GoldenSpin Review: Scam or Safe?

GoldenSpin is a new casino that is supposedly licensed in Curacao. The more we dug, however, the more we became certain of the fact that there is currently no way of confirming this and that there is a huge chance that this is not a regulated casino. Moreover, they do not have anything to offer in terms of good conditions – their game library was a huge disappointment and featured very few games, and there was absolutely no information about promotional offers. The casino did not even provide any sort of legal documentation which is very bothersome and does not speak well of this house.

GoldenSpin Bonuses

GoldenSpin did not provide any clear information about the promotions it offers. The Bonus Policy and the Promotions page on the website are not currently active so all the information we got, we got from a few pictures advertizing different bonuses on the website. When we requested more information about bonuses from customer support, we were informed that a bonus would be available after a deposit – and nothing more. This is far from satisfactory – always make sure to get acquainted with a casino's bonus policy before accepting a promotion.

The fact that this casino offers so few promotions is also very disappointing. Most casinos offer Welcome Packages that allow players to receive bonuses on their first few deposits as well as various Reload Bonuses, Cashback, and Rakeback programs, No Deposit Bonuses, Referral Programs, Surprise Bonuses, and sometimes Birthday Bonuses and Anniversary Bonuses.

Here is the scarce bonus information we were able to gather from this casino's website:

The casino offers to double your first deposit of $30 – which means a 100% bonus of up to $1000 and gives you an additional 125 free spins. There was no mention of essential conditions such as wagering requirements, cash-out limits, bet limits, etc.

There also seemed to be some sort of Cashback program that offered cashback as huge as $20 000 – but absolutely no additional information was provided about this promotion.

GoldenSpin License

GoldenSpin claims to be a brand run and operated by Invicta Networks N.V. – a Curacao-based company that is regulated by one of the four master license operators authorized to operate in the country, Antillephone. This company is behind a few fairly okay smaller casinos and seems reliable enough. That would have been a good starting point if there had been any way for us to actually establish that GoldenSpin is operated by this company.

Each regulated casino is required to embed a digital license seal at the footer of their website – this makes their license easy to trace. Initially, this also seemed to be the case here since an Antillephone license seal was visible. We quickly established, however, that this seal was not active and did not lead to a separate license page. Moreover, we could not find any proof that GoldenSpin is owned by Invicta Networks N.V. The reason behind all this might be that this is still a very new casino that needs more time to further develop its website. However, this situation certainly made us raise an eyebrow and did not contribute in any way to us seeing this casino as a trustworthy option.

Unregulated casinos are not necessarily scams or even unreliable. However, they do not answer to any regulatory authority and are not required to implement protection policies that ensure the safety of client data, prevent money laundering, or offer any responsible gambling tools and options.

This is hardly the case with regulated casinos. Malta and the UK are considered to be the countries with the sternest laws and regulations in the sphere of online gambling. Numerous laws and guidelines are applied to guarantee that clients receive fair and transparent treatment and that the games are completely randomized. These casinos are required to provide players with a range of self-exclusion tools and resources related to responsible gambling, such as customized deposit caps, time-out alerts, external resources regarding gambling addiction and how to manage it, and even the option to close your account entirely if needed. Maltese and UK casinos protect customer data using state-of-the-art encryption technology. This is crucial because you will be providing them with a lot of sensitive personal information. Multiple regulations are preventing financial fraud and money laundering exist. Every game must pass an impartial third-party assessment – this guarantees that games are random and equitable. Random number generators, or RNGs, are usually used to ensure that.

In recent years, Curacao has become a preferred regulatory hub for online casinos. Compared to Malta or the UK, the licensing process in this offshore jurisdiction is significantly quicker and easier. The local government does not directly oversee the activities of online casinos; instead, four master license operators who have received licenses are in charge of regulating casinos, handling consumer complaints, and making sure that all laws and regulations are followed. Companies with a Curacao license must abide by specific regulations to guarantee security and fairness. Casinos have to demonstrate that they can keep up with the required technological infrastructure, and all of the games have to be randomly and independently audited. Anti-fraud and privacy protection procedures are essential but responsible gambling is not the same priority as in Malta and the UK.

