The following is an in-depth review of the betting agency TopBetta. 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.
TopBetta History, Location and Licence
Launched in 2013, TopBetta is a Newcastle-based bookmaker and betting tournament operator. The service was originally licensed in Norfolk Island by the Norfolk Island Gaming Authority. TopBetta was granted Sports Bookmaker’s Licence by the Northern Territory Racing Commission in August 2016.
In addition to standard sports and race betting products, TopBetta stands apart from regular bookmakers through its provision of betting tournaments, where participants are given fantasy money to wager with the aim of accruing the highest profit. TopBetta markets itself as being the world’s first social betting platform because members compete against each other rather than take on the bookmaker. 3
In April 2017 it was announced that TopBetta had entered into an agreement to acquire the Norfolk Island licensed bookmaker Mad Bookie.4
Services and Features
|New member offers||Use this link to sign up. Deposit $250 and receive $250 in bonus bets. Not available for NSW, VIC, WA or SA residents. Bonus bet expires 7 days after awarded.
Use this link to sign up. Deposit $100 and receive $200 in bonus bets. Not available for NSW, VIC, WA or SA residents. Bonus bet expires 7 days after awarded.
Use this link to sign up. Deposit $50 and receive $150 in bonus bets. Not available for NSW, VIC, WA or SA residents. Bonus bet expires 7 days after awarded.
|Deposit options||Credit card (proccessed by eWAY), bank transfer, BPAY|
|Withdrawal options||Credit card, bank transfer|
|Maximum bet/payout||The following win limits apply per race:
Metropolitan horse racing: Win: $5,000, Place: $2,000, Trifecta & First Four: $10,000, Quinella & Exacta: $2,500
Provincial horse racing and Country horse racing: Win: $2,500, Place: $1,000, Trifecta & First Four: $5,000, Quinella & Exacta: $2,000
International racing, Australian Harness & Australian Greyhounds: Win: $2,000, Place: $1,000, Trifecta & First Four: $2,000, Quinella & Exacta: $1,000
TopBetta has a maximum daily win limit of $20,000.
|Deposit turnover requirements||None that we’re aware of if you don’t receive a first deposit bonus and 2x at odds of 1.50 or more if you do receive a first deposit bonus|
|Bonus credit turnover requirements||2x at odds of 1.50 or more|
|Bookmaker margin||5.2%, which equals the median bookmaker margin in the latest bookmaker margin survey. From a punter’s perspective, the lower the margin, the better.|
|Quantity of markets||Averaged 21 markets per fixture in the latest bookmaker markets survey. This is well below the median score of 61.|
|Forbidden Jurisdictions||The United States and other territories where sports and race betting are illegal|
|Mobile betting||The website uses a responsive design that is automatically tailored to the device that you view the website with.|
|Identity checks||Customers must complete and send in the Customer Identification Form within 90 days of registering. This form must be completed prior to requesting a withdrawal.|
|Dormant account fees||None that we’re aware of|
|Support||Email, phone (1300 number)|
Betting Interface and Website Layout
The TopBetta website has been given a complete overhaul since we first reviewed it. The site is split into three main sections: Tournaments, Racing and Sports. The sports section uses a three-column layout, with a sports navigation menu on the left, markets & odds displayed in the middle and active bets displayed on the right. This is a departure from most bookmakers, which commonly display your betting slip in the right column.
The odds area is fairly intuitive. The upcoming round of fixtures for a given league is presented as a list with “More Markets +” and “Hide Markets -” links available to toggle the display of every market for a given fixture.
TopBetta originally didn’t offer multi betting. Now that this feature has been added the site displays “+ Multi” buttons next to the odds. If you click on the odds the single betting slip is displayed to place a one-selection bet. If you click on the “+ Multi” button next to the odds, the selection is instead added to your multi betting slip. The drawback of this arrangement is you can’t add more than one single selection to your betting slip. You must instead submit and confirm your single bets one at a time.
The single betting slip resembles the one used in the Tournaments section. It is displayed as a pop-up with buttons to quickly select a stake. You can also enter a stake manually. Once a stake is entered the potential win amount is automatically shown. Where applicable, details regarding the bet terms, such as “Draw No Bet Inc. Overtime” for NRL fixtures, is displayed.
When you add selections to your multi a large blue number in the top right hand corner indicates how many selections are in your slip. When you click on that number your multi betting slip is displayed.
The betting slip enables you to create all-in multis as well as doubles, trebles, 4-fold, 5-fold, etc. wagers using the selections in your slip. For example if you have five items in your slip, you can opt to create 5 4-fold bets, 10 trebles and 10 doubles using every combination of your selections. This enables you to create exotic multiples such as the Yankee, the Patent, the Trixie, etc.
Overall the interface is functional and easy to use, however we have reservations about the betting slip functionality.
In addition to its standard bookmaker service, TopBetta offers sports and race betting tournaments where the “TopBetta” is the player who makes the most profit from their bets. There are both free and paid tournaments. The paid tournaments pay cash prizes while the free tournament winners receive free entry into paid competitions.
