Ever since online games become a worldwide sensation, the gambling industry has been trying to keep up with the new wave in betting. In the early days, the eSports industry was mostly unregulated and mainly popular among teenagers and young adults. Those two factors contributed to the slow start of eSports betting.
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Nevertheless, both the industry and the gambling operators have reached unexpected heights in recent years. Let’s explore Loot.Bet – one of the eSports gambling websites that strives to become a top-tier betting platform.
Loot Bet is one of the numerous sites that decided to capitalize on the recent gambling trend. It is a betting site with the main focus on providing users with a wide selection of tournaments and competitions – all eSports related. On top of that, players are offered a chance to indulge in a slightly more casual type of gambling. Specifically, the site offers a plethora of casino games for various tastes.
Despite its strong marketing campaign and a great first impression, Loot.Bet site is not as flawless as it seems. Yes, there are numerous advantages. For instance, the design of the site is game-like and modern. Moreover, a wide array of betting types will satisfy the most seasoned bettors. And yet the reputation of the site leaves much to be desired.
For example, the withdrawal system is an exquisite array of overly complex processes. Next, the betting limit is often changed by the system itself. Some users even suggest that it might depend on how well you are doing. The list goes on.
Thus, in our Loot Bet review, we will strive to provide useful information about all the important aspects. We will also highlight the site’s pros and cons to paint a complete picture of the service.
Overall Rating: 3.5
- Game Options: 4.5
- User Interface: 4.5
- Bonus System: 3.5
- Deposit Methods: 4.3
- Withdrawal Process: 2.5
- Reputation: 3.0
About Loot Bet
Loot.Bet was launched in 2016, so it is considered very young in the world of gambling. The company operating the website is Livestream Ltd. Following the usual practice, the firm is registered in Cyprus.
There is a commonality between betting sites, which is obtaining a gaming license in Curacao. Loot.Bet betting site is no exception. If you are unfamiliar with Curacao and its laws, what you need to know is that the legal regulations of gambling are incredibly loose in that jurisdiction.
How Does Loot.Bet Betting Work?
- Create a free account on the website.
- Use one of the numerous payment methods to deposit money into your account.
- Choose a bet and place it. For instance, wager some money on whether or not your favorite team will win their next match.
- When you are done betting (and hopefully winning), transfer the money from your profile to your payment operator. This is called withdrawal.
Loot.Bet Welcome Bonus
There is no bonus that the site grants you upon registration. However, a Loot.Bet bonus can be found both on their website or on the web. Usually, there are ongoing promotions and codes that you can use. Many affiliated websites provide codes as well. Typically, those grant you an ability to gain an amount of bonuses that is equal to your deposit.
There are many betting sites that don’t allow players from certain regions to gamble on their platform. Likewise, Loot.Bet betting is unavailable if you are from France, USA, UK, and Netherlands. The same goes for smaller countries, like Belarus, Malta, and Belize.
Here’s the most interesting part: if you are from Curacao or Cyprus, you are blocked too. Even though those are the nations that licensed the operation of Loot.Bet!
Loot.Bet Esports Options & Casino Games
The service combines two gambling categories: eSports and traditional casino games. It can be easy to leave one part without proper attention, but Loot.Bet seems to be keeping a good balance between the two.
From famous titles like League of Legends and CS: GO to more niche categories like Street Fighter V and AoV, the eSports selection is reasonably high. Various tournaments and leagues, both international and local, are presented to wager on. Moreover, you can even bet on dedicated Loot.Bet Esports competitions!
As for casino games, although their provider is unknown, the options are very colorful. Surely, such an abundance of different slot titles and mini-games will cater to any gambling taste.
- Live betting. Dynamic and demanding, those require quick thinking and analytical skills to guess an outcome based on what’s happening in real-time.
- Pre-match betting. Analyze the competitors, apply your insight, and predict the outcome before the action starts.
- Outright betting. Also known as Future betting, it is a great choice for strategic and long-term predictions.
