gross gaming revenue
time to make £250K
Up or down
Redbet has downscaled into a betting shelter that offers a distinct hippie community feel where the number one goal has always been ‘staker happiness’.
It is another story of a bookmaker not quite reaching their goals here at Stakersland, despite all their best intentions. Perhaps that simple mission of creating happiness inside an engaging and trustworthy place was just not enough to entice the stakers long term. The team here at Stakers HQ are fully aware that they have tried numerous attempts to improve their betting rooms. But nowadays, Redbet has decided to retreat from the center hub of Stakersland and cater to a small community of 22K stakers in their underground shelter. Most of that community are British based with a small group coming from the northern stretch of Finland. The stakers here are leaning towards European football mostly which is then followed by basketball, tennis, and some winter ice hockey action. The Redbet live in-play markets have been torn down and developed more times than we can count, and it is presently geared up as a Kambi skin without any Redbet specifics in place. Due to the bookmaker not being quite in touch with the betting hub of Stakersland, it looks as though they have missed out on the growing area of esports. There are minimal betting options though with Rainbow 6, CS:GO, Dota 2, and League of Legends markets available, so the esports buzz has not completely passed them by.
Redbet is a small operator but from our understanding they are consistently trying to offer limits above the market average in relation to their size. Their limit of £250,000 applies to all competition and events connected to domestic leagues within the top-level for England, France, Denmark, Italy, Spain, Netherlands, Germany, Norway, Sweden, and Scotland. All of the main domestic cups in those same countries applies to that £250,000 limit as well. Furthermore, a limit of £100,000 applies to all the international tournaments and club friendlies. Lastly, with football still in mind, the limit of £50,000 applies for all competition and match offers excluding beach soccer and futsal. Other sports like tennis start with limits at £150,000 for the Grand Slalom events which is followed up by £75,000 for ATP and WTA events, £40,000 applies to all other tennis events. Ice hockey, handball, volleyball, cricket, and basketball all have £100,000 limits across the top-level divisions and this drops to £25,000 and £50,000 payout caps for various minor divisions and events. The remaining sports that are lesser-known come with various limits that range from £25,000 to £50,000 as the maximum payout. To payout the maximum winnings of £250,000 at Redbet, it would take Evoke Gaming a running total of 6 days and 12 hours. However, most likely these funds would not be available within a 24-hour period for processing, and so these limits are unsafe in accordance to the present bookmaker averages at Stakersland. To payout the lower-end limit of £25,000 for something like Handball, Redbet would need to be on the fly for 12 hours non-stop. If we look at the top-level shareholders of Redbet then the company behind Evoke is actually Mr Green, which in turn is owned by Stakersland giant William Hill who are a publicly traded company. With that said, should the payout be above the operating revenue of Redbet then we envisage that those powerful shareholders would step in to cover the costs.
Redbet is currently producing a monthly gross gaming revenue of £15M but they have only started to make a profit since the Mr Green takeover in 2017. The 22K staker community is still showing some loyalty though with an average monthly spend of £45-55.
The money books of Redbet shows around £1-2 Million in gross gaming revenue per month and an average spend of £45-55 per staker per month. The annual gross gaming revenue is therefore based on a total of £15M. It was reported back in 2016 that operators Evoke took a hit on profits with a loss of £4.6 million, this was due to a major outlay on a new betting technology platform. However, new owners Mr Green then went on to say that their acquisition will contribute positively to Redbet’s overall operation costs and expects to see partnership growth of more than £2.5 million per year, which should have been in full effect as of 2019. The tiny community of Redbet makes it hard for us to find a suitable rival, but after much debate, we found the Swedish bookmaker Expekt with 25,000 stakers. Expekt generate roughly £10-12 million in annual gross gaming revenue with their profits floating under the £1 million mark. It is worth noting though that Expekt has had to recently withdraw from the British staker market due to a regulatory clampdown though. We can also compare the Redbet bookmaker with 10bet and their own monthly £350,000 gross gaming revenue and average staker spend of £15-25. The 10bet annual revenue therefore currently stands at around £4 million excluding expenditure, but all those additional costs and new legislature requirements and restrictions has brought that profit right down and is now more than likely dipping into a negative number.
