HypeLoot Review 2024: IS IT A SCAM? (MUST READ)
What is HypeLoot?
HypeLoot is a brand that offers mystery boxes aimed at intriguing enthusiasts in search of surprises. They offer a wide range of boxes tailored to different interests. Each mystery box comes with established odds of containing branded goods from exclusive brands. The randomness of a generator determines the item you'll get when you open a new mystery box. However, this 'randomness' does not seem to be provably fair, or at least it does not seem to be for the customers of HypeLoot. Let's get into this review, and we will explain why we gave HypeLoot a 'SCAM' warning.
HypeLoot - How Does It Work?
Once you have signed up, you are presented with various options to top up your credits, including Visa, Crypto, Giftcards & even Skinsback. This is one of the best features of HypeLoot, and once you are topped up you can begin exploring the variety of mystery boxes on HypeLoot. HypeLoot also has a list of game modes for you to choose from, making it not just a mystery box site.
Now once you have selected your chosen box and opened it, you can either sell the item back to HypeLoot for credit, or you can withdraw it to your address, and even withdraw the value to your crypto wallet. But, here is the turning point and why HypeLoot is on our scam list. HypeLoot has all these features, but it seems that they are not fulfilling many orders, if any at all, and they are also not completing crypto withdrawals of users. This can be seen by countless reviews online, where users explain their terrible experience with HypeLoot deleting their account when they choose to withdraw any credits at all via crypto or if they try to ship items out that they have won.
HypeLoot also has a minimum withdrawal limit, which is $30 as of now, and this can be seen in various reviews from verified users where HypeLoot requires you to deposit more money to be able to withdraw the current amount of money you have on HypeLoot. But when the user processes their withdrawal now finally, HypeLoot ban their account so they cannot retrieve any funds or items.
You can see their TrustPilot latest reviews are all 1 star with similar explanations of their experience with HypeLoot, though they may find a way to remove these, please see here - https://www.trustpilot.com/review/www.hypeloot.com?sort=recency
HypeLoot - Pros & Cons
Pros:
✔️ Variety of Gamemodes - There are a lot of gamemodes on HypeLoot, from Upgrade to Battles, there is a lot for you to do.
✔️ Various payment methods - HypeLoot accept Visa, crypto, giftcards & Skinsback.
Cons:
❌ Shipping Fulfilment - After our intense investigation of HypeLoot, and contacting previous customers, we can 100% say that HypeLoot does not fulfil the majority of their shipments, if any at all. So do not expect to receive anything you win.
❌ Crypto Withdrawals Scam - HypeLoot seem to have a crypto withdrawal system, but they very rarely complete these, as you can see by many reviews on their Trustpilot.
❌ Fake Odds - The odds on HypeLoot simply do not add up at all, and we have calculated these to show how they cannot be provably fair at all below in this article. This removes all fairness in the mystery box world, so it is a HUGE red flag!
❌ No Customer Support - HypeLoot has a customer support ticket area, but it is almost useless since most users complain they rarely ever get a reply, let alone a solution.
Is HypeLoot Legit? (MUST READ)
Now this is incredibly obvious, HypeLoot is 100% a scam, there is no 2 ways about it. There are many reasons for this, and let's go over it systematically:
1.) Fulfilling Shipment orders & Crypto Withdrawals
HypeLoot have been caught out by countless customers online about their bad experiences with how long it has been since they requested for their items to be shipped. The same issue occurs when you try to withdraw your balance to your crypto wallet, so if you do deposit on HypeLoot just know that are essentially donating it to HypeLoot. You will not receive anything at all.
2.) Fake Odds (NOT PROVABLY FAIR)
Allow us to explain why HypeLoot is NOT provably fair. Online Mystery Box Sites or casinos stay in business depending on the Return To Player (RTP) and house edge in a casino, the numbers should ideally favor the house for it to make a profit and stay in business. RTP should be less than 1. For instance, if the RTP is 0.99, it means the house expects to give back $99 for every $100 wagered by the player, allowing the casino to make a profit.
