Mybet has been operating for 10 years but it has flown under the radar of most international sports punters, with its focus being away from English-speaking countries such as Ireland, the United Kingdom and the United States of America, and instead on German-speaking nations in Central Europe.
The bookmaker operates out of Malta; its parent company is publicly listed in Germany so it is essentially a German bookmaker. mybet Holding SE bought the company in 2006, turning Personal Exchange International Limited into a 100 percent subsidiary of the German organisation. Personal Exchange International Limited had been operating successfully in the sports gambling market for four years before its acquisition.
mybet is web-based but is also accessible online through its bricks-and-mortar shops, most of which are in Germany. The parent company holds a Schleswig-Holstein gaming licence and it is hopeful of obtaining a Germany-wide betting licence if they are introduced in the future. German legislators are currently considering changes to online gambling laws, so country-wide licenses appear to be on the horizon.
A big disappointment is that there is not an app for either Android or iOS devices. It does have a mobile-friendly version of its website but, frankly, it is not the same thing as having a dedicated app for your mobile device.
mybet does not have anything like the range that one sees on most online gambling websites so, if one likes to bet on a lot of sports and is not interested in opening a lot of accounts, it will not be near the top of one’s list.
The strength of this bookmaker lies in its football wagering service, in particular with relation to its offers on matches played in Germany. Many online bookmakers cover Germany’s top two or three football competitions reasonably well but this odds-maker really goes to town on German tournaments. To cut a long story short, if one wants to bet on a football game in Germany, the chances are that mybet will have a market on it.
The site is strong on other sports that are popular in Germany and German-speaking countries, with punters with a penchant for sports such as handball, ice hockey and tennis serviced well. But there are holes elsewhere in the bookmaker’s offering.
Live gambling is a separate section of the website. It has no frills and does not compare favourably with the live in-play system of the market leader in this aspect, Bet365, but it will meet the in-play needs of the type of sports punter attracted to mybet in the first place.
New Player Bonus
There’s a 25% bonus, up to a maximum of €50, on one’s first deposit. Before one can withdraw the entire amount, one must turn over the deposit amount once and the bonus amount five times within 60 days on sports bets with odds of evens or higher. So the offer is neither extraordinarily generous nor extraordinarily easy to access. In short, they are much better inducements for new clients out there.
Another promotion they offer will not excite sports punters with even just a rudimentary grasp of mathematics. There’s a minimum weekly jackpot of €1,000 during the European club football season and all one has to do to get a piece of the jackpot is to place a successful 11-game accumulator on any 11 games in the English Premier League, German Bundesliga or Spanish La Liga competitions. Three to the power of 11 works out at 177,147 so that is the number of result combinations from which mybet jackpot hunters have to pick the correct one. Good luck with that. It’s for mug punters only.
Security and Jurisdiction
The company is based and licensed in Malta where it is regulated by the country’s Lotteries and Gaming Authority. Malta’s membership of the European Union means that it is a safe jurisdiction in which to conduct business. Another factor in their favour is that its parent company holds a gaming licence in the German state of Schleswig-Holstein.
With limits restricting the maximum prize per day and per week to €30,000 and €50,000 respectively, professional punters are not going to be interested in this bookie.
The site is aimed at recreational punters who live in central Europe and like wagering relatively small amounts of money on sports that are popular in Austria, Germany and other nations in which German is a popular language.
mybet offers the usual range of depositing and withdrawal methods so one should experience no trouble and no cost getting money either in or out. However, it is important to note that, according to the terms and conditions listed on the website, it does not accept clients from Belgium, France, Poland or the United States of America. Even more noteworthy is that it only operates accounts in euros, which will put off punters living outside the eurozone.
mybet knows its audience – German speakers who like football played in the Fatherland – and that is why it has been successful. However, its appeal to punters who do not fit that profile is fairly limited, especially now that it does have a betting exchange as part of its overall offering.