Wagabet Casino

Wagabet Casino is a very interesting casino in its concept. On the one hand, it's a small cute house offering provably fair games only – 4 in total, as a matter of fact. Casino players who are used to thousands of slots will definitely feel somewhat weird with only four provably fair games. On the other hand, Wagabet is a Bitcoin casino, so it values privacy and you can benefit from extremely quick deposits. Unlike other casinos, Wagabet does not use mediator during depositing – every BTC transaction is peer to peer, you should scan the QR code and in a minute you are ready to go.

Honestly, we liked the way Wagabet carries out its business. They may have an immensely small amount of games, but each one is from those that you can immerse yourself in and forget about everything else.

The concept aside, Wagabet suffers from very many issues. The casino does not offer deposit bonuses and has no license, so even if its idea is somewhat interesting and appealing, the casino is really a place many players won't like. Let us explain why.

Languages: English, German, Russian

Bonuses

As mentioned, Wagabet doesn't offer any deposit bonuses whatsoever. Not even one. Instead, they have a single tournament called Leaderboard bonuses.

The Leaderboard is a competition for all players that ranks them based on the amount they wager. To win bonuses, you need to be among the top 10 players in terms of betting amounts. Bonuses are awarded on a daily, weekly, and monthly basis.

The size of players' bonus depends on their rank, with the first place receiving the highest bonus and the tenth place the lowest. The prize for the first place is 0.00014706 BTC per day – around €6 in today's prices, 0.0014706 per week – around €60, and 0.00294118 per month – around €120.

For tenth position, the awards are as follows: 0.00000294 per day – 15 euro cents, 0.00002941 per week – a little over €1, and 0.00005882 per month – around €2.80. If BTC decrease its value, the prizes will be even lower, and it goes without saying that those bonuses are not attractive at all, especially given the fact that players need to wager to get anything.

The bonus policy of Wagabet is a pure disappointment, and we don't like it at all. Nonetheless, we understand it, as Wagabet is carrying out its business in a different way. They do not focus on bonuses, prizes and an abundance of games. Instead, their main priorities are privacy, speed and fairness – all games are instant win provably fair slots.

Our empathy, however, changes nothing at all. Wagabet simply cannot meet any standards!

License

In our view, the worst aspect of Wagabet is the fact that it operates without a license. The casino is totally anonymous, so playing there is a big no no. We never recommend unlicensed casinos! And yet, it's worthy of remark that Wagabet position itself as a crypto casino. Everyone knows the decentralised crypto world. They do not like authorities  and consider it normal to be anonymous and untraceable. That's how crypto works in today's world, as a matter of fact.

On the other hand, however, we shall be practical about these things. No casino should be anonymous and unlicensed, be it a crypto casino. If Wagabet wants to prove its worthiness it would issue a license so that players are reassured they've ended up in a safe and fair place.

Wagering in unlicensed casinos is risky, see why:

• Lack of regulation – unlicensed casinos are not regulated by any authority, meaning there's no guarantee that the games are fair or that the casino will honor payouts. If an unlicensed casino doesn't want to pay, you have almost nothing you can do about it.
• Security risks – unlicensed may not have strong security measures to protect your personal and financial information.
• Legal issues – gambling at an unlicensed casino can be illegal depending on your country's laws. Therefore, you may face legal consequences if you wager in unlicensed casinos.
• No recourse for disputes – if you have a dispute with an unlicensed casino, you have no legal recourse since they are not accountable to any regulatory bodies.
• Possible unethical practices – unlicensed casinos might employ unethical practices, like offering rigged games or using deceptive advertising. And since they are unregulated, no one can stop them from being unfair with players.
• Addiction and financial risks – unlicensed casinos might not offer responsible gambling tools, such as self-exclusion, for example. If you end up wagering in an unlicensed casino, the risks are definitely increased. More so, some unlicensed casino intentionally promote and encourage irresponsible playing.