Most of the stakers visiting the old Redbet betting shelter are from Great Britain but it is widely known that they are using a third party sportsbook, and so many stakers simply move on to the Redbet casino. You will likely see a few thousand Finnish stakers and around a thousand German stakers roaming around the Redbet betting shelter too.
Redbet carry out a systematic online social communication service which has helped them rack up some respectable ratings across the three main social profiles; Askgamblers, Trustpilot, and LCB. Due to this ongoing communication by the team, the Redbet name has enjoyed a positive buzz throughout all the time that their social profiles have been active. Ever since the takeover and the Redbet relaunch by MRG (formerly Mr Green & Co) there has been a notable increase in positive reviews since that October 2018 date. The main reason behind all these encouraging ratings comes down to one simple fact; the Redbet team take the time to interact with their stakers with unique messages and that all-important human touch. Useful links, explanations of the terms and conditions, and detailed descriptions of the processes the team are carrying out to resolve staker complaints are all included in their responses. For all the positive reviews and ratings, there are still plenty of complaints with one or two issues reappearing such as the lengthy verification process, withholding account funds, the inefficient customer service, breaching bonus conditions, closing accounts without any reasons being offered, and delayed withdrawals. One or two complaints also include issues with their betting limits and winning bets being voided.
The profile was claimed back in October 2018 and a total of 37% of the reviews are marked down as ‘excellent’, 45% are marked as ‘bad’, so there is a mixed feeling on this profile. Many issues are mentioned here with lengthy processes being the leading problem for stakers.
There is a total of 86 reviews at the time of writing with 19 complaints, six of those are resolved and three have been rejected. Again, the issue of lengthy withdrawals and verification processes keep being mentioned by the stakers as well as software problems and unfair bonus conditions.
The Redbet profile holds a total of 680 votes and 91 comments in total. Most of these reviews are marked down as ‘Green’ with the average rating being given between 4 and 5 points. Positive ratings have always been displayed here with only a few complaints being made about the limited list of eligible countries, as well as one or two problems with the bonus conditions.
All stakers are free to send in their complaints to the Redbet customer support team and the average response is around eight weeks for all UK-based stakers, and then it is up to 10 weeks for all stakers from other countries. The official ADR for Redbet is eCogra and you can send your official complaints to the team there or straight to their official regulator, the Malta Gaming Authority.
Redbet’s efficient social team carry out regular checks and try to offer a constant stream of detailed and helpful replies. It is a heroic attempt in trying to safeguard their fading Stakersland reputation.
Here we have a clear example of what can happen when a bookmaker makes an effort to listen and interact with their stakers, no matter what their complaint or praise may be. Both the Askgamblers and Trustpilot profiles enjoy unique replies to positive and negative comments. The requirement of the support team to interact with stakers has always been noticeable here, but especially so when Mr Green took over. The help and guidance from a well-established operator and the top-level management from William Hill has obviously given them a lift, and this is all portrayed in the consistency of their positive ratings.
As it happens all too often with startups, the excited yet inexperienced owners struggle with ideas on what to do next when something fails. New sportsbook platforms and welcome bonus banners are great for new stakers entering the Redbet betting grounds, but as it turns out, there is a clear lack of bonus offers available for you after that welcome bonus.
“I wish they offered more than just a welcome bonus, but it’s still not bad. Any player may get £100 across three free bets - I think it’s a decent opportunity.”
“In my opinion their welcome bonus is decent. The rules are clear, the qualifying odds are standard, and the reward is big. Just try it out.”
“I can’t believe that this site has no promotions for sports players. It’s a huge disadvantage. I would prefer to play somewhere else, in all honesty.”
“The only sports promotion that you can try is their welcome bonus with a crazy 1.8 minimum odds requirement. To get £100 in free bets you should place £200 for the first bonus part, and then wager £100 for the second and third parts. Just terrible.”
