Sportsbet.io review: Scam or legal? [BLACKLISTED]
Sportsbet Scam or Not: More Details on Major Features
Sportsbet opened for business in 1998, offering customers an offshore online gambling resort with Sportsbook, Racebook, and Virtuals. While it’s been accepting US players for years, the bookie holds no license to do so and exposes them to many risks.
Despite the lack of a license, Sportsbet has been luring US customers for over two decades. Next, we take a detailed look at the sportsbook to try and understand its features better and the dangers it exposes to US players, which ultimately do not allow us to recommend Sportsbet to our readers.
Sportsbet: Pros & Cons
- No US regulation
- Lack of encryption technology
- No fair gaming policy
The Sportsbet bonus requires players to make an initial deposit and place a qualifying bet of exactly USD 10 to get a free bet of USD 30. When looking further into the terms and conditions, our experts found that player props or virtual sports bets don’t qualify for the bonus, nor do odds of under 1.50. There are also other conditions attached which we caution you to be wary of.
The free bet is only available for seven days before expiring, and in the case of a winning bet, the initial free money is deducted from the overall winnings to get your reward.
Unfortunately, our search has uncovered plenty of occasions where Sportsbet has refused to credit bonus funds and, on occasion, closed player accounts with little to no explanation. Just a couple of reasons we suggest avoiding offshore accounts and opening yourself up an account with a well-respected legal provider.
The Sportsbet user interface is better than those of many other offshore providers, but that does not make it legitimate.
We also thought it rather odd that the website does not have the feel of an online bookmaker, rather more like an investment broker website in fact.
Despite its functionality, this is not a site where we felt comfortable and the fact that Sportsbet has no US license just added to our overall discomfort.
Interestingly, Sportsbet only supports cryptocurrencies and hugely favors Bitcoin, as it provides anonymity and allows players from regions where betting is prohibited to still play here. Allsportscoin and Ethereum are also supported, where details are somewhat vague.
Many offshore operators opt for customers using cryptocurrency to fund their gambling accounts because it allows them to bypass US laws. As a bettor, using this payment method simply enables you to play illegally. It gives no additional security whatsoever and should Sportsbet be closed down in the future, your crypto will disappear into the ether with no comeback for you.
This is a very dodgy setup and one that we highly recommend you to avoid!
In addition, there have been reports that players from Sportsbet can't withdraw their funds in a timely fashion or at all, which adds to our premise lacking proper regulatory bodies is a serious problem, and further cements our feelings towards avoiding Sportsbet at all costs.
One positive is that Sportsbet offers an in-depth FAQ section that provides answers to most general queries new customers may have. Players can also contact customer support with issues via two channels, either by email or via the Live Chat feature.
When compiling our research on Sportsbet, we found many reviews stating that emails queries were left unanswered and the live chat was rarely 'live'. Aside from avoiding the site entirely, our best bit of advice would be to find your own answers via the FAQ section!
Sportsbet online betting occurs in somewhat of a grey area of the gambling industry, where the operator holds no license to work in the United States. So, who regulates Sportsbet?
The bookie holds a license in Curacao. However, anyone familiar with the industry will tell you that this is barely worth the paper it's written on!
Unfortunately, the US government is yet to come down hard on the offshore online casinos and do more to encourage legitimate sportsbooks to apply for licenses and legally offer their services to US players.
The fact that Sportsbets has chosen to ignore operating legitimately highlights its inability to guarantee fair play and ensure that players are safe and secure on its site.
All state-licensed bookies have minimum standards to conform to in every respect. That is why we urge you to sign up with one of these and enjoy a gambling experience you can be certain is fair and safe.
Captain Gambling has blacklisted Sportbet on the basis of multiple irregularities across the site and we highly recommend that you take our advice and do not sign up there.
On paper, the Clubhouse is a crypto-players dream, packed full of special offers. There isn’t any sort of reward program here, but The Clubhouse has lots of deals like price boosts, multi-bet "insurance," and plenty more. Nice to see Sportsbet has some sort of insurance on-site, at least.
The Clubhouse is only available to those who make crypto deposits. Despite the decentralized nature of digital currencies, it appears players are still finding problems with the site honoring rewards and promotions based on their deposits. Another box checked on the long list of reasons we do not recommend Sportsbet.
Sportsbet.io Sports Betting
Sportsbet offers a wide range of sports that should satisfy most bettors - they need something to lure customers into betting on an illegal, non-US licensed operator, after all.
These include all major leagues such as MLB, MLS, NHL, and NFL but also have Aussie Rules, Olympics, European soccer leagues, and many more to pick from.
The odds at Sportsbet can be displayed in different formats and offer a competitive edge, which sits well above the standard on some bets. However, there have been customer reviews indicating many major events lack such odds, which would point towards a worrying strategy on the company’s end.
Of course, it is also worth noting odds provided by offshore companies will naturally be of better value, as they have not spent thousands of dollars on legitimate licensing and security features that other top operators would have done.
Sportsbet.io allows you to make some very impressive winnings. For example, you could win over a million bucks by betting on soccer - whether you can withdraw it is another question, however. While conducting our review, there is a great mention of withdrawals being declined, going missing, and accounts being closed with little to no explanation.
The chance to win over $1,000,000 is enticing, but the risk of using an offshore sportsbook like Sportsbet is enough to dull that offer substantially.
It's true; the site gives you competitive odds on all major US sports. Plus, it has a decent live betting platform and some generous bet limits.
However, there is nothing at Sportsbet that you can't find at the best US sportsbooks, and you will eradicate all that unnecessary risk too!
Sportsbet fails to comply with US regulation and still offers US players illegal gambling services due to a 'gap' that currently exists in the US laws.
No proper license usually means no immediate control over the operator and this brings on the question who will help players in a case of unresolved issues with the bookie. Operators thus get complete control over the process and also get to protect their interests in any way they find suitable.
However, the changing US laws have now allowed more renowned bookies and casinos to enter the market with proper licenses, which offers players fully legal options to enjoy online gambling. This could have two negative effects on offshore operators:
One, players will obviously enjoy safe and state-licensed bookies, which could see the overall popularity drop and would ultimately see the operators unable to produce the same sort of service they are at this moment.
Two, the unhealthy competition from offshore companies in the sense they are able to offer an edge primarily because they don’t pay expensive licenses or fees to leagues and teams. This has already seen great criticism and could force the government into more strict measures to ensure a solid market.
Verdict: Stay Safe and Away
Although there is no immediate danger of legal action against you, we strongly advise US players to avoid Sportsbet. There are way too many dangers entailing if you do so, from data to fund safety and everything in between, which just makes it too risky to try your luck.
Indeed, we suggest you take a look at some of the state-licensed and regulated bookmakers, who offer a unified standard of quality and have to guarantee it in cooperation with the Division of Gaming Enforcement. This means staying on the safe side and is surely the pillar of any online experience.