gross gaming revenue
time to make €250K
Up or down
Netbet has fought its way through the crowds to become one of our fastest growing European brands here at Stakersland.
The 443K members list is expanding with an impressive annual rate of 30-40%. It’s getting to the point where we’ll have to find a bigger plot of land to fill the rising sign. This overall growth has been helped by its ability to attract stakers from all over the EU, stakers who love nothing more than to hang out and bet under the warm sun of their Maltese headquarters.
The Netbet crowds get access to main sporting events such as Soccer, Tennis, and Basketball, as well as Horse Racing which is considered to be their third main market. Throw in the Virtuals and Esports and you’ve got yourself a well-rounded betting centre. A sharp eye on underage gambling is always a slight annoyance for someone offering esports, but it looks as though Netbet have it all under control though. Something that does catch the attention of our stakers is the advanced betting features available such as Add2Bet, SnapBet, and Bet Maker. An extension on the much-loved cashout feature gives stakers a nice twist on the betting process before and after putting their money down.
Moving on to limits and Netbet has decided to walk a different path with a €5,000 insurance feature in the event of sudden death or personal injury. In addition to that, any winnings at $250,000 or above can be used by NetBet for all media interests. To put this into perspective, Netbet would only need to operate for around 30 minutes to payout the sudden death insurance, and for only just over 24 hours should anyone win €250,000. It’s likely that the funds would be available for processing within 24 hours, but there would obviously be some time spent if you wished to decide on cooperating with Netbet’s representatives.
The Netbet staker community list is increasing annually by 30-40% and so now it is raking in up to €80M in gross gaming revenue. The community of nearly half a million stakers are spending on average around €15-20 per month within the varied mix of betting markets.
Looking at the Netbet revenue numbers and we found that the average income per staker is around €15-20, adding up to a gross gaming revenue of €7 Million a month. Roll that out over the year and the Netbet owners are raking in as much as €80M excluding expenditure, bonuses, and taxes, which is all estimated at half of that. Further taxes and revenue sharing are estimated to leave the Netbet company with about a 5-10% margin overall. Compare this to a close rival such as bet-at-home.com and their estimated €143 million in revenue and 300,000 members list, their yield per player is a lot higher at €40-50. The highrollers from the Monaco and the French coast is most likely the reason for this though. Comparing against Unibet, a high-end competitor, they manage an average yield of €30 per player from their huge 3.1 million members list.
The demographics of Netbet has been calculated by our statisticians and are as follows:
The Netbet social scene is a complicated one and it seems as though the customer service team sometimes struggle with how quickly everything is growing. The Netbet social rating has been a rollercoaster ride with opening and closing of official review accounts, along with an up and down rating from poor to positive and back to poor again. A few major milestones along the Netbet road is a likely link to these changes in rating. For example, pulling out of Portugal but obtaining a Romanian license in 2015, announcing partnerships alongside Steaua Bucuresti FC, West Bromwich Albion FC, and OGC Nice, not to mention an intriguing NetBet taxi service in London. No stone is left unturned for the Netbet social team but it has left a tough job for the support team to keep a firm hold on.
Many players complain about the slow and unhelpful support team, especially when payouts are concerned. Numerous technical issues and repeated downtimes also happen to coincide with suspension of real cash balance accounts. Other issues include lengthy verification procedures and complicated bonus terms. The poor rating has stuck ever since the early days.
Twice as many complaints as there are reviews however most of the issues were resolved. Most issues are based on repeat verification documents before a withdrawal and the overall delay on payouts.
If any of you stakers get into some online betting trouble at Netbet then the following rules should help to resolve them in the quickest time possible. You get up to six months to address any complaints to the Netbet support team and a resolution should be provided within eight weeks. For anyone looking to push their issue further in the UK then the Netbet ADR in the shape of IBAS is available, just remember that this route can take several months for a final decision.
Netbet’s social scene has struggled to keep up with the surge in stakers and the various challenges that their newfound popularity creates - some serious strategical thinking required.
