Classicbet.com.au - information requested

Ewan101 · 05-11-15, 02:12 PM

Please note that subsequent to starting this Classicbet thread, I have found the following disturbing information:

http://www.austrac.gov.au/sites/default/files/classicbet-remedial-direction-signed.pdf

AND

Best Online Pokies in Australia for Real Money → 2025

http://www.australiangambling.com.au/gambling-news/classicbet-cops-a-fine-for-breaching-bookmaker-laws/48775/

Discover the best pokies to play online in Australia. Play for real money, learn with our guides and reviews and win real money now!

(This article states that Classicbet were fined for "....failing to enrol with the Australian Transaction Reports and Analysis Centre by the regulatory body’s deadline.")

Note that these links do NOT show that Classicbet is not safe with your money. It could be argued that these links do show that Classicbet may not always follow required regulations.

Hareeba! · 05-11-15, 03:24 PM

So even more "form" for Ryan Kay!
He cheated me and others and will probably cheat you too. Stay clear.
I've posted more on this mob in the thread about BetEzy.

410 Gone

http://www.austlii.edu.au/cgi-bin/sinodisp/au/cases/cth/FCA/2013/908.html?stem=0&synonyms=0&query=Betezy

" Mr Kay’s evidence as to this situation under cross-examination was, both in its content and in the manner of its giving, unconvincing"

Hareeba! · 06-19-15, 03:37 PM

Interesting development!

Yesterday I got a call from them asking what it would take for me to cease posting about my negative experiences.

I had to cut the call short but he did say he'd get back to me. Sounds like they might be prepared to honour the free bets promise they reneged on.

Optional · 06-19-15, 11:05 PM

Originally posted by Hareeba!

Interesting development!

Yesterday I got a call from them asking what it would take for me to cease posting about my negative experiences.

I had to cut the call short but he did say he'd get back to me. Sounds like they might be prepared to honour the free bets promise they reneged on.

Don't sell out Hareeba!

maloneyy · 06-20-15, 12:25 AM

My 2 cents

Ive never had an issue with classicbet. Im up around 11k with them and ive have a few bets on sport with them that were over 1k that were accepted and paid out no problem. Never had a bet rejected and all withdrawals have been processed without issues. Ive been banned from other corporate's but classic seem like a good one to bet with for the situation I'm in.

We all have to take things on face value in life and no matter the company or service they are offering there will always be a bad experience. I have been treated well at classic and everyone i have referred through the bonus scheme (which i got) and otherwise have also been happy with the service they have received to my knowledge.

Your money is safe with them and considering there closing %'s you are only costing yourself money by not joining them as sometimes they offer some good odds which are alot more juicy than the corps.

In regards, to closing accounts. I have only heard of classic for closing accounts because of people taking and abusing incorrect odds which is an argument within itself. Classic honour it from what i have heard and accept the liability of putting markets up incorrectly but then mark your account... where as corps tend to void the bet and mark your account lol

maloneyy · 06-20-15, 12:26 AM

Edit: Double Post

Hareeba! · 06-20-15, 12:31 AM

Originally posted by maloneyy

In regards, to closing accounts. I have only heard of classic for closing accounts because of people taking and abusing incorrect odds which is an argument within itself.

Well have you not read my story of what happened to me?
I did absolutely nothing to justify them closing my account. Nothing. Absolutely and utterly nothing!
The story I posted is 100% truthful and accurate.

maloneyy · 06-20-15, 11:09 AM

I'm not saying that your story is inaccurate but it seems to me as an isolated incident. I know plenty of people who punt quite seriously with accounts there. And nothing classic could ever do would be worse than any corporate on the market.

Hareeba! · 06-20-15, 02:27 PM

Originally posted by maloneyy

I'm not saying that your story is inaccurate but it seems to me as an isolated incident. I know plenty of people who punt quite seriously with accounts there. And nothing classic could ever do would be worse than any corporate on the market.

Well I know the "corporates" might limit you to buggery or close your account but I've never been outright cheated by any of them the way Classic cheated me.

1. There was no rule that free bets couldn't be used on sports events .... until after I complained to the authority and then they changed the rule and the authority fell for it, quoting it back in the altered form. I have the screenshots to prove it.

2. I was promised $1000 in free bets as a condition of my initial deposit. I was able to utilise just $200 of that sum before my account was closed without explanation or justification.

True, that was in the early days and is now all history.

Just maybe they have mended their ways and it's good hear there are satisfied customers like you. But following my experience it's going to take a good deal of convincing before I come out saying anything nice about them.

