Depositing through conventional payment methods using fiat currencies typically requires the involvement of a third party. Not just this, you will also have to give up some of your details to bring the transaction into effect. By implication, your financial transactions, especially deposits cannot be confidential. Thankfully, betting with Bitcoin, Ethereum, Litecoin, Dogecoin, and other cryptocurrencies has ushered in a new era of rising change and comfort in anonymous deposits. You can now deposit at betbit.com and other crypto operators anonymously. Since crypto makes for direct peer-to-peer financial transactions, only two parties are required to effect payments. Third parties like financial institutions, governments, and other forms of intermediaries are no longer needed. This creates the ideal setup for anonymity and privacy. One of the biggest objectives of blockchain technology is cheaper and instantaneous transactions, whether domestic or cross-border. This is why making withdrawals with crypto is great as they are instant. Of course, this is an exclusive preserve of crypto gambling platforms like Betbit Bitcoin Casino. Indeed, the involvement of a third party is the reason withdrawals at casinos and sportsbooks get delayed. Since blockchain technology eliminates the need for these third parties, this leads to faster payouts. This also means gamblers don’t need to pay fees or commissions to have their withdrawals processed. By implication, this allows you to spend more time exploring the robust assortment of games at the iGaming site instead of waiting pointlessly for payments to be effected. Once you register on a crypto casino or sportsbook, you will most likely be entitled to a bonus package as a new member of the site. This is known as the welcome or signup bonus. For instance, Betbit gives its new players a welcome offer of 100% up to 100 mBTC on their first deposit. Playing with cryptocurrency doesn’t disentitle you from enjoying good bonuses and promotions. At bitcoin operators, there are different categories of bonuses you can claim provided you meet the attached terms and conditions. Some of these bonuses and promotions are:


PROMOTIONS AND BONUS TERMS & CONDITIONS

4.1. All and any free bonuses and deposit bonuses cannot be withdrawn from the Casino, and are meant to enhance game time only. Upon withdrawal, the bonus amounts will be deducted by the Casino before the withdrawal is sent.

4.2. All bonus money will be removed at the point of cash out, bonus money is money that can be used to help generate winnings but cannot be withdrawn as part of the winnings. The bonus will be treated as 'Non-Withdrawable' and will not be reissued to your account but deducted from the winnings by the casinos withdrawal manager during the payout process. Cashback money is also 'Non-Withdrawable' and the casino reserves the right to deducted cashback money from a players' pending withdrawal.

4.3. Bonuses, unless specifically specified by the Casino beforehand, carry a wagering requirement that must be completed before a player can withdraw.

4.4. All cashback promotions carry a wagering requirement of 1X. Players cannot withdraw a cashback bonus until the sum of the cashback is wagered in full. All cashback money is restricted to a maximum withdrawal limit of 10X the cashback amount. This includes cashback awarded as 'gifts', 'comps' or 'free chips'. The Casino reserves the right to deduct Cashback money from a pending withdrawal.

4.5. All cashback money won from a Tournament prize, Raffle prize or Special Promotion have a maximum withdrawal limit of 2X the cashback bonus and carry a wagering requirement of 1X. All bonuses of 200% or more, cashback insurance of 75% or more will be considered a Special Promotions. The Casino reserves the right to deduct Cashback money from a pending withdrawal. Players who have a pending withdrawal or balance of over 100 $/€/£/ do not qualify to receive Tournament prizes or to receive cash from a Raffle or cashback from any ongoing Cashback promotion or any other special promotion offered by the Promotions Team.

4.5.1 Special Bonus - all bonuses of 200% or more, cashback bonuses of 100% or more will be considered Special Bonuses

4.6. It is the responsibility of the player to be aware of the details of the bonus they request or is given to them, including the wagering requirement, restricted games and any other details, terms and requirements associated with said bonus.

4.7. Players choosing not to play with bonuses, must state so before starting to play with a bonus. If a player does not want the bonus that has been deposited into their account by the casino, then they are entitled to request a casino customer support representative reverse the bonus out of their casino account, by way of email, telephone call or live Chat. If a bonus is received and a wager is made (of any amount), the bonus will have to be played all the way through, until the balance is zero or the wagering requirement is complete. If the player has not begun to play, support will remove the bonus should they ask for it.

4.8. Free bonuses (Comps, Free Chips, converted Comp Points or any other non-deposit bonuses) are playable bonuses awarded to player so they may play free of charge. Free bonuses have a different wagering requirement than other bonuses, and have a fixed withdrawal limit of no more than 100 Credits (100 $,€,£,AUD, or 1000 ZAR). Any remaining or extra balance is 'Non-Withdrawable' and is to be cleared from a player's balance. Each player is allowed to withdraw winnings from a free bonus only once during his/her gaming lifetime unless specifically approved by the casino manager.