It’s simple to see that the meteoric rise of Netbet has caused serious issues on the customer service side of things. An increase in customer complaints has been clear and it seems as though the same issues keep on popping up. There are social media profiles on Facebook, Twitter, and Instagram, but these are purely for news and entertainment whilst complaints are likely to be ignored. Overall, the Netbet social scene is completely untied and there is little cohesion and strategy. If you want your issues resolved then expect a battle on your hands.
Stakers can sign up to Netbet and receive a standard looking welcome package of bonus money and spins. You’ll be gifted the €15 bonus and €15 worth of free spins once you place and settle €30 in cash bets. Take a quick look at what other stakers are currently think about the offer:
“What should be acknowledged is the great Netbet virtuals free bet promo. Every week you can get freebies to play and the terms are really simple. What could be better?”
“I love Netbet. Three free bets are a nice way to start and if you run out of free stakes then you can also try contacting their support for additional ones.”
“I was shocked when I bumped into their welcome offer. You should deposit 30 and place a single bet with it - that’s ridiculous. No other bookies have such a huge amount you need to wager.”
“I won’t recommend this platform to anyone. There are only two bonuses: 1 for virtual sports and an impossible welcome package with 3 free bets. Other sites care more about how to keep their players.”
It’s a pretty sad state of affairs on the Netbet promotion page. Only two bonuses are available for sports stakers with free bets given as rewards, take a look below for the details:
|promo name||promo type||requirements||restrictions|
|welcome bonus||Bet €30 on any sport either as a single or a single line multiple bet with two selections or more||Deposits using NETELLER, PayPal and Skrill are not eligible for this promotion|
instead of 100% bonus, as you would expect to see in stakersland, you would only be getting a 50% bonus on your first deposit on sport up to €50 (or equivalent currency). your bonus is subject to 8x turnover requirements.
|promo name||promo type||requirements||restrictions|
Bet €10 on Virtuals, Get a €5 free bet weekly
|free bet club||Bet a €10 single on Virtual Sports to receive your free €5||Minimum qualifying odds of 1/1 or above|
once you bet €10 single on virtual sports, you will then get a €5 free bet to use on virtual sports. the maximum amount of free bets players can receive is €5 per weekend. the minimum odds are 1/1 and no opt-in is required to claim the offer.
It all looks a bit lonely outside the Netbet premises with very little in the way of enticing offers and bonus banners waving in the breeze. Stakers like to see variety but there is no such thing here with no incentives for you to take a peek inside. The two offers available are both free bet rewards and although the conditions are simple to follow, the qualifying bet is far from player-friendly and a lot higher than many of their rivals.
Netbet utilise the SBTech software platform which comes with modern betting slip features.
You won’t find a more passionate team of sports betting and technology fans than right here at Stakersland. We’ve turned our passions and hobbies into our career and our expert team analyse all the nooks and crannies of each premise within the park. Why do we do this? It’s simple really, each site examination ensures that each betting shop is doing all it can to provide you with the best betting experience.
Netbet is powered by SBTech who are based in Bulgaria although the recent takeover by US giants DraftKings does bring a change in the overall structure of the company. Saying that though, the majority of the developers are still working out of Bulgaria and so the company still get to pay that convenient €16,000 per annum salary. This is a lot less than what some American developers are earning, in fact, it is up to a quarter of the total annual earnings for the senior developers. The SBTech developers are currently working on various technologies that include MS SQL for their database, MongoDB for the NoSQL solution, as well as NET Framework/C#. However, the overall feedback from working at SBTech does range from content employees to those who do not recommend working at the company full stop, due to poor organisation and unpaid overtime.
Major sports include Football, Rugby Union, Motor Racing, Basketball, Tennis, Golf, and Horse Racing. It’s clear that their markets are aimed to meet all demands across Europe.
A classic betting slip for singles, parlay, and system bets. The bet also makes easy work of the additional Add2Bet, SnapBet, and Bet Maker features.
Major events are tracked with scores, times, important action points, statistics, and a useful heatmap. All of which is supplied via Sportradar.
Netbet features up to 99 in-play football markets and 145 pre-live markets for stakers. Elsewhere, basketball offers 47 live and 83 pre-live markets, whereas Tennis gives stakers 33 live and 30 pre-live markets to bet on.
