Caibo Review: Scam or Safe?

Caibo is a new crypto casino with a nice and clean minimalistic look that's generally pleasant to browse through. The visual appearance contributed with 0.4 points towards the rating, raising it to 1.4. We gave the casino a low ranking for a number of reasons, including the limited payment methods, the lack of a license, the contradictory TCs and the unconvincing gaming library. If it wasn't for that, we would give it a much higher score as Caibo also offers sports betting, which is generally a preference to us – the author always find it better when a casino has Sportsbook section. Anyhow, with no further ado, let's see and explain all the details you need to know about Caibo.

Languages: English, Chinese

Bonuses

Caibo doesn't have very many bonuses. The promotions are reduced to a welcome offer spread over the first three deposits. There aren't very many details about this promo, so it seems that the bonus money can be wagered in Casino, Live Casino and Sportsbook. Before we get to the prize, there are a few repeated conditions.

Firstly, the minimum deposit for any bonus given away by Caibo is just €10 or equivalent. Secondly, the wagering requirement is 45 times the bonus for both cash and free spins. Thirdly, no cash-out limit is specified, so it's not known whether there is a cap on winnings or not. Whatever the case, the most important thing to note is that Caibo shares too little information about the bonuses, and some of the details are potentially false and misleading.

For example, it's said that the maximum cash bonus is 10 000 USDT. At the same time, however, once players deposit money (only crypto is allowed), the funds are automatically exchanged into EUR or USD. Caibo states that the conversion is carried out since some slots in the library do not support crypto wagering. Then comes the question. How can the bonus be 10 000 USDT (Tether) when crypto is not available for wagering? There is something wrong with Caibo.

Anyhow, see the prizes for each stage of the welcoming offer:

1st Deposit Bonus – for new players only. Upon the first deposit the prize is said to be 100% up to 10 000 USDT and 100 free spins on the slot Aztec Gems by Pragmatic.

2nd Deposit Bonus – for the second deposit, the prize is 75% up to 7500 USDT and 75 free spins on the slot Lion Gems by Playson.

3rd Deposit Bonus – for the third deposit, the prize is 50% up to 5000 USDT and 50 free spins on the slot Aztec Gems.

Looks great, doesn't it? In total, the promised maximum cash is up to 22 500 USDT, which seems fantastic. That however, is the information from the Promotion page. According to Bonus TCs document, the prize for each of the three promotions should be 10 000 USDT, making 30 000 USDT in total. The information from both sources is contradictory, so we caught Caibo providing false information for a second time. This casino isn't good, and shouldn't be trusted.

Before we continue, keep in mind that all the information in this section is based on Caibo's claims. We cannot confirm that the actual bonuses offered by the casino will be the same – the same prize, the same deposit requirement, the same wagering etc. Caibo is not trustworthy, so think twice if you are attracted by the seemingly lucrative bonuses.

License

Caibo states that it's a licensed casino, but that just happened to be yet another false statement. As seen from above, the casino is not licensed, so it's not guaranteed that safe and fair gaming environment will be provided for players. The lack of a license is not a good sign. On the other hand, however, the problem is on a totally another level if a casino falsely claims to have a license. Caibo is not fair house. The people operating the casino are lying openly, so the trustworthiness index of Caibo is at the lowest possible level.

Speaking of licenses and regulation, there are three countries setting the standards for online casinos. If you are looking for gambling houses that are guaranteed safe, you will most likely come accross gambling houses licensed in the UK, Malta or Curacao, with the largest number coming from the Caribbean island. UKGC in Britain and MGA in Malta are considered the top-tier casino regulators. The Maltese authority  is known to guarantee the protection of minors and vulnerable players, safeguard players’ rights, promote responsible gaming in a safe environment, ensure the integrity of games and gaming devices, and keep gaming free from criminal activities. Casinos authorised by MGA are supervised efficiently, and all the games offered are guaranteed to have certified RTP. All slots are run by RNG (Random Number Generators), which generate completely random and unbiased results, ensuring authenticity and fairness for players during gameplay.

And then, we shall also discuss Curacao and its unique licensing regime. The regulators on the island do not register, license and authorise casinos by themselves, but have delegated the task to private companies. Four such companies are currently in operation – Antillephone, Gaming Curacao, E-Gaming and CIL. They are also known as master holder operators, which sub-license casinos and allow them to offer gaming and wagering. Some consider Curacao' approach loose, but there are certain benefits we shall allude to. Overall, he process is cheaper and much quicker, which explains why the number of casinos registered on the Caribbean island is growing exponentially. Also, the capacity increases as four independent companies take care of casinos instead of one government body. Also, the favourable tax regime makes Curacao even more attractive, as lower taxes and more liberal corporate system give casino the means to offer more bonuses and possibly more games.