In each tournament punters are given 1,000 “Betta Bucks” – a TopBetta fantasy currency – to bet with on the nominated fixtures or races. Participants are ranked based on the profit they achieve using the fantasy money. Participants can place as few or as many wagers as they wish using the funds. The smaller tournaments have a winner takes-all-prize while the bigger competitions award lesser prizes to the runners up. The actual payouts are based on the size of the pot, which is based on how many people entered the competition.
For the paid tournaments the entry fee is taken from your account balance, with tournament winnings paid back to your balance. This same balance is used for standard sports and race wagering. Typically for a tournament with a $6 entry fee, $5 is allocated to the prize pool with $1 kept as a service fee by TopBetta. Entry fees vary between tournaments. The paid tournament entry fees ranged between $1.25 and $55 at the time of review.
A typical sports tournament consists of one round of fixtures for a particular league, e.g. NFL Week 6. You can spend your fantasy money on any of the markets for any of the fixtures in that round. A typical racing tournament consists of all races at one venue on a particular day. The tournament betting interface is identical to that used in the regular sports and race betting service.
At the time of review we observed markets for American Football (NFL, NCAAF), Baseball (MLB), Cricket, Football (Premier League, Bundesliga, A-League, La Liga, MLS & Serie A), Golf, Motor Sport (Formula 1, Moto Grand Prix, NASCAR), Rugby League (NRL) and Rugby Union. While it wasn’t in season during the review, we assume AFL is also offered because AFL rules are explicitly mentioned in the terms and conditions.
While the range of sports covered isn’t particularly wide, you do get a decent range of markets for the fixtures that are covered, however the range of markets per fixture isn’t as broad as the leading bookmakers.
Thoroughbred racing is available for venues in Australia and New Zealand as well as Ascot (UK), while greyhounds and harness racing are offered for Australian and New Zealand venues.
Win/Place, Quinella, Exacta, Trifecta and First Four markets are available. Depending on the horse racing event you will be offered one of the following totes: SUP = SuperTab, TOP = Top tote from NSW/S-TAB/Tatts or BO4 = Best of 3 Totes or SP. For greyhounds and harness racing you are offered one of MID = Middle tote from NSW/S-TAB/Tatts or SUP = SuperTab. Fixed odds markets aren’t offered.
When you click on the name of a runner their form guide is automatically displayed. The odds flash red and green to denote odds changes leading up to the race start.
A neat feature of the interface is when you view the list of today’s races, any races that you have placed bets on are highlighted with a “B” icon.
The GOAT Top Tote
In May 2017 TopBetta launched a GOAT Top Tote product, which TopBetta claims is the world’s first wholesale-only tote and provides greater returns to punters with no limits on those who win.
Tote markets in Australia take out 17%-25% out of the pool before paying out winnings. In contrast, The GOAT Top only takes out a maximum of 12%, leaving a greater portion of the pool to be distributed to the punters who backed the winner.
GOAT Top is offered for thoroughbred racing, which pays out at the highest dividend of the three existing totes (NSW TAB, S-TAB and Tatts) and the GOAT Top.
GOAT Mid is offered for greyhound racing, which pays out at the middle dividend of the three existing totes (NSW TAB, S-TAB and Tatts) if the GOAT Top does not exceed this price.
The GOAT Top Tote has initially been rolled out at the following venues:
- Thursday: Warrnambool thoroughbreds (GOAT Top) and Albion Park greyhounds (GOAT Mid)
- Friday: Wagga thoroughbreds (GOAT Top) and Richmond greyhounds (GOAT Mid)
- Saturday: Flemington thoroughbreds (GOAT Top) and Wentworth Park greyhounds (GOAT Mid)
Live Sports Betting
Due to Australia’s Interactive Gambling Act 1, live online betting is not available for Australians.
- Australian owned
- $0.01 minimum online wager
- Good value betting promotions
- Accepts large stakes wagers without delays
- Tournament betting (this is the main drawcard of the website)
- No online in-play betting (due to Australian law)1 and no in-play phone betting
- Can’t add more than one single selection to your betting slip at once
- No Skrill/Moneybookers or POLI2 deposit options
- No online identity verification
- Smaller range of sports than the leading bookmakers
- Smaller range of markets per fixture than the leading bookmakers
While TopBetta does offer a basic sports and race betting service, its main focus is tournament betting, where you compete against fellow members instead of taking on the bookmaker. Both free and paid competitions are provided. The free competitions offer entry into the paid competitions while the paid competitions award cash prizes based on the prize pool. Due to the greater frequency of racing competitions to sports tournaments, racing fans will likely get more out of the site, however fans of headline codes such as the NFL and EPL do get weekly competitions. At the time of review TopBetta feels like it’s still in its infancy, with less than 20 participants in most paid tournaments, however the service does show a lot of promise due to its unique offerings. For those who are looking for a different sports betting experience, TopBetta is certainly worth a look.
Notes and Sources
- 1 http://en.wikipedia.org/wiki/Interactive_Gambling_Act
- 2 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.
- 3 http://medianet.com.au/releases/release-details?id=780259
- 4 http://www.abnnewswire.net/press/en/87888/Topbetta-Holdings-Ltd-(ASX-TBH)-Acquires-Assets-of-Online-Bookmaker-Mad-Bookie-87888.html