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Cloudbet Review 2020

Fiat currency and the internet was never a match made in heaven. Normally, purchasing something involves going through a payment processor or going through the rigmarole of entering in your credit card details and paying through the nose for transactions.

Cryptocurrency is changing the way we transact online, providing a frictionless way to interact and send value to anyone, anywhere at a low cost. One of the biggest beneficiaries of this change has been online casinos and bookmakers, which have been growing rapidly especially in light of the changes in our behaviour brought about by the Coronavirus pandemic.

Cloudbet is one of the world’s leading cryptocurrency casinos and bookmakers, offering better value odds than most fiat books.

Established in 2013, it is fully regulated with satisfied customers in over 100 countries and has some of the best welcome promotions in the industry.

3 Steps to Sign Up to Cloudbet 

1. Enter an Email Address: Click the ‘Join’ button in the top right of the homepage. Enter your name and email address into the form provided and confirm you are of legal gambling age. The system will automatically generate an email with a confirmation link. Sign up is also available via Google and Facebook.

2. Choose a Password: Once the confirmation email arrives click the link to confirm your account. Check your spam or junk folders in case the email doesn’t arrive right away. Make sure to enter a strong password that is at least 8 characters long, ideally a mix of characters and numbers.

3. Confirm Details and Preferred Currency: Once you have confirmed your details you’ll be required to choose a preferred cryptocurrency for your first deposit. Currently BTC, ETH and BCH are supported. Deposits are instant depending on the speed of the blockchain you selected. Once your deposit arrives in the Cloudbet eWallet you can begin playing immediately.

Pros & Cons

Pros

Lucrative promotions – especially at sign up
Instant, zero confirmation deposits – deposits take only 3 confirmations
Instant, off-chain bets
30+ live in-game markets
Automatic payouts – no need to wait hours to receive winnings
Highest maximum bets in the industry
Futures markets – place the bets now for future results like the winner of the next World Cup or Premier League season
Cold wallet custody - customers cryptocurrency is stored offline in a cold wallet, safe from hackers
Very competitive odds
2FA Security – two-factor security can be set up for industry-leading security
Parlay with up to 7 selections – parlay to multiply your winnings
Broad variety of casino games including dice, slots, blackjack, and roulette
Sportsbook with favourite games and teams
New cryptocurrencies being added
Fully licensed and regulated

Cons

Not available in all regions
No facility to deposit in fiat currency

Cloudbet Compared

Cloudbet is an industry-leading cryptocurrency casino and bookmaker with an established history and some of the best promotions around. However, if you want to try another platform or simply can’t find the game you want to play, there are several reputable alternatives worth checking out.

The History of Cloudbet

Cloudbet is a pioneer in the gaming industry and one of the first to incorporate cryptocurrency into its platform in 2013.

To give you some perspective, Bitcoin was trading at only $200 at the time (now $10,000+) and the collective understanding of crypto’s huge potential was very limited.

The online casino officially accepted its first bet in October 2013 when a wager of 0.12 BTC ($24 at the time) was placed on Korea’s K-League (football). Since then the platform has transacted over 6.5 million bets in its sportsbook. 

Cloudbet took an interesting approach to attract early interest in the platform announcing its arrival in Bitcoin’s most active community – Bitcointalk.org. 

This helped it develop a loyal customer base, with early adopters rewarded with a 100% first deposit bonus of up to 5 BTC. The promotion was so successful it remains active to this day, in addition to a range of other time-sensitive promotions. 

Cloudbet’s Live Casino officially launched in February 2014 with the first bet a winning wager on Blackjack. 

This year, the casino added Ethereum’s native cryptocurrency, ETH, to its growing collection of supported cryptos. In January, the platform launched its updated website featuring a more streamlined and intuitive experience for users.

Regulation and Security 

Cloudbet is a licensed Bitcoin betting site under both E-Gambling Montenegro and Curaçao eGaming.

With regulation around cryptocurrency lacking clarity in some locations worldwide, many crypto casinos are choosing to license and regulate in crypto-friendly jurisdictions like Curaçao. 

The more cryptocurrencies are accepted, the more cryptocurrency casinos are being accepted, globally.

Is Cloudbet Safe?

In choosing a cryptocurrency casino it is important to look at the track record of the platform and see what people are saying about it on social media.

Cloudbet has been a pioneer in many safety practices that are now being adopted worldwide, like storing cryptocurrencies in a cold wallet rather than a software wallet (hot wallet) that can be hacked. It also employs industry-leading security measures like leading encryption (SSL) and two-factor authentication to protect users’ data and funds.

Does Cloudbet Provide a Provably Fair Gaming System?

Cloudbet doesn’t feature provably fair games because the casino games are developed by industry-leading software developers who design games to be fair by default. The online casino simply hosts the games on its platform and doesn’t have access to the design of the games themselves.

Numerous testimonials from players on social media channels seem to suggest a degree of satisfaction with the win rate on casino games.

As a bookmaker, it is known to offer industry-leading odds, which are usually better than those of fiat bookmakers.