Curacao casinos do offer the same level of security but they are they also offer more favorable conditions because they are subject to fever restrictions. Although there are many excellent casinos in Curacao, we still advise you to do some research and check online for player reviews.

Restricted countries: United States, United States Minor Outlying Islands, Virgin Islands, U.S.

Languages: English, Russian

GoldenSpin Deposit and withdrawal

Currencies: US Dollar (USD), Brazilian Real (BRL), Euro (EUR)

The deposit solutions GoldenSpin accepts include credit/debit card, bank transfer, a variety of cryptocurrencies, and PerfectMoney. When it comes to withdrawals, you will only be able to use crypto or your Visa or MasterCard to make a transfer.

The minimum deposit amount is a bit high for our liking – $30 – but still within the normal range. No information was provided about maximum deposit amounts, processing times, or additional fees. Most casinos process deposits instantly and do not charge additional fees so that may well be the case here – but without a clear Deposit and Withdrawal Policy, we cannot be sure.

The minimum withdrawal amount is $30 for card withdrawals and $40 for crypto withdrawals which is fairly standard. No withdrawal processing times or withdrawal limits were specified. Something to keep in mind is that most casinos restrict the maximum amount of money players can withdraw per day, week, or month but these limits strongly depend on the casino and we cannot make any guesses without GoldenSpin explicitly having provided this information.

Most casinos also ask players to reach certain rollover requirements before they can make a withdrawal – usually 1 to 3 times your initial deposit. Such conditions exist to prevent money laundering and are not at all out of the ordinary. However, since this casino does not offer any sort of legal documentation, we cannot be sure what sort of requirements they have in that regard.

GoldenSpin Games and game suppliers

GoldenSpin offers a poor, badly organized game library. The casino works with 15 well-known game providers which means it could have done better in that regard. Although most games were of decent quality, the overall selection was poor, mostly due to the small number of games but also because finding a particular game was a bit of a nightmare. Many casinos do far better in that regard and let you search games according to provider, theme, mechanics, etc.

Game providers: Play'n GO, NetEnt, Betsoft, Quickspin, ELK, EGT Interactiv, Amatic, Microgaming, Habanero, Yggdrasil, Thunderkick, Evolution, Evoplay

The Slot section was far from impressive – the games were organized in an infinite-scroll kind of manner which was far from convenient. There were not that many games overall – while some casinos can offer a few thousand slots, this casino only offered a few hundred. If you are expecting access to the current most popular slots like Gates of Olympus, Book of Dead, Big Bass Bonanza, or Starburst, you will be disappointed since the casino does not offer them. There were at least some decent titles such as Book of Ra, American Gangster, Elven Princess, Jester Crown, Katana, White Wolf, Flying Dutchman, and others.

When it came to table games, the situation was even more dire. GoldenSpin only offered 2 Roulettes and 15 Card Games – two Blackjack options, a few Jacks or Better games, a few versions of Poker, and a Bingo game. This is quite disappointing since casinos aim to offer a few hundred online table games. There was no Live Dealer section either which means that casino fans will definitely not be satisfied with what this casino can offer.

As a whole, GoldenSpin's game library is a true insult to every self-respecting player especially compared to the impressive, extensive game libraries many casinos can offer.

Conclusion

GoldenSpin is a very unimpressive casino that did not manage to gain our trust. This is supposedly the newest brand of a well-known company but we did not manage to confirm that these claims are true and that this is a regulated casino. They offer a very disappointing game library, no legal documentation, and no information about any supposed promotional offers. Overall, this casino was a huge disappointment and we would suggest that you avoid them and turn to a more established enterprise.