Razed is a crypto-first, privacy oriented casino and sportsbook that launched in early 2024, running alongside a BETBY powered sportsbook.
The desk has to be straight about this one. Razed has real features, a live RTP display, provably fair Originals, a deep VIP ladder, but the paper trail behind the brand does not hold together, and that matters more here than at any other book we cover.
Verified game count: n.a., operator claims 4,000+ games, third party counts range wildly from 109 to about 4,500
Single shared wallet across casino and sportsbook, no segregation between the two products.
Minimum deposit and withdrawal: conflicting reports, some sources cite a $1 to 5 equivalent floor, others cite a $20 USDT minimum
Maximum cashout: no ceiling per crypto T&C
A live casino category exists on the operator lobby, but the studio is not named on any operator source, third parties attribute it to Evolution
Razed publishes a live per game RTP display next to each game showing session or live RTP figures, this is a genuine, operator confirmed feature and a real differentiator, though multiple Trustpilot and Casino.Guru reviewers separately complain the realized RTP feels horrendous despite the display existing
100% first deposit match up to $300, plus 5 days of extra rewards widely reported as 150 free spins on Sugar Rush 1000, third parties cite a $100 minimum deposit to trigger it
Wagering conflict check: Bonus wagering multiplier is disputed, one source cites 40x with a $3,000 max withdrawable cap, another cites a punitive 400x on a rakeback boost structure that may be stale or mis-attributed, the operator's own baseline rule is that all deposits must be wagered at least 1x before any withdrawal
Promos we removed (and why)
Model: risk-based
Marketed as low KYC and privacy first, with several testers withdrawing at moderate volume with no verification triggered. In practice the gate is discretionary and can be punitive: documented cases show multi month holds, repeatedly rejected proof of address documents, and account closures tied to a player's stated country. Deposits must be wagered at least 1x before any withdrawal, even without a bonus active.
United States: blocked entirely
Blocked jurisdictions: United States, United Kingdom, Australia, Germany, France, Netherlands, Spain, Singapore, Sweden, Israel, Iran, North Korea, Vietnam, Afghanistan, Kazakhstan, Myanmar.
Licence number: ALSI-132405034-FI3
The operating entity and license jurisdiction are genuinely disputed across sources. The most cited claim is Wild Technology Ltd (Costa Rica) operating under an Anjouan license, number ALSI-132405034-FI3, but other sources name Pretense Flip N.V. or Razed Limited or Trickless N.V. under Curacao instead. The Anjouan license number could not be independently confirmed on the Anjouan public register during this research. This is a real trust gap in the paper trail, not a formatting inconsistency.
Trustpilot: 3.0-3.3/5 from 183 reviews.
Casino Rating: 4.0/10
Real features like the live RTP display and a deep VIP ladder are undercut by an unresolved operating entity, a disputed license jurisdiction, and documented confiscation and multi month withdrawal hold cases.
The live per game RTP display is a genuine, operator confirmed feature, the welcome match and Sugar Rush 1000 free spins are both directly verifiable on the operator's own promotions page, and most small stakes crypto withdrawals are reported fast.
The operating entity and license jurisdiction cannot be reconciled across sources. Documented cases include a roughly $6,449 balance confiscation with only $833 returned, a 1,870 USDT withdrawal held 3 months on repeatedly rejected documents, and a $1,388 account termination that was rejected on appeal. This is the worst documented payout record of any brand covered here.
Not recommended for players depositing meaningful amounts. Small stakes players in accepted countries report no friction, but the confiscation cases and unresolved paper trail make this a brand to approach with real caution.
Stronger casino picks in the same wallet-first universe
If the operator profile above worries you, try Stake casino, Roobet casino, Shuffle casino. Each of these is a real crypto casino we test on the same yardstick.
Read the full brand breakdown in the complete Razed review, or head to the promo code page to lock in code MAXBET.