The betting margins at Netbet are just below average for the top events which is a positive for all you stakers out there. The pre-live margins for football are 4.2% with 11.4% for in-play events, Tennis comes in at 5.3% in pre-match betting and the live margin is set to9.3%, and Basketball margins can be found at 4% for pre-live and 9.1% for live odds.
Netbet provides a useful set of statistics and results for their stakers to check up on before and after placing their bets. Sportradar is the source for the statistics and opens up a dedicated window that covers a wide range of countries and sports.
|Sports||margins||live margins||markets||live markets|
It’s been concluded by our team that the margins at Netbet are relatively low on the top events which is a positive sign for stakers. You can find betting value here but the range in margins is also quite wide for most sports, so you do need to keep a sharp eye out to ensure you’re getting the best odds possible. The good news is that the low ends of the margin range is attractive and these weigh up well compared to big-name rivals like SkyBet and Bwin.
Your financials are an important aspect to the whole betting experience and so we want to give you all the ins and outs while you’re here at Stakersland. Our team of specialists are on hand to talk you through the positives, negatives and important talking points, so read on to find out all about our full Netbet banking overview.
Payment Method Restrictions
Which payment methods are valid when claiming my bonuses?
All of the payment methods are eligible for the welcome bonus except for PayPal, Skrill and Neteller.
The Influence of Third Party Agencies
What checks are being made and do they use any third party agencies?
Netbet T&Cs refer to their 'source of all funds' procedure where from one end you agree that your funds 'are derived from legal activities and that you will not use the Websites for illegal or fraudulent activity', and from another side Netbet 'reserves the right to discontinue or block the Account(s) of the Player' if there is any reasonable suspicion as to the legality around the source of the funds. The terms also state that an extra ‘source of wealth’ verification using a unique code via snail mail might also be required.
Personal Data Transparency
Will they inform me about the automated checks being performed?
Netbet make it clear that they perform credit checks to verify the legal age of stakers, with identity checks being performed after account creation. However, the player will only know about this check if it fails (a message will appear, saying that the identity check failed and verification documents must be uploaded). It’s doubtful that Netbet uses the information any further considering their low average spend per player of €15 a month.
Social Media Communication
Will my financial disputes and complaints be answered on the social media profiles?
We found an active social media presence on Trustpilot with an effort to resolve issues up until the end of October 2019. No communication can be found thereafter though and Facebook is purely for news and adverts. AskGamblers seems to be their priority and all complaints are being resolved with a positive communication link between players.
Are my banking transactions with the bookmaker private?
Unfortunately, the Netbet company name will appear next to all your personal banking transactions and there is no option available to hide it.
Withdrawal Timeframe & Common Complaints
How fast are the withdrawals and what do stakers complain about the most?
In accordance with our banking tests, Netbet takes anywhere from 24-48 hours to approve your withdrawals. However, they do reserve the following timings:
- Visa/Mastercard – 4-8 working days
- Trustly – 4-12 days
- PayPal – Instant
- Wire transfer – 4-12 days
- Bitcoin – 2-4 days
On the other hand, many of the complaints on the social networks are mostly based around the lengthy ‘source of funds’ checks being made, lasting for at least a week and blocking players from withdrawing their funds. Just be prepared for possible unclear ‘source of funds’ and ‘source of wealth’ checks on top of the official approval timings if you do win.
Player-Friendly Withdrawal Limits
What are the minimum and maximum withdrawal limits available?
The minimum limit of 10 GBP has been set for all payment methods and the official maximum limits for payment methods are as follows:
- Visa/Mastercard – 35,000 GBP
- Trustly – 5,000 GBP
- PayPal – 5,000 GBP
- Wire transfer - No Limit
- Bitcoin - 500 GBP
Side Note: there are no other financial limits within their term and conditions.
Withdrawal Options & Additional Costs
What are my banking options when withdrawing my funds and do they add fees?
Your Netbet withdrawal options are Visa/Mastercard, Trustly, PayPal, Wire transfer and Bitcoin.
Be aware that a 1.5% fee is applied by Netbet to all withdrawals higher than 500 GBP, even if the sum is split and distributed to different payment methods.
Regulatory Check Transparency
Are they clear about the Source of Funds and Source of Wealth procedures?
