OneHash Bitcoin Sportsbook Review
OneHashis a remarkable achievement regarding online casino, sports betting, live markets and pretty much any prediction market you can think of (to a fair degree obviously). Players can engage inmutual bettingwith each other to create a betting system that is new to the industry. All bets are carried out using Bitcoin, this ensures that anything related to deposits and payments is simple, fast and effective. Furthermore users are only required to provide an e-mail address to sign in and start playing.
We find that the best way to explain how mutual betting works and the benefits it brings is actually through their video explanation:
That is basically it. Players bet on their desired outcome and as such the prize pool gradually grows up. When the event ends, winners split the prize pool according to their contribution. How confident you are on the outcome will be reflected on how much you are willing to bet. And therefore how much you bet will affect the share of your possible earnings.
OneHashfee sits at 5% of the prize pool, this is a pleasant number when compared to other betting and trading platforms. All odds are determined by the mutual betting system, and we’re quite sure that you will share our opinion that many odds are mindblowing. We made a few comparisons during our review, take a look at this one:
In this example to odd for Uruguay to win is much better on OneHash. However payout is always subject to the size of the prize pool so players must bet accordingly. Every bet made influences the winning multiplier until the pool closes.
(Quick update: the Uruguay odds are now down to 2.06, this is still a big improvement on the other odds in the market. The sooner you place your bet, the better chances you have of getting a really cool odd. This is thanks to their time-weight multiplier.)
They have a Curacao License so OneHash is available to every player where jurisdiction is available. There is no moblie app available yet but the website is fully optimized for mobile navigation. The interface is simple and beautiful.
The sportsbook cover a wide range of sports including:
- American Football
- Combat Sports
As expected, more popular sports have more liquidity than others. This is very important within the mutual betting concept. Some of the more popular ones are football (soccer), basketball, tennis and american football. This is not a fixed list however. The World Rugby Seven Series is currently an ongoing event so there are a lot of options for betting on rugby games right now. Some of the games even have a good bank (prize pool) and again… astounding odds.
We just couldn’t resist the fact that South Africa 7s odds on other sports betting houses were at 1.04. As you can see on the image above it’s at 1.4 on OneHash. So we went ahead and placed a cheeky 5€ bet on them. Here’s proof:
You can check every bet placed on the event. Ours is the one at the top, and if everything goes well by the time we’re done with this review we’ll be a whopping 0.00112 BTC richer (0.0008 BTC bet x 1.4 odd),
Bottom line, when it comes to sports betting, not all sports are equally good to bet on. Some have bigger prize pools and therefore better prize liquidity than others. For more popular sports this shouldn’t be a problem though, so unless you’re looking to bet on Czech’s 2nd League you should be okay.
Other acclaimed sports events like the World Rugby Series or the upcoming FIFA World Cup look like they will be a hit on OneHash’s platform.
It should also be mentioned that OneHash has category fully dedicated to e-Sports. You can even watch some of the games on their website through Twitch streams. CS:GO seems to be the most popular choices, with some games having a prize pool of 0.0153 BTC
OneHash also offers its users the chance to test their trading skills on products like Cryptocurrencies, Commodities, Forex and Stock Exchanges. While this is a very interesting area on their website it still needs to see more players join in on the action as the prize pools are still a bit low. This is harmful to the mutual betting system.
This Live Markets section is mostly dominated by Cryptocurrencies price bets but even there the prize banks are quite low. This should be alright for players looking to bet small amounts (anywhere between 5€ to 10€).
First of all, you can try all their casino games for free using their in-built faucet. The faucet provides 0.000001 BTC each 15 minutes which you can then use to try the Slots, Dice or To The Moon game. All of these are pravably fair and you can check their legitimacy following the instructions provided by OneHash.
Slots and Dice are familiar games to casino enthusiasts. Their other game, To The Moon, is quite simple and honestly fun to play.
Every 10 seconds the rocket takes off. You choose your bet amount and click Play. As the rocket goes up, the multiplier increases accordingly. The rocket could crash at x1.3 or at x5.0 but you can opt to leave at any time. So if you bet 1 BTC and the rocket goes up to x2.69 before it crashes (like on the image above), but you leave when the multiplier is at x2.5, you end the game with 2.5 BTC.
During our review we’ve seen the rocket go up to x16!! We reckon that must be pretty rare though (and unfortunately left when it was at x2…).
Although there aren’t many options on their casino everything is well polished and works perfectly.
The platform offers other special events that include predictions about Italy’s next Prime Minister, Conor McGregor’s next opponent or a list of potential summer transfers in European football.
Once again the sin here is the small prize banks that limit players who are looking to bet large amounts on these predictions. The choices are still very limited (to the ones we mentioned above) and in some cases the events have been over for quite some time but there is still a “Waiting for score…” message below them.
Deposits and Withdrawals
Users can request a withdrawal from their OneHash wallet at any particular time point and are eligible for one free withdrawal per 7 days. The minimum wallet withdrawal is 0.005 BTC. For security reasons (resources stored at a cold wallet), each request needs to be manually verified by their Team members before the actual withdrawal transfer is propagated. The allowed amount to be withdrawn from the wallet cannot exceed the current confirmed balance less the amount of unconfirmed funds (in-play resources, resources with blockchain confirmation pending status, OneHash credits). Payouts from anonymous bets are made automatically and do not require withdrawal requests.
There are multiple accounts of successful payouts carried by OneHash. Very little to no evidence suggests that people are victims of scams on their platform.
During our use of their website we had some doubts that were quickly resolved via the Chat Support Option which according to them is available on a 24/7 basis. Also, the answers didn’t take long to arrive. For any other more serious questions you are requested to contact them via e-mail.
OneHash has a very innovative product. Specially their mutual betting system. Thanks to it you can get some really good odds, but you should also pay attention to the prize bank when placing your bet. If the total prize bank sits at 0.02 BTC then there’s no way you can place a 0.1 BTC bet and hope to get a payout of 0.2 BTC. The odds change with each bet because it is a mutual betting system, the multipliers displayed are only informative.
Your winnings will always be equal to:BetxFinal Multiplier(Odd when the event starts)
The mutual betting concept looks very interesting but we feel OneHash should have a more detailed explanation, perhaps including some examples. We had to take matter onto our own hands and try some bets for ourselves to get a good understanding of how it works. In the end we liked our experience and the system works nicely but newcomers might feel a bit lost in the beginning.
The use of OneHash wallet is free of charge as long as the user remains active. Should a user become inactive (i.e. no mutual betting activity nor ‘Live’ section games activity in a period of at least 90 calendar days), a wallet maintenance fee shall be charged monthly in the amount of 0.005 BTC provided that the wallet balance is positive. Furthermore, once a user becomes inactive (same definition as above), all deposit bonus-related OneHash credits are taken away.
Overall, the platform is very well polished and for popular events it works great. For other not so popular sports and events it doesn’t work so well. Their casino has three games and they work very well (we had a lot of fun with To The Moon).
Definitely a must try!