Cloudbet - Bonus Review
- Australian Website: www.cloudbet.com
- Global Website: www.cloudbet.com
- Australian New Player Bonus: Up to 5 Bitcoins in a Cash Bonus
- Australian Bonus Roll Over: 100x
- Global New Player Bonus: Up to 5 Bitcoins in a Cash Bonus
- Global Bonus Roll over: 100x
Cloudbet is a Bitcoin only (no fiat currency accepted) bookmaker that has been around since 2013. Although this seems fairly new, being around since 2013 makes it one of the oldest Bitcoin bookmakers around today. If you do not understand what Bitcoin is then Cloudbet is definitely NOT the place to start.
If you are familiar with Bitcoin bookmakers and sports betting in general then you will know that the Cloudbet bonus is the only Bitcoin bookmaker that offers a sign up bonus today. Although the roll over requirements are extremely difficult being approximately 100x.
One of the biggest fears for a sports player in the Bitcoin bookmaker world is that they will disappear with your money (which has happened with other Bitcoin bookmakers). As such we recommend players not keep their money on the site for long periods of time unless they are betting.
Additionally if you are considering using Cloudbet over the long term for sports betting you will likely get your Cloudbet bonus of 5 Bitcoins. However if you are lured by the big 5 Bitcoin bonus (current value as of writing this review is $4357 AUD) and do not understand the roll over requirement you will be disappointed.
What are the Cloudbet Bonus Details For Australians and Global Players?
Cloudbet bonus is a 100% matched first deposit bonus up to 5 bitcoins. Due to how high Bitcoin is as of today, this technically makes the deposit bonus the biggest one currently available for a sports betting site.
There is a specific requirement which outlines how the bonus is released to the player, and it takes a huge amount of betting. The exact formula can be found on their terms and conditions which can be found here https://www.cloudbet.com/en/first_deposit_bonus.
It’s a complicated method of turning loyalty points into regular 0.01 Bitcoin releases. Doing a quick back of the envelope calculation it seems for every 1 Bitcoin turned over (or wagered) at odds of 1.86 you get 0.01 Bitcoins released. So to get the full 5 Bitcoins a total of 500 Bitcoins would need to be wagered at a minimum. This is a huge roll over requirement, however, when the 0.01 bitcoins are released you can use them straight away and withdraw it if you like.
Cloudbet Site Payment Systems for Australians and Global Players
The Bottom Line
Personally we have used and not had any issues with Cloudbet as of writing this article. We have compared Cloudbet to the other Bitcoin sports betting sites but the Cloudbet bonus is the only one available today that also has a good range of sports coverage (that we like to bet on).
Like we said in the introduction to this review if you do not understand Bitcoin then do NOT start with Cloudbet. Additionally, the Cloudbet matched first deposit bonus is probably the most difficult one to turn over and get your entire bonus back. However it pays out regularly while you are betting which is a nice bonus!