Betcoin Review
3.5 stars - "Betcoin Review" Betcoin Review
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Betcoin Review

Written on: May 25th, 2015 | Author: David M

BitCoin

English English

Important info
  • Accepts US :  Yes
  • Live Dealer:  Yes
  • In Play:  Yes
  • Email This email address is being protected from spambots. You need JavaScript enabled to view it.
  • Established:  2013
  • Software:   betsoft, ezugi, endorphina, Winning
  • Mobile :  Mobile friendly
  • Live Chat :  Yes
  • Office Location :  Costa Rica
Pros and cons
  • Massive selection of US-sports coverage, and a nice variety of betting types. VIP program offers a return on all turnover and a loss rebate
  • Winning Poker and Betsoft products
  • Ridiculous loyalty plan - best in show
  • Website can be a bit confused at times

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Summary

Betcoin is arguably the best one-stop betting shop for bitcoin gamblers, a triple threat product, boasting excellent products across bitcoin sports, bitcoin poker and bitcoin casino. The loyalty program is insanely lucrative, with massive bitcoin returns, prizes, and a shop where points may be spent for prizes. And in terms of mobile and tablet products, Betcoin sets the bar in the market.

While 5dimes and Betonline’s recent decision to accept bitcoin has somewhat diffused Betcoin’s unique offering to US players, the speed at which Betcoin processes transactions is superior, and there are no charges for bitcoin transactions - unlike Betonline’s 2% fee.

This review begins detailing the overall product, including how to deposit an open an account, and a review of the incredible loyalty program. We will then proceed to discuss the Casino, Sportsbook, and Poker products in turn.

[jump to casino] [jump to sports] [jump to poker]

Bitcoin at Betcoin - Or, Why Can’t Things Always Be This Easy?

The first thing that new players will be impressed with is the superior process for account opening and funding. The only information required is a username, password, and email to fully complete registration. Players need not even verify their email accounts.

New users are then able to deposit with bitcoin or litecoin. Deposits are instantly credited, while withdrawals hit user wallets “typically within 15 minutes, and no more than 4 hours”. For US players conditioned to convoluted payment processes, this is truly an incredible development.

800x150 betcoin

Betcoin's Loyalty Program

The Betcoin "VIP Player's Club" - not to be confused with the "Poker Player's Club" - is a VIP program in which users earn betcoin points - not to be confused with status points - that can be exchanged for cash and prizes or redeemed in the store - coming soon. There are seven different VIP levels, each with three different steps, with each step offering more benefits.
Betcoin really does deliver some crazy-amazing value here, despite their rather confused messaging.

The VIP levels are based on lifetime achievement - once a VIP level has been reached, a player cannot be demoted to a lower level. I've taken the table below directly Betcoin's Vip Rewards page, which is actually pretty difficult to find. I've combined the steps within each level for ease of viewing.  For instance - within the bronze VIP level, there are three different sub-levels - bronze III from 0-999 points, Bronze II from 1000-2,4999 points, and Bronze I from 2,500 points until 4,999.  The definitions of the rewards are shown below the table.

VIP level Status points Casino rewards Sports rewards Poker rewards
Bronze 1-4,999 .01-.03% betback
1-3.5% lossback
0.1% betback
0-2% lossback
10-16.6% rakeback
Bronze monthly freeroll
Silver 5,000-39,999  .04-.07% betback
5-8.3% lossback
0.3-0.5% betback
3-5% lossback
20-26.6% rakeback
Silver monthly freeroll
Gold 40,000-99,999 .09-.13 betback
10-13.3% lossback

0.6-0.8% betback
6-8% lossback
30-33.3% rakeback
Gold monthly freeroll
Emerald 100,000-249,999 0.15-0.19 betback
15-18.3% lossback
0.9-1.1% betback
9-11% lossback
35-38.3% rakeback
Emerald monthly freeroll
Ruby 250,000-999,999 0.21-0.25 betback
20-23.3% lossback
1.2-1.4% betback
12-14% lossback
40-43.3% rakeback
Ruby monthly freeroll
Diamond 1m-9.99m 0.27-0.32% betback
25-30% lossback
1.5-1.8% betback
15-18% lossback
45-48.3% rakeback
Diamond monthly freeroll
Master 10m+ 0.35% betback
33% lossback
2% betback
20% lossback
50% rakeback
Master montly freeroll

 Rakeback: The percentage of a players rake which is returned at the end of each month. Rakeback is paid back in Betcoin Points. This is paid out monthly.

Betback: The percentage of casino and sportsbook turnover that is returned to the bettor in the form of Betcoin Points. This is paid out monthly.
Lossback: The percentage of a player's losses that is paid back to the user, in the form of Betcoin Points. This is paid out daily.

Additionally each VIP level gets a daily "surprise box" containing prizes ranging from bonuses and free spins to Betcoin or Status Points. A user must login to claim the daily surprise - so better login daily!