Now let's take the Razer case on HypeLoot as one example, and calculate the RTP. These are all the items in this case:
- DEATH SQUARED STEAM CODE - $0.9, 28%
- WORMS CLAN WARS STEAM CODE - $1.5, 20%
- XBOX GAME PASS ULTIMATE 1 MONTH XBOX LIVE CODE - $15, 20%
- M185 WIRELESS - $16, 5%
- RGB FAN LED HUB - $17, 5%
- ICUE SP120 RGB ELITE - $25, 5%
- XBOX SERIES X/SERIES S CONTROLLER - $40, 5%
- CYBERPUNK 2077 GOG.COM CODE - $45, 2%
- VENGEANCE LPX 8GB - $49, 2%
- RAZER X BAPE MOUSEPAD - $114, 2%
- RAZER x BAPE MOUSE - $152.4, 2%
- RAZER HUNTSMAN V2 - $179, 1%
- RAZER VIPER ULTIMATE WITH CHARGING DOCK CYBERPUNK 2077 EDITION WIRELESS MOUSE - $291.6, 1%
- RAZER X POKEMON TRUE WIRELESS EARBUDS YELLOW - $344.4, 1%
- RAZER X BAPE WIRELESS HEADPHONES - $486, 0.5%
- RAZER BLADE PRO 17 GAMING NOTEBOOK - $2300, 0.5%
Now let's calculate the RTP through a very simple equation. Since percentages are /100, we can use an equation like 100 x 0.01 to calculate a $100 item with a 1% percent chance. 100 being the price, and 0.01 being 1% in decimal form. This will give us the expected value for a given item when opening a case.
Now, let’s add it all up. We can use this equation to do so:
(0.9*0.28)+(1.5*0.2)+(15*0.2)+(16*0.05)+(17*0.05)+(25*0.05)+(40*0.05)+(45*0.02)+(49*0.02)+(114*0.02)+(152.4*0.02)+(179*0.01)+(291.6*0.01)+(344.4*0.01)+(486*0.005)+(2300*0.005) = $37.74
After calculating that we are left with $37.74. On the HypeLoot website for the Razer Case, it costs $14.88 to open. To calculate house edge, we can take the average return (37.74) and the price of the case (14.88), divide them (37.74/14.88), and we get -2.5363. This means that for every $1 you put in, if the odds are accurate, you’d expect $2.5363 out.
This is not sustainable for any mystery box site or online casino, since that means they are making a loss on every box being opened. This is also not one box, it is for every box on the site. I have calculated some other boxes and it has been near 2x to 3x the price of the case as a mathematical expected return.
3.) Non-existent Customer Support
Now if all of this wasn't bad enough, HypeLoot has a ticket system for customers to submit queries, but expect a response in 10 years, since they never seem to respond at all. Whether it is regarding a withdrawal, or if it's regarding a small account change, they never seem to respond.
Alternative Site Choices
If you don't want to get scammed of your money, then I recommend RillaBox, since it is our favourite mystery box site right now, mainly due to it's incredible 24/7 livechat support, a huge range of 150+ organised mystery boxes, and it offers legitimate crypto deposits/withdrawals for you in case you do not want the item you won. Although it has less gamemodes than HypeLoot, RillaBox genuinely cares for their customers and you can get a response from customer support within 5-10 minutes usually. You will also receive your winnings, rather than being scammed.
Conclusion - Is HypeLoot a SCAM?
YES, I'd say that HypeLoot is up there with the BIGGEST SCAM MYSTERY BOX SITE right now. There are many reason for this, as listed above in this in-depth review, but there is also skepticism surrounding the authenticity of HypeLoot's positive reviews, with many negative ones suggesting the site is involved in deceptive practices.
On HypeLoot's Trustpilot page, a significant portion of the positive reviews are suspiciously short, some probably being generated by AI, raising questions about the credibility of the reviewers. Florence Kalliope's review, in particular, appears highly likely to be AI-generated, as AI writing detectors flag it as such.
However, the negative reviews, presumably from actual users of the site, paint a different picture. Many of them express concerns that HypeLoot are engaging in deceptive activities. In an interview with an anonymous player from the site, it was revealed that crypto withdrawals are processed manually which explains why they are not fulfilled at all. AVOID THIS SITE!
Written by Yury Polichuk
I have been playing online mystery box sites since 2020, and have a vast amount of knowledge on what is a scam, and what is not a scam. Stay tuned for more reviews on online mystery box sites, where I will unravel the truth.
Updated on 20 April 2024