Listed in the Gambling and Lotteries Act, 1993, Sportsbet is an online gambling company that targets the Australian market. The company is licensed as a corporate bookmaker in the Northern Territory. The company also holds a licence under the Racing and Betting Act 1993. Despite this licensing, Sportsbet is a newcomer to the world of online gambling. If you’ve never placed a bet online, it’s important to know the basics of how a sportsbet works.
The Sportsbet homepage can be overwhelming for first-time punters. The website features numerous sports markets and sliding promotions, making it difficult for a novice to sort through all the options. Once you’ve entered a market, however, you’ll find that the site is easier to navigate. Despite the large number of choices, the homepage always displays the betslip. The website also allows you to see all your pending bets and active bets in one easy-to-access place.
The online sports betting industry has come under fire for its aggressive marketing. A 2007 ad featuring ex-footballer Ben Johnson was banned by the Advertising Standards Board. In 2017, Sportsbet reported an underlying operating profit of $215 million. Annual revenues hit $740 million. While many critics have expressed skepticism about sports betting, the online betting giant insists it’s committed to a fair system. Its ‘justice’ refund policy is another reason to choose Sportsbet.
Regardless of which team is favored, the oddsmakers place a percentage of the winnings as commission, called vigorish or juice. For example, if Penn State is favored by five points, the oddsmakers would bet on the favored team to cover the spread. This number is usually listed to the left of each team on the board, so if you bet $100 on Penn State to win $10, you’d win an additional $110 if they cover the spread. However, if you lose, you’ll lose only the $100 you risked.
Sportsbet also offers a multi-bet feature, a feature which lets you select several runners to win a race. By choosing more than one runner to finish in the top three, you can earn up to $50 in bonus bets. In addition, Sportsbet also offers special promotions for different types of betting, such as horse racing and team racing. If you’re looking for a new place to stake your bet, Sportsbet has it covered.
The app offers live commentary during races, and thousands of markets, including in-play odds. While the app isn’t available on the Google Play store, you can download it for free from the Sportsbet website. The app is free and requires Android 5.0 or later. This way, you can easily see how profitable your bets are and see how much you’ve won. So, how do you make the most of your bets?
The online bookmaker Sportsbet was first launched in 1993, and operated as a small outfit for over ten years. Matthew Tripp bought the company in 2005 for $250,000, expanding it to over 250 employees. Sportsbet merged with its British rival Betfair in 2009, and its popularity grew significantly. Today, Sportsbet is owned by the Flutter Group, which is listed on the London Stock Exchange. Its online presence has made it one of the leading online bookmakers in Australia.