Xbet.io Sportsbook Review
Be your own bookie!
That’s Xbet.IO’s slogan – and it fits them. I’ll tell you why in a second.
But first, you should know that they don’t accept Americans. They don’t have any real promotions to speak of (I think I know why), either. If those things bother you, I suggest checking out a different sportsbooks – 5Dimes, GoBetGo or BetVIP.
And, as of 10/2014, they only let you create bets or bet on horseracing and soccer matches. Even though just a couple of months ago they had basketball and the World Cup.
Anyway, just wanted to give you a heads up. Now onto their slogan (and why it fits).
So, the premise of their service (and ultimately their slogan) is this:
All the bets you make on their site are against the other users (peer-to-peer (P2P) betting). You’re not betting against the house, thus accepting odds that may or may not be that profitable.
Instead, you’re able to set your own odds. And the other users have the choice to take, counter or pass on them.
Xbet.IO takes a small 1 percent fee (smaller than other books’ margins), and are 100% transparent – all bets are settled fast and publicly on the bitcoin blockchain. You can see their public key for each bet.
Sound good? You can get started right now – no registration or account is needed. Just head on over to their website.
And if you have any questions about their service, you can try contacting them in their dedicated thread on the Bitcoin Talk forums (https://bitcointalk.org/index.php?topic=645313.0). They also have a live group chat option on their website; although when I used it last I never got a response.
The rest of this review will focus on promotions, your betting options and the pros/cons of using their service.
Established year: 2014
US Players: No
Cashout times: Fast
Other crypto currencies accepted: None
PROS VS. CONS
They don’t ask for personal information.
They’re mobile responsive.
Bets are settled within 3 hours.
No one keeps or manages your funds. (ept in escrow)
They don’t have a dedicated email address.
They only have 2 sports to bet on.
Promotions aren't a strong point.
What You Can Bet On
You have 2 options
- Football (soccer)
- Horse racing
Just a couple months ago they also had basketball and the World Cup. Not anymore though.
In fact, when you enter Xbet.IO into your address bar, they redirect you to their main soccer page.
They do mention in one of their forum posts that they plan to expand into more sports in the future along with Binary Options. Maybe they’re in the process now, I don’t know.
On the upside they have a short ‘tour’ that explains how their site works and how to use it. I think it’ll help most people quickly get a grip on their platform.
Become an Oracle
Another option you have is to become an Oracle. This is basically a way of saying that you can create your own bets on Xbet.
The benefit, other than feeling a bit like a god, is that you can earn money by doing it.
What’s also interesting is that they (Xbet) mention that a benefit of being one is establishing trust and creating a following. I’m guessing that you want these things so that you can jump start the action for your bets, thus making it more likely you’ll get paid for them.
You can create bets for all kinds of events and categories. This includes politics, sports, culture and currencies. To get started, just sign up on their Oracle page.
Summary: Are They Worth Your Time?
The idea behind their site is pretty cool – become the bookie.
And I think over time Xbet.IO will grow. You can’t go wrong by handling control to your users, while slashing fees in the process.
That said, they will definitely have to add more options – like sports and bet types.
It would also help to have a dedicated (support) email address.
The bottom line – I would give them a C+.
That might seem low at first, but considering they’re new (they appear to have launched in summer 2014) and lack options, I think it’s a fair grade.
Especially when you consider that other portals, like Peeps Place, have yet to rate them at all.