One of the biggest draws to the Cloudbet Sportsbook is their promotion offering a BTC for BTC deposit bonus. In the world of online bitcoin sportsbooks, deposits and promotions are actually kind of rare. While eWallet and credit card books need to offer deposit bonuses because they are in such a competitive industry, the ability to bet with bitcoin in itself is largely seen as a superior convenience to most wagerers.
Either way, the 100% first deposit bonus from Cloudbet is very appealing. Of course like any casino related bonus, the money isn't initially credited to your account. In the terms of Cloudbet, it is released .01 BTC at a time as the player earns 800 loyalty points. Still, for a pretty frequent wagerer that's an excellent opportunity to double your money.
For U.S players who might not be aware, it is a 3-step process of turning USD into BTC. The first is downloading an e-wallet to a computer or Smartphone. After that, users need to purchase BTC from an online exchange or at bitcoin ATMs that are becoming more abundant in the United States. Now those BTC can be sent from your e-Wallet to Cloudbet by using only an address.
Cloudbet keeps deposited funds at an offline cold wallet to eliminate the risk of hackers. Of course, they do keep a surplus of BTC live, but that is to satisfy any daily payout requests. Speaking of payout requests, one of the drawbacks of having a more secure sportsbook is that withdrawals may take longer. For Cloudbet, these delays might take up to 24 hours to have the BTC transferred even though the deposit was processed instantly. For many, it's a small price to pay to know that the funds are safe.
Cloudbet was established in 2013 but is now a bitcoin-only sportsbook. Something that can be reassuring to U.S players is the fact that Cloudbet does hold a license from E-gambling Montenegan. This means it is a fully authorised sportsbook and casino which does hold some security standards, especially helpful in the world of relatively anonymous bitcoin sports betting.
One thing that Cloudbet does require from all of its members is an email confirmation. Some bitcoin sites mandate you only create a username through their web platform in order to start betting. Anybody who has joined any service online, however, knows that email confirmation takes only a few seconds and it's very easy to create an anonymous online email account.
Depositing and withdrawing is even easier via a Smartphone. Mobile wallets can scan the QR code to make transferring of bitcoin to Cloudbet even more efficient. Minimum deposits and withdrawals are set at .01 BTC, which is actually only $1.74 in U.S currency.
Cloudbet is one of the premier online sportsbooks for live betting. Sports available include all the major U.S leagues including the NFL, MLB, NBA, NHL, as well as MMA, golf, and motorsports to name a few. In addition, a bevvy of International wagering is also offered including badminton, cycling, darts, handball, snooker, table tennis, and many of sports which could be considered exotic to American players. Cloudbet also offers casino games, poker, and slots all of which can accrue loyalty points and thus help earn the full 100% deposit bonus.
The two main things that Cloudbet is synonymous for is security and their industry-leading welcome bonus up to 5BTC ($8,000+). Although the bonus may take a long time to recoup, there's a nice feeling in knowing that every bet you make, win or lose, will be paying you at least a percentage back. The bonus alone might be enough to choose this site but for American players, safety could be the deciding factor for using Cloudbet.