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Nordicbet review
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Witness the northern lights from the virtual Nordicbet yachts in the Scandinavian lakes of Stakersland.
Admire the views and place your wagers in this inspirational betting environment that was taken over by the Betsson Group in 2012. It is clear that the experienced owners were taking a lot of inspiration from their sunny maritime views from the Maltese Portomaso office when dreaming up Nordicbet’s vision of the future. The community of stakers has slowly grown over the years to around 124.6K and already we can see a distinct group of Finnish stakers coming to the betting grounds on a regular basis. The Finns are followed by smaller groups of Swedish, Norwegian, and Danish stakers, as well as a tiny group of Germans who are no doubt enticed by the Betsson ownership. It is clear that many of the stakers here are sports betting enthusiasts, but there is a growing concern that some visitors are also still very enthusiastic about the casino and live casino products. Consequently, the sports betting team have their work cut out in keeping their members occupied and focused on their sports markets. Looking to the main sports here then the number one priority are the European and major international football competitions. Other lesser interests include basketball, tennis, and ice hockey events during the winter, although these sports are not that significant when you look across the total volume of betting. Being a Betsson associate, then you would expect all the current trends to be well covered such as the rising esports markets. Nordicbet covers events based on the following popular esports games: CS:GO, Dota 2, Rainbow Six, League of Legends, and Starcraft 2. You can also expect the top events to be supplied with all the visual trimmings such as live video streaming as the games are being played out.
Nordicbet approaches their sports betting limits from the lower end. It defines the maximum winning from each bet to €100,000, caps the daily winnings to €250,000, and the maximum winnings you can make in a week stands at €500,000. Speaking of the withdrawal limits then the maximum amount is defined to €50,000 in any single twenty-four hour period, unless a larger amount has been agreed by the Nordicbet financial team. As of the 2nd July, all deposits are restricted to a maximum of 5000 SEK per week (which is around €500) for Swedish Stakers. To payout the maximum possible weekly winnings of €500,000 then Nordicbet would need to be taking deposits and bets for a total of 48 hours. The maximum €100,000 winnings from the betting slip would be paid out within 12 hours. With these limits and timeframes in mind, we can determine that Nordicbet is decently funded and should be able to process your withdrawal within 24-48 hours, though you should be prepared to complete either of the source of funds or source of wealth procedures whenever Nordicbet requires you to do so.
The growing Nordicbet community currently stands at roughly 124.6K and these stakers are spending anywhere from €12-15 on the betting markets every month. The total annual gross gaming revenue therefore comes to around €110M with €15-20 million in profits.
As estimated by our Stakersland ticket sales office, the community of 90,000 prior to the Betsson acquisition has grown up to 124.6K stakers with an average growth rate of 10% per annum. The average spend per player is significantly higher compared with rivals from the continent and the British Isles and currently stands at €12-15 per month, with the present monthly gross gaming revenue working out to €10 Million. The gross gaming revenue generated by the Nordicbet community stands at €110M per month with the net profits of around €15-€20 million being distributed to shareholders annually. According to our number gurus, the money paid to acquire the business back in 2012 has been paid off and it has already started to bring back a profit to the Betsson owners. Due to the market preference in their casino and live casino products, it is difficult to find a suitable competitor to Nordicbet who is also operating in Finland and Sweden. For this reason, we will be taking Betsafe, another brand of Betsson with a community of 42,000 Finnish stakers. Betsafe’s annual gross gaming revenue is calculated at €55 million excluding expenditure, all bonus withdrawals, and licensing fees. Considering the expenses of all relatable nature, such as their social contributions and tax levies, then they would be yielding at around 25% from their gross gaming revenue which works out to around €14 million per month in the dreamland of Stakers. The second competitor of Nordicbet would be the giant bookmaker Unibet with their community of 221,000 Finnish stakers attending their betting premises every month. Kindred Group’s Unibet generates an annual gross gaming revenue that is estimated at €802 million. According to the annual reporting, their EBITDA is 10% from the gross gaming revenue which works out as a profit for the year at around 6% or €50 million, which is around €4.2 million monthly. The significant costs of their operation are betting duties (20% from the GGR), marketing costs (20%) and labour costs (10%) for their 1,600 strong employee community across the various offices.
