Sportsbet is an Australian bookmaker that allows Aussies to make wagers on a wide range of events and outcomes. This includes major sports like horse races and cricket matches, but also reality show contests and TV plotlines.
The site is operated by the NTRC and offers betting at licensed venues across Australia, as well as online. As of June 2017, sportsbet was the third largest bookmaker in Australia by bets placed, with over 3 billion dollars bet on its products. This is largely due to sportsbet’s sponsorship of major sporting events and its promotion of betting offers to attract new customers.
In addition to traditional bets, sportsbet offers a number of other unique services that are designed to enhance the player experience. These include live streaming of most major sporting events, an extensive racebook with full data feeds and odds comparison functionality. The site also provides a number of different racing analysis tools and insights, including a speedmaps tool and a blackbook.
In order to meet NTRC minimum bet laws, Sportsbet must hold at least a proportion of every dollar bet in a separate bank account. This is regularly audited by the NTRC to ensure compliance with their licence conditions. The company is also required to pay tax on bets, and these taxes are paid into the state governments and NTRC. These funds then go towards the racing industry, hospitals and schools. This is an important source of income for the state governments, but it can be a controversial issue amongst some punters, who argue that the money should be spent in pub TABs and other Australian-owned bookmakers rather than in overseas-owned corporate bookies that are directing profits back to Dublin or Gibraltar.
Sportsbet’s ‘bet With Mates’ feature is a nice touch that lets you bet on any market with a group of 2 or more friends. Each member contributes to the pool with a set amount of their own money, and an Admin sets how much everyone buys in for each race or sport. Admins can add or remove Members from the group at any time and can change the Buy-In amount at any time, as long as the total is not less than the maximum bet limit.
Members must provide Sportsbet with their correct Member ID before they can deposit or withdraw funds from their Account. Failure to supply the correct Member ID may result in Sportsbet voiding all bets, winnings or pending bets. 1.6.14
Sportsbet uses a number of third party ID verification services (Edentiti, GreenID etc.) in order to verify Members, including checking the Member’s name against third party ID databases and credit headers. This is not a complete process, so some Members may not be verified at all times.
As an account holder, you are responsible for the use of your Account and must keep it secure. If you believe that an unauthorised person has access to your Account, you must notify us immediately. Upon notification, we will take all reasonable steps to close your Account and will require proof of identity from you before allowing further transactions to be made.