IASbet began life as Darwin All Sports, with the brains behind it being the irrepressible Mark Read, the most famous member of one of Australia’s best known bookmaking families.
At 24, Read became the youngest bookmaker ever to be granted a rails bookmaking licence by the Victoria Racing Club and he broke numerous turnover records, including being the first bookmaker in Australia to hold $1 million on the four-day Melbourne Cup Carnival at Flemington.
A fearless and brilliant punter, Read was a major player in both the Melbourne and Sydney rings throughout the 1970s, 1980s and early 1990s before turning his attention to online sports betting. In 1996, Darwin All Sports, a subsidiary of International All Sports, was granted one of three sports bookmaking licenses by the Northern Territory Government.
In 1999, International All Sports floated on the Australian Stock Exchange. And in 2001, Darwin All Sports changed its name to IASbet, the name by which it is known today.
Read continued to lead the International All Sports group, merging it with Canbet in 2004, until its sale in 2009.
Now the bookmaker is owned by Paddy Power’s Australian subsidiary, Sportsbet.com.au, which explains why its easy-to-use website bears a striking resemblance to that of its sister bookmaker.
In the rest of this review we will look at their betting options, bonuses, security and licensing, how they treat professional and recreational punters and their banking practices, before providing an executive summary.
As one would expect of any serious online bookmaker, IASbet offers an excellent sports gambling service that caters not only for the Australian sports betting enthusiast but also fans of sports with global appeal such as baseball and ice hockey.
But it is in the realm of horse racing that they come into their own and that is why their advertising campaigns position it as the leading Australian racing bookmaker.
Their racing products include CITY SuperPrice and SuperPrice, while its racing betting services include Black Book and PremierRatings, formerly known as Read Rating.
CITY SuperPrice is the final payout offered by IASbet at the close of betting that guarantees to pay better than the three Australian totalisers – NSW TAB, SuperTAB and UNiTAB. It is available for win bets only on all metropolitan horse racing in Adelaide, Brisbane, Melbourne, Perth and Sydney.
SuperPrice is the final payout offered at the close of play that guarantees to pay higher than at least two of three Australian totalisers. Where it differs from CITY SuperPrice is that it is available on all forms of Australian racing and horse racing in Hong Kong, New Zealand and Singapore. It is available for win, place, quinella, exacta, trifecta, first four, multiple and flex betting.
Black Book is a feature that enables clients to follow their favourite horses and greyhounds and receive free notifications whenever they are scheduled to race.
And PremierRatings, which IASbet says is Australia’s premier rating and form service, is available free of charge to customers as well. PremierRatings helps punters to identify winners, find value-priced runners and assists making selections for a wide range of exotic wagers.
IASbet has even better sign-up bonuses than its sister bookmaker, Sportsbet. Australian residents who do not live in Victoria – the Garden State has laws against bookmakers offering free bets and/or bonuses as inducements – get a free $100 bet if they open an account, enter the FREEBET promotional code in their application and make an initial deposit of at least $50. There are terms and conditions attached to the offer, the most important of which is the requirement for punters to turn over any proceeds from winning free bets, plus their initial deposit, at least once before they are able to withdraw them.
Australian residents who do not live in Victoria get a 20% sign-up bonus when they open an IASbet account, enter the PLAYER promotional code in their application and make an initial deposit of at least $150. The sign-up bonus is limited to $200 and cannot be used with any other offer. Also, like the free bet promotion, there are terms and conditions, the most important of which is the requirement for punters to turn over bonus amounts and their initial deposit at least once before they are able to withdraw them.
IASbet caters for punters who reside outside Australia with a generous bonus as well. Any non-Australian punter who opens an account, enters the WELCOME promotional code in their application and makes an initial deposit of at least $50 receive a $50 free bet. Again, there are terms and conditions attached to the offer, the most important of which is the requirement for punters to turn over any proceeds from winning free bets, plus their initial deposit, at least once before they are able to withdraw them.
The great bonuses continue once you are an IASbet client, with regular promotions across both sports and racing, a refer-a-friend scheme and theCLUB, which is their exclusive racehorse owner, breeder and trainer privileges program that is a must for any Australian connection.
Security and licensing
IASbet is licensed in Australia’s Northern Territory and, therefore, operates in one of the world’s most tightly regulated gambling environments. There are strict rules as to the types of bets that they and other NT-licensed bookmakers can offer and a long list of provisions that ensure that punters can bet with considerable confidence.
An approved partner of the AFL, Australian Rugby Union, Cricket Australia, National Rugby League and Tennis Australia, IASbet is fully regulated by the Northern Territory Racing and Gaming Commission and, consequently, it is a very safe place to bet online.
Is IASbet Professional punter friendly?
As befits an online bookmaker that the Read family built, this is a place where professional punters can get set alongside their recreational betting counterparts.
IASbet’s exclusive racehorse owner, breeder and trainer privileges program, theCLUB, targets punters who like to place large bets, offering top odds, cashback rebates on losing wagers and lucrative refer-a-friend benefits.
Depositing money is a very quick and simple process. They accept credit/debit cards, PayPal, SecurEFT, POLi, Neteller and Moneybookers for instant deposits and supports other deposit methods, including cheques, bank transfers and BPAY. Sportsbet clients can open accounts in seven currencies – Australian dollars, New Zealand dollars, American dollars, British pounds, Hong Kong dollars, Singapore dollars and euros.
IASbet offers six withdrawal options. It favours bank transfers but also supports credit/debit cards, PayPal, cheque, Neteller and Moneybookers.
IASbet is a must for Australian racing punters thanks to its excellent sign-up bonuses, ongoing promotional offers, free information services and willingness to take large bets.