UPDATE:
IASbet has since merged with Sportsbet. View our comprehensive Sportsbet review.
Introduction
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The following is an in-depth review of the betting agency IASbet. This review covers the history, features, interface, sports & racing markets, upsides and downsides of the service. This review is part of our comprehensive Bookmaker Reviews section. The Betting Agencies page provides information and reviews for other sports betting agencies that are suitable for Australians. The following details are updated periodically to keep them up to date. |
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History, Location and Licence
IASbet is licensed in the Northern Territory, and is a wholly owned subsidiary of the Sportsbet group of companies. Sportsbet itself is now owned by the Irish bookmaker Paddy Power.1, 2
IASbet markets itself as offering low bookmaking margins. The service underwent a complete overhaul in June, 2011. The revamped website features a far more functional interface and an improved range of sports and racing markets. In July, 2011 the Sportsbet service was also overhauled. The two websites now utilise the same website interface, but with different templates. They also appear to offer the same odds, although the sign up bonuses and betting promotions differ between the two services.
Services and Features
| Deposit options | Bank Transfer, BPay, Credit/Debit Card, Skrill (Moneybookers), PayPal, POLi 4 |
|---|---|
| Withdrawal options | Bank transfer, Skrill (Moneybookers), Paypal |
| Transaction fees | IASbet will charge a A$15.00 international telegraphic transfer fee for all international transfers. No fees apply to Australian users. |
| Currencies | AUD, NZD, USD, EUR, GBP, HKD, SGD |
| Languages | English |
| Odds formats | Decimal |
| Minimum deposit | $5.00 |
| Minimum bet | $0.01 online, $50.00 by phone, $20 for live betting or in running sporting events |
| Maximum payout | IASbet boasts that their Internet limits are amongst the largest available online. Larger amounts are available via the telephone. IASbet sets a daily maximum win of AUD$500,000, unless otherwise negotiated. For sports and racing wagers the maximum betting limits depend on the event and bet type. Learn more. |
| Deposit turnover requirements | 1x |
| Bonus credit turnover requirements | 1x |
| Bookmaker margin | 4.6% (see below for more details) |
| Credit facilities | Members are eligible to apply for one of five credit limits: $200, $500, $1,000, $3,000, $5,000. Learn more. IASbet may offer you a $200 credit facility which can be accepted or refused with one mouse click. |
| Forbidden Jurisdictions | IASbet does not accept wagers from customers who reside in Argentina, Armenia, Azerbaijan, Belarus, Bosnia, Bulgaria, Canada, China, Congo Republic, Costa Rica, Croatia, Denmark, Estonia, France, Georgia, Hong Kong, Hungary, India, Indonesia, Iran, Israel, Jamaica, Japan, Kazakhstan, Korea, Kyrgyzstan, Latvia, Lithuania, Macedonia, Malaysia, Moldova, Montenegro, Nigeria, Pakistan, Poland, Portugal, Romania, Russia, Serbia, Seychelles, Slovakia, Slovenia, Sri Lanka, Swaziland, Switzerland, Taiwan, Tajikistan, Thailand, Turkey, Turkmenistan, Ukraine, Vietnam, United States of America, United States Minor Outlying Islands, Uzbekistan, Wallis and Futuna, and Zimbabwe. |
| Mobile version of the website? | Yes |
| Identity checks | IASbet will attempt to authenticate your identity automatically. If they are successful you will receive an email to confirm this. If authentication is required on your behalf you can do so easily online if your are an Australian resident, or by sending certified copies if you are not Australian (learn more). If you use a credit card you can make three deposits up to a total value of $2.000. For any further deposits, or to process a withdrawal, they require a photo/scanned copy of the card (view instructions). |
| Dormant account fees | None |
Betting Interface and Website Layout
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The IASbet website underwent a complete overhaul in June 2011. The revamped website features a far more functional interface, and apart from the template used, is virtually identical to that used by Sportsbet. The website consists of the three-column layout that is common to many bookmakers. The left column displays available sports and racing options. Popular markets are displayed in the Quick Links box at the top. The sports and racing boxes can be hidden from view to facilitate easier browsing. When you click on a sport the page is refreshed to display the sub markets (such as specific leagues). Given that the interface is so new, it’s a shame that the sub markets aren’t dynamically loaded to save time. The odds display is fairly intuitive. The quantity of additional options is highlighted to the right of each event. Clicking on the link displays the full range of betting options for that event. The betting slip is excellent. As items are added the slip is displayed on top of other content in the right column, but can be hidden from view when you don’t wish to view it. As you move your cursor over the information icon for each selection, the details of the bet, along with the maximum accepted wager, are displayed. One of the interface’s strengths is its multi betting functionality. A multi bet option using all acceptable single bets is automatically provided when there are two or more selections in your betting slip. If you click on ‘Other Betting Options’ you are shown the exotic multi options such as Doubles, Trixie, and Patent. |
Sports display
Odds display
Betting slip
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Bookmaker Margin
In our most recent bookmaker margin survey, IASbet had an average bookmaker margin of 4.6%, which is lower than the survey average of 5.1%. From a punter’s perspective, the lower the margin, the better. Note that IASbet and Sportsbet have identical odds. Both bookmakers often reduce the margin in the build up to an event. For example, NRL and Super Rugby line odds typically open on Monday/Tuesday with 1.90 odds and shift to 1.92 odds on Friday.
