Ideally, I would like to see a few more altcoins accepted, although Bovada does allow you to withdraw by Bitcoin Cash. With regards to Bovada’s payout times, expect Bitcoin withdrawals within minutes of them being processed. If you choose to withdraw by check, expect your check within 10 days. The minimum withdrawal is $20. Bovada takes roughly 24 hours to process a payout request that is made by a player, and once authorized, is immediately sent at the payout request that was previously made. Bovada Withdrawal Fees Check + Bank Draft Fees - A courier check through DHL, FedEx or UPS typically comes with a fee of less than $30, but could vary depending by the amount.

Many people wonder Is Bovada legal in the US? Bovada is legal for all USA players, and it always has been since its creation. The reason why Bovada is legal to use as a gambling outlet in the United States is that Bovada is located offshore. Offshore sport betting sites do not have to follow any laws in the United States.

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This means that United States residents can bet on spots. When someone places a bet in the United States it is technically made in Costa Rica not the United States of America. Bovada is also legal in all 50 states. Bovada can run into some troubles with accepting players from certain states because of banking issues, but these issues have nothing to do with legalities.

Legal Age to Place Bets On Bovada Accounts?

The minimum age to create an account with Bovada is 18 years old. There are some states in the US that require the minimum betting age to be 21. Anyone placing a bet on Bovada who lives in a state that requires gambling age of 21 years of age cannot use Bovada until they are 21 years old.

Is It Safe To Use Bovada Gambling Outlets?

Bovada holds a License for legal gaming. Several independent third parties also regulate them in order to ensure that their sports books and games are legit.

Bovada Review

Gamblers online have provided mixed messages on Bovada reviews. The website is rated at an overall 2 stars. Some gamblers say that they provide fast payouts and a huge verity of games to choose from. There are also customers who review that the payouts happen in a fast manner. Some gamblers were skeptical at first, but after they made their first deposit and began gambling, they realized that there is a potential to lose and win. The nice thing about gambling with Bovada is the fact that they accept Bitcoin as a form of payment.

What is Bovada?

Bovada began to provide online betting outlets on gaming entertainment in 2011. People can access Bovada gambling online to place real bets in their “sportsbook”, “racebook”, or play Vegas casino games for monetary gains, or loss.

Sportsbook

Over the past five years, 282,465,789 bets where placed using Bovada sportsbook. People can place bets on nearly anything including major sports leagues. There is also the option to place bets on an obscure event that takes place in other parts of the world.

Horse Racing

Horse racing enthusiasts can use Bovada to place bets on a selection of 94 tracks. There have been 132,560 individual wins paid out since December 2011. These numbers are outstanding to consider because individuals need to predict the top four racehorses in order that finish winning the race line to win their bet.

Casino Games

Bovada online betting is a hot spot for gamers looking for a fast thrill. Blackjack tables have been the most popular table game. Since 2011, Bovada has served 1,198,909,137 rounds of blackjack and these numbers continue to rise. Bovada also offers online slot games and are always looking to add new slots to their website.

I’ve got some exciting news for you! Bovada has announced the release of a new Cash Out feature for its sportsbook. This option has been available to players from other parts of the world for years now, but it’s the first time that US bettors will have it at their disposal.

I think that’s a good reason to take a closer look at how cash out works, including the pros and the cons of the feature. Since I regularly travel between the USA and Europe, I’ve used it in the past. For this guide, I will be speaking from personal experience.

Before I explore the best and the worst of Cash Out, let me just clarify that Bovada has released it for both pre-game and live betting for several popular sports for now. Considering the rapid rise of the innovation in Europe, I expect to see Cash Out available for most events and betting markets soon.

Let’s start with a simple explanation of the main concept behind the feature. Cash Out allows each player to close a wager before the event is finished. For example, let’s say that you back the Warriors to beat the Rockets in a game from the NBA regular season.

The encounter is close and the Warriors are slightly ahead with five minutes left, so you don’t want to risk it. Instead of waiting for the game to finish and potentially losing everything, you can now use Cash Out and settle your bet right there.

Naturally, you won’t receive the same return as you normally would if you wait for the Warriors to win the game. However, since they are ahead, you will most certainly lock a profit.

It’s possible that you could actually Cash Out at a loss, too, if the Warriors were losing the game when you used the feature.

I’m sure that some of you have been using similar tactics in the past, just not automatically. In the example above, you can achieve the same result by backing the Rockets to win the match with a second bet. However, it takes time and effort to calculate the exact stake so that you get the desired return.

Furthermore, the odds change frequently once the event is live, and there are some markets that aren’t so straightforward. The Cash Out feature solves all of these issues by giving you the opportunity to close the wager with a single click.

