NetBet Sportsbook Review

netbetCertainly not an online bookmaker recognised household name, but as a relatively new company, that is hardly a surprise. Based out of Malta, and founded in 2009, NetBet have been working to increase their presence in punter’s consciousness, and have recently teamed up with German handball team VFL Gummersbach, acting as their official sponsor.

In September 2014, NetBet merged with Poker770, taking over their customers, with the aim of providing a more complete service. Poker770 users were able to keep their current username and details when migrating over to the NetBet platform, and this has strengthened the Maltese firms’ footing in the online gambling marketplace.

In 2014, they claim to have operated at a 95.8% pay out rate and offer customers a sportsbook, live betting, a casino, and a poker room. We find out what their range of markets are like, how comprehensive their services are and whether they can be recommended.

Website

The site utilises a black, grey, white and red theme. The different sections can be accessed via a menu bar located at the top of the page, whilst the various sports can be found down the left hand side of the page. There is a useful search bar so customers can access their desired markets quickly without having to circumnavigate all of the different links. Live betting and betting highlights can be found in the centre of the page, with small icons positioned to the left of each set of odds, indicating the sport. The bet slip can be accessed on the right hand side of the page, with social media links and promotions also filling the space.

Odds are pre-set to decimal, but can be changed to fractional or American at the top of the screen on the menu bar.

Customers accessing NetBet from their mobile will automatically be redirected to the customised web app. This can take a little while to load but gives users access to most of the same features as the desktop site, with the poker room the only real absentee.

Languages

The site can be viewed in English, Spanish, French, German, Greek, Russian and Italian.

Markets

Football, horse racing, tennis, basketball, ice hockey and American football are generally perceived as the flagship sports for the top bookmakers, and NetBet have them all covered.

Football is by far the most popular betting event around the world, and there is very solid coverage from all corners of the globe. In total, there are odds for matches in 42 countries, with European and World competitions also covered. The top leagues in less heralded football nations such as Guatemala and Bolivia have matches priced up, although it is worth noting that NetBet decline to involve themselves with some of the European leagues such as Estonia and Latvia that have been open to corruption in recent years.

The odds on English football extend as low as the Ryman Premier league, and there is also betting on the English Premier League U21 action. The top 4 leagues in Germany are covered, whilst Spain and France both have odds for their top two tiers of domestic football.

In addition to the Euro leagues, basketball betting spans over 18 different countries, with the USA having odds for the NBA, WNBA and NCAAB.

With NetBet sponsoring a handball team, it comes as no surprise that they provide a decent number of markets for the sport. Odds can be found for 12 domestic leagues around Europe and there is also betting on competitions such as the European Champions League and the World Championships.

The betting on horse racing covers all daily UK and Irish racing. There is also racing from other areas around the world such as Valparaiso (Chile), and NetBet also price up a wide range of ante-post markets, both domestically and internationally (Cheltenham, Dubai World Cup etc.)

Odds

NetBet’s odds for English Premier League football are fair, without being market leading. A betting book without any inbuilt profit margin, would compile to 100% when odds are converted to percentages. Therefore getting as close to 100% as possible is desirable. NetBet’s games typically compile to around 105-106%, which is ahead of companies such as Betway, generally in line with firms such as Ladbrokes, Coral, Paddy Power and SkyBet, but behind BetVictor, Bet365 and Matchbook.

Handball matches are typically compiled to 108.5-109.5%, with the German Bundesliga game between Flensburg Handewitt v Magdeburg game worked to 109.2%, which was less competitive than Bet365’s 106.3% book, but better than BetVictor’s 112.4%.

Horse racing odds are not the most competitive. On 18th February 2015, 4 hours before the 12 runner 20:10 contest at Kempton, NetBet’s odds compiled to 124.4%. 2% per runner is not terrible, but most of the firms working to similar percentages, tend to offer Best Odds Guaranteed on their early odds.

Odds for other sports are again, reasonable, without being the most competitive.

Promotions

NetBet have a range of promotions to entice new users, and maintain their existing customer base.

The flagship promotion is the sign up bonus which offers customers 50% up to €50. Users need to enter the welcome bonus code WELCOME50 on the cashier page after depositing, and need to turn over the initial deposit once with odds of 1.60  or greater to activate the bonus.

Once the bonus has been activated, both the deposit and bonus amount must be played through a certain number of times before it can be withdrawn.

Customers from UK, Ireland, Jersey, Guernsey, Germany, Switzerland, Austria, the Netherlands, Denmark, Finland, Sweden, Norway, Japan, Canada and Australia must satisfy a 6 time rollover requirement (so a €100 deposit + €50 bonus x 6 = €900 wagered).

Those registering from from Bulgaria, Colombia, Belarus, Albania, Latvia, Hungary, Cyprus, Estonia, Armenia, Georgia, Uzbekistan, China and the rest of the world must play through their deposit and bonus 8 times on trebles and upwards with minimum odds of at 1.60  on each selection..

Customers from Poland, Portugal, Bosnia and Herzegovina, Burkina Faso, Benin, Ivory Coast, Czech Republic, Georgia, Croatia, Hungary, India, Kyrgyzstan, Lebanon, Lithuania, Moldova, Macedonia, Nigeria, Serbia, Russia, Slovenia, Slovakia, Romania and Ukraine are not eligible for any promotions.

The 6 times rollover requirement is difficult enough, but the bonus is almost worthless for customers from Bulgaria etc. as the chance of still having money in tact when turning over deposit and bonus amount 8 times on trebles upwards, is absolutely minute. This offer may appear generous in terms of monetary value, but it is very sticky and gets a big thumbs down in terms of achievability.

NetBet do have other concessions such as 20% refund on losses as free bets for Champions League football matches, ‘combi insurance’ for football multiples where one leg lets down the bet (stake refunded as a free bet) and other bonuses which are regularly updated. Again, these come with terms and conditions, but at least they are fairly innovative.

Customer Services

The NetBet website is owned and operated by Cosmo Gaming Company Limited, 209, Marina street, Pieta PTA 9041, Malta. However, their address for written correspondence is actually

Global Internet,
Flat 1,
26 Cleveland Road,
South Woodford,
London
E18 2AN

Customer services can be contact by telephone 24/7 on 0044 203 608 6024, or by fax at 0044 207 760 7171. There is also an e-mail form that can be found under the support section of the website, or customers can use the live chat function on the website.

Pros

  • Wide range of language options
  • Over 40 countries open for football betting and 18 for basketball betting
  • Live chat function for their sportsbook

Cons

  • Horse racing odds are not the most competitive
  • Bonus is unrealistic and unachievable for customers from Bulgaria, Hungary and other places mentioned

Verdict

The acquisition of the Poker770 database in 2014 signalled NetBet’s intent to grow as a business. Their poker room is strong, and the sportsbook is also very solid. There are a large number of sports on offer, and the market depth for each is impressive. Odds are not market leading, but are relatively competitive and although the sign up bonus may be a little misleading, there are a number of other original promotions which NetBet use to maintain clients and generate new business. Customer services are very accessible and there seems to be a drive to gain some of the UK market share, as the telephone numbers are based in England, and the sports on offer (UK & Irish racing etc.) seem focused towards this market. Recommended.

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