Sports Markets
Along with the June 2011 website revamp the sports betting selection has improved substantially. There are now over 40 AFL markets, over 40 NRL markets, and over 100 new soccer markets across over 100 leagues. There doesn’t appear to be any gaps or holes in the breadth of sports and leagues offered. For example, Challenger Circuit tennis betting is available on top of the standard ATP and WTA offerings. A few finance and entertainment markets are available, but the focus is certainly on sport. The selection will certainly meet the needs of most punters.
Horse Racing
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IASbet features a strong racing line-up that covers events in Australia, New Zealand, Asia (at certain times), and the Americas (at certain times). Harness and greyhound racing is also available. Various futures and special bets are offered, such as ‘Will Black Caviar end 2011 undefeated?’ The website also features a searchable racing results section. The race betting interface itself is simple and intuitive. For most events, Win/Place, Quinella, Exacta, and Trifecta bets are available. On most days super exotics such as Quaddie, Double, Treble and Super6 bets are also available. For Tote betting IASbet offers ‘CITY SuperPrice’, where the final payout at the close of betting is guaranteed to pay better than the 3 totes/TABs. |
Racing interface
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Live Sports Betting
Due to Australia’s Interactive Gambling Act 3, live online betting is not available for Australians. Australian customers must phone in to bet live. If live online sports betting is what you’re after, be sure to check out our survey of betting agencies that offer live online betting.
Upsides
- Good selection of deposit and withdrawal options, including Paypal and POLi 4
- Low turnover requirements
- Broad range of new member offers depending on the first deposit amount
- High win limits
- Comprehensive help section with a search feature
- Strong support for multi betting
- Good range of sports markets and betting selections
- Low $0.01 minimum online bet
- Low $5.00 minimum deposit
Downsides
- Live online betting is not available to Australian residents (due to Australian law)
- The sports navigation menu isn’t dynamic. The page is refreshed each time you view sub markets (such as specific leagues).
- Have been known to suspend or limit the accounts of successful punters
Bottom Line
IASbet has really come along in leaps and bounds since we last reviewed it. The betting interface is now modern and feature packed, while the sports betting selection has improved substantially. IASbet is a solid betting service with very few weaknesses. It would certainly suffice as a stand-alone membership, and is well suited to novice punters. Because the website uses the same interface, and from what we can tell, the same odds as Sportsbet, we recommend you check out both websites to see which one takes your fancy. One benefit of IASbet over Sportsbet is it offers more generous sign up bonuses. Time will tell whether the two services remain separate for the long term.
Notes and Sources
- 1 http://www.iasbet.com/content/general-information/about-us/
- 2 http://www.businessspectator.com.au/bs.nsf/Article/Sportsbet-completes-IAS-takeover-pd20090918-VZ6BW?OpenDocument
- 3 http://en.wikipedia.org/wiki/Interactive_Gambling_Act
- 4 POLi facilitates online bank transfers that are acknowledged by the bookmaker instantly. This enables you to log into your banking provider, transfer money to the bookmaker, and place bets immediately.