Such flexibility can be really useful, but it comes at a price. You are giving up on some of your potential profits and some of the value you found initially when you use the Cash Out feature. With that in mind, let’s move on to the advantages and disadvantages of Cash Out.

Here are the positives of using Bovada’s new Cash Out feature.

Every experienced gambler knows that sports betting includes a lot of variance. Even if you are a long-term winner with a proven system, your results depend on luck in the short run. We’ve all been on the receiving end of last-minute winners for the other team or other dramatic events right at the end of various sporting events.

It’s extremely frustrating, and it could cost you a lot of money. Additionally, there are cases in which you simply have the nagging feeling that something bad is going to happen. Well, you can now do something about it with Bovada’s Cash Out option.

You can avoid the late comebacks and watch the rest of the game as a mere spectator. Simply close the bet and enjoy your profits. Of course, Cash Out can also be used in the opposite situation, when things aren’t going your way. There are some dire situations when you’ve completely written off your bet. After the release of the new feature, you can save some of your initial investment by closing the wager.

What Cash Out achieves with only one click is remarkable. Most pro users have been doing all sorts of gymnastics to execute techniques like green markets, hedging, and similar for years. You can now get the same result with only a few clicks.

Simply imagine the following. You place your wager and start watching the game. You want to secure your profits, but Cash Out is not available. You need to calculate the exact stake based on your initial investments and odds, as well as the current price.

By the time you do it, the odds will probably change, and you’ll have to start all over again. It’s a risky and time-consuming endeavor. Or at least it was before Cash Out was released. The feature allows you to instantly close the bet.

I firmly believe that one of the best uses of Cash Out is to secure big hits. There are different scenarios here, like placing a wager that’s unusually large and important for your bankroll or going after a fun bet on an insane price.

The point is, there are occasions in which there’s a lot of money on the line. When that happens, you better not leave it only to luck. If things are going your way, the wise choice would be to give up on a small portion of your winnings and collect the rest.

A lot of people love the Cash Out feature and use it all the time, which is a huge mistake. The reality is that the betting sites are pushing the option for a good reason. You will understand what I mean after I go through the negative sides.

My single biggest issue with the Cash Out feature is that you are giving up on value. The bookmakers are not offering a fair price, because they apply a certain margin. To understand this better, let’s look at an example.

Let’s say you place $10 on a price of +100 on the Warriors to beat the Rockets. Your expected return is $20. The game starts, and everything is going according to plan. The Warriors are leading by 10 points in the middle of the fourth quarter.

They are a huge favorite to win at this point. For the sake of the example, let’s assume that they are exactly an 80% favorite to grab the victory. That means, once you’ve reached this particular point, you have an 80% chance of winning $20 and a 20% chance of losing everything.

The simple calculation shows that your initial $10 wager is currently worth $16. The problem is that the bookmaker won’t give you $16 to Cash Out. You will be offered something in the region of $15.20 to close the bet. Essentially, you will “pay” $0.80 for the service, and that’s not worth it in the long run. Using the Cash Out feature too often can have a negative impact on your long-term results.

Bovada Payout Problems

I don’t think that Bovada has changed the terms and conditions of the current bonuses and promotions to include the Cash Out feature yet, but based on my experience with European bookmakers, I’m sure that’s inevitable.

Simply put, the bets that are paid out with the Cash Out feature don’t count for the wagering requirements of the special deals. If you’re clearing a bonus, using the feature will slow you down significantly. It’s not the end of the world, but it’s something you should consider.

Problems With Bovada Payout Checks

That’s important since Bovada just changed its Bitcoin welcome bonuses, and some of you might want to take advantage of that. You now can obtain 75% of your first deposit up to $750 for sports betting and 125% up to $1,250 for casino games.

It’s time to try and answer the big question. Should you use the Cash Out feature? Well, that depends. You shouldn’t use it frequently, and you should be selective, but that doesn’t mean to ignore it altogether. There are several situations that can be considered.

The first and obvious one would be to secure significant profits. If there’s a ton of money on the line, you should certainly contemplate Cashing Out.

The other scenario would be to actually find a situation in which there’s positive value for you, similarly to the way you discover it in your standard bets. If you think that the probability of a certain outcome is higher than what the return from the Cash Out feature suggests, go for it.

Does Bovada Payout To Us Players

Finally, sometimes you simply need a win to end a bad streak. We’ve all been there, and it’s good to make money from some of your wagers when that happens. You can restore some of your confidence, regroup, and move on.

My honest opinion is that having the Cash Out feature at your disposal is better. I expect more of the leading US betting sites to include it in the near future now that Bovada has opened the floodgates.

Bovada

You can visit Bovada to check this feature out for yourself. Be sure to take advantage of it, but always be sensible with your wagers!