Nordicbet Offers
The majority of stakers who are heading to the Nordicbet virtual betting grounds are Finnish, followed by rare queues of Swedish and Norwegians. There are also a few Danish and German stakers who are obviously inspired by another brand name under the Betsson betting union.
| Finland | Norway | Sweden | Denmark | |
|---|---|---|---|---|
| monthly | 76K | 18K | 15K | 10K |
| License |  | |  | |
Social Buzz
At the time of writing there were 35 reviews and six complaints on the profile. Out of those complaints, only one had been marked down as resolved and just three of the six had responses from the Nordicbet team. Again, most issues tend to be based on the verification and withdrawal procedures, and the confiscating of staker funds.
A total of 38 comments and 186 votes are on the profile and most of the reviews have been marked down as ‘green’. It has been a consistent high rating for Nordicbet, and the only problems being mentioned include some misleading information from the support team and the lack of access for many staker countries.
Bonus clash
Betsson's marketing team approaches the sports betting business with its existing know-how of the casino industry, and as such, their new sportsbook acquisitions are usually geared by deposit-based calculations rather than the popular free-bet bookmaker logic.
“The welcome bonuses are good for me, but some people may find them unfair. Nevertheless, I like the bookie and the promotions, especially the qualifying odd which are just great and make it easy to complete any offer.”
“Being an acca fan, I really enjoyed their Multiples Refund promotions. The odds per leg are 1.20 and you may get up to €60 back which, in my eyes, is a brilliant offer.”
“What I can’t understand is why do German stakers receive €20 bonus and I should get only €10? Why not just make a single promotion list for all countries. It’s just unfair.”
“The main disadvantage about Nordicbet is that they do not share promotions between stakers from different countries. Some have lots of offers and some don’t have anything. Also, there are no standard promotions like free bet clubs to help you enjoy the site longer.”
The Betsson/Nordicbet team has decided to incentivise nearby countries with higher or lower bonuses depending on the general money flow in each staker region. We found that our Finnish stakers are rewarded almost 10 times as much as the Germans and this approach reveals the attitude of the company more than the old slogan ‘Love the game' which has been left, apparently, unused from the time of the ex-Estonian owners.
| promo name | promo type | requirements | restrictions |
|---|---|---|---|
Place £10 on Sports to unlock £10 Bonus Credits  | Welcome Bonus | Make a deposit of £10 and place qualification bet on sports | Skrill and Neteller are excluded |
If your country is not on the target list of Nordicbet then you would be offered a modest £10 in bonus credits, which is a simple 100% matching bonus for your first deposit. Unlike the ordinary matched bonus though, you are required to place a qualification bet of £10 to unlock your bonus credits of £10. Furthermore, that £10 is subject to total turnover requirements of 3x at the odds of 1.5 or more using Singles and Combined bets only (again, all System bets are excluded from this offer).
| promo name | promo type | requirements | restrictions |
|---|---|---|---|
Early Payment | early payout | Place pre-match single bet on football events from selected leagues | Bet Builder, Accumulator, In-Play and System bets are all excluded |
Should your favourite team from the list of qualifying leagues and competitions lead by two goals at any moment during the match then you will be a winner. It’s a quickfire offer that can payout before the final whistle blows. The qualifying bet here is restricted to the pre-match market and it must be wagered as a single on the Full Time Result (1x2) market only. The maximum accumulated payout under this promotion is €500 per event.
Conclusion
In each of the above bonuses from Nordicbet we found there to be little confusion and often quite a lot of controversy. It is obvious that the team has tried its best by using some of the British sports betting bonus favourites, but they were not entirely sure how to name them or use them to be competitive within Stakersland. Take for example that they are trying to offer ‘free bets’, but in essence these bets are actually bonus credits, or the ‘early payout’ offer from Bet365 has now become ‘early payment’ in the words of the Betsson marketing team. There are some obviously big doubts in relation to the different bonus amounts being issued to stakers from neighbouring countries, and this is obviously unfair to compare stakers from Germany and Finland. Furthermore, we found that the Price Boosts and Flash Odds promotions are takeout ideas from across the park, and so they obviously require further development to make more sense and provide better overall value for the Nordicbet stakers.