As we mentioned, there is only one solitary offer on the Redbet bonus board and that is the welcome package. It doesn’t hold much hope for a long term relationship between stakers and Redbet, but we’ll talk you through what is available and what we think of the rules found within this lonely offer.
|promo name||promo type||requirements||restrictions|
Sports Welcome Bonus
|welcome bonus||To claim this bonus, you are required to deposit and wager £400, the minimum odds is 1.8+||Restricted to residents of the UK|
start your casino adventure by playing sports at redbet – this is the only way that you can describe their new welcome bonus. as it goes, the same uninterested story happened with mybet after someone there had decided to install the kambi program. so, here is how it works at redbet. to claim your first free bet you are required to deposit a minimum of £10, and as soon as that is wagered and settled, you will be rewarded with 25% of your stake back up to £50 (to claim £50 you would need to wager £200…). carrying on with this wagering absurdity, you are required to wager a further £100 to get a £25 free bet, and then once more again to receive the remaining £25 free bet. oh, and don’t forget that minimum 1.8 odds requirement too.
The Redbet bonus campaign is a tough area to summarise due to the sheer lack of promotions available, but what we can understand is that any sports betting knowledge is nearly non-existent here. As we see it, as soon as those casino venture capitalists tap into the sports betting industry, things like free bets often seem boring to them and so they start to reinvent the wheel to stand out in this competitive industry, but that is not what stakers want. Not even taking inspiration from the likes of the Paddy Power or Coral promotion pages seems to be an option here. It’s all or nothing and, as it turns out, some stakers would rather take nothing at Redbet. The idea behind integrating a 1-2-3 bonus adventure into the sportsbook is obviously not working, as there is very little interest. You might see one or two casino players taking a peep, but most stakers will simply turn their back and head off to find other opportunities elsewhere in Stakersland.
Redbet’s sportsbook platform is now being developed by the international software developer, Kambi.
At Stakersland we aim to provide you with the best possible betting entertainment available and that means keeping tabs on all the bookmakers that set up in our park. Our expert team of betting techies take the time to scrutinise all the betting tools and features to ensure all the best efforts are being made to keep your sports betting enjoyable. Read on to find out what we uncovered when looking into the technology under the roof of Redbet.
After the Mr Green acquisition, Redbet implemented a switch over to the NYX platform in February 2017. According to the new chief of Redbet products, Hampus Eriksson - “With the migration of Redbet over to the NYX OPS platform, all of Evoke Gaming’s brands are now running on one award-winning gaming system. This allows us to focus on our mission to deliver the best entertainment experience possible for our current and future customers". Needless to say, the core expertise at NYX lies firmly within its casino products. So, in September 2018, Redbet announced that its sportsbook would make the switch over to Kambi. Jesper Karrbrink, the Mr Green Ltd CEO, stated: "Redbet's new sportsbook brings entertainment and adds value to a wider range of player preferences which is key when introducing the brand across more markets.Thanks to Kambi's flexible product and our unique features, we believe the new Redbet sportsbook will play perfectly among our customers and that our players will appreciate the improved user experience and design".
A little more about Kambi then, as they are now an integral part of the Redbet journey. Most of the technology development has been outsourced to both Manila in the Philippines and Bucharest in Romania. The salaries being paid here include the £1-6 per hour rate within the Romanian offices and experienced Java developers will get around £1,000 per month, which is a huge saving for a multi-million euro business. For those who know their tech then we found the Kambi setup to be Java based which is then powered by Spring Core, REST/JSON, Postgres, Kafka, JMS/AMQP, Embedded Jetty, ZooKeeper, Linux, Maven, RxJava, and JBehave.x. For the Kambi database, it was determined by our team that they are currently using PostgreSQL.
Redbet focuses on British and top European football leagues which is followed by basketball, tennis and also ice hockey in the wintertime. The focus is on in-play betting and live matches which have been integrated through the site and offered on the home page as the leading markets. There are no player-specific areas being implemented nor any geolocation settings when it comes to sports betting. So, as it stands, all stakers from the UK and Germany are presented with a matching betting market layout.