4.9. A player who has never made a deposit and wishes to withdraw a free chip win, is required to first make one successful minimum deposit of 25.00 ($,€,£,AUD, or 250 ZAR). This first deposit amount is not allowed to be withdrawn or added to an existing pending withdrawal. If added to an existing withdrawal, the amount will be deducted from the total withdrawal amount. A players who has previously made a successful deposit and is now wishing to withdraw a free chip win, is required to have deposited within the last 30 days in order for the withdrawal to be approved and the deposit cannot be added to an existing pending withdrawal. If added to an existing withdrawal, the amount will be deducted from the total withdrawal amount. Free Bonuses (Free Chips) have a wagering requirement of 20X to 80X unless otherwise specified.

4.10. All promotions offered by the Casino are only valid for the period specified in the promotional offer itself which is posted on the Casino website and/or any other communication provided by the Casino itself.

4.11. A bonus equal to or greater than 200% that has been claimed with any deposit, will be subject to a max cashout of 10x the deposit amount.

4.12. All Free Cash Bonuses have withdraw limit of 5 times the original Free Cash Bonus amount.

WITHDRAWAL TERMS & CONDITIONS

5.1. All Deposits of 249 USD/EURO/GBP/AUS or less have a max withdrawal of 10X the deposit (all other currencies pegged to USD). Once a withdrawal request is made, the casino applies the 10X rule and corrects the withdrawal to accurately reflect the 10X rule. The remaining funds are deemed 'Non-Withdrawable' and are cleared from the player's balance. Deposit bonuses used during a play session that results in a pending withdrawal request, are also 'Non-Withdrawable' and can be deducted from that particular pending withdrawal.

5.2. Customers can submit their withdrawal request at anytime. The approval time may take fifteen - eighteen (15 - 18) working days starting the date authorization process was completed successfully. Processing a pending withdrawal requires authorization from the Fraud department as well.

5.3. Any and all bonuses redeemed by the player cannot be withdrawn or redeemed from the Casino, and will be removed from the player's winnings upon processing of the withdrawal.

5.4. We reserve the right to charge a withdrawal fee of 10-40 $,€,£ (Wire, Netteller, Direct-to-Card etc). Fees are based on location, deposit method and VIP Level, determined by our payment processor from time to time and are the responsibility of the individual player to absorb.

5.5. Although at BetBit we do our best to accommodate credit card and bank transfer deposits as well as bank transfer payouts on wins, we cannot always guarantee those options will be available. We therefore reserve the right to payout any and all wins using crypto currency. We say again that we always do our best to accommodate but in a worst case scenario we do reserve that right.

5.6. For a withdrawal to be approved, the player will be asked to submit certain documentation and information in order to verify the account. Failure to comply or failure to submit said documents and information 30 days from the time the withdrawal was requested, will result in the withdrawal being cancelled. It is the responsibility of the individual player to send the required documentation. Withdrawal approval depends on all conditions outlined and the verification of all required documents.

5.7. A player may not withdraw winnings as long as there is still a wagering requirement attached to their balance. They must complete the wagering requirements before making a withdrawal request, or risk having the withdrawal denied.

5.8. The casino has the right to refuse or withhold a bonus or winnings in the event of a deposit being cancelled, returned or denied by any payment service or processor at anytime.

5.9. If the player has wagered on restricted games with a bonus that does not allow said games, the Casino reserves the right to cancel any withdrawal and confiscate any winnings. Before starting to play with a deposit bonus or free chip, it is the responsibility of the player to check and understand what are the restrictions of that particular bonus or chip.

5.10. Unless otherwise specified, and although there are no upper limits to cashable winnings, the Casino operates a maximum withdrawal limit of 10,000 credits per month and 1,500 credits per withdrawal. For withdrawals above the monthly threshold, payments will be met in installments until the full amount is paid out. This threshold does not apply to progressive jackpot. Players are allowed to withdraw up to 1,500 credits (equal to 1,500 USD) per request. If the amount wished to be withdrawn is greater than 1,500 then the remaining funds are left in the account. Once the first withdrawal is approved, a player can request an addition withdrawal with the money in his account. A Player has the right to cancel the withdrawal request at any time while it is still pending. This also applies to the withdrawals of progressive jackpots.

5.11. The minimum amount for a withdrawal is 100 €/$/£/AUD or 1000 ZAR.

5.12. Any and all deposits must be wagered at least once (1X) the sum of the deposit in order to qualify for a withdrawal. A withdrawal cannot be approved unless a minimum wager of 1X the deposit is first met. Deposits made as part of promotions are subject to that specific promotion's Terms and Conditions and wagering requirement.

5.13. By depositing funds into your account, you direct us and we agree to hold them, along with any winnings, for the sole and specific purpose of using them (i) to place any gaming wagers; and (ii) to settle any fees or charges that you might incur in connection with the use of our services. We reserve the right to charge a fee of 3% - 6.5% for the processing of Credit Card deposits