Sports betting
The Nordicbet platform is being operated and managed by the developers of the Betsson Group.
To ensure that each bookmaker keeps their betting technology up to date, our tech team analyse all the betting features and services made available to all our stakers in the park. In doing this we can show you exactly what you can find and what you can expect when betting with each of the bookmakers. Read on to find out what Nordicbet are currently offering their staker members.
The common approach for many bookmakers is for the frontend and backend teams to work together to build a new and revolutionary betting product to Stakersland. However, Betsson split their development teams across Malta, Sweden, Estonia, and Hungary. Therefore, a skin using Angular might be created in Malta whereas an API could be created in Hungary. Betsson and Heraklidus CTO, Peter Frey, stated that “the only constant is change” and also mentioned “you need to have the mindset that you should always embrace it and the changing environment", as well as "I have spent countless hours playing our games, betting on sports, getting to know the industry and familiarising myself with our competitors”. Those words are quite strange as we would have expected to see someone in this position to have a solid development background, or at least many years’ experience in either the online casino or sports betting industry.
Betsson have had some help along the way and most noticeably in 2015 after their acquisition of the Georgia-licensed Europe-Bet operator, which was based around a purchase cost of $50 million. The expertise and high-level knowledge of sports betting of this Tbilisi team has helped to boost the Betsson and Nordicbet sportsbook, and this updated version is what you can now enjoy at Stakersland. From what we can see, the backend has been developed using a mix of Visual Studio for .NET and C# as well. A strong knowledge of the ASP.NET Web API is a must for developers here, as it used dominantly on the frontend for either the layout or how the market requirement predicts. We can see that Betsson are currently using Angular2+/AngularJS React with Redux for most of the betting sites under their expansive betting group. A MSSQL database server is in use, along with a NoSQL solution for their big data such as the constant updates of the live odds.
Sports
The focus here is on the major European divisions and the top international events and tournaments for football. Nordicbet also cover a sufficient number of events for ice hockey in the winter, basketball, and tennis. There is no geo location or player specific preferences in the sportsbook except for the bonuses and promotions that have been designed for each of the countries that they operate in.
Betting slip
It is a heavyweight solution without local storage and so all the updates and statuses are pulled from the API-based backend. In terms of wagering formats, stakers are offered Single, Combined, and System selections. There are no multi-way and banker features available, but they have integrated the custom Trixie and Yankee betting options. Cashout is also available directly from the betting slip with both partial and full cashout possibilities.
In-play stats
Both the visualisation widget as well as the video streaming features are available for live in-play events. Above the widget, stakers are presented with the overalls for total shots, shots on target, shots blocked, dangerous attacks, corners, free kicks, incidents, and overall card statistics. Events are decently covered with head to head, present form, and league standings available from either Sportradar or Stats Perform.
Betting markets
Nordicbet provides you with plenty of betting market options across the top sports. The major football events are full of 141 live markets and up to 196 pre-live markets. Ice hockey offers 95 live and 146 pre-live markets, while tennis has 27 live and 25 pre-live markets.
Margins
The sports betting margins at Nordicbet are calculated around the market average for Stakersland. Football provides a margin range of 3.61% for pre-live odds to 5% for in-play, ice hockey provides a range of a 4% pre-live margin to 6.97% for ongoing games, and tennis is between a 8.38% pre-game margin and a 8.42% point for live.
Event results
For both pre-match and in-play events there are links taking stakers to external statistic pages that contain information on the past matches, head to heads, as well as a drill down feature to player specific overalls, as well as team performance related to their betting markets. There are no results for the past matches available though, with bet settlement data supplied to graded bets only.
| Sports | margins | live margins | markets | live markets |
|---|---|---|---|---|
| tennis | 8.38% | 8.42% | 25 | 27 |
| football | 3.61% | 5% | 196 | 141 |
| basketball | 5.44% | 6.03% | 101 | 28 |
| ice hockey | 4% | 6.97% | 146 | 95 |
Nordicbet are giving their member stakers a reasonable offering across the betting margins and none more so than in their number one focus sports, football. The 4.7-8.4% range is straight down the middle in terms of the average across Stakersland and you can visualise a sense of the value when you compare this against the 5.5-9.5% range of Bet365, the number one bookmaker in the park. The betting margin for both ice hockey and tennis are a little high but at least the percentage range is narrow, and this shows betting stability which is crucial when you are betting long term.