Redbet are using a market standard betting slip which makes full use of custom systems such as Trixie, Patent, Canadian, Heinz, and Yankee bets. We found no link to bankers and they also seem to be missing correlated betting options for both combined and system bets. Kambi delivers the cashout option as standard nowadays though, so at least that is a betting tool available to stakers here.
Redbet makes use of a visualisation tracker and a timeline text tool that lists all major incidents in chronological order. You will find form, league table, and head to head data for all top-tier leagues. From the very same widget you will also be supplied with overall data such as shots blocked, shots off target, shots on target, as well as things like corner kicks for most of the events available in the markets.
Betting marketsRedbet offers stakers up to 121 markets during football events and there can be 289 markets available up until the start of the matches. Tennis can provide around 55 live markets and anything up to 27 pre-live markets. For sports such as basketball, you are likely to find 114 live markets and 205 pre-match markets.
The sports betting margins at Redbet do happen to be in line with the market averages out there in Stakersland. For the three main sports we found that football provided a pre-live margin of 4.16% and live odds go with 3.28%, for tennis the margin range is between 6.49% for pre-game and 6.29% for live, and in ice hockey we found pre-live margins be at 5.33% with live margins staying at a 7.24% point.
Redbet does not provide any statistics or results for previous matches, though you can find head to head, league table standings, and all connected team information on upcoming events via an external Sportradar window. Results can be retrieved by clicking the "Statistics & Live Score" link that takes you directly to the Sportradar site.
|Sports||margins||live margins||markets||live markets|
The Redbet margins are dictated by Kambi and so we can see similar margin ranges here as we do at many other bookmakers in Stakersland. Let’s show some quick comparisons to give you an idea of the betting value here. If we take the most popular sport at Redbet which is football and their margin range of 6.3-6.6%, it looks a lot more enticing than what you can find at the bookmakers like Boylesports and 10bet, both of which are providing stakers with a 6.9-12.7% and 7.27-12.7% betting margin range. The tight betting margin offered by Redbet and Kambi would be something that football stakers appreciate, and so we can see why some are still placing their football bets with this bookmaker.
The Stakers HQ financial team have fact-checked and examined all the financial data at Redbet. We do this with every bookmaker to ensure that everyone is pulling their weight in terms of the ongoing regulation changes. Read on to find out what we discovered behind the scenes at the Redbet betting shelter.
Payment Method Restrictions
Which payment methods are valid when claiming my bonuses?
Stakers who deposit using Neteller, Skrill or Skrill 1-Tap will not be eligible for any Redbet bonus offer.
The Influence of Third Party Agencies
What checks are being made and do they use any third party agencies?
Redbet sends the information that stakers give them to authorised credit reference agencies and/or fraud prevention agencies, as stated in their terms and conditions. This information is used in order to ensure compliance with the Redbet AML and Source of Funds policies. However, neither of the terms and conditions related to these checks on the site state how your information is going to be used and which agencies are exactly involved.
Personal Data Transparency
Will they inform me about the automated checks being performed?
Social Media Communication
Will my financial disputes and complaints be answered on the social media profiles?
The Redbet team is deeply involved with their staker community, replying to all reviews on Trustpilot (both negative and positive, containing finance-related complaints or not). Their representatives also take care of staker complaints on Askgamblers, with every complaint answered and about 1/3 of them being successfully resolved in favour of the staker.
Are my banking transactions with the bookmaker private?
Either of the Redbet or Evoke Gaming Ltd names will come up on the transactions in staker bank statements, and this will be dependent on your chosen payment method. However, they do not provide an opportunity to change that.
Withdrawal Timeframe & Common Complaints
How fast are the withdrawals and what do stakers complain about the most?
According to our tests, the withdrawals are approved within the same working day. When it comes to both debit cards and bank transfers, they are processed within the timeframe of 1-5 working days. Skrill and Neteller are basically instant with the processing time taking 1 to 10 minutes. The same time is also applied to direct bank e-Payments made to Swedbank, OP-Pohjola and Danske bank/Sampo. All other banking e-Payments take up to three working days to be processed. It is the verification process that stakers complain about because in many cases it complicates the whole withdrawal process.
