Frequent Asked Questions
- Who Is Let's Bet?
Let's Bet is an online wagering business owned and operated by Let's Bet Pty Ltd (A.C.N. 661 312 849) and is based in metropolitan Melbourne.
- How Do I Open a Let's Bet Customer Account?
Simply click on the 'Join' button in the header atop our desktop or mobile website and complete the registration form.
The registration process only takes about 2 minutes to complete. If you have any issues, plaese email us at [email protected]
- Why Do I Have to Verify My Identity and How Do I Do It?
Under Australian law including the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) and the Australian Rules of Racing, you are required to verify your identify in order to use your Let's Bet Customer Account.
Let's Bet requires that all Customers successfully verify their identity immediately.
When signing up, you will be automatically prompted to verify your account via GreenID.
If unsuccessful, you will have to verify your identity. You will be required to supply two forms of identification which match your registration deatils.
- A current Australian Driver's Licence; or a current Australian Passport; or
a statutory photo ID.
- Plus a utility bill (no more than three (3) months old) or a bank statement header, on which the name and address used for registration of the Customer Account is prominently displayed
Let's Bet may engage a third-party to provide identity verification services in order to more efficiently and comprehensively verify the identity of Let's Bet Customers. Your personal information may be supplied to such a third-party so the identity verification process can be completed. The process of verifying your identity may involve checking your personal information against third-party and government databases and/or credit headers.
- A current Australian Driver's Licence; or a current Australian Passport; or
- How Can I Deposit Funds into My Let's Bet Account?
All of our deposit methods are set out in the Banking section of 'My Account' on the Let's Bet Website.
You can deposit funds into your Let's Bet Customer Account in the following ways:
Debit Cards: Is an instant method of depositing funds into your betting account.
- POLi Payments: Is an instant method of depositing funds, but is limited by some financial institutions.
- Electronic Funds Transfer (EFT/OSKO): When making an EFT/OSKO, please use your Let's Bet User ID as the reference number in the Transaction Description so that we can easily identify which Customer Account needs to be credited with the funds.
- Please note that EFT or PayID transfers may not be an instantaneous deposit until a banking relationship is established (it can take upto 24 hours for funds to be cleared before you can place a bet on our site)
- Bank Deposit: You can deposit into your Let's Bet Customer Account at any branch of the Bendigo Bank. You will need to provide the Bendigo Bank with the Let's Bet Account details.
After you have made a deposit via PayID, OSKO or an EFT bank transfer, you need to go to the 'EFT Notification' section of the Banking menu on the Let's Bet Website and let us know the details of the transaction so that we can credit your Let's Bet Customer Account.
- How Do I Retrieve a Forgotten Password or User ID?
If you have forgotten your User ID or your password, click on the 'Help' button in the Log-In section of the Let's Bet Website and complete the form to recover your credentials. If you correctly complete the form, you will receive an email shortly thereafter which will instruct you on how to log-in.
- What If I Didn't Receive My Welcome Email?
We send all new Let's Bet Customers a welcome email which includes important information regarding their Let's Bet Customer Account. If you have not received this email, you may be blocking communications from us. You need to add '[email protected]' to your Safe Sender list or your Contacts.
- How Do I Make a Withdrawal from My Let's Bet Customer Account?
You can submit a withdrawal request via the 'Banking' tab in 'My Account'.
Deposited funds must be turned over at least once before they will be able to be withdrawn.
Withdrawal requests are processed twice daily with cut off times at 11AM and 6PM with processing generally done within a two hour window.
We use commonwealth bank fast payments and in most cases funds are instantly available. In some cases, it may take 2 to 5 Business Days for withdrawn funds to land in your Bank.
For Customers who have deposited via a credit card from an Australian financial institution, withdrawn funds will be returned to the credit card from which the deposit was made up to the total amount of all deposits made from the relevant credit card. If the amount being withdrawn exceeds the total amount of all deposits made from the relevant credit card, the Customer can elect to have the surplus transferred to a bank account rather than their credit card.
- What Happens if One of the Horses I Backed is Scratched?
If you placed your bet on the scratched runner before the declaration of the final field (i.e. the time at which final acceptances are lodged), your bet is lost. If the bet formed part of a multi-leg or parlay bet, the entire multi-leg bet is lost.
If you placed your bet on the scratched runner after the declaration of the final field (i.e. the time at which final acceptances are lodged), your bet will be refunded in full except if the bet formed part of a multi-leg or parlay bet, in which event the multi-leg bet will stand and the dividend will be downwardly adjusted to account for the removal of the bet on the scratched runner.
- What Are the Minimum and Maximum Bet Limits?
The minimum amount that a Customer can stake on any wager is $1.00.
The amount that a Customer is able to stake on any wager will be determined on a case-by-case basis by Let's Bet Management depending on the event on which the wager is placed and the prevailing market conditions.
Let's Bet will attempt to satisfy all bet requests but may, at its sole and absolute discretion, reject or partially accept certain bet requests subject to any 'Minimum Bet Limits' applicable to the relevant event.
Minimum Bet Limits
- A number of Australian wagering control bodies prescribe 'Minimum Bet Limits' for the benefit of punters.
- For events to which a 'Minimum Bet Limit' applies, Let's Bet are obliged to accept wagers in which a Customer's potential profit is below the specified threshold.
- 'Minimum Bet Limits' apply only to Fixed Odds bets. They do not apply to bets on 'Top Fluctuation', 'Best of the Best', 'Tote' or 'Tote-Derivative' products, racing exotics, or multi-leg bets.
- Click here to view detail of the currently prescribed 'Minimum Bet Limits'
Please Note:
Minimum Bet Limits apply only to Fixed Odds bets. They do not apply to bets on Top Fluctuation, Best of the Best, tote or tote-derivative products, racing exotics, or multi-leg bets.
Minimum Bet Limits apply to bets placed after 9:00am on the day of the race meeting, unless the meeting is a night meeting in which event the Minimum Bet Limits take effect at 2:00pm on the day of the race meeting.