A newcomer to the trading industry, BetOnFinance knew they had to offer something very different if they were to succeed in this business. And offer it they did! This company takes a completely new approach to the whole trading process and introduces the concept of financial pool betting to the market. This BetOnFinance review will explain that and absolutely everything else you need to know about the way these guys work. Our team has spent a lot of time examining every single part of the company’s website, the place where everything happens, and they have some very interesting information to share with you. If you’re looking for something different and exciting, this is most certainly the solution. Read on!
BetOnFinance Review | What is pool betting?
To help you follow this BetOnFinance review more easily, we will first explain what pool betting is. This concept is most often used in horse racing and allows players to bet on one of the offered outcomes. The payouts are not fixed, but vary depending on how many players choose a particular outcome. In our case, if just a few traders invest in one of the offered options they will stand to make a lot of money if their prediction turns out to be correct. The more people invest one option, the less profit will be paid out to them if they get things right, so essentially everything boils down to probability, but this probability is based on how many people choose a certain outcome. If you can find an option that was not chosen by too many people and it turns out to be correct, you can multiply your initial investment several times. That’s the main advantage of this way of trading – payouts can be much higher than in regular binary options. If you can react when you see that most other people are wrong, you could indeed win a lot. There’s also a pretty neat catch to all this: pool betting is classified as a gambling product, not as a financial product, although you do in this case invest in the outcomes of events on financial markets. The reason why this benefits you is that everything you make is exempt from taxes (at least that’s how things are done in the EU) and you retain all your winnings, no matter how big or small they are.
BetOnFinance Review | Available games
So which BetOnFinance pool games can you choose here? Well, at the moment, there are four main types of games, but it wouldn’t surprise us if the company comes up with some new choices in the near future. Nevertheless, the options you have at the moment are more than enough to have fun and make some money in the process. We must also mention that the platform all these games are based on was developed by the company’s own team. It works absolutely flawlessly, without the slightest glitch, so we can only congratulate these guys on a job well done. But let’s get back to the games. First, you have the Stock Race – all you have to do is guess which stocks will end up in the top three and which will be in the bottom three, i.e. you have to guess which stocks will perform the best and which will perform the worst on the market. Apart from that, you have the IPO game, where your task is to predict the behaviour of an IPO (initial public offering) price. You can also bet on indices and try to predict by how much they’ll go up or down. Of course, you don’t need to guess exactly by how much an index will move, but only give a rough estimate. Therefore, you can choose a move between 0 and 0.25%, 0.25% and 0.5%, 0.5% and 0.75 etc. Finally, there’s also the game where you guess which CEO of a big company will be sacked next. In the event that a game has no winner, the prize pool will simply roll over to the next game and you will compete for even bigger prizes in the next round. As you can see, there are plenty of options, but our BetOnFinance analysis is just getting started.
BetOnFinance Review | Is BetOnFinance legit?
Is BetOnFinance a scam? If you asked yourself that after hearing about this new type of trading, this is the paragraph for you. And we have some really good news in this respect. First of all, after testing all available games we can say that they all work just fine. The information you’re given is 100% accurate and absolutely no attempts were made by this company to influence the outcome of a game or to manipulate things in any way. Simply, what you’re promised is what you get. The same can also be said for the money transfer methods, but we will talk about them more a little later on. For now, we will just say that our funds always got where they were supposed to go without the slightest problem or delay. On top of all that, the company is regulated by not one, but two different regulatory bodies. Given that they were launched in Denmark, BetOnFinance has received a license from the Danish Gambling Authority, but they are also regulated by the Malta Gaming Authority, since the company is currently based in Malta. With these two licenses, there should be no doubt about how legitimate this company is, especially because the MGA is well known for its strict criteria. This BetOnFinance review is therefore shaping up to be quite a positive one, but let’s now take a look at the financial requirements.
BetOnFinance Review | Numbers
Compared to most binary options brokers, this company has some remarkably low financial requirements, so we simply had to dedicate a separate paragraph to them in this BetOnFinance review. You see, to open an account, you only need to make a BetOnFinance minimum deposit which is set to only 20€ (apart from euros, the company also accepts Danish and Swedish currencies). Since most brokers ask for at least ten times as much, the advantages of trading here become obvious. Furthermore, you only need to invest one euro to participate in a game, which is again lower than most minimum trade requirements in the binary options industry. Given that you can also win more than if you’re trading classic binary options, it seems you really should give this company a go.
As for the methods you can use for BetOnFinance deposit and withdrawal, you can choose between several Visa and MasterCard types of credit cards, as well as online payment systems like Neteller, Truslty or Skrill. Just keep in mind that only the first withdrawal of the month is free of any charges, while all subsequent ones will carry a small fee (5€ or 1% of the amount you withdraw). Also, remember that the house will always take 10% of each pool once the game becomes closed for any further betting and possible profits are determined. Keep reading, our BetOnFinace tests continue.