Player-Friendly Withdrawal Limits
What are the minimum and maximum withdrawal limits available?
The minimum withdrawal amount is £20 for all payment systems. The maximum limit is £3,000 for cards, £10,000 for e-wallets. There is no upper limit for bank transfer withdrawals in Europe when using IBAN details, though the marketing limit of £1,000,000 is advertised within the deposits and withdrawals page.
Withdrawal Options & Additional Costs
What are my banking options when withdrawing my funds and do they add fees?
Redbet provides withdrawals to Visa and Visa Electro credit and debit cards, Skrill and Neteller e-wallets, direct bank e-Payments to a number of European banks, and the traditional bank transfer option too. A currency exchange fee of 1.5% is applied to all transactions where the currency is other than EUR, but there are no other fees being applied.
Regulatory Check Transparency
Are they clear about the Source of Funds and Source of Wealth procedures?
The Source of Funds checks are mentioned in their terms and conditions along with all other checks. According to the Helpdesk, to establish the source of funds, Redbet requires a handful of documents to confirm your occupation, salary, and any other sources of income or sale of property/assets. However, the exact list of documents is unavailable, nor were the customer service team able to provide an exact list that the financial department uses to perform these checks.
Redbet offers a wide range of payment options but there is a currency exchange fee in place for all transactions outside of EUR payments. The upside is that the withdrawals at Redbet are processed within the same business day for most cases. However, these are shadowed by the long verification procedures that often lead to the suspension of funds until those checks are fully completed. The minimum withdrawal limit is low for credit/debit cards and below the industry average, and the upper £1 million withdrawal limits should keep most stakers pleased. When it comes to the Source of Funds procedures then the process can often take longer than expected. The directions published on the website are missing details and the customer support representatives are not equipped with enough information. The absence of clear and established procedures would likely scare existing stakers off, and most new stakers would find it hard to enjoy the unclear setup found at the new Redbet.
The Redbet customer service team has been taken over by Mr Green and so we did find that the agents were polite and that they were happy to offer assistance, even to unregistered stakers. However, patience is required with 10-15 minutes often needed to answer any general queries connected to sports, plus technical queries will not be dealt with by both the live chat and email support teams. The support team itself is available through live chat, email, and telephone from Monday to Friday 9.00-18.00 CET. Twitter is also displayed as an option, but we were advised not to bother with that option and to use the email channel instead. Also, as we expected, there was no SLA information in place across the site. But, you can get a good idea of the support service available with Redbet through our analysis summary below.
Support Speed & Resolution
How fast do they reply to my general queries?
You cannot find the chat icon across the site and so you will need to click through several pages to find it (Support > General > How can I get help?). A chatbot starts and greets you instead of a human operator as the first point of contact, however, there is a button within the chat window to contact an agent and it then takes around 1-2 minutes for someone to join.
Live Chat Access
Is the online live chat tool available on the site?
Live chat is available for unregistered stakers. The support team does not provide bonuses upon request and the tone of the conversation was polite. It takes them about 2-3 hours to get back via email which is reasonable in relation to many other bookmakers in Stakersland.
Support Team Competency
How quickly will the support team reply to complex queries?
Level of Technical Expertise
Are the support agents sufficiently trained to answer technical queries based on odds, margins, and markets?
The support representatives are not dealing with technical questions regarding sports betting. It takes, on average, about 13 minutes for an agent to confirm an event being available for betting. There is not even any basic understanding about what is being displayed in the sports section nor do they seem to be interested in the upcoming events schedule. Needless to say, those existing Redbet stakers would not enjoy this casino approach that Mr Green is now taking towards the Redbet brand.
Unregistered Staker Support
Will the customer service team interact with unregistered stakers and will I get a free bet?
The support team is not offering any kind of bonuses to stakers without a Redbet account. We were asked to check the promotions page and find out whether there are no deposit bonuses available. We experienced zero signs that the customer service team are making any attempts to acquire new stakers customer, nor are they interested in keeping existing stakers either.
Professional & Friendly Service
What type of response will I get when requesting a bonus from the service team?
