CoinDrafts Sportsbook Review
At first glance CoinDrafts looks pretty cool. A place where you could bet on traditional and daily fantasy sports – who could argue with that?
But then you start using their site (not mobile responsive). You try to learn more about their company (there’s no about, contact, privacy or T&C pages). You read reviews (and find complaints).
Finally your excitement wanes and your guard goes up. CoinDrafts doesn’t look so cool anymore.
That’s how I felt, from start to finish, while checking out their site.
Read on to learn what I found – both the good and the bad.
Established year: 2014
US Players: Yes
Cashout times: Slow
Other crypto currencies accepted: None
PROS VS. CONS
Live chat feature is a big plus
Offer daily fantasy sports and a regular sportsbook
Lots of payout complaints from players
Site traffic has plummeted
Depositing here may not be safe
Not Exactly A ‘Newbie’ Friendly Platform
I checked out both sections of their site – the sports betting and daily fantasy sports.
It was difficult to use.
The first problem is how they labeled their navigation. The sportsbook is clearly listed. But the fantasy sports isn’t.
It’s actually labeled under their ‘home’ link. If you have any contests running you’ll find them under the ‘my contests’ tab. And after some looking around – and chatting with their support – I found it.
The second problem I had is that it wasn’t obvious how to start. What do I do? How do I buy Bitcoins? How much does it cost? What can I win? These are all questions I had.
I figured it out after awhile. But I think CoinDrafts –and their users– would benefit from having some instructions on their website. An FAQ page, video tutorials, anything. And keep in mind that, while I have no experience with DFS, I do have experience gambling online.
So can you imagine what a newbie would go through?
Anyway, I was able to understand the buy-ins, entrants and contest types at least. Here are the details:
- They have freerolls. Both times I checked they were running on a Sunday.
- The buy-ins range from .01 to 1 BTC.
- The prize pools range from .018 to 2 BTC. This varies, of course, on the number of entrants in any given contest.
- Most of the major sports are included – the NFL, MLB, NHL and CFB.
- You have a 60k salary cap (to build your team with).
- All the contests I looked at had less than 21 entries. There are H2H (head-to-head) matches too.
That’s about it. They have live scoring and instant payouts, too.
As for the sportsbook, I didn’t spend too much time there. According to their support their future plans are to build out the sports betting section. So, for now, here’s what you can bet on:
- MLB Alternates
- UEFA – Champions League
- Aussie Rules
Betting types include: moneyline, spread and totals. This section was much easier to use – just click on the odds you want, fill in how much you’re willing to bet, then click the ‘place bet’ button.
That was simple enough.
What’s Good About CoinDrafts? What’s Bad?
Here are some other things I liked or disliked about their site – in standard pros and cons style bullet points.
Stuff I Like
- They have live chat. You could either chat with a group or one-on-one. This includes members of the site and support.
- They offer daily fantasy sports. I can’t think of another bitcoin site that does.
- They have their CDP points system. As weak as I think it is, it’s still not something (many) other books do.
- They have freerolls, satellites and low buy-in contests.
- 1 confirmation is needed for deposits (nearly instant).
- 60 minute wait times for withdrawals.
Stuff I Dislike
- They don’t have T&C, privacy, contact or about pages.
- They don’t have an about page. And when I asked who they were during my live chat session, the guy couldn’t answer the question.
- The site isn’t mobile responsive.
- They’ve had issues with payouts. This quote is from the BitcoinTalk.org forums: Coindrafts have paid me 1btc in the last week following 3 months of paying nothing. They still promise to pay me in full. They owe me over 10btc.
What I dislike the most is how many people/forums rated CoinDrafts a ‘D.’ This is from bettors with firsthand experience too – not just a quick overview from me.
Summary: Cool Idea, Bad Execution
CoinDrafts is another site I’ve reviewed that had a cool idea, but dropped the ball in such a way that I have to give them a bad review.
I’m going to agree with everyone else – their grade is a ‘D.’
The daily fantasy sports angle is great. It’s massively popular right now, and as far as I know, they’re the only bitcoin site to offer it.
However, I had a hard time using their site. And I could almost forgive that if it weren’t for the laundry list of other issues I feel they have. The biggest of which revolves around transparency and payment delays.
You can’t screw that stuff up. Especially if you’re a new company. So for now I recommend steering clear of CoinDrafts. If you want to bet on daily fantasy sports with bitcoin, watch this space, else it’s best to use fiat for now.