Financial Limits
The Stakersland business team are a meticulous bunch of financial experts and this is what makes them so efficient for analysing the processes and procedures here at the park. All the ins and outs are rounded up and then we display it all in the summary table for you below. We advise that you read all the way through to get a good understanding of the financial procedures you can expect to encounter here at Nordicbet.
Payment Method Restrictions
Which payment methods are valid when claiming my bonuses?
As is common to the industry, Nordicbet restrict deposit bonus offers for both Skrill and Neteller, and the payment options of the Paysafe Group. The bonuses are further heavily capped on the country level.
The Influence of Third Party Agencies
What checks are being made and do they use any third party agencies?
Nordicbet may perform third party searches against your name, compare the personal information they have provided against third parties databases, and may also request information and documents to validate your account and the funds being deposited. According to our communication logs, we had only traced Hotjar being used to collect the anonymized clickthrough metrics and as such, Nordicbet is one of the most secure sites to bet at in the park when speaking of privacy.
Personal Data Transparency
Will they inform me about the automated checks being performed?
They say straightforwardly that Swedish stakers’ age will be automatically verified with the help of third-party providers. There are no specific details over how the identity of other stakers is established though.
Social Media Communication
Will my financial disputes and complaints be answered on the social media profiles?
Nordicbet are selectively answering some reviews which are containing complaints on Trustpilot. They communicate with their stakers on Askgamblers although only 1 out of 6 complaints were resolved positively.
Gambling Anonymously
Are my banking transactions with the bookmaker private?
It will show either Nordicbet or the BML Group on your official Nordicbet financial transaction documents, and this will be dependent on the payment provider that you decide to use.
Withdrawal Timeframe & Common Complaints
How fast are the withdrawals and what do stakers complain about the most?
According to our tests, the withdrawals are approved within the same day and this matches our communication logs with the customer service. Speaking of the helpdesk, withdrawals via Visa, Neteller and Skrill are all being processed within 24 hours. Bank transfers will take 3-5 working days. This time does not include the 24 hours needed for the Nordicbet financial specialists to approve the withdrawal though. A few stakers have also complained about withdrawals being frozen for long verification periods and they also talk about some long withdrawal times as well.
Player-Friendly Withdrawal Limits
What are the minimum and maximum withdrawal limits available?
The minimum amount that can be withdrawn via Neteller and Skrill is €20. It is €25 for bank transfers and €30 for standard Visa cards. The upper limit is as follows: €100,000 for bank transfer, €10,000 for Visa cards and Skrill, and then €45,000 for Neteller.
Withdrawal Options & Additional Costs
What are my banking options when withdrawing my funds and do they add fees?
Players can withdraw funds from their Nordicbet accounts using Visa, Neteller, Skrill, and bank transfer. A 5% fee is applied to withdrawals via Neteller and Skrill in any case where the money deposited was not used, or in any case where the Nordicbet terms and conditions were not respected by a member staker.
Regulatory Check Transparency
Are they clear about the Source of Funds and Source of Wealth procedures?
The Nordicbet general terms page only describes the source of funds procedure and gives examples of documents that might be requested from stakers within this check. These include recent pay slips, bank statements, employment contract, sale of property, proof of inheritance or savings, or something like an official letter of dividends. It also states that Nordicbet will not use your information for anything other than verifying your account.
Conclusion
The Nordicbet upper limits are sufficient enough for high rollers, while the minimum withdrawal amount is above the average mark for most casual stakers. Despite clearly showing all the necessary information about the checks and verification procedures they conduct, some stakers are still complaining about the problems of withdrawing money due to the often painfully slow verification procedure. There is obviously a lack of transparency when it comes to the databases being used to establish the identities of stakers, and what credit agencies are actually being used, if any. Our team did manage to spot a Hotjar tracker in use for the marketing and development team, and so we could also take that data as not being used in line with their otherwise impressive privacy policy.