Upon asking for bonuses, we found their replies to be polite and the agents use their own wording on most occasions. We were told to look for ‘no deposit’ free bets at one of the affiliated sites. This means that free bets obviously exist and are used by affiliates on external sites, instead of being directly advertised on Redbet.
Customer Service Knowledge
Will the agents provide the correct information about payment limits when compared to the terms and conditions on the website?
The withdrawal and deposit information provided over live chat was partially incorrect. According to an agent, there is no predefined minimum withdrawal amount, however, there is a minimum of £20 stated over on their site in the terms and conditions.
Willingness to Help Out
Will the support representatives help me navigate around their website?
When asking about navigating the site, the chat representatives advised us to use the search box or to look at the site ourselves for the requested information. This is apparently becoming a new norm in casino/staker relationships. Should you require further information then there is a search box and the helpdesk available and it is the same source of information as the one being used by Redbet’s customer service.
Does the support team have a high tolerance level for repeated bonus requests?
The live chat agents remained polite when we repeatedly requested bonuses. The email support stopped answering our bonus requests after several attempts.
Onsite Support Efficiency
How efficient is their onsite Helpdesk compared to the competition?
The Redbet helpdesk covers most of the information needed, though it is put across in a basic manner. For example, the Source of Funds page confirms that to establish the source of funds you would need to prove the obvious documents, such as your occupancy and salary without any further specifics.
The customer service team behind Redbet is the same one that serves Mr Green and as such, we found that the chat agents often confused the two sites. Once, they thanked us for contacting Mr Green, the other time we were asked to confirm our request being about Redbet or Mr Green. The average response time is around 1-2 minutes which is acceptable, but anyone being able to reply to technical or sports betting queries was always out of the question, as those types of things are outside their range of expertise. To avoid the waiting times, they decided to move the chat icon off the homepage and now you need to locate it where it is hidden in the FAQ section. From our tests, the agents do require serious training in every aspect as they are only currently working around the Helpdesk, as a result they are not providing much help to their staker members at all.
If you do come into to any problems at the Redbet site, then we hope that this short FAQ section can help you out.
Are you able to complain at Redbet?
Your complaint should contain all the personal and contact data stated on your account and all the relevant details to the issue as well. You should then receive an acknowledgement within 24 hours. A resolution will be provided within eight weeks for UK stakers or within 10 weeks for all other staker residents.
Where to complain if they refuse the withdrawal?
Stakers can raise a dispute with the Redbet ADR, eCOGRA, or choose to directly submit a complaint with their regulator MGA. You also have the right to forward the matter to the courts, if you so wish.
How do stakers rate the Redbet customer service?
Stakers often complain about both chat and email support not being able to handle general issues related to their accounts. Some stakers also rate their support negatively for not getting a response after their request gets forwarded to a supervisor.
Up or down
The Redbet shelter looks to be stable enough despite its derelict nature and it is open the majority of the day and night with its casino-inspired banners. The lights will usually stay on until the morning with its 99.87% uptime rate, but that doesn’t always mean the experience is hassle-free. Our Google Page Speed tests show a 64/100 score for their desktop platform and this drops down to 17/100 for the mobile version. As we have seen before, Kambi do need to look into optimising their platform with some finetuning required amongst the JS files, data logs, and the opening time of three seconds is not exactly up to Google standards either.
To serve the frontend, Redbet uses the modern React with server side rendering using NodeJS to boost the loading speed and this is considered as the correct approach by the expert team at Stakers HQ. Speaking of the sportsbook backend then we know that Redbet uses Kambi. The Kambi backend is based on Java and is created using Spring Framework. Being a truly enterprise solution, it is a tough fight to keep all its skins afloat and this requires a substantial workforce to implement changes whenever those are required, especially for a startup business. Looking at the JS files, they currently stand at 2MB which is split up in chunks and loaded progressively during each page opening. There was apparently a much bigger effort from the Kambi team here than compared with the Mybet project which infamously contained the list of files from a local developer.
