A Review of BetOnline’s Binary Options Brokerage

BetOnline is a combined financial options and sports betting online broker. Not much is known about the company behind the brand. However, this brand has been very active in the sports betting business for the better part of 20 years. The financial betting products were added a few years back, making this brand one of the new entrants into the binary options market.

Assets available

Just two asset classes are featured in the financial options product base of BetOnline. A breakdown of the asset listing on BetOnline is given below:

• » Currencies: AUD/USD, EUR/GBP, EUR/JPY, EUR/USD, GBP/JPY, GBP/USD, NZD/USD, USD/CAD, USD/CHF, USD/JPY, USD/NOK, USD/SEK
• » Cryptocurrencies: Augur/Bitcoin, Dash/Bitcoin, Dash/USD, Ethereum/Bitcoin, Ethereum/USD, Factom/Bitcoin, Litecoin/Bitcoin, Litecoin/USD, Namecoin/Bitcoin, Peercoin/Bitcoin, Ripple/USD

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Bonuses & VIP programs

What can traders get in terms of bonuses and promotions from BetOnline? Traders should watch for the following bonuses:

• » The 100% Bitcoin Bonus is specially reserved for those who have never used Bitcoin as a preferred means of depositing funds for trading on BetOnline. The first Bitcoin deposit gets the trader a matching bonus of 100% of the deposited amount. The promo code to be used to get this bonus is BTC2017. Bonuses have a floor and ceiling of $20 and $1000 respectively.
• » All traders get a 50% Welcome Bonus (sports betting only).
• » There is also a 50% lifetime bonus which is given to those who reload their existing accounts.

No VIP-level bonus options are available, and bonuses are awarded no matter the type of account operated by the trader.

Mobile Trading

BetOnline offers a mobile betting platform. There is no need to download any apps at all. Simply visit the mobile page of BetOnline, then scan the QR code on the page and you will be automatically redirected to the mobile page of the platform where financial options can be traded.

Deposits and withdrawals

At BetOnline, deposits and withdrawals are performed using the following methods:

• » Credit card/debit card: Use cards branded by VISA and MasterCard to deposit and withdraw funds.
• » Bank wires are accepted on BetOnline.
• » Digital Wallets: Neteller and Skrill represent the only digital wallets that can be used on BetOnline.
• » Bitcoin and Litecoin: For those who want to deposit and trade with cryptocurrencies, Bitcoin and Litecoin are your options. This option also paves way to receive a matching bonus from the BetOnline team.

The transaction processing times of BetOnline is comparable to what is obtainable in the industry.

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Customer support

As a winner of an overall customer support satisfaction award, BetOnline expectedly has a very strong customer support desk. What customer service channels can traders and prospects alike utilize on BetOnline? The following channels are available:

• » A live chat function is available for use by clients and non-clients for support on issues as well as general inquiries.
• » Email: The specific email address with which to reach the support team is [email protected]
• » Phone: Want to hear a voice on the other end? Look no further than the support phone number at 1-888-426-3661.
• » Traders can also use the social media handles on Facebook (facebook.com/Bet-OnlineAG) or Twitter (www.twitter.com/davemasonBOL).

The quality of the customer support on BetOnline conforms to industry standards.

Extra features and resources

What are those extra features which make BetOnline stand out from other fixed odds brokers?

1. » BetOnline features financial/digital options as well as sports bets on a single platform.
2. » Bonuses of up to $2,500 are available for all users, provided certain conditions are met.
3. » There is an opportunity to get a Bitcoin wallet with a unique address, which enables Bitcoin-denominated deposits, trading and withdrawals with minimal transaction costs.
4. » There is an opportunity to make extra money using the BetOnline affiliate program. Simply refer a friend and get that friend to fund a live account for a generous commission.
5. » There is a full-fledged informational guide on how to use Bitcoin to trade on BetOnline.

Verdict

BetOnline does a good job of combining financial odds betting with sports betting. However, new users may be confused as to what to go for, as the emphasis of the company’s site is tilted towards sports betting. However, the binary options offering of BetOnline is robust and provides traders with tools of technical analysis such as charts to aid their trading.

However, BetOnline needs to be more open about its regulation and licensing to inspire confidence among its users and prospects alike.

Pros

• » BetOnline has great customer support which is accessible every day, round the clock.
• » Up to 7 digital option types are available on BetOnline, which gives great flexibility to the trader.
• » Do you love sports bets in addition to predicting financial options? You can do both from one BetOnline account.

Cons

• » Regulatory status of BetOnline is not indicated by the company behind the product.
• » Not much information out there about the owners of the BetOnline brand.

FAQ

In the list below, you will find answers to the frequently asked questions about the BetOnline platform. Here they are:

What can I trade on BetOnline?

Traders can trade about 30 assets comprising fiat currency pairs and cryptocurrencies. The latter can be traded 7 days a week.

What financial trade types are found on the BetOnline platform?

The following trade types are found on the BetOnline platform: Turbo, Range, Touch, One Touch, 5 ticks and the Up/Down binary option.

How do I connect with BetOnline on the social media handles?

BetOnline has a Facebook page as well as a page on Twitter. These have been listed above.

Apart from my credit cards, is there any other way I can deposit and withdraw my funds from the BetOnline platform?

BetOnline offers the opportunity to deposit funds from digital wallets (Skrill, Neteller), check, bank wires and cryptocurrency wallets.

How can I buy Bitcoins to use on my BetOnline account?

Use your fiat currency account, credit/debit cards as well as digital wallets to purchase Bitcoin from users on exchanges such as Coinbase and Blockchain.info.

What is the minimum/maximum deposit amount that BetOnline accepts using cryptocurrencies?

$20.

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