Status points are earned by playing on any of the betcoin products. They release as follows:

Game type Bet/rake/fee Status points earned
Casino 1 chip .01
Sports 1 chip .01
Poker cash games 1 chip 6
Poker tournaments 1 chip 6

 Each chip is equivalent to one mbit, or .001 bitcoin.

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The Betcoin Website

It took awhile, but Betcoin finally merged its multiple products to a central portal, betcoin.ag. The Casino and Sportsbook, both web-based, have a shared wallet that can be accessed directly from the website. Poker, accessible only from a downloadable Winning Poker Network client, requires transferring the desired balance, which is easily done from the user dashboard.

Speaking of the dashboard, we recommend starting your gaming off with a visit to the “wallet” tab, accessible after clicking on the username, located in the upper right hand corner of the homepage. This is the control frame of the mother ship, with an account of chip balance, your VIP Player’s Club information, and all deposit and withdrawal information that might be required. The Bonus tab shows all current casino bonuses for reference, as well as any earn poker tournament tickets.

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A word on navigation and content. Users can finally access all products from betcoin.ag, and secondary websites like betcoincasino, betcoinpoker and betcoinsports finally redirect to the central portal, and a single login has been integrated. This is a massive improvement, as navigation used to be very confused - it was as if Betcoin was unsure how to circumvent the fact that they did not own betcoin.com, and thus offered three different connected products that did not really connect properly.

However, the content and communication is sometimes off. Outdated bonuses or promotions at times remain prominently displayed, which misleads users. Messaging is not always effectively managed - an example being the “live dealer” tab in the casino, whose filtering system does not actually populate games. This is because the product is not live yet - though rather than saying this, a “no games fit your criteria” is displayed for search results.

In any event, all of this has also been improved greatly in the second half of 2015, prior to which it was difficult to know where each click would take you and contradictory information was posted regularly across their different sites.

BetCoin Casino Review

It is often characteristic for multi-product gaming operators to integrate a casino primarily as a cross-over product.  Not so BetCoin.  The casino is excellent and could succeed as a stand-alone product.  

Betcoin Casino Bonus

Betcoin offers new casino players bonuses across the first three deposits for a maximum of three BTC.

Deposit Bonus  Turnover amount Included Games  Bonus Expiration
-First Deposit: 100% up to 1 BTC
-Second Deposit: 50% up to 1 BTC
-Third Deposit: 25% up to 1 BTC
 20x bonus+deposit Slots (not progressive), Keno, Scratchers,Virtual Racebook 30 days

Bonuses are available on deposits of .05 bitcoin or higher, and must be requested from support after making the deposit. Please note that if the bitcoin bonus is requested, players must complete playthrough requirements prior to withdrawing. Attempting to withdraw bonuses prior to completion of the requirements will void the bonus amount and all winnings. Please do not play on excluded games prior to completion of the bonus - doing so allows Betcoin the right to void the bonus and earnings. This is meant to protect the casino from bonus abuse which, considering the relatively reasonable wagering requirements, could be quite the issue.

So, long story short - if you are coming to Betcoin to play table games, BitReview advises you to let support know you do not want a welcome bonus, and thus avoid any misunderstandings.

Betcoin Casino Games

Betcoin, like many in the industry, use the very popular BetSoft software, offering games that can go toe to toe with any fiat online casino providers. Betcoin boasts over 150 games including:

  • Over 100 Bitcoin Slots, included 50+ BetSoft 3D Slots and 30+ video Slots;
  • Seventeen Video Poker games including Deuces Wild and Jacks or Better
  • Seven types of Roulette including European and American variations, and Craps
  • 8 different Blackjack variations
  • 9 casino poker games including Caribbean Poker and Pao Gao
  • And a few different types of Baccarat

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The 16 Progressive Jackpots are helpfully grouped together in a single tab, with each game displaying its current jackpot. As of February 2015, the total amount of Progressive Jackpots on Betcoin Casino was 550,000 credits, or 550 bitcoins, including Greedy Goblins at an impressive 160,000!

Betcoin offers live dealers through Ezugi, which seems to be the live dealer provider of choice for bitcoin casinos. Live Blackjack, Roulette and Baccarat are offered with stakes from .25-500 credits per hand, dealt by cute dealers who are paid to be extra nice to you.

Betcoin Mobile Casino

Betcoin has a fantastic Mobile product, accessible from iOS, Android, or any major mobile software. There are 50 games available, each individually optimized for handheld devices, from blackjack to Gypsy Rose, Davinci Codex and The True Sheriff 3D slots!

mobi5

Casino Final Thoughts

Kudos to Betcoin for continuing to integrate multiple gaming suppliers to increase its portfolio of casino games, and putting particular focus to rolling out the top titles on their excellent mobile platform. With one of the best bonus offers out there, Betcoin is a great place for Casino enthusiasts to have a gamble, as well as sports bettors and poker players looking for some side action.

