BetOnline Poker Review
BetOnline made its debut in 2004, and it features poker, casino games, a sportsbook and racebook, and even skill-based gaming. Based in Panama and part of the Chico Poker Network, they’ve grown to become one of the largest sites to accept players from the United States. This BetOnline review focuses on their most notable pros and cons, which should allow you to make an informed decision the next time you’re searching for a new poker room.
While some sites are Bitcoin-only poker rooms, BetOnline can better be described as a traditional poker room that happens to accept bitcoins as a currency. Because of this, the level of anonymity isn’t as great as you might expect to find at a site like SWC Poker (formerly known as Seals with Clubs).
When you sign up, you’ll be expected to provide your name, email, physical address, and telephone number. These are all mandatory fields, meaning you won’t be able to join up without filling in these blanks.
Games & Tournaments
Texas Hold’em and Omaha are the two main games available on the site, with both no limit and pot limit being offered. Tournaments run throughout the day, and a guaranteed $250,000 is paid out in this format each week. The biggest events occur on the weekend, which is traditional for most poker sites.
One advantage to BetOnline is the relatively weak player pool. A lot of fish are swimming in their waters, and a hungry shark should be able to eat their fill.
First Deposit Bonus
Poker players can receive a 200% matching bonus on their first deposit, with a limit of $1,000. This bonus is released in stages, and it’s determined by the amount of rake you contribute to the house. In order to withdraw the entire $1,000, you’ll need to pay $6,523 in rake within 120 days. Any amount remaining after that time period will no longer be available.
Deposits & Withdrawals
A lot of Bitcoin sites only allow deposits and withdrawals to be made with the virtual currency, but that isn’t the case with BetOnline. They have a tremendous number of options to choose from, allowing customers to select the transaction method that best fits their financial needs at the moment.
As of this writing, BetOnline offers 15 methods of deposit. Bitcoin is one of them, but customers can also choose from bank wire transfers, Skrill, money orders, and all major credit cards. In most cases, bitcoins can be converted and moved into your poker room account within 15 minutes.
The site has nine withdrawal options to choose from, and these range from Neteller to receiving a check in the mail. If you choose to make a withdrawal to your Bitcoin account, you should expect to receive the funds within 48 hours (minus a transaction fee equaling 2% of the total payout). You can only choose the Bitcoin option if you’ve already made a deposit using this method.
BetOnline gives out POP Points to players who buy into tournaments and contribute to real-money raked hands. These points can then be used to buy into sit n go tournaments, as well as an exclusive tourney event held every Friday.
BetOnline doesn’t take a rake before the flop or from uncalled pots. They used a fixed schedule to determine their cut, and this is based on the number of seats and table limit for a game. The basic rake per pot is $0.01 for every $0.18, and this can result in a maximum rake as low as $0.25 or as high as $3.
While their record isn’t spotless, BetOnline has been free of any major problems or scandals for nearly five years. One of their biggest negatives used to be a lack of any sort of VIP program, but they’ve since addressed this by adding their POP Points feature.
In addition, the site provides a number of other generous promotions, as well as a sensible rake structure. Their acceptance of Bitcoin is also a positive, and the inclusion of other deposit and withdrawal methods gives members greater flexibility when funding their accounts.