Restricted countries: American Samoa, Aruba, Australia, Austria, Bonaire, Sint Eustatius and Saba, Curaçao, France, French Guiana, French Polynesia, French Southern Lands, Germany, Guam, Netherlands, Netherlands Antilles, New Caledonia, Saint Martin (French part), Sint Maarten (Dutch part), Spain, United Kingdom, United States, United States Minor Outlying Islands, Virgin Islands, U.S.

Deposit and Withdrawal

Currencies: Euro (EUR), US Dollar (USD), Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE), Tether (USDT), XRP, Binance Coin (BNB), Cardano (ADA)

Caibo accepts only cryptocurrencies for deposit, which is a downside. Good casinos offer various methods including both fiat money and crypto. Usually, we expect that deposits from credit/debit cards, bank transfers, crypto, e-wallets, prepaid cards and mobile would be accepted. Well, Caibo doesn't want to take anything different from crypto, so it's rating gets even lower.

The good thing, however, is that the minimum deposit is said to be even lower than €1 – for example, 1 ADA is said to be the minimum for Cardano, which is roughly €0.25. A maximum is not specified.

Each transaction is free and instant.

The withdrawal methods are also cryptocurrencies. And now, let us talk about another controversy. According to FAQ page, the minimum withdrawal for ADA is 1 unit (€0.25). According to TCs, however, the minimum withdrawal amount should be no less than €10. Which one is correct, we don't know. What we know, though, is that it's a risky idea to deposit, wager and withdraw money from an untrustworthy place like Caibo. Maximum withdrawals are not specified.

On the other hand, the withdrawal limits are clearly designated – €10 000 per month in general. If the balance is 10 times higher than the combined deposits (in other words, very lucky players), the monthly limit would be €5000. Not the best conditions, we shall say.

The rollover requirement is 1 time, meaning that all deposits by a player should be wagered once before a withdrawal. Failure to meet this condition will result in an 8% withdrawal fee. Withdrawals of players who have completed the rollover won't be charged.

The fee for inactive accounts is €5 per month after 12 months of inactivity. At least, that's what they claim, and if you read carefully you will know that Caibo's claims are not to be trusted.

Games and Game Suppliers

Game providers: PragmaticPlay, Gamzix, Wazdan, Play'n GO, Playson, AvatarUX, Betsoft, Kalamba, Blueprint, Push Gaming, Retro Gaming, Red Rake, Spinomenal, Hacksaw, Spribe, Fugaso, Habanero, Evoplay, NetEnt

Caibo works with some of the leading gaming providers like Pragmatic, Play'n GO and Wazdan, which is good. On the other hand, there are some issues, here, as well. First off, there isn't a comprehensive list with providers in the Casino directory, so all seen above are confirmed through a manual check. That, however is a minor issue. The bigger problem is that Bonus TCs have a list with studios and games that are not available in bonus wagering – a list filled with fakery.

For example, Caibo states that some games from the studios 1×2 Gaming, Microgaming and Booongo do not count toward bonus wagering. Once we searched for those providers, we were unpleasantly surprised to see that not a single game provided by them was found present in the gaming library. Simply put, Caibo once again give false information. This casino really looks like a scam.

Anyhow, it's a good feature that some of the best slots like Gates of Olympus, Book of Ra deluxe 6, Razor Shark, Big Bass Splash, The Hand of Midas and Book of the Fallen are available. Some new slots in the library include Sugar Monster, Golden Glyph 3, Bikini Island Deluxe, Wolf Fang – Ancient Greece, Book of Tut Megaways, Demi Gods V, Wild Oktoberfest, Steps to Heaven, 777 Sizzling Wins: 5 lines, Scales Of Dead, Frozen Tropics, Lost Relics 2 etc.

The Live Casino includes variations of classical table games like Poker, Baccarat, Blackjack and Roulette. There are Live Shows, too, including names like War Of Bets, First Person Deal or no Deal, Dead or Alive: Saloon, Wheel Of Fortune, Lucky 5, Dice Duel, etc.

There is also a Sportsbook section, including Soccer, Basketball, Tennis, Baseball, Ice Hockey, Handball, Formula 1, Volleyball, Futsal, Rugby, American Football, Snooker, Boxing, MMA, Badminton, Table Tennis etc. The number of Soccer matches to bet on, however, was not so huge – only 260. At the same time, some good casinos were offering more than 1600. The difference is huge.

Conclusion

Once we entered Caibo, we were pleasantly surprised by the clean and orderly look of this house. The more we browsed through it, however, the more disappointed we would become. The license of the casino happened to be invalid, the bonus conditions were filled with contradictions, the deposit/withdrawal conditions are bad, and on top of that, on numerous occasions, we found false information. Caibo is not a good casino. Find a better one instead, and play responsibly.