Customer Support
Nordicbet clearly put a lot of effort into their customer support team with a sufficient level of training being given. The live chat agents are friendly and polite, and they give you detailed information about all their ongoing betting services. It may take them a little longer than usual to assist you with sports betting questions but on the whole, they are a helpful team. You can contact them via the 24/7 live chat feature, as well as the email and call back function. However, as we find with most of the bookmakers here at Stakersland, there is no available SLA in place to guide you on the overall level of customer service being provided. So, read on and we will fill you in on what you need to know when interacting with the Nordicbet customer support team.
Support Speed & Resolution
How fast do they reply to my general queries?
The live chat button can be found on the help page and an agent will get connected in 1-2 minutes after the chat request starts. The average response time to general questions is around 2-3 minutes.
Live Chat Access
Is the online live chat tool available on the site?
Live chat is available for both unregistered and existing stakers. The agents confirmed that there is a possibility of getting a bonus from the support team, but the ‘no deposit’ bonuses are available for active members only. It takes them about 30 minutes to about three hours to get back to you via email.
Support Team Competency
How quickly will the support team reply to complex queries?
The support representatives attend to complex requests in about 4-5 minutes as they check information or connect you to another department. Here we have one of a few rare examples of customer service with either proper training or having the technical expertise to escalate queries in the real time.
Level of Technical Expertise
Are the support agents sufficiently trained to answer technical queries based on odds, margins, and markets?
The agents confirmed that any technical queries regarding odds and markets are out of their area of expertise. It is obvious that the trading team are using Sportradar feeds and working from other offices as they do not communicate with the customer service for general queries.
Unregistered Staker Support
Will the customer service team interact with unregistered stakers and will I get a free bet?
The tone of the conversation with an unregistered staker was polite. The agents explained their conditions on getting a ‘no deposit’ bonus and also about claiming the welcome offer.
Professional & Friendly Service
What type of response will I get when requesting a bonus from the service team?
Support agents reply to your bonus requests in a friendly manner. The answers were a mixture of templates and their own wording which again is a good level of customer service that shows they do have knowledge about their company.
Customer Service Knowledge
Will the agents provide the correct information about payment limits when compared to the terms and conditions on the website?
The information provided on the withdrawal limits was partially incorrect when compared to what was on the website. The information about deposits and fees was the same as on the official Payments page though.
Willingness to Help Out
Will the support representatives help me navigate around their website?
When asking for help navigating around Nordicbet, we were provided with directions on where to find the requested information or the particular bets that we were looking for.
Tolerance Levels
Does the support team have a high tolerance level for repeated bonus requests?
The agents remained polite and explained repeatedly that ‘no deposit’ bonuses may be offered after reviewing your individual deposits and overall bonus history.
Onsite Support Efficiency
How efficient is their onsite Helpdesk compared to the competition?
For most of the queries you would source the answers at the Nordicbet Helpdesk, but it is going to take time due to the external window and basic standard layout in place.
Conclusion
Unlike with the common approach to the sports betting industry, the Nordicbet team is well trained and they are willingly taking all of the matters into consideration and investigating various technical queries as well. They are not trained, however, for any sports betting related queries to do with the odds and the margins available on the site. The live chat support may review account activity and then credit bonuses upon request, for those who have faced recent bad luck with their bets. We found that they tend to use a mixture of personal unique replies and generic templates to get the message across. Overall, they are above the market average in terms of the level of customer service being provided and they are a pleasure to chat with and an inspiration for other bookmakers here at Stakersland.
Conclusion
Unlike with the common approach to the sports betting industry, the Nordicbet team is well trained and they are willingly taking all of the matters into consideration and investigating various technical queries as well. They are not trained, however, for any sports betting related queries to do with the odds and the margins available on the site. The live chat support may review account activity and then credit bonuses upon request, for those who have faced recent bad luck with their bets. We found that they tend to use a mixture of personal unique replies and generic templates to get the message across. Overall, they are above the market average in terms of the level of customer service being provided and they are a pleasure to chat with and an inspiration for other bookmakers here at Stakersland.
Check out our own FAQ below if you ever do feel the need to escalate anything further when it comes to dealing with the Nordicbet customer support team, or the general services being offered on the site:
Are you able to complain with Nordicbet?
