Colossalbet Review by GoBet Not Recommended Note from the Editor:
The main reason we rate Colossalbet as our least recommended betting site is that we previously had commercial arrangements with them and they refused to pay money that was owing to us. This raised a serious question – if they are willing to do this to commercial partners, what are they willing to do to punters who use their platform? For this reason, we cannot recommend using them, despite being licenced and regulated in Australia.
This Colossalbet site review breaks down all you need to know about an online bookmaker that launched in 2021. You’ll learn about the odds, markets and promotions available, plus payment methods, support channels and other useful information.
We’ve also looked into the Colossalbet sports betting app, along with the company’s background, to see how trustworthy this operator is. Finally, our guide explains how to register, before addressing some frequently asked questions about Colossalbet.
Featured Betting Sites
⭐ Top-rated bookieExclusive Code: GOBET500
📊 200+ player stat marketsExclusive Code: GOBET500 🔥
🏇 Best of 3 Tote oddsExclusive Code: BET500 🔥
🌐 600+ sports marketsExclusive Code: GOBET600
⚡ 6x daily Osko withdrawalsExclusive Code: GOBET500
🆕 JUST LAUNCHED! March 2026Exclusive Code: GOBET500 🔥
📋 Racing toolkit + form guideExclusive Code: GOBET500
🔬 RaceLabs insights built inExclusive Code: GOBET500
💸 Social betting + fast withdrawalsExclusive Code: GOBET500
🦘 Aussie-owned racing specialistExclusive Code: GOBET500
🖥️ Punterstech platform + fast payoutsExclusive Code: GOBET500
🏇 Competitive racing oddsExclusive Code: GOBET500
Imagine what you could be buying instead.
Set a deposit limit.
Colossalbet.com.au at a Glance
| Launched | 2021 |
| License | Racing NSW |
| Number of Sports | 15+ |
| Horse Racing | Yes |
| Greyhound Racing | Yes |
| Esports | Yes |
| Live Streams | No |
| Cashout | Yes |
| Multi Builder | Yes |
| Mobile App | YesApp Store: 3.8* Google Play: 3.6* |
| Minimum Deposit | N/A |
| Minimum Withdrawal | $5 |
| Withdrawal Times | 1 hour to 72 hours |
| Customer Support | Live chat: 9am to 9pm (6pm only Mon-Tue) Email: support@colossalbet.com.au Phone: (02) 7202 7462 |
A Brief History of Colossalbet
This online betting platform launched in 2021, but we don’t know much else about it. The owner and operator, Ryman Racing Pty Ltd is based in Australia, at Royal Randwick racecourse.
However, as a private proprietary company, the list of shareholders isn’t publicly available, so we’re not sure who owns it. It does possess a license from Racing NSW though.
Pros
No minimum deposit requirement Cash-in via 3,000+ retail outlets Compeittive NRL and AFL odds Detailed form guides and statsCons
Limited live chat support hours Only bank transfer withdrawals Can’t watch live racing streams Not a GoBet partner
Is Colossalbet a Trustworthy Betting Site?
Probably (for punters), but there have been a few minor blips along the way. For example, in April 2025, Colossalbet was fined $60,000 for posting prohibited gambling advertisements to social media.
The fine was over a sub-brand called PuntHub. Five social media posts in October 2023 “failed to meet standards of decency, dignity and good taste.” If you ask us, the regulator failed to meet standards of “having a sense of humour”.
Still, we’re aiming for honesty and transparency with this Colossalbet review, so it’s only right that we mention such regulatory breaches.
As mentioned at the top of this review, we have also had our issues with Colossalbet (not from a betting point of view), so it’s hard for us to recommend using them. We’d suggest looking at some of our top-rated Australian betting sites instead.
Colossalbet Online Betting Platform Review
So, what exactly can we expect from this online betting site? You’ll find certainly slightly fewer sports than average – usually between 15 and 20, depending on the time of year. And it’s a fairly traditional offering.