Redbet uses the NYX platform with general requests going through Amazon AWS, which makes the physical location unavailable. However, we can see that the sportsbook is not protected and is directly connected to the Stockholm Kambi data center. We found no protection from external threats or direct data attacks, meaning that attackers would go for the Kambi HQ rather than the Kambi landing pages. We can agree that there is a high number of Kambi servers at play here, however, it’s the Java problem that comes up as the major issue and this is even something that occurs during normal traffic loads, and it needs to be resolved.
Redbet are using an SSL certificate from HydrantID which is costing them $120. As it turns out, one of these can secure up to 10 different domains and so this only comes to a cost of $12 per domain which is very cost effective for multi-domain businesses. All the right security features are in place with a 256-bit encryption and 2056-bit root key, which are both the go-to options for modern day bookmakers here at Stakersland.
Compared with other Kambi skins, Redbet employs a better approach to their own frontend by using a combination of React and Node.JS for server side rending. Overall, it is clear that Kambi are using a modern stack technology setup with leading brands being integrated alongside them, such as Sportradar for the pre-live and in-play betting. The developers bought into the Kambi team at Manila require at least five years’ experience but even then, we can see glaringly obvious mistakes being made. One shocking finding was when we found source maps containing a local list of files from a developer’s computer on one of Kambi’s skin sites. A simple lack of care is the reason for such a mistake, and we hope those have now been stamped out across the whole Kambi team.
countries where redbet is licensed
What documents do Redbet require for account verification?
Redbet may ask their stakers to provide a clear copy of any of the following: passport, national ID, driver’s license, utility bills, bank statements which are no older than three months (six months for all other staker nations). We did find details within the terms and conditions in relation to the Source of Funds checks, but these details were vague and stated the obvious with little information on the exact process.
How long does it take them to settle the bets and payout?
According to the untrained customer support team of Redbet - 'As per standard procedure it takes up to 72 hours depending on the market to settle bets, but usually this happens much faster, within a few minutes after the results are in.' However, given the fact that Redbet is powered by Kambi and that it is geared by the data coming through from Sportradar, bets are settled soon after the results are made clear (both from the internet and official results). Winnings are usually paid out instantly, but bets placed on events lower down the rankings might take a little more time to be settled. A total of 24 hours is given to fully collect the results and settle bets, although it is often completed within 30 minutes. One thing to point out is that there is a number of complaints on how long the verification procedures are, which often leads to the suspension of staker funds until those checks are fully completed.
How to request a withdrawal and how long it may take?
Stakers are expected to withdraw funds back to the original source of the deposit, if possible. In any case where this is not possible then bank transfers will be allowed. All stakers must have their accounts verified before any withdrawal can be approved at Redbet and as mentioned, these checks can take a while, so it is better to get this check started sooner rather than later. Bear in mind that the currency exchange fee of 1.5% is applied to transactions where the currency is anything other than EUR - but no other fees are applied elsewhere.
Are multiple accounts allowed?
Opening multiple accounts at Redbet is considered improper service use according to the terms and conditions at Redbet. In any case where they find stakers opening and using multiple accounts, all winnings from all accounts can be voided and the balances withheld indefinitely.
Is it safe to open an account with Redbet?
Redbet is a regulated operator who does not violate the terms of their licences. Both of their licences are issued by reputable gaming authorities, the UK and Malta. Redbet is also very active in addressing staker issues in and outside their internal complaint procedures, maintaining a good level of communication across most forms of contact channels. Their verification procedures, however, could be clearer as there are quite a few stakers who remain dissatisfied with how long and complicated their KYC/SoF checks are. Due to the bookmaker holding limits above their current revenue takings, we do feel that they will not hold enough funds to payout those top limits. However, the shining light is that they are owned by William Hill, one of the top betting operators here at Stakersland. We believe that they would cover any issues and payment failures and keep Redbet afloat.
VPN Usage – legal or not?
Using a VPN or proxy to hide or alter the identity of the betting device that you are using to access Redbet is against the rules. In fact, it falls under the improper use of your account which is stated in their terms and conditions and can ultimately end up in your account being officially closed. For those who are interested though, the Redbet website is technically accessible under VPN connection.