A complaint should be raised with the customer service, in any case where it is not resolved then stakers may escalate the matter to the managerial staff via csmanagement@nordcibet.com. According to the terms and conditions, all complaints will be resolved within 10 days, but the period of inquiry may be extended. Complaints regarding bet settlement and/or transactions should be lodged within six months after the settlement or transaction has taken place.
Where to complain if they refuse the withdrawal?
Stakers may submit complaints to the Nordicbet ADR which is eCogra. Complaints can also be channelled via the European Online Dispute Resolution platform or they can also be lodged with the MGA.
How do stakers rate the Nordicbet customer service?
Stakers complain about the phone support not being available. Some also rate the live chat positively because of the agents being so friendly. According to other reviews, the support team can be slow and sometimes they are not able to deal with the technical queries both on sports betting and with the casino games on offer.
Up or down
For all the time that we were conducting our Nordicbet testing, the cyber pulsar of Amazon together with its host Nordicbet was up and running, with only a few small errors when keeping the site open. However, this does not confirm the actual service uptime due to the backend being hosted in Malta and the updates being uploaded during the week. But we have to admit that this 99.99% uptime rate is a respectable indicator for both. Going further with our tests and the Google Page Speed insight ranked Nordicbet at the top of our list. We marked a truly phenomenal 98/100 score for the desktop version and a very respectable score of 68/100 for their mobile platform as well.
TECHNOLOGY
The backend is based on .NET and C#, and they use the MS SQL Server with Couchbase as their big data solution. In terms of data exchange, Nordicbet uses a classic scheme of http queries with websocket incremental updates. Elsewhere, we found the number of API requests to be confusing with as many as 20-30 for the first site loading. The frontend is developed using Angular from Google and while the opening bundle size is about 1.6 mb, which is not bad, an extra 2.5 mb of html was also loaded from the server which downgraded our initial thoughts back down to the ground.
DATA CENTER
The frontend is hosted at Amazon AWS and so it is in full protection from outside penetration as well any DDOS attacks. However, as these are static scripts then they will most likely not require any protection with the bundle downloaded from the initial page opening. Due to the application design, all of the quests are routed to the Betsson Maltese server hosted in the BMIT data center and this leaves Nordicbet vulnerable even to minor attacks of a few hundred megabits per second.
SSL CERTIFICATE
Nordicbet uses a wildcard certificate issued by Amazon with a SHA-256 encryption algorithm and a 2048-bit root key. The cost of the Amazon certificate is $0, and this is the simplest version of the certificate, which, however, seems to work just like the rest. The team of Stakersland security experts recommends reconsidering this approach and to acquire an EV-signed certificate instead. This would require the website to establish initial identity and those green lines in the status bar would highlight domain authenticity to all its staker members.
As a technical conclusion, the Nordicbet team clearly follow the trends and they like to use a modern approach with a well-equipped technology stack. They have spent quite some time in optimizing their JavaScript and this noticeably impressed our inspectors with an almost 100% optimization rating according to Google Insights. With the exception of a few objective negatives, such as the size of the html page, the site looks almost perfect from a technical point of view. With all of the above in mind, the Nordicbet sportsbook has taken the clear lead in our overall technology ranking and they have fairly defeated their big-name international rivals here at Stakersland.
countries where Nordicbet is licensed
The Nordicbet bookmaker is operated by BML Group Ltd and their head office is currently located in Malta. The development offices of the Betsson/Nordicbet partnership are spread throughout Europe with offices in Malta, Estonia, Sweden, Germany, Lithuania, Georgia, and Hungary. They are registered by the Swedish Gambling Authority under the name NGG Nordic Ltd, by the Malta Gaming Authority under the name BML Group Limited, and the players from Finland and Germany are also served using the MGA license.
Nordicbet is operating under various betting licenses including those from the Maltese and Swedish authorities. The focus is clearly on the Scandinavian communities but other smaller groups of Danish and German stakers are able to access their sign-up form as well.