Fees and Costs 

Deposits and withdrawals to Cloudbet are conducted in cryptocurrency and because of this fees are limited to blockchain network fees. Cloudbet itself does not charge any fees for deposits or withdrawals to the platform.

You will have to take into account blockchain network fees when sending a transaction in cryptocurrency. The most affordable supported cryptocurrency to deposit (send) to the platform is currently Bitcoin Cash (BCH), which has cheaper network fees than both Ethereum and Bitcoin. 

Available Games

Cloudbet has a wide variety of casino games from the original classics to the very latest games from the top software companies. 

Cloudbet’s Live Bitcoin casino hosts a range of leading casino games from top brands in the industry like Evolution Gaming, Betsoft, Yggdrasil, iSoftBet, Play ‘n’ GO and Quickspin, with a wide selection of the latest games with great jackpots and graphics. 

Sportsbook

Cloudbet has one of the greatest sportsbooks in terms of variety in the gaming industry with numerous sports available to wager on live. Some of the sports covered by the platform include baseball, cricket, cycling, soccer, snooker, tennis, darts, basketball, tennis, volleyball, rugby, rugby league, ice hockey, and motorsports including Formula One. Some of the industry’s best odds are available with margins as low as 2% for the EPL, NBA, UCL, and NFL.

Live Bitcoin Casino

Customers can choose from a wide spectrum of games including slots, roulette, blackjack and baccarat. The platform features thousands of Bitcoin slots and 65 live-dealer tables where players can play with a real-life dealer just like in a normal casino.

eSports

The platform enables you to bet on your favourite eSports including 60+ markets in play, where you can bet in real-time on games like CS:GO, League of Legends, Dota 2, and many more.

Banking and Crypto Deposits 

Cloudbet is a cryptocurrency-only casino with deposits and withdrawals made in your favourite ‘crypto’. These deposits and withdrawals do not incur platform fees.

However, blockchains do incur transaction fees and it is a good idea to calculate these before sending to the platform as blockchain fees vary according to network congestion.

Cloudbet currently supports Bitcoin, Bitcoin Cash, and Ethereum, with more coins on the way. You can begin betting right after signing up with stakes as low as 0.0000001 BTC (or 10 Satoshis).

Promotions and Bonuses

Cloudbet offers one of the largest first deposit bonuses in the industry with up to 5 Bitcoin (BTC) or 5 Bitcoin Cash (BCH) matched 100% by the platform. The welcome bonus is applicable no matter what cryptocurrency you choose to deposit in.

At the time of writing, the online casino was running promotions on the NBA, NFL, and UCL with margins of 2% or less.

The online sportsbooks are also hosting a promotion to welcome the return of the English Premier League season after the disruption caused by the Coronavirus Pandemic. For the remaining matches, it is offering 1,000 customers pre-match odds with no commissions (zero margins).  

Cloudbet is focused on attracting players to the platform, but they also have promotions designed to keep them there. Its affiliate program is one of the most generous in the industry, with a lifetime 30% share of revenue and instant cash-outs to your personal dashboard.

All the promotions mentioned were active at the time of writing but make sure to check out the promotion page to confirm they still are. 

Conclusion: Should You Play on Cloudbet

If you are looking for a safe, well-established cryptocurrency casino and sportsbook operator, it is difficult to look past a pioneering platform like Cloudbet, which has been servicing customers successfully for over 6 years.

With some of the best odds in the industry and the highest limits on both table games and sportsbook, the online casino remains a popular choice for both beginners and high rolling professionals. It features one of the world's most wide-ranging live bet collections. 

With Cloudbet you can bet on spreads, money lines, handicaps, totals, total corners, total goals, correct score, both teams to score, next team to score, by-quarter or by-half scores, and more.

It also has an advantage over some other cryptocurrency casinos as it manages its own book and risk, rather than syndicating prices from other books like some other operators. Prices also adjust with money coming in and out, with limits moving with liquidity.

Each month, the platform adds new promotions, new games to the casino, and new matches to its sportsbook. We recommend you follow them on social media like Twitter to keep on top of these promotions.

FAQs

  1. The signup process couldn’t be simpler and you can start betting with your favourite cryptocurrency in under five minutes and with no identification documents required.

  2. Yes. It is available 24/7 7 days per week through live chat or email support [email protected]

  3. Yes. Cloudbet stores the majority of users’ funds offline in cold wallets and out of reach of attackers. There are only enough funds in ‘hot wallets’ (online wallets) to support the order books. Also, it employs SSL encryption to secure users’ data and the two-factor authentication is available as an additional layer of security for your account.

  4. At the time of writing, Cloudbet had a minimum bet of 0.01 BTC. It has some of the highest maximum bets available but these typically vary according to liquidity on the event in question. Generally, the closer to an event you bet, the more liquidity and the higher you can bet.

  5. Cloudbet is a pioneer in the cryptocurrency casino industry with a proven track record in the industry in servicing customers for over 6 years and over 6.5 million bets. The platform is always updating to add new features, promotions, and cryptocurrencies. It details these updates within its thriving social media channels. For these reasons, we believe it to be a legitimate and popular cryptocurrency casino and sports betting platform.

Company Information

Company Name
Cloudbet