Exbet.io Review

Exbet.io
 
Year established: 2020

Mobile compatible: Yes

Jurisdiction: Curacao

Overall rating: C

Recommended: For professional players (Bitcoin Betting Exchange)
 
Exbet.io Review

Exbet is a peer-to-peer Bitcoin Sports Betting Exchange that allows you to place back and lay bets and trade the world’s biggest sporting events.

Unlike a traditional sportsbook, Exbet users bet against each other, rather than the house. Exbet users enjoy the best sports betting exchange experience in the world, with good liquidity, low commission, and excellent value.

Be the house

Betting exchanges let you take bets from other users, so you can be the house. This is not possible with a traditional sportsbook. Being able to take bets from other users opens up a huge range of new strategies make profit from sports betting.

Don’t just bet… Trade!

Being able to take both sides of a bet (with back and lay) means that users can trade on a betting exchange. This is exactly the same as trading stocks or crypto prices. You don’t have to commit permanently to a back bet – you can change your position as prices (or your opinion) change. This is especially useful when betting In-Play.

No limit betting

Sportsbooks always limit the amount that you can bet. But with Exbet, there are no limits on your staking – only you decide how much to stake.

Winners welcome

Betting exchanges don’t care if you win or lose. Unlike sportsbooks, they do not ban successful players. Because of this, Exbet offers users a fairer and more flexible sports betting experience.

Commission

Commission is the fee that Exbet and other betting exchanges charge to use the platform. Exbet charges a commission of 1% on net winnings in a market, which is lower than all other major betting exchanges. If you make a net loss in a market, you pay zero commission.

What currencies can be used to bet on Exbet?

All betting on Exbet happens in Bitcoin (‘BTC’). To make things easier for you, they display all bets in milli Bitcoin (also ‘mBTC’ or ‘mB’). One milli Bitcoin is equal to one thousandth of a Bitcoin. So, for example, if 1 BTC = $10,000 then 1 mBTC = $10.

How does ‘lay’ betting work?

When you ‘lay’ a bet, you are essentially playing the role of a bookmaker by offering odds for another Exbet user to make a back bet. This means your potential winnings are the stake of the other user’s back bet. Your potential losses (or ‘liability’) is calculated by multiplying the total stake wagered by the decimal odds offered, and then subtracting the initial stake.

Why is there a delay when placing bets on live betting markets?

There is a time delay on live betting markets on Exbet which ranges from 3-10 seconds. This delay is put in place to allow users enough time to cancel unmatched bets if there is a change in the market conditions.

What is the minimum stake on Exbet?

The minimum stake for back bets (“backer’s stake) is 0.1 mBTC. The minimum liability for a lay bet is 0.001 mBTC (i.e. a lay bet of 0.1 mBTC at odds of 1.01).

How do deposit Bitcoin on Exbet?

When you are logged into your Exbet account, click on the user icon in the top bar and choose Funding from the dropdown menu. You will be taken to the Funding page where you should choose the Deposit tab. Here you will be given a Bitcoin address (and corresponding QR code).

Use this address to send funds to your Exbet account from your Bitcoin wallet or Bitcoin exchange account. Bitcoin deposits to Exbet require 6 confirmations (which takes approximately one hour) on the Bitcoin blockchain before being credited to your Exbet account.

How do withdraw Bitcoin on Exbet?

Go to the Funding page and choose the Withdraw tab. Enter the amount you wish to withdraw and the Bitcoin address that you wish to withdraw to, and click on the Submit button. You may withdraw up to the daily amount shown at the top of the page.

A small processing fee (paid to the Bitcoin blockchain, not to Exbet) will be subtracted from your withdrawal. This fee will be dynamically generated by Exbet to ensure it is as low as possible.

Advantages:

– New Bitcoin Betting Exchange;

– Trade market movements, not just the Sport;

– Superb Betfair-style UI for easy bet placement and editing;

– A plethora of trading events, potentially the best odds;

– 1% commission on winning bets, no hidden charges;

– Quite high limits for major sports;

– Market Maker API lets you automate your betting;

– Quick customer support team.

Disadvantages:

– No promotions;

– Narrow range of sports and leagues covered;

– Low market liquidity, particularly during in-play betting;

– A limited number of bet types;

– Poor payment options.

Payments:

Bitcoin

*Keep in mind to double check information. Be prepared for changes to restricted countries, bonuses, currencies, deposit and payment options, languages, contact info.

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