Today I am happy to write this review about BetBTC which is a Betting Exchange just like the Betfair and the others. What makes this website unique is the fact that the only currency used at the exchange is the Bitcoin, which is the digital currency which has taken the world by storm.
With this Exchange you can bet 100% anonymously. In this case, you do not need to register an account before betting as you can place your bet without any registration. You will pay the amount for your bet from your Bitcoin wallet and after the event, if your bet was successful, the amount of your bet and the winning will be credited back to the Bitcoin wallet from where you placed the bet.
BetBTC which is registered in Costa Rica was established in the year 2015 and is an exchange which has been designed just like Betfair. If you are familiar with Betfair or any of the other Exchanges, then you will not have any difficulty navigating through the BetBTC website. The only difference between the site and the other exchanges is the fact that every transaction here is by Bitcoin only. No Credit / Debit card or Bank account is required or needed. The site is easy to navigate even if you are new to the Betting Exchanges.
Above is my account home after I created my own account. I will be devoting much time to this site having done all my investigation about this site. I am fully satisfied that this is the way to go now in 2017.
Now let’s look at the Pros of using BetBTC.
First and foremost, this site is using Bitcoin digital currency. If you have not heard of Bitcoin, then Google this. But then I would be surprised if you are really online. Lol.
This website allows for Anonymous online gambling / trading. Before you can bet or trade at any of the other exchanges, you have to register and verify your identity which involves submission of your government issued identification document in form or the travel passport or Driving license and a proof of your residence in the form of bank statement or utility bill. Some people do not like this as it is actually a hassle. This can take days to complete before you can start at the other exchanges. Some people do not even have the needed identification and verification documents. With BetBTC, you do not have any of this worry. Just register and start betting. Registration will only take seconds to complete and you are only required to select your user name and password and indicate that you are over 18 years. That is all and you can start your activity at the Exchange immediately. Even the registration is optional. You can bet / trade without any registration. This is a great feature which is not available with the other exchanges.
Other advantages are:
– Many betting options, Live betting;
– Great odds;
– No maximum bet limit;
– Only 4% commission on winning bets;
– Neat, intuitive game interface;
– Works well on all mobile devices.
_ US Citizens accepted. In case you do not know, US does not allow or permit the online gambling companies to accept her citizens or residents. But with BetBTC, US citizens and Residents can participate in Exchange trading and betting. This is because the site is using Bitcoin and not US Dollars which the US government has control over.
The Disadvantages or Cons of BetBtc.
Like everything in this life, there is always the good and the bad side. I have enumerated many of the great features about the website. Now let us look at some of the cons here.
Being a new website, yes there are few or limited sports being promoted here. Currently at the time of writing this review, there are about ten (10) supported sports, but these are the main sports which includes Football, Horse racing, Tennis and more are expected to be added in the coming months. So this should not deter you from creating an account and using this great website.
Low market liquidity, particularly during in-play betting;
Being new also means less members or number of people who participate at the Exchange. So the availability of cash or liquidity here is not yet the level you can find at Betfair and the other exchanges. But hey Rome was not built in a day. Liquidity is improving as more and more people join and participate at the site. When you join, you will be helping to improve liquidity.
A limited number of bet types; Yes the market is limited compared to Betfair. You do not have extensive markets like you have in Betfair. But what you have there is enough for you to make money there. And remember the early birds eats all the worms.
No deposit bonuses, promotions, bitcoin faucet, and player rewards;
Well this was the case until most recently. Right now as I write, BetBTC has started what they call the 100% First Deposit Bonus. If you deposit any amount, they will give you a matching bonus of 100% of whatever you have deposited up to 1 BTC which at point or writing is $1000. Imaging if you deposit $500 in Bitcoin, you are credited with additional $500 making your balance to be $1000 which you can use to trade or Bet. But like every other Promos, there are conditions attached to this before you can withdraw the cash from the bonus. The condition is clearly stated on the website.
(may not still be there when you read this).
UK players not allowed.
Yes due to regulatory issues, BetBTC does not operate in the UK at the moment. Yes as a law abiding entity, they have agreed to restrict people from the region in line with the legislation in the country of UK. But we hope this will be rectified soon as the site cannot afford not to have people from the UK which is a major market.
Bitcoin only. Yes just as this is a major advantage, they are some people who will like to use their DEBIT / Credit cards or other funding methods like PayPal, Skrill or Neteller. Unfortunately this group of people has to look elsewhere.
No Inplay betting at the moment:
At the time I wrote this review, there was no in-play betting. Personally, I find this difficult as I am in and out a TRADER not a BETTOR. They assured me they are working on offering this in the nearest future as more players come on board. You have to check if this feature is available at the time you are reading this.
Conclusion: I want everyone to give this site a shot. Start your Betting Exchange trading with this website. Make sure to click the link below and register an account immediately. Create an account as this is better than betting anonymously. There is nothing to hide as we are trading. There is nothing to be ashamed of really.
Register with the site and deposit at least $100 in Bitcoin and get a 100% matching bonus which will give you $200 (hope this is till available at the time of reading). With this and the knowledge gained from this Blog you can begin trading. Please learn to trade and no Betting (gambling) please. Try to get some of the ebooks from this website – they are reasonably priced.
For info on how to get Bitcoin, you will get that when you register on the BetBTC site.