GT Bets Review
In business since 2011 and based out of Curacao, GT Bets has gradually made its way into being one of the better online sportsbooks out there.
Availability, Currency, and Limits
GT Bets deals in U.S. dollars but restricts a number of states from the U.S. along with numerous countries. If you live in New York, Louisiana, Kentucky, Missouri, Washington, Maryland, or the District of Colombia you are restricted. Other countries restricted are Cuba, Canada, Aruba, Sudan, Libya, Somalia, Serbia, North Korea, Myanmar, The Netherlands Antilles, The Netherlands, Israel, Iran, France, Haiti, Iraq, Chad, Syria, and Denmark.
The available sports to bet on are all the major ones in the United States including college basketball, football, and MMA. They also have cricket, rugby, Canadian football, and soccer. You can also bet on any of these from your phone or tablet.
The maximum betting limits are certainly on the lower side. Once you have been an established player you can contact their support team to see about getting your limits raised. Until you do, most parlays, totals, moneylines, and teasers are limited to $1,000. Halftime team wagers are capped at $3,000.
Other Games to Play
GT Bet does not have a poker room. It is however equipped with a casino and online racebook. The casino includes 26 different types of slots, table games, and video poker. Various tournaments are available as well.
In the racebook, the minimum bet is $1 up to $500 and you may not win more than $20,000 on any particular race at a class A Track. At a class B Track the range is $1-$300 with a $15,000 max win. At a class C Track the range is $1-$100 with a $5,000 max win. At a class D Track the range is $1-$50 with a $2,500 max win. If you bet any of the major racing events like the Kentucky Derby, Preakness Stakes, Belmont Stakes, or Breeder’s cup the max win is $20,000. The most you can bet on a standard win, place, or show is $1,000.
How to Deposit
GT Bet offers 8 different ways to fund your account. They are:
Mastercard, Visa, American Express – $35 minimum and the max depends on your player status for all 3. GT Bet does not charge any fee but will not reimburse any foreign exchange fees or other fees your credit card company may hit you with.
Bitcoin – As per usual there is no fee involved to fund from your Bitcoin wallet for sports bets. The minimum is $35 and capped at $10,000.
Pre-Paid Gift Card – GT Bet charges no fee for this method and the range is $35-$1,000. Note to make sure your gift card is eligible for international transactions and not restricted only to the U.S.
Direct Cash and Quick Cash – All deposits upwards of $200 incur no fee. Anything less is $10. The max deposit is $2,000 and you will have to contact the support team to deposit using this method.
Neteller – There is no fee but only available to customers outside North America. The minimum is $25 and the max depends on your player status. Using this method makes you eligible for a 50% deposit bonus up to $500.
How to Withdraw
There are only a handful of ways to withdraw your money and 3 out of the 4 incur a fee. If you are wanting to bet really small amounts for fun, this site probably isn’t for you. The only free method is Bitcoin and that can still have a fee. If you did not deposit with Bitcoin, you cannot withdraw to your Bitcoin wallet for your first 2 withdrawals.
The minimum and maximum withdrawals are $300-$5,000 and only available once every 7 days.
All Bitcoin withdrawals are free provided they are done only once every 30 day rolling period. Should you withdraw a second time, the fee is 5% up to $60.
Note that they only deal with U.S. dollars so anything you lose out on converting to another form of currency is not covered by GT Bet.
BitPay is also available. The BitPay Visa Card lets you instantly transfer money from your Bitcoin wallet to your BitPay Visa card.
Bank wires are available for a $60 fee. Talk to customer service about arranging what details they need. The withdraw range is $100-$5,000 and can only be done once every 7 days. It takes about 12 business days to receive your money.
You can use QuickCash or Direct Cash but the fees are an expensive $50 or 8% of what you withdraw. You can only do this once every 7 days and you will have to talk to customer support to arrange a payment. If you initially deposited with a credit card you may not use this method for the first 2 withdrawals you make. The process is complete in 48-72 hours.
Promotions and Bonuses
For newcomers only there is a sign-up bonus of 100% up to $250 or 50% up to $500 if you wish to deposit larger. The choice is up to you and the minimum deposit is $35 and there is only a 5x rollover. Rollover is adding up the deposit and the bonus amount you stand to gain and multiplying it by 5.
If you opt for the 100% bonus and deposit $100, 100+100= 200. 200×5 =1,000. This means you have to earn a total of 1,000 points from all your combined wagers to receive your bonus. It only being a 5x rollover is substantially lower than what you will see on many other gambling sites. The other big plus is this is a cash bonus as opposed to only a free play offer which is also the standard play from most gambling sites. You will have to validate your Game Time Rewards account after sign-up to receive the bonus.
One special thing to note is any moneyline wager placed on a team that is -300 or better will not count towards the rollover.
There is a 10% rebate given every week on casino losses as long as you have not accumulated any net winnings over the last 30 days.
Every month you will be given a 15% rebate on any losses incurred on horse racing. Once again as long as you have not won in the last 30 days.
There is also a refer-a-friend bonus of 50% up to $400 any time a new player joins because of you. There is a 5x rollover to receive the bonus and you need to have made a deposit within the last 3 months.
Players may receive an automated cash reload bonus directly to their account. The amount varies and you can find out what you’re eligible for on the site. Upon finding out what your reload bonus is worth, you will find out what the rollover requirement is. You must have 25% or less remaining in your account going back to your last deposit and you cannot do this after making a withdrawal.
The most unique promotion featured by GT Bets is for your favorite teams. For NFL, NBA, NCAAF, and NCAAB, you may pick your 2 favorite teams for each sport for the regular season. Once you do, you cannot change who your favorite team is. The offer is you will receive ½ point on every game that team plays. For instance, if your favorite team was the New York Jets and they were +3.5, you would get it at +4, a free half point. This can be a tremendous advantage if there are any teams in any of these 4 leagues that you think could be underrated. Considering a lot of games do come down to that final ½ point, having this cushion on your side can make a big difference.
Note that the maximum wagers will be adjusted for these teams and may only use them for straight bets. You cannot use them on parlays, teasers, totals, halftime, or quarterly wagers.
The Progressive Parlay jackpot pays out a minimum of $50,000 for any successful $5 15-team parlay. The more people lose, the greater the jackpot gets. A funny quirk about it is should you go 0 for 15 on your parlay you still get a $2,000 bonus.
If you sign up for the weekly newsletter you will be kept up to date on all the current promotions that are constantly coming out. They include things like no juice or half juice specials, point discounts on bets, double reloads, game of the week specials, sweepstakes giveaways, double reward point promotions, and even free bets on certain games.