Border Gadgie · 06-20-15, 07:07 PM

I never received any of the $500 deposit bonus promised when I signed up here, not sure how they got my details, but received the email offer through an agent or third party.

Site was absolutely useless for betting out of Aussie office time, (I am in the U.K.) so racing bets and others would be pending for hours and have no idea if they were accepted or not, after emailing them compiaining about delayed bets being declined if they won, but being accepted if they lost, there seemed to be improvement but not exactly trustworthy behaviour.

I requested payment by EFT to my bank, as deposit and withdrawal options were limited, and aimed mainly at Aussie punters, after a bit of chasing as I had already supplied all I.D, they did payout eventually.

Not really much to recommend this place to be fair, and promised incentives/bonuses appear to be a bait and switch tactic.

Optional · 06-20-15, 11:09 PM

Originally posted by Border Gadgie

I never received any of the $500 deposit bonus promised when I signed up here, not sure how they got my details, but received the email offer through an agent or third party.

Site was absolutely useless for betting out of Aussie office time, (I am in the U.K.) so racing bets and others would be pending for hours and have no idea if they were accepted or not, after emailing them compiaining about delayed bets being declined if they won, but being accepted if they lost, there seemed to be improvement but not exactly trustworthy behaviour.

I requested payment by EFT to my bank, as deposit and withdrawal options were limited, and aimed mainly at Aussie punters, after a bit of chasing as I had already supplied all I.D, they did payout eventually.

Not really much to recommend this place to be fair, and promised incentives/bonuses appear to be a bait and switch tactic.

Did they give a reason for not honouring the bonus?

Border Gadgie · 06-21-15, 03:24 PM

Originally posted by Optional

Did they give a reason for not honouring the bonus?

No reason given & no replies to enquries.

Optional · 06-23-15, 04:40 PM

Originally posted by rez

Update: My classicbet account is now closed. It appears that they were not happy with my previous post in this thread.

Seriously? They told you that?

That you were banned for posting this on SBR?

Originally posted by rez

1. I had no issues making a withdrawal after being verified.

2. I had no issues with claiming the signup bonus, although I referred two friends to ClassicBet after being promised a $200 bonus bet per referral by my account manager. I never got these bonus bets, even after following up a several times.

3. Have not been limited here, so no experiences with this.

It looks like Classicbet uses the same whitelabel odds provider as TopSport, Palmerbet and PuntingPal, so you do have other options.

Optional · 06-23-15, 05:03 PM

Originally posted by rez

I've had no correspondence with them since I made that post. However, I was able to sign in at time of posting, and hadn't used the book since the Mayweather v Pacquaio fight. When I tried to sign in today, I got the message "This account has been closed. Please telephone our office for further assistance."

If you get any more info to suggest that please let us know.

Or if anyone else posting here about Classicbet has the same experience please let us know too.

Hareeba! · 07-08-15, 04:34 PM

Significant Update

Don't underestimate the power of making a fuss when you've been wronged!

Last year I had a bad experience soon after joining ClassicBet.

I posted a rant which was taken up by FairWageringAustralia.com and posted on their website.

As a result, anybody doing a net search for ClassicBet quickly finds my rant.

Unsurprisingly, ClassicBet aren't too pleased about it as it is clearly costing them new business.

So they contacted me to see if they could right their wrongs in the hope that I'd get the post taken down.

I demanded the reopening of my account; the reinstatement of my unused free bets; the ability to use them on sports events as originally promised; access to fixed racing odds, BOB and best tote products, and no unreasonable betting limits.

They agreed to all and this time allocated me an account manager.

After a couple of weeks I can report that my experience this time has been positive, for example:

I placed a $200 free bet on Rory to win the British Open. When I alerted my account manager to the fact that it seemed Rory wouldn't be playing he agreed to issue me $200 in replacement free bets.

The only minor negative I've found is that my footy bets are being limited to win $1000. I guess I shouldn't complain too loudly about that because the big Pommy corporates won't let me win more than $100 max!

Positives are the better than I can get elsewhere racing options such as BOB and Best Tote products. And they've been pretty good with the amounts they've let me bet on racing.

I'm comfortably ahead on my bets so far. Should that remain the case after the weekend I'll most likely be requesting a withdrawal on Monday and will post next week on how that goes.

So, would I recommend them?

I appreciate that they may well be just making sure I'm happy so that that rant at FairWagering gets taken down and thus are looking after me better than they would a normal customer.

But particularly for someone who has been limited by the majors I'd say yes give them a go.