Restricted countries: Australia, Netherlands, United Kingdom, Show All, Aruba, Belize, Bonaire, Sint Eustatius and Saba, China, Curaçao, Cyprus, France, Netherlands Antilles, Sint Maarten (Dutch part), Spain, Ukraine, United States, United States Minor Outlying Islands

Deposit and Withdrawal

Currencies: Bitcoin (BTC)

Only one deposit method accepted – Bitcoin, and only direct transactions are possible. From that perspective, it turns out that many players will be naturally restricted from playing if they don't have BTC wallets. There is no minimum deposit required – players can fund their accounts with as little as 0.000001 if they want to. However, such a small amount may be insufficient for betting, so it doesn't make sense depositing so little money. In fact, it doesn't even make sense depositing in an unlicensed casinos! Keep this in mind. Each deposit is instant and free.

Only BTC for withdrawals. The minimum requirement is high – 0.0015 BTC ($66 today, could be more tomorrow). Maximum restrictions are not specified, and seemingly, players are free to cash out as much as they want.

The processing time is also unreasonably extended, considering that Wagabet works with cryptocurrencies only. Approving a withdrawal should require minimal efforts, so here, Wagabet definitely shows another weakness.

Withdrawal limits are not specified – no daily, weekly or monthly caps mentioned, but that doesn't mean such restrictions do no exist. It more or less means that Wagabet once again demonstrates lack of transparency and that's bad!

The rollover is also unknown – the number of times players should wager their deposits before withdrawal. The rollover is a standard gaming and AML requirement imposed by every casino, so yet another downside appears – lack of transparency again.

The inactive policy is a disgrace. First of all, an account becomes inactive after only 3 months of inactivity, which is too short a period. In comparison, most casinos will let at least 6 months pass before they announce an account inactive. But the fee is even worse – 10% of the balance per month! Totally unfair and unacceptable! Let's compare again. Other casinos will take €5 to €10 per month, not 10% or so!

And it gets worse and worse. After 12 months of inactivity, the account is considered expired. Once this happen, you will be contacted, and if they can't reach you they will simply retain the balance as a fee. In other words, Wagabet confiscates funds! Do not ever wager in this casino!

Games and Game Suppliers

Game providers: Other

You already know. Only 4 provably fair instant win games are offered by Wagabet! Note that other casinos will offer as many as 8000 games altogether, so you see yourself that in certain places you can choose between 2000 times more games. That's horrendous!

And on top of that, it was never mentioned who developed those four games. We saw each one for the first time, so the trustworthiness gets even lower. We cannot take for granted that the games in Wagabet are fair and safe. Those could be rigged, and that's a real possibility! Anyways, here are the four games:

• Dice – a rather misleading name. There are no dice. Instead, the red-bearded warrior is next to a vertical scale where players bet on a number landing below 50 to win. With equal odds of winning and losing, as indicated by the 50 chance, a successful bet results in nearly doubling the wager, while an unsuccessful one means the player loses their stake. The red-bearded hits the button with its iron mace, and you either get an instant win or not.
• Hats – nine hats are on the screen. You need to select some of them. Place bet and if rabbit's ears appear from a hat, you win. If not, you lose. The game is rather unclear and hard to grasp at the beginning. And it makes no real sense cause we were able to select up to 8 hats at once, meaning that our winning chances were close to 90% and even more. That's unrealistic.
• Mines – a classic similar to minesweeper in appearance, but profoundly different in its nature. 5×5 squares, totaling 25 squares where mines can be hidden. Players must navigate this grid, avoiding the mines to win. The more squares opened without detonating a mine, the higher the payout. If a mine is hit, the player loses their bet. We tried it, and once again found unrealistic features. Only one mine was hidden, and we opened it the last. Seems like a catch, letting players believe the game can deliver enormous wins. Just note that.
• Goals – a penalty shootout-themed casino game. The player's objective is to score goals by choosing where to shoot the ball. The goalkeeper is ready to defend, and there are three soccer balls already placed in the top corners of the goal – players should choose one of them for their shoot, left, right or center of the goalkeeper. A nice game, but we still do not know who develops it and if it's safe at all. See what it looks like.

Conclusion

Two words describe Wagabet best – pure disappointment. We understand their desire to be a cute minimalistic small bitcoin casino offering provably fair games only, and we admire their unique vision, but the fact are unrelenting. The casino is anonymous and has no license, has no bonuses, and offers only 4 games developed by unknown provider. On top of it the casino accepts only BTC, which makes situation even worse. We wagered demo in Wagabet, but we won't put any real money in it. Instead, we would find another casino with a license, more funding methods, bonuses and more games. We recommend you should do the same.