5588bet Review: Scam or Safe?

5588bet is a low quality casino, and potentially a dangerous place that's operated more like an MLM scheme and less like a gaming house. What we mean by that is that there are numerous referral bonuses given away if you bring people to 5588bet. The more you refer the bigger the bonus. Generally speaking, not all referral MLM schemes are necessary bad, but 5588bet is just too focused on that and it makes an impression.

Another thing making 5588bet potentially unsafe is the lack of license. In fact, 5588bet is completely anonymous and they do not even provide TCs document, which makes the situation ever more suspicious.

And that's not all since we could see games from unverified providers. One example is striking as some studio called JDB Slots (do not confuse it with JDB Gaming) offers a slot called Aviator that's an absolute copy of the original Aviator by Spribe. Now, a gaming provider imitating the name of a popular studio delivers an imitation of a very popular game. That is really fishy, and right now, we can tell you that 5588bet is not a place you want to visit and play games!

Anyways, in the following review we'll discuss all details about 5588bet, and subsequently reveal even more problems, so let's start with the bonuses.

Languages: English, Portuguese

Bonuses

The bonuses are way too many to consider trustworthy. We counted some 50 promotions altogether, including welcome bonuses, referrals, special promos, telegram events, facebook events, you name it, but there is one very big problem.

None of the promotions is properly specified, and we can only guess what the bonus is all about. Indeed, the casino does not even have Terms and Conditions document, or Bonus Policy document, so we cannot say anything in particular about the promos. More so, in most of the cases, even the prizes were not announced, which is yet another worrying sign to note.

Think it that way. You go to an anonymous and unlicensed casino to claim some unspecified bonuses after you make a deposit. This scenario doesn't seem legit, and it's even really shady. Be careful with 5588bet. It doesn't look like a fair and safe casino. Now, see the few details about the bonuses we could collect, and note that wagering requirements and cash-out limits are not specified for any promo whatsoever:

No Deposit Bonuses – 5588bet offers 4 no deposit bonuses, which is great, generally speaking. The total prize, however, is not great, at all. You can get up to 13 BRL from all no deposit bonuses, which is practically nothing, and a waste of time, honestly speaking. 13 BRL are €2.4 or $2.6, and we do not talk about a single promo. See more:

• Register an account and get 3 BRL ($0.6)
• Install the mobile app and get 5 BRL ($1)
• Save desktop shortcut and get 3 BRL
• Set contact method like Facebook or Telegram and get 2 BRL ($0.4)

Deposito Inicial – apparently a welcome offer for new players. The prize, however, is subdued and depends on the deposit size – from a little more than 10% to 30%. The deal is that you can get up to 5588 BRL but only if you deposit 50 000 BRL or more. If you deposit only 10 BRL – the minimum requirement, you get 3 BRL as a bonus.

Deposit Bonus – some sort of a reload with only the prize being designated – 2%. Nothing else is revealed, including the minimum qualifying deposit.

Mystery Bonuses – in this promo, you should go to Telegram, join the channel and do some things, probably complete missions or do tasks to get up to 8888 BRL as a bonus. That happens to be the highest prize, but the bonus is anything but clear.

Rewards – you can get some rewards, and that's the only thing we can say about this bonus. There is a Rewards Dashboard, in which you can track your gains, but since nothing has been specified for this programme, we cannot comment any further.

Rebates – almost identical to Rewards. In the same fashion, you can track your progress in the Rebate dashboard and get some bonuses. No prizes are specified, or any other conditions.

Referral Bonuses – now, this is the main main thing in 5588bet. You can create your own agency and get commission when players you refer make deposits, gamble or do any other tasks. And the agency is precisely an MLM scheme as you can increase your rank and become A Level, B Level or C Level (the lowest rank) subordinate. While climbing, you will get commission from your own subordinates and so forth. We understand, that's a business model to bring more clients. The problem with 5588bet, however, is that its operations are focused on this MLM. And it's not only the subordinates and levels. There are more than 10 separate bonuses advertised by 5588bet for bringing new people. That's worrisome! Be careful with this casino!

