The advent of bitcoin gambling has opened up a world that was once thought to be closed off for U.S players. Bitcoin makes the passion of sports betting a realisation again thanks to its anonymous sign-up abilities and the fact that no links to credit cards or financial institutions are needed for wagering.
Of course, anonymous betting with Bitcoin does have some risks. With so many name branded bitcoin sites available for American players such as Nitrogen Sports or Cloudbet and even main sites like Bovada and 5Dimes accepting BTC, customers have to do their homework on the lesser known like PowerBet Sportsbook.
Unfortunately, that homework at this time involves a lot of shady accusations against Powerbet. There have been reports of slow payout or no payout at all. Some online forum users have theorised that bettors have bled the sportsbook dry or that their short list of casino games are operating on inferior software. Of course, every gambler has the opportunity to find out for themselves and if so, here is the PowerBet Sportsbook Review of some of the positive things the site may have to offer.
One thing that PowerBet does do is offer bitcoin betting. Powerbet provides a 100% sign up bonus and features parlay bonuses on wagers containing more than four teams. As with most bitcoin books, processing the BTC is fast and convenient and Powerbet features only one confirmation required for their payouts. Therein lies the problem, however – actually receiving the payouts.
One of the major statements in the terms and conditions of the Powerbet site was that if any account was found to be in violation of their policies, they reserved the right to close down the account and the holder would forfeit their funds. As it turns out, just that has happened to many a player and they are reporting no pay and no response from customer support.
One thing to know when there is often a report of a scam on the Powerbet Sportsbook or many of the other books out there is that it can very well be a user trying to gain an unfair edge on the house. This is happening more frequently with eSports or those who open multiple accounts trying to win money from the sportsbook without actually winning a bet the right way.
As it stands, there is just too many questions surrounding the Powerbet Sportsbook. American customers have so many options for bitcoin wagering these days that it's simply not worth the risk betting with a reported less-than-savory site.
That being said, when a book knows their reputation and wants to earnestly win back the trust of their customers, it could be a lucrative time for the bettor. It would never hurt to sign up for an account at Powerbet and keep an eye on their odds. If they are offering the lowest percentages in the industry it might be the perfect time to take advantage. Of course, it would be wise to start betting at a lower amount and to make a couple withdrawals to gauge their trust and processing time.
As it stands, Powerbet shouldn't be your sole go-to sportsbook. That's actually a good strategy to have in general. If you have independent accounts at multiple sites it's not illegal, it's simply using the available resources to your advantage. Why make a bet at higher odds on one site where the exact same bet is offered for lower stakes at another?