Play Now!

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Betcoin Sportsbook

Baseball, American Football and Basketball (male and female), soccer, hockey, rugby and cricket, boxing, snooker, female curling, even political races, betcoin has a massive catalogue of sports and leagues available for betting in American Money Line or European fraction or decimal formats.

sport

The in-play betting interface is very intuitive, and you can watch the odds dance across the 20+ types of betting categories for popular matches. Pre-match, the number of bet types is obviously determined by liquidity, but most American sporting events offer multiple handicaps and over/unders are offered for American sports, and European soccer can offer over 70 different bet types per match.

Users are offered the option to choose parlay or system bets on the betslip. parlay bets, otherwise known as multis or accumulators, offer users the chance for much higher returns if all chosen bets win. Conversely, if one of the bets loses, the entire parlay loses. System bets, on the other hand, are similar to Parlays accept payouts are made for every successful bet, with higher payouts the more bets are won. At least two bets are needed for Parlays, three to make a system bet.

Betcoin Mobile Sports

Betcoin offers an excellent mobile product, optimized across any handheld device and with full features, including live betting.

Sports Final Thoughts

While the book hasn’t had the time to integrate all the bet types and features of 20-year-old products like 5dimes, Betcoin offers an experience that is essentially registration-free, with instant and free deposits and withdrawals.

Bet Now!

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Betcoin Poker

Betcoin Poker sits on the Winning Poker Network (WPN), home of America’s Cardroom. There is joint liquidity on the tournaments and sitngo side, which means players can usually find sitngo action regularly, and there are massive tournaments that players can take part in - including the massive million dollar Sunday tournaments!

Tournaments are played in dollars. When registering, Betcoin players are shown the buyin amount in USD, along with a conversion rate from btc to USD. When the tournament is entered, the corresponding amount is deducted in bitcoin. When tournaments are complete, winnings are automatically converted back to bitcoin in your wallet. Good on Betcoin for integrating a convenient, seamless process for conversion to/from USD within the poker client.

pokerlob

Betcoin has separate liquidity pools from WPN on the cash games side, apparently due to additional challenges that would arise from conversion from btc to dollars that do not apply on the more straightforward tournament side. There are both positives and negatives to separate pools. On the negative side, higher level tables are usually only open during peak hours. There is however, always always action at 1mBTC/2mBTC and under.

On the positive side, it means betcoin benefits from a relatively fishy player base on the cash games side. The separate pool protects these fish from the sharks you would find at the regular Winning Poker Network tables.

Betcoin poker bonus

Poker players are offered a generous welcome bonus of 100% up to 1 BTC.
The bonus is released in increments of 2 chips, or .02 bitcoin, for every 45 Status Points earned. The bonus is released into the real money wallet, and is treated exactly as deposited coin. The bonus expires within 90 days of a player's initial deposit.

Status points are earned by playing real money poker tournaments or cash games. Each chip, worth .01 bitcoin, that is contributed in rake or tournament fees earns a player 6 status points. For you value chasers out there, the Betcoin welcome bonus offers a rakeback percentage of 26.7%, which is quite good.

For you serious players out there, Betcoin uses a proprietary fairly distributed rake format, which is basically the same type of system employed by pokerstars, partypoker and just recently, iPoker. Basically, rake is allocated based on contribution to the pot. Loose players will thus be allocated a larger percentage of the rake - and thus the status points - while tight players earn less status points. According to Betcoin poker, tighter players will earn approximately 5-30% less status points than an aggressive player.

Betcoin Mobile Poker

And wow, here is where Betcoin really differentiates itself from the competition. Betcoin has developed a web-based poker client which can be accessed through the “puffin web browser”, allowing access to the sick Winning Poker Network tournaments. Game play is excellent, and you can even comfortably multitable!

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Poker Final Thoughts

Betcoin has integrated with Winning Poker Network, allowing players access to an exceptional collection of tournaments with staggering guarantees. And they allow unique access to all this through a mobile product available on any smartphone or tablet! The restriction of cash games to bitcoin segregates cloudbet players from the rest of WPN, which limits greatly table action, but does facilitate a fishier player base.

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Customer Support

Betcoin has email support who did not respond to our first contact attempt.  Might have been a personal problem.  There is also instant chat, a rarity in the bitcoin marketplace. Support agents man the instant chat from Monday to Friday, from 10am until 10pm, UTC-5:00, which roughly correlates to eastern standard time.

Bottom Line

Betcoin offers a one stop shop for bitcoin poker, casino and sportsbetting. Players from all over the world can register and deposit in literally seconds.  Betcoin's VIP program is the best in the entire online gaming market, offering amazing value to players.

Whether your tastes are limited to sports, casino or poker, or if you dabble in a couple different gaming categories, BetCoin is an exceptional product and definitely worth a go.

Bet Now!

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Bitcoin Price (USD): 853.48