License

5588bet is totally anonymous and operates without a license. They state that their company 5588Group is registered in Curacao, but we couldn't verify that and 5588bet remains an anonymous and unlicensed gaming house. Wagering in such places is dangerous for various reasons, including:

• No regulation – unlicensed casinos are not regulated by any authority, meaning there's no guarantee that the games are fair or that the casino will let you withdraw your money. It's unlicensed, which means that no one can make them follow any rules.
• Security – unlicensed casinos may not have strong security measures protecting players' personal and financial information.
• Legal issues – gambling at an unlicensed casino can be illegal depending on your country's laws. Therefore, you may face legal consequences if you wager in unlicensed casinos.
• No disputes – if you have problems with an unlicensed casino, you have no way to initiate a dispute since they are not accountable to any regulatory bodies.
• Unethical practices – unlicensed casinos might employ unethical practices, like offering rigged games or using deceptive advertising. And since they are unregulated, no one can stop them from being unfair with players.
• Addiction and financial risks – unlicensed casinos might not offer responsible gambling tools, such as self-exclusion, for example. If you end up wagering in an unlicensed casino, the risks are definitely increased. More so, some unlicensed casino intentionally promote and encourage irresponsible playing.

And that's not all and it gets even worse, as 5588bet shows typical red flags for a scam. The casino has put the logos of Gaming Curacao – a casino licensor on the island, and the Maltese regulator MGA. Those are not seals for verification, and we can swear an oath that 5588bet has nothing to do with those authorities. The casino falsely pretends to be a licensed gaming house, and that's a significant red flag! Have a look:

Restricted countries: United States, United States Minor Outlying Islands

Deposit and Withdrawal

Currencies: Brazilian Real (BRL), Tether (USDT)

The deposit policy of 5588bet is poor. Only two methods are accepted – PIX and USDT. The minimum deposit is favourable only 5 BRL, while the maximum could be up to 500 000 BRL for crypto. The requirements are good enough, but do not compensate for the lack of funding methods.

The withdrawal policy is a complete mystery. As mentioned, the casino has no Terms and Conditions or other legal documents designating all requirements, so we can't tell you a single thing about withdrawals. In addition, upon our registration, the Cashier didn't provide any info for cashing out whatsoever. All in all, there is not a single detail about minimum withdrawals, maximum withdrawals, limits if apply, fees, processing time, rollover requirements or inactivity accounts. That being the case, every deposit you make will be exposed to significant risks. On the one hand, you have no info on any conditions, that's obvious. On the other hand 5588bet is anonymous and unlicensed, so it shouldn't be trusted in general! This casino is definitely a place you'd better not visit.

Games and Game Suppliers

Game providers: PGSoft, CQ Gaming, PragmaticPlay, Microgaming, Evolution, Ezugi, Other

More red flags here. To begin with, the casino doesn't work with many providers, so it's library is very thin, that's a downside. The more significant problem, however, is that some of the providers are unverified and rather suspicious. We already told you about the impostor JBD Slots – a studio that imitates JDB Gaming, and Aviator. That's not the only game that seems fake, however, and that's worrying. The lobby of 5588bet is not to be trusted, but since we are here, we'll give you the titles of some games, you can play.

• Slots – 5588bet works with some leaders in the industry like Pragmatic, so one can find very popular games like Gates of Olympus, Big Bass Bonanza, Sugar Rush, Might of Ra and Spaceman. We tested those games, and they seem genuine, but we cannot confirm that everything's fine with them. After all, 5588bet is a highly suspicious anonymous and unlicensed casino. You should be cautious at all times.
• Live Casino – Pragmatic Play, Evolution and Ezugi deliver live casino games to 5588bet, so in the lobbies of both, players can find many real dealer tables of classical games like Blackjack, Baccarat, Roulette, Andar Bahar, Sic Bo, Dragon Tiger and others. Game Shows are present, too.
• Game Shows – Crazy Time, Sweet Bonanza CandyLand, Mega Wheel, Treasure Island and Boom City by Pragmatic are open for play.
• Blockchain – instant win games like Limbo, HiLo, Dice, Mine, Crash and others are offered.
• Sports – 5588bet offers sports, but it's delivered by some third party provider and once you click on the section, you get redirected to another website. And there is a problem since the domain is generic and there is absolutely no info about this website. That's fishy!

Conclusion

After our thorough review, we can conclude that 5588bet is not only a low quality casino but a dangerous gaming house! They offer fake slots, fishy sports betting while operating the casino as an MLM platform. The payment policy is also bad enough, so we don't see a reason why anyone would ever play in 5588bet. Find a better house instead, there are many to choose from. Just go to Scamosafe and find the casino that suits you best!