And I really have no concerns about getting paid. This is Australia, not Costa Rica!

jjgold · 07-09-15, 08:44 AM

typical smaller Aussie book that really does not belong in business

Its all about the big boys now except a few respected smaller outfits

Hareeba! · 07-09-15, 04:46 PM

Originally posted by jjgold

typical smaller Aussie book that really does not belong in business

Its all about the big boys now except a few respected smaller outfits

Another inane contribution!

Were it not for the smaller books, many Aussie punters would have nowhere to bet!

jjgold · 07-10-15, 08:47 AM

Originally posted by Hareeba!

Another inane contribution!

Were it not for the smaller books, many Aussie punters would have nowhere to bet!

These small books do not do a lot of volume...all you need to to is track ticket #s

Hareeba! · 07-10-15, 02:30 PM

Originally posted by jjgold

...all you need to to is track ticket #s

wtf does that mean?

jjgold · 07-12-15, 10:57 AM

It means the smaller Australian books are not taking a lot of volume whether it is racing or sports

Hareeba! · 07-12-15, 03:13 PM

Originally posted by jjgold

It means the smaller Australian books are not taking a lot of volume whether it is racing or sports

Hardly an issue and really irrelevant to my point that for many of us they are the only place in Australia we can get any sort of reasonable bet on sports in particular.

Hareeba! · 07-13-15, 02:22 PM

I can now confirm that I did make a withdrawal request yesterday and first thing this morning I found that the funds were in my bank account.

Optional · 08-26-15, 08:36 AM

Originally posted by rez

I enquired with Classicbet the other day. It turns out there was an issue with my verification, and my account was closed after 90 days of not being verified, so I'd like to take back my suspicions of them banning me due to my posting here.

My point regarding them not crediting my RAF freebets still stands, however.

Thanks for letting us know.

vitas27 · 08-31-15, 11:08 PM

I know of people that had winning bets cancelled after the race. They had conversations with people at their Penrith office about it, only for those phone calls to be deleted when OLGR and Harness Racing NSW came knocking.

I know someone that had a winning bet deleted. Not cancelled, deleted, to try and remove any trace of it. Thankfully takes print screens of all accepted bets and produced one for this

I know of people that wanted to make withdrawals but don’t get processed for over a week. First excuse, “you haven’t sent in your 100 points of ID” (despite the fact they had made a previous withdrawal), next excuse was that only process withdrawals on certain days. Next was they only process once a week. They eventually got paid, but they use stalling tactics in the hope you will continue betting and lose your balance.

I know of someone that was refused bonuses because they said there were multiple accounts from his address. He has lived alone for over a decade.

I heard someone got a parlay up there, the last 4 races in Melbourne or something one Saturday. They refused to pay him because they accused him of fixing races. That apparently got sorted by the regulators and he got paid.

vitas27 · 08-31-15, 11:08 PM

Originally posted by jjgold

It means the smaller Australian books are not taking a lot of volume whether it is racing or sports

Who cares what their volume is. A small book like this can easily turnover $1 million a week. Win 10%, which isn’t too hard, and that’s $5 million profit a year. Less expenses and license fees and the owners are taking home 7 figures a year.

Optional · 08-31-15, 11:27 PM

Originally posted by vitas27

Who cares what their volume is. A small book like this can easily turnover $1 million a week. Win 10%, which isn’t too hard, and that’s $5 million profit a year. Less expenses and license fees and the owners are taking home 7 figures a year.

I think many punters think operating a book is a license to print money. I doubt any significant book makes anywhere near 10% of its turnover. And plenty of smaller ones probably struggle to make any real profit at all in heavily regulated markets like Australia.

vitas27 · 08-31-15, 11:50 PM

Originally posted by Optional

I think many punters think operating a book is a license to print money. I doubt any significant book makes anywhere near 10% of its turnover. And plenty of smaller ones probably struggle to make any real profit at all in heavily regulated markets like Australia.

As a bookmaker who has worked in the large and smalls in Australia let me say 10% is easily achievable. At one place I had KPI’s of 15% to meet that was done. At a place like Classicbet, 60-70% of their turnover would be racing. So straight away a majority of their turnover is into a 115% market (anyone with a semblance of a clue will be banned from tote products). About 40% of their sports bets will be multi’s, so multiplying percentage on percentage. The remainder will be singles on sports, so into a 105% market. Over the course of a year 10% is met. Anything less would be a disappointment.

Have a look at the annual reports of the listed books – TAB and Tatts. Their yields are in the teens, sometimes high teens. Admittedly they get a lot of soft money, but this isn’t Vegas and their round book world.

