USD to get the bonus money added to my real balance.

As I had to complete a 3x wagering requirement to enable the withdrawal option, there was no problem for me to wager 83 USD. After completing the requirements, the bonus was transferred to my balance in BTC equivalent.

Let’s now check the Terms and Conditions for the 100% 1^st deposit bonus.

What is important to note here is that the bonus amount should be wagered 35x times. The casino will only allow you to win a maximum of 5x the bonus amount, and that max bet is limited to $5 while clearing the bonus.

I decided not to claim the 1st deposit bonus. Here you can find the reason why. According to the math, in the long run, you will be losing more money in the process of wagering compared to the reward that you get.

Here is a simple example. Let’s say that you have deposited 100 USD and received 100 USD more as a bonus. Now you have 200 USD on your account, and you need to wager 100 x 35 = 3,500 USD to clear the bonus out.

The average RTP of slot games is 96%, which means that, on average, you will be losing 4% of your money while playing slots. After completing the wagering requirements, you will lose 3,500 USD x 4% = 140 USD. Remember, you started playing with 200 USD on your balance, including the bonus funds. Now you have 200 – 140 = 60 USD left. This is even less than your actual deposited amount.

While the math says that it is impossible to get any profit with this bonus, it can still happen that the “lady luck” will be on your side. There are many cases in which players were lucky enough to hit a massive multiplier, which allowed them to finish the wagering process with a profit.

But there are many other cases when players lost the whole balance trying to complete the wagering requirements. I prefer not to take these types of bonuses together with all the obligations and limitations that they bring. It is easier to gamble without a bonus at all and have full control over your funds.

I give this section of Riobet’s review three points out of five. While the 1st deposit bonus is hard to beat, the money won with free spins is really easy to wager out.

📢 Promotions (2/5)

The promotions on Riobet’s website are divided into two categories:

• Tournaments
• Loyalty program

Inside the tournaments tab, you will find different promos and races which are sponsored by game providers. These promos might be good if you like the particular game provider sponsoring that particular event.

The loyalty program consists of four levels: Guest, Classic, Gold, and VIP. You start as a guest and need to farm 100 CP to move to the next level.

You will get one Comp Point for every 20 USD made in bets with a real money balance.

It means that you need to wager 100 x 20 = 2000 USD to achieve the Classic level, 1000 x 20 = 20,000 USD for the Gold level and 10,000 x 20 = 200,000 USD to become a VIP player.

Higher levels also give you different perks such as a higher daily withdrawal limit, a better CP exchange rate, cashback, deposit bonuses, and birthday bonuses.

All the levels and features are well-described and you can clearly see what it takes to get to the higher levels and what kind of rewards you will get once you reach the next level.

In order to get the birthday bonus, you need to verify your account by sending the necessary documents. The birthday bonus has a 5x wagering requirement attached.

The cashback is credited on the first day of each month and this bonus has a 1x wagering requirement attached. While the cashback reward gives you a small compensation for your losses, it also includes lots of deductions. All the bonuses and CP exchanges will be excluded from the cashback, which creates a confrontation between the bonuses.

After placing around 1,000 USD in bets, I was able to collect 52 CP. This is not enough to move to the second level or to at least exchange the points for money. The minimum amount to exchange is 100 CP and you will get an option to exchange your points for a 5 USD reward only after wagering 2,000 USD and reaching the second level.

I give this section of Riobet’s review two points out of five. The loyalty program is easy to understand but unfortunately is not that profitable, especially before you will be able to wager 2,000 USD in bets. The cashback becomes available only on the third level, but all your other bonuses will be excluded from the cashback reward, which makes it less attractive.

🔎 KYC and anonymity (3/5)

Below you will see the list of restricted countries that are not accepted by Riobet. Make sure to check the actual list from the website’s Terms and Conditions before creating an account as there might be some changes.

Like all other Curacao-licensed casinos Riobet reserves a right to request a KYC verification check at any given time.

Be ready to send your documents once your requested withdrawals exceed 1,000 USD.

The support agent has also confirmed that the verification is usually not asked during the first withdrawal, but there is always a chance that it will be requested later on.

I give Riobet three points in this part of the review. This is a standard number of points that I usually give to KYC sections of licensed casinos in my reviews.

👨‍💻 Customer support (3/5)

The live chat agents were always online, but the quality of the support is not the best. It looks like the support agents are well trained to answer some simple questions according to the manual they have, but when it comes to an emergency situation, they don’t know how to act.

A good example is when I asked about my deposit, which was not credited after 5 confirmations. The support was just trying to get some time and did not provide any explanation after the situation was resolved.

This is not the type of answer that users should get. If you do not work at a financial department or are not a technical support agent, then your job is to find the responsible person and give a proper answer to the client. I deduct two points in this section of Riobet’s review for the unprofessional behavior.

⚡ Speed of withdrawals (5/5)

After playing for a while, I was able to win some extra money and requested a withdrawal back to my BTC wallet.

After sending a withdrawal request, the website shows a notification saying that the cashout will be processed between 5 minutes to 24 hours.

Here is the transaction history that I save for the record. As you can see, the request was made at 19:03.

One minute later the withdrawal was already released and became visible in my Bitcoin wallet.

This section of Riobet’s review deserves the maximum rating. The withdrawal was released instantly which is really great. It still looks like there is a manual verification in place and maybe my previous activity with live chat was the trigger to release the cashout asap, but in my case, the whole process was fast and smooth.

🌐 Is VPN allowed? (3/5)

The usage of VPN is not anyhow described in the casino’s Terms and Conditions. The customer support agent was also not able to give any certain answer regarding the legality of VPN in Riobet.

According to the live chat support, some game providers can restrict your access to the games. I am not sure whether it means that your winnings can also be confiscated or not. This uncertainty does not allow me to give more than three points in this section.

🏁 Final verdict (3.7/5)

Riobet is a decent cryptocurrency casino with almost a decade of experience in the gambling space. It has a nice game selection, and withdrawals are free of charge and fast. There is also a reasonable welcome free spin promo that is easy to clear.

I didn’t like the issue that I faced while making the deposit. It is a bad thing when players need to wait for that much for their deposit to be credited. I hope that my case was an exception, not the rule.

The loyalty program is clear and well-described, but it does not look attractive to climb through the levels, so this is another thing that could be improved. Overall, I enjoyed my time playing here and am glad that such industry mastodons still show a solid performance.