BetOnFinance Review | Documents required
As is usually the case with companies like this, you will need to provide some documents to complete the withdrawal, so let’s go over this topic to show you what you need. First of all, documents are necessary because they show the company that you are of age and allowed to legally conduct investments of this kind. Every piece of information you provide when creating your trading account must be verifiable, so don’t make the mistake of using some made up name or address because you won’t be able to withdraw later. You will need a copy of your ID, of the card(s) you used to deposit and a proof of address (a bank statement is perfect for this, but even a utility bill will do). If you do not provide these documents when asked to (the company performs regular checks), you risk getting your account suspended, all based on the KYC policy dominant in the EU. Now that this is out of the way, we can focus on more interesting parts of this BetOnFinance review. Want to know how to increase your account balance quickly? The answer is in the following paragraph.
BetOnFinance Review | Bonuses
Another thing related to your trading funds is the BetOnFinance bonus policy because it allows you to increase the amount of funds at your disposal with relative ease. There are two main types of bonuses you can get from this company: the welcome bonus and the reload bonus. The first one allows you to double what you deposit into your trading account (up to 200€), whereas the second one will give you 50% of your initial deposit (up to 150€) at the beginning of each month. We should also mentions that you can expect new campaigns every now and then, so the chances are these won’t be your only options to improve your account balance. Of course, if you know anything about the trading industry, you will know that bonuses like these usually come with some conditions you have to fulfil in order to withdraw them. Well, this is the case here too, but the good news is that the requirements are extremely low in this case. You only need to wager the deposited and the bonus amount five and four times respectively and the extra funds will become accessible to you. You do have to do it within 60 days, though, but that’s really not a problem on this website. Again, compared to usual brokers, these requirements are much lower because many “standard” brokers will ask for a turnover of 20 or 30 times or even more before they give you your bonus. And don’t worry; this wouldn’t be much of a BetOnFinance review if we didn’t test the whole system ourselves. Everything works absolutely perfectly, and our money was delivered to us without the slightest problem. Stay with us, we’re not done yet!
BetOnFinance Review | Excellent support
Support can really play a huge role in determining a company’s reliability, which is why we included it into this BetOnFinance test. And right from the start we were very pleasantly surprised because these guys have gone the extra mile to make sure nobody gets into any problems while playing here. For example, they can help you set up a daily limit if you have problems with self-control, and there’s also the self-exclude button which will make you take a break from playing for a certain amount of time. There are even filters you can download from this website that will block other similar websites and prevent you from going elsewhere to spend your money, as well as make sure no underage persons can access the games. In addition, the company also cooperates with organizations like GamCare and Gambling Therapy to make sure you can always access help if you need it. As you can see, you and your health come first here.
But even without all that, the support is still very good. You can contact the company via Facebook, Twitter or e-mail and expect a quick and thorough answer from them every time. The team is very well trained and will solve all your problems in a flash, so you can always rest assured you are in good hands. And now, let’s move to the next part of this BetOnFinance review, shall we?
BetOnFinance Review | Details that help you
Even after all this, we still have things to discuss. It’s interesting to note, for example, how many details on this website are there to help you enjoy your experience as much as possible and to quickly get a grasp on things. You can read interesting news every so often to stay in touch with the latest market developments, which will help you choose the right option in all of the aforementioned games. What is particularly interesting is that you have several categories of articles in the news section, including BetSchool and Player Interviews. These texts add much more depth to the website because the first group teaches you the tricks of the trade (like where to find market data, which stocks are considered to be volatile and stuff like that), while the second gives you honest accounts of other players’ impressions. They also have a very detailed How to Play section on the website with loads of FAQs for every available game, plus you can also find out absolutely everything about the way things work there. If you don’t have the time for reading, simply watch a few educational videos on that page and everything will become crystal clear in a matter of moments. In short, everything you need to know is readily available, one way or another. We’re now almost done, but before we wrap our BetOnFinance review up, there is one more very important thing we have to mention.
BetOnFinance Review | Who can join?
Although this company is really very customer-friendly (which we have hopefully shown in this article), people from some countries are unfortunately not accepted. We must stress that BetOnFinance is not doing this out of spite or some other ridiculous reason, but because these countries have not yet regulated their trading markets in such a way that would allow this company to become a part of them. More notable names on this list include France, UK, US, Spain, Italy, Greece and Hong Kong, but countries like Afghanistan, Syria, Sudan, Tunisia, Ethiopia, Iran and Iraq are there too. Check if your country is accepted by the company to be sure you can participate in all of the games and keep in mind that lists like this one are prone to changes. With that, we think we have more than enough information to conclude this rather lengthy BetOnFinance review, in a positive way of course.
BetOnFinance Review | Conclusion
Even though BetOnFinance has been in the trading industry for only about one year, it has already made quite an impact on the trading world. The combination of financial markets and pool betting has allowed the company to create an absolutely unique environment for their clients. You have plenty of ways to invest, and the financial requirements are really not very high, so literally everyone can join in on the fun. The platform was developed by the company’s own team of programmers and BetOnFinance has two different licenses verifying their reliability, which means you can be absolutely certain you will be well taken care of on this website. Absolutely everything is done to accommodate players here, and the broker is especially careful that you don’t overdo things and that no minors ever gain access to an account. That’s probably what we liked the most during our time with this company, the sense that they really care about how you play and about your enjoyment and well-being in general. You can see that in small details, like the news section, the amount of questions they have answered in the FAQs and the speed and diligence with which the support team answers all your questions. Hopefully, our BetOnFinance review has shown you everything you want to know about this company because the only thing left for us to do is to recommend that you open an account on this website right now. Good luck!