Sportsbet welcomes the addition of a new betting product on its platform called Bet With Mates. If you go to their website or mobile app you’ll see it listed in their main menu.
Many other betting companies also offer social betting options with the same functions as Sportsbet such as Ladbrokes and Neds, of the list we highly recommend Betr as the best betting site with these functionalities.
The concept is pretty straightforward if you’ve ever been involved in a betting syndicate before. Bet With Mates is a product that allows Sportsbet customers to create a Group, pool their funds together, and bet on behalf of the Group. The group decides what the Buy-In level will be, and forms rules about how and when to bet.
An example might be that a group member gets to bet on a weekly rotational basis, or the rule could be something completely different. There are a few things to be aware of. More of a Terms and Conditions thing so that people have a proper understanding of what’s involved. Let’s take a look.
The Bet With Mates Social Contract
It is the responsibility of the Group and its Members to decide, set and administer any particular Group betting protocols they see fit, including any betting limits imposed on Members. This is called the Social Contract. Accordingly, all Group Members acknowledge and agree that it is their responsibility to form and adhere to the Social Contract in relation to the Group.
To Create a Group
Go to the Bet With Mates option in the Main Menu (as displayed above). To create a Group, Sportsbet customers will need to set the Buy-In and transfer the applicable amount of funds into the Group from their personal Sportsbet account. The customer who creates the Group will be the Admin.
A Group must have at least two Members (including the Admin) who have transferred the Buy-In amount into the Group. An Admin Activates the group when they are happy that all invited individuals have joined and transferred the Buy-In amount, after which they will become Members. All Members own an equal share in the funds held by the Group.
Sportsbet states that there can be no more than 100 members in the Group at any one time.
To Activate the Group, an Admin must click on the ”start betting” button and the subsequent confirmation. Once Activated, no individual can be added as a Member. Sportsbet advises that no Duplicate Groups are allowed. An Admin will not be able to Activate the Group if a Duplicate Group is detected.
Role of the Admin
Each Group must contain at least one Admin. If a group has only one Admin and that Admin decides to leave the Group, the Member who joined the Group second will automatically be appointed the Admin.
Once activated, an Admin cannot remove a Member. If the Group has not been Activated, an Admin can close the Group and any funds transferred into the Group by a Member will be returned to their personal Sportsbet account, with the returned funds maintaining the status applicable to them upon being transferred into the Group.
An Admin can request a Top-Up, at which time the Admin and other Members are required to transfer the requested amount of funds into the Group from their personal Sportsbet account.
Members who decide not to Top Up will be automatically removed from the Group, and their share of the funds within the Group will be returned to their personal Sportsbet account, with any portion of returned funds not turned over within the Group maintaining the status applicable to them upon being transferred into the Group.
Once an Admin is happy that all Members who wish to Top Up have done so, the Admin can elect to Resume Group Betting.
Invitations and Joining
An invitation to join a Group can be sent to any individual, but their ability to join is not guaranteed and will depend upon individual circumstances and Sportsbet account settings (if a customer). While Sportsbet provides the platform to facilitate group betting, an individual does not have to accept an invitation to join a Group and/or sign up to Sportsbet.
The Role of Members
- Each Member is entitled to an equal share of the number of funds within the Group including any winnings generated from pending bets.
- Members are not obliged to bet, Top Up or do any other act in connection with their participation in the Group, though not topping up may result in removal from the group (see above).
- If a Member has a short break applied to their personal Sportsbet account, the Member will remain in the Group but will not be able to participate until the period of their short break has ended.
- Funds added to a Group by a Member will count towards any deposit limits on their personal Sportsbet account.
Leaving the Group
Members can leave the Group at any time for any reason. If they do so, they acknowledge and accept that they will no longer be able to:
- participate in the Group or view any of their previous activity within the Group including bet and transaction history.
- view any future transactions or bets the group decides to make.
- if a Member leaves the Group, they are entitled to an equal share of the amount of funds within the Group prior to exiting the Group including any winnings generated from pending bets with the funds returned to their Sportsbet account, with any portion of the returned funds not turned over within the Group maintaining the status applicable to them upon being transferred into the Group.
- upon a long break or permanent exclusion being applied to a Member’s personal Sportsbet account, they will automatically leave the Group and are entitled to an equal share of the amount of funds within the Group prior to leaving, including any winnings generated from pending bets.
- It is the responsibility of the Group to determine the operation of the Group with respect to betting turns, stake value, bet selection, Buy-Ins, Top Ups, Cash Out, promotions and generosity use and invitations to join.
- There are no set turns for bet placement within the Group meaning a Member can place a bet at any time and of any value provided that there are Group funds available (subject to any applicable Member and market limits) and each Member owns an equal share in all bets placed on behalf of the Group.
- It is a Member’s responsibility to ensure they are correctly placing their bet selection with their Group or personal Sportsbet account. Sportsbet’s normal bet cancellation policy applies to Groups.
- All bets placed by a Member will stand. A Member may not request to cancel a bet made by another Member.
- Live Betting and Betting-In-Run (Racing) is unavailable for Groups.
- If Cash Out is available, it may be performed by any Member regardless of whether or not they placed the relevant bet. Sportsbet is not responsible for any Member’s decision to Cash Out. The Member responsible for deciding to Cash Out will not be viewable within the Group.
Any dispute which may arise in relation to a bet placed by a Group will be handled in accordance with Rule 1.14 of Sportsbet’s General Rules, Terms and Conditions (‘Dispute Resolution’). The dispute may be lodged by any member of a Group in relation to a Group bet.
- An individual cannot participate in more than ten Groups at a time.
- An individual cannot create and/or join more than three Groups per day.
- A Group cannot consist of more than one hundred (100) Members (including the Admin).
Reservation of Rights
There are a few conditions that Sportsbet lays down in its T&C’s, take a moment to have a good read:
- Sportsbet reserves the right to remove Members and/or an Admin from a Group at any time for any reason without notice or explanation.
- Sportsbet reserves the right to close any Group at any time for any reason without notice or explanation.
- Sportsbet reserves the right to determine that a Group is ineligible to receive promotions or generosity.
- Sportsbet reserves the right to prohibit an individual from joining or participating in a Group any time for any reason without notice or explanation.
Sportsbet reserves the right to refuse any bet (or part of a bet) of a Group at any time for any reason without notice or explanation. The reasons Sportsbet may refuse a bet (or part of a bet) of a Group include:
- a Member is or may be less than 18 years of age;
- a Member is or may be betting on behalf of a person who is less than 18 years of age;
- a Member is or may be in breach of the Rules or these Terms and Conditions;
- a Member is or may be in breach of any applicable law; or
- a Member’s proposed bet would (in Sportsbet’s absolute discretion) present an unacceptable liability risk to Sportsbet’s business.
- Sportsbet reserves the right to share a Group name and activity for marketing purposes.
- An individual’s ability to join a Group is not guaranteed and will depend upon their circumstances and Sportsbet account settings (if a customer).
- Sportsbet cannot provide information about other Member’s personal Sportsbet accounts.
- Sportsbet cannot provide information about any activity of a Group after a Member has left the Group.
- An admin (not Sportsbet) is responsible for sending an invitation to join a Group to any individual and accordingly must, before sending the invitation, take care to ensure that the individual has consented to receive this type of communication from them.
To all of you willing to give it a try, good luck and most of all – have fun.