A look into the past of Nordicbet and we can see that it was founded back in 2002 by entrepreneurs from Tallinn in Estonia. They first used the Maltese licensing jurisdiction to plant their foothold in Stakersland and they have always made it clear that Scandinavian stakers were the intended crowd, as can be determined by the bookmaker’s name. It was all fixed odds for the first two years and then they introduced their casino product in 2004. By the time 2012 rolled by, Nordicbet had accumulated 90,00 depositing stakers with 200 employees manning the decks. The clear success was too much for Betsson to overlook and so they stepped in with a €65 million buyout deal which has now seen them start to enjoy a profit from their wise acquisition. The future looks bright for both Betsson and Nordicbet.
If we look into the legal affairs of Nordicbet then we can see that NGG Nordic Ltd was fined by the Swedish Gambling Authority for SEK 19,000,000 (€1,815,000) for inappropriate bonus offer advertisement that was clearly breaking official Swedish legislation. Betsson, only recently, suffered a substantial SEK 20 million fine by the Swedish Gaming Inspectorate (Spielinspektionen). This was due to Betsson allowing their stakers to fund accounts using retail vouchers while it was also found that a branded Mastercard was found to be offering illegal bonuses. Other than that, the Nordicbet name itself has been quiet within the courtrooms and the paper headlines found across Stakersland.
Questions
What documents Nordicbet requires for account verification?
For age and identity verification process, Nordicbet accepts your national ID, passport, or driving license. Your address will be verified by a utility bill or bank statement and the proof of address document must have been issued in the last six months. For the Source of Funds procedure, one of the following documents may be asked from you: a recent payslip, bank statements that show three months of transactions, an employment contract or income tax receipt, proof of official income from a sale of property or properties, or any inheritance or savings proof such as a dividends letter. Photos of both sides of your bank card would be required or screenshots of your e-wallet accounts with the profile details and URL all clearly visible. It also states that your details will only be used in the strictest confidence and they will not be used in any other purpose other than to verify your account.
How long does it take them to settle the bets and payout?
There is no specific time-frame that Nordicbet will settle your bets in. The representatives only said that they aim to receive the results once the event is over and that they will then settle your bets as soon as is technically possible. They do partner with both Statsperform and Sportradar for their odds, live scores, and bet settlement data etc. This means that most live in-play event results should be made available instantly although it could take up to 24 hours for the lower leagues due to the official results coming through at night or the morning after.
How to request a withdrawal and how long it may take?
Withdrawals are approved in the same day and this is exactly what the support agents told us during our tests. Transactions using Neteller, Skrill, and Visa are processed in under 24 hours and bank transfers can take up to 3-5 working days to process. Take note that these times do not take into consideration the initial 24 hours that are required to approve each withdrawal request. There have also been several hints from stakers that the verification process can take a long time, and this often has a knock on effect with the overall withdrawal process.
Are multiple accounts allowed?
No, any instances of multiple account creation will be taken by the Nordicbet Team as bonus abuse and the measures, including the withholding of all your winnings, will be taken in any cases where this form of bonus abuse is detected.
Is it safe to open an account with Nordicbet?
Nordicbet sits under the global Betsson group who generate a total of annual revenue of around €500 million which leaves them with about €75 million in profits after all necessary expenses have been taken into account. For the owners Betsson to pay out the top Nordicbet limits of €500,000 per week then it would take them 48 hours to balance the books. It would take them just 12 hours to balance the maximum betting slip limit of €100,000. With these revenues and timeframes in mind, we believe that Nordicbet is well funded and they hold enough trust and integrity for you to safely open an account with them. The privacy policy is also something that many stakers would appreciate and as it stands, Nordicbet is one of the most private bookmakers at Stakersland to this very day.
VPN Usage - legal or not?
Nordicbet can be accessed with VPN turned on and no restrictions regarding this were found in their terms and conditions. At the same time, they do provide a list of countries from which residents cannot use Nordicbet, and so using VPN to avoid this residency limitation might have legal consequences with almost definite account suspension.
gross gaming revenue
customer base
time to make €500K
Social Buzz
Up or down
The majority of the comments are negative across the two available accounts on Trustpilot with a long list of issues being mentioned by disgruntled stakers. However, there are signs of a turnaround with positive comments being made in regard to improved competition prizes in 2019.