Optional · 09-01-15, 04:23 AM

Originally posted by vitas27

As a bookmaker who has worked in the large and smalls in Australia let me say 10% is easily achievable. At one place I had KPI’s of 15% to meet that was done. At a place like Classicbet, 60-70% of their turnover would be racing. So straight away a majority of their turnover is into a 115% market (anyone with a semblance of a clue will be banned from tote products). About 40% of their sports bets will be multi’s, so multiplying percentage on percentage. The remainder will be singles on sports, so into a 105% market. Over the course of a year 10% is met. Anything less would be a disappointment.

Have a look at the annual reports of the listed books – TAB and Tatts. Their yields are in the teens, sometimes high teens. Admittedly they get a lot of soft money, but this isn’t Vegas and their round book world.

Sounds like you know more than me. But I think you might be talking about gross margin whilst I meant net profit.

$imple$imon · 02-23-16, 11:23 PM

Originally posted by vitas27

As a Bookmaker who has worked in the large and smalls in Australia let me say 10% is easily achievable. At one place I had KPI’s of 15% to meet that was done. At a place like Classicbet, 60-70% of their turnover would be racing. So straight away a majority of their turnover is into a 115% market (anyone with a semblance of a clue will be banned from tote products). About 40% of their sports bets will be multi’s, so multiplying percentage on percentage. The remainder will be singles on sports, so into a 105% market. Over the course of a year 10% is met. Anything less would be a disappointment.

Have a look at the annual reports of the listed books – TAB and Tatts. Their yields are in the teens, sometimes high teens. Admittedly they get a lot of soft money, but this isn’t Vegas and their round book world.

Again Im surprised at the information on this site.....

Firstly; a best of 4 product that is available on most books much more like 107.... As for a 115 market at close... what if the bookie has been smashed on something early market lets say 5's into 3's and on the death they have to put a few roles on the middle pinners to fill up the ledger they could be holding at as little as 105.....

Anyway, lets assume they have a 10% result. Now they need to take 2% out for race fields, then the regulator would want .5 of a %, then they spend an average of 3% on operating costs, then we all want a free bet, dont forget a marketing budget or the affiliate that needs to be paid.

I think the grass always looks a little greener!

This line is the killer, looks like tis guy knows it all, not

"(anyone with a semblance of a clue will be banned from tote products)"

Ewan101 · 03-01-17, 06:55 AM

Hi All, my thanks to:

Hareeba
rez
Optional
maloneyy
Border Gadgie
jjgold
vitas27
$simple$imon

The information provided in this old thread is valuable and greatly appreciated.

HOWEVER - this information is now around 18 months old.

There is new information around that once again is of concern.

See the warning given here: http://www.bookiepromotions.com/promo-codes/classicbet-promotion-code/

See a new regulatory breach here: http://www.justice.nsw.gov.au/Pages/...vertising.aspx

So, here we are into 2017.

Does anyone have any recent experience with ClassicBet, good or bad?

All replies gratefully received.

Hareeba! · 03-01-17, 03:01 PM

Originally posted by Ewan101

Hi All, my thanks to:

Hareeba
rez
Optional
maloneyy
Border Gadgie
jjgold
vitas27
$simple$imon

The information provided in this old thread is valuable and greatly appreciated.

HOWEVER - this information is now around 18 months old.

There is new information around that once again is of concern.

See the warning given here: http://www.bookiepromotions.com/promo-codes/classicbet-promotion-code/

See a new regulatory breach here: http://www.justice.nsw.gov.au/Pages/...vertising.aspx

So, here we are into 2017.

Does anyone have any recent experience with ClassicBet, good or bad?

All replies gratefully received.

That breach and conviction wouldn't put me off playing there.
So much regulation around (and it varies from State to State) that smaller operators can easily fall foul of.

But getting back to any changes since I last posted about Classic:
I have hardly used them at all since early December after having been barred from their "Best of the best" and "Top Fluctuation".
The only time I now use them for racing is when no other bookies I can use offer "Best of 3 totes and Starting Price" which is still available to me at Classic.
I'll soon find out whether last season's limit to win $1,000 on footy is still available.

Other than those limitations, I've found them ok to deal with. And they do honour the bonus bets offer despite the restrictions on advertising it.

Ewan101 · 03-01-17, 05:09 PM

Great, thanks Hareeba!

Ewan101 · 03-03-17, 06:44 AM

Thanks rez!

Optional · 03-03-17, 07:00 AM

These guys must be on a sales drive.

Had a couple of calls, texts and an email offering the world in the last few days.