The T&Cs state that the ‘source of funds’ verification will be performed in line with AML regulations, but no clear list of the required documents is provided. In fact, their support team only confirmed that such checks do exist but the list of documents cannot be provided as it depends on each individual case.
Comparing against other big players in the UK and Europe, Netbet offers a lower than average banking service. Slower than average processing times, a fee applied to all withdrawals bigger than 500 GBP, average limits, and the vague details surrounding the ‘source of funds’ process are not positive signs. The one positive we can find is that they keep an open communication line to all players on AskGamblers.com, solving all financial issues as quick as they can. Overall, more improvements are required to create a friendlier banking service at Netbet.
Customer support at Netbet is something that we can shout about positively, for the most part anyway. If you like prompt replies then you will find them on the Netbet premises, although you might get one or two generic answers to some of the common questions. It’s also worth pointing out that fluent English is spoken and written amongst the team as well.
As a starting point, stakers are given a wide range of contact channels to choose from that include the traditional email and phone options, as well as live chat and even a whatsapp messaging system. To give you a true picture of the service provided, a full-length test was carried out of the Netbet support team, so please read on as we pick out all the important notes from our team’s full customer support review.
Support Speed & Resolution
How fast do they reply to my general queries?
Netbet can be contacted via phone, whatsapp, live-chat or email. All details are available on the Contact Us section of the site. The live chat is your fastest route but the service is only available from 09:00 to 23:00 UK time. After opening the chat, an operator connects instantly and the average response time is currently 40 seconds.
Live Chat Access
Is the online live chat tool available on the site?
Live chat is available for new players which is useful as the email route takes up to seven hours. Active members get priority of course, with responses in under 60 seconds and all information is given on request. Free bets are sometimes given depending on your own account activity.
Support Team Competency
How quickly will the support team reply to complex queries?
Any complex queries including things like special promotional terms take around 1.20 minutes, whereas email messages take up to seven hours. An automatic email requesting your details will be sent before you start your query as well.
Level of Technical Expertise
Are the support agents sufficiently trained to answer technical queries based on odds, margins, and markets?
The first line of support will dismiss any technical questions regarding odds, margins, and markets with copy-and-paste answers, no further explanations will be provided.
Unregistered Staker Support
Will the customer service team interact with unregistered stakers and will I get a free bet?
Players without Netbet accounts will still receive assistance on any inquiries regarding the site and bonuses. Free bets will only be offered to registered players though and this is all depending on recent activity.
Professional & Friendly Service
What type of response will I get when requesting a bonus from the service team?
It’s worth trying to bag yourself a free bonus via the Netbet customer support, but just remember this will only be possible if you already have an account registered. The team do expect these questions though and they are well-mannered, so don’t hesitate because if you don’t ask, you don’t get.
Customer Service Knowledge
Will the agents provide the correct information about payment limits when compared to the terms and conditions on the website?
We found that all the important deposit and withdrawal information provided within the live chat is correct and matches up with the T&Cs, yet the copy-and-paste answers did lack a personal touch.
Willingness to Help Out
Will the support representatives help me navigate around their website?
The Netbet support team are ready and willing to help you with all site-related questions. Additional links and suggestions are provided to help you on your way.
Does the support team have a high tolerance level for repeated bonus requests?
We were happy with the team’s overall tolerance of our repeated bonus queries. The operatives were happy to spend as much time as was needed to ensure that we were happy with the outcome of the chat.
Onsite Support Efficiency
How efficient is their onsite Helpdesk compared to the competition?
The helpdesk section is well developed and acts as a convenient source of assistance. The same can be said for the onsite FAQ section which contains all the common questions and answers that a new player might need.
Stakersland hold the Netbet customer support in high esteem as catering for hundreds of thousands of members is not easy. The occasional copy-and-paste answer loses some of the personal touch but we’re glad to see they listen to and talk to unregistered players. Response times are good and their overall tolerance to bonus bagging is impressive.
We aim to please at Stakersland, so read on to find our very own Netbet FAQ which should help you out if you want to take your issues and queries a step further:
Are you able to complain about Netbet?