When it comes to the sign-up process, the site follows the best practices of the industry. Mainly, the registration is quick and easy. Click on a button, type in your email and password, and you are ready to bet.
Don’t be deceived, however, as Loot.Bet rules specify the long list of verifying documents needed to confirm your identity. That will usually be needed during the withdrawal process. Unfortunately, the quick and easy principles from the first sign-up stages do not apply there.
Promotions & Bonuses
Despite a plethora of promotions and code giveaways offered on the main page, the conditions on which they are offered are far from optimal. Any Loot.Bet bonus that you acquire follows the same rules. In a nutshell, bonuses are not real money. To convert them into real money you will have to, well, bet real money.
In fact, if you make a $10 deposit and get a $10 bonus from it, you must place bets until the total amount reaches $100. Moreover, the bets must be placed at Loot.Bet odds of 1.69 or above. Therefore, you have to make a lot of wagers before your bonuses can materialize.
Ladder is a leaderboard where gamblers compete for attractive prizes. Each week, the top 10 bettors with the highest number of successful bets earn valuable rewards.
Cashout is a function that allows you to cancel your ongoing bet and save some of your money.
Deposit & Withdrawal
Although many Loot.Bet reviews praise the high number of supported payment systems, we urge you not to make any conclusions just yet. Yes, deposit options are plenty: Visa, Neteller, Skinplay, Bitcoin, and many other methods are supported. It seems like PayPal is the only popular option that is left out.
But the problems arise when you decide to withdraw your earnings. According to Loot.Bet’s anti-money-laundering policy, your options to cash out the money are limited to the payment methods that you used for a deposit. We assume that it means that if you put money into your account using Visa, you won’t be able to withdraw funds to Neteller.
On top of that, the extensive verification process to check your identity is required for most withdrawal options (it seems like Bitcoin is the only exception). Specifically, you will be asked to provide documents that prove who you are and where you live. It is also not uncommon to be asked for a photo of your credit card. In rare cases, customer support goes as far as to demand a video call with you.
Privacy & Security
When it comes to sensitive data, there can’t be any compromises. Thankfully, Loot.Bet is PCI DSS compliant, which means that your credit card data is stored in accordance with the highest security standards. It is not much, but at least it’s a valid answer to the question ‘is Loot.Bet safe?’
Loot.Bet legal aspects, on the other hand, are a different beast. Because the company is licensed in Curacao, the interests of the customers are unlikely to be bothered with. Although most betting sites adopt this practice as well, the reputation of Loot Bet leaves much to be desired. Thus, we encourage you to check user reviews for yourself.
- Slick design.
- Dedicated mobile Loot.Bet app.
- Plenty of deposit methods.
- Cryptocurrency support.
- Three ways to contact support: live chat, phone, and email.
- Overly complex withdrawal system with several pitfalls.
- The reputation of the betting site is not rock-solid.
- The maximum wager amount might be automatically changed at any time.
- During the withdrawal process, money stays on the balance. Bettors can cancel the withdrawal by accident or on impulse if they place a bet before the money is out.
Overall, Loot Bet is a mixed bag. On one hand, it boasts some impressive features and provides a thought-through user experience. On the other hand, we have discovered a lot of questionable practices. Even if there is no evil intent behind them, some systems make the usage of this betting site a risky endeavor. Therefore, we recommend you to find a more reliable option. However, feel free to evaluate the pros and cons yourself and decide if this site is worth your time.
Is Loot.Bet Good?
The online betting operator truly deserves your attention since it offer a lot of betting options and supports its customers with juicy bonuses.
Is It Safe to Play at Loot.Bet?
Yes, the compay is licensed and constranly monitored by major auditing bodies. It also uses hig-end SSL tecnhology to protect customer information.
Can I Get a Welcome Bonus at Loot.Bet?
Yes, the operator welcomes all its players with a sig-up bonus. The get the free bonus money, you need to register an account and make a deposit.