Yes, you are. If the customer support answers are not to your satisfaction, then your complaint can be directed to the following address: firstname.lastname@example.org
Where to complain if they refuse the withdrawal?
In any case of Netbet refusing the withdrawal of player funds, an official complaint can be sent to their ADR (IBAS).
How do players rate the Netbet customer service?
Players rate the Netbet customer service support negatively, as they don’t want to deal with automatic responses or wait for 7 hours to get a simple answer.
Up or down
Netbet manage to keep their betting premises open for 98.31% of the time and compared to the rest of the sites at Stakersland, it is a little low. Most of the bigger betting brands keep a 99+% uptime and this is something that Netbet will need to improve on. Downtime at any of the premises in the park only ever leads to frustration and often a loss in custom. The big portion of downtime during March 2020 was a huge issue for the site and now stakers only hope that this type of prolonged downtime will not happen again.
Netbet works on a ASP.NET system to process all their data which is not the fastest, but it’s a stable choice, nonetheless. The React code within the client helps to speed things up but the issues regarding jQuery and its associated library still stick. Lastly, the site uses HTTP and Standard Websocket requests for transferring data.
DDOS protection at Netbet is looked after using Imperva which allows a high level of security when dealing with large data loads, not to mention the quick content delivery. The past downtime issues do raise some question marks over this setup though.
A wildcard SSL certificate issued by Comodo is in use across all subdomains. The use of the SHA-256-bit data encryption is a positive sign, as is the 2048-bit encryption. The overall cost of this certificate for Netbet comes to a total of $339 per year.
It should be made clear that Netbet uses the same software backend as many other betting names at Stakersland. SBTech is the name of that software and past issues do raise big questions in regard to that overall uptime percentage. Saying that, there is some decent tech under the Netbet hood so you shouldn’t be completely disheartened. As with all technology though, it needs to be kept on top of and Netbet and SBTech need to make some changes to improve their overall structure and keep their stakers happy.
countries where netbet is licensed
What documents do Netbet require for account verification?
The first check consists of information details against credit reference agencies which is followed by age confirmation, identity, payment card details, and the player’s residential address. As stated in the T&Cs, players are not able to deposit, access the free-to-play games, or gamble in any way before these checks are completed. You may find your account suspended if there is any doubt to the legality of the source of funds as well. Always be prepared to send additional documents and all highrollers are recommended to complete their checks prior to playing.
How long does it take for them to settle bets and payout?
In most cases, bets will be settled almost instantly as and when the official results are stated. The SBTech software uses combined sources from the internet as well as trading offices within Bulgaria which helps to settle bets efficiently. There may also be delays as a result of any suspicious event activity, and you might also expect a slight delay when betting on the smaller leagues as it takes extra time to confirm results. Take note that some stakers have mentioned a process of more than seven business days when withdrawing more than 1,000 GBP.
How to request a withdrawal and how long might it take?
The main point to mention here is that stakers can only withdraw from Netbet if a deposit of at least 10 GBP has been made, the minimum withdrawal is also 10 GBP which is considered the going rate for all premises found at Stakersland. According to the T&Cs, all withdrawals should be processed on the same day. But as we have learned, this is not always the case and it can take up to seven business days and longer sometimes. Further delays might also take place depending on the bank and payment choice that you use.
Are multiple accounts allowed?
Any accounts connected to the same person are considered as ‘multi-accounts’ and as such are strictly forbidden. It is current practice that Netbet will keep the first account open and credit that balance with all other account balances that are due to be closed.
Is it safe to open an account with Netbet?
You might go through a lot of verification procedures to get your account up and running, especially when you look to withdraw larger amounts. It’s quite clear that many players have suffered at the hands of this lengthy process but at least many of these issues do get resolved. Saying that, it should be relatively straightforward for all the low betting stakers out there.
VPN Usage – Legal or Not?
The information on this is very sparse and neither the customer support team or the terms and conditions could give us the details we wanted. All modern betting sites have access to the tools that detect VPN use and it’s also worth bearing in mind that those much-talked about withdrawal issues might be related to VPN use. If you do wish to use VPN then we suggest talking directly to a Netbet representative to cover all your possibilities and make sure you’re not going to break any player account rules.