What do we mean by that? Well, it’s dominated by horse racing, plus the usual Aussie favourites, like AFL, NRL and cricket. It also lacks some of the features found at new betting sites – there are no live streams, for example.
Standard Betting Platform Features
Colossalbet offers same game multis and same race multis, along with cashout and a solid mobile app. Esports is a thing, but the coverage is extremely limited, with just League of Legends available when we compiled this review.
A feature we like is the Vault, which contains personalised bonuses and promotions, as well as data-driven betting advice and tips.
Competitive AFL and NRL Odds
Prices are good, consistently towards the head of the market for most sports. For the country’s biggest events – notably AFL and NRL – the odds are especially generous. Both competitions are priced to around 105.5%, in line with the likes of Neds, Sportsbet and Pointsbet.
The margin for international T20 cricket lines is roughly 6% – only slightly bigger than the country’s leading bookies. But the soccer odds are pretty ordinary – EPL win prices are set around 107%, with UEFA competitions at 108%. You’ll get better odds than BetDeluxe and Picklebet, but not bigger brands.
Payment Methods at Colossalbet
Colossalbet provides a familiar selection of deposit and withdrawal options, as illustrated in the table:
| Payment Method | Deposit | Withdrawal |
| Debit Card | ✅ | ❌ |
| PayID | ✅ | ❌ |
| Apple Pay | ✅ | ❌ |
| Google Pay | ✅ | ❌ |
| BPAY | ✅ | ❌ |
| Colossalbet Cash-In | ✅ | ❌ |
| Bank Transfer | ✅ | ✅ |
There’s no minimum deposit requirement, which is unusual, but great to see. Payments made by card, Apple Pay and Google Pay reflect in your account balance immediately, though others may take 24 to 48 hours.
Additionally, Colossalbet partners with Blueshyft to allow cash deposits through a network of retail outlets. There are no fees for this real-time service, but the minimum requirement is $10. Use the app to locate your nearest store.
Colossalbet doesn’t charge withdrawal fees, and the minimum requirement is just $5. However, bank transfers are the only option. Payout requests are processed several times a day, but only between 9am and 5pm and not at weekends.
Once approved, funds could be with you in a matter of minutes, depending on your bank account. It may require up to 72 hours, though, if you’re withdrawing late on a Friday.
Is There a Colossalbet Mobile App?
There’s an app, but you wouldn’t know it based on the Colossalbet website – we couldn’t find any links or references to it. Still, it’s available in both the App Store and Google Play, where it receives reasonable reviews from real users.
Over 10,000 people have downloaded the Android application, which is rated 3.6* out of 5. The iOS equivalent scores slightly better, at 3.8*. Though with fewer than 150 reviews at the time of writing, it’s not exactly the biggest sample size.
The software you need is provided by Ryman Racing Pty Ltd. If your search reveals any similarly-named apps from other developers, ignore them.
Colossalbet Promo Codes
Next up, our Colossalbet betting site review will look at bonuses. There are several regular promotions for existing players, but you won’t find any welcome bonus codes. That’s due to Australia’s tight regulations around promos that induce signups.
Still, if you have an account, you’ll notice the vault symbol next to your balance. Click this to reveal goodies similar to the popular Punters Toolbox at Neds.
Customer Support at Colossalbet
Reach out to the support team via email, phone or live chat – though the latter isn’t available 24/7. Its operating hours are 9am to 9pm Wednesday to Sunday, and 9am to 6pm on Monday and Tuesday.
Click the speech bubble icon, then provide your name and registered username, to open a live chat window. There are no frustrating chatbots here, and an agent will be with you in no more than two minutes.
How to Create a Colossalbet Account
- Use our links to open the colossalbet.com.au website
- Click the white “Join” button at the top of the page
- Provide your name, address, mobile, email and birth date
- Optional: set a daily, weekly or monthly deposit limit
- Choose a valid username and password
- Tap “Create Account” to accept the Ts&Cs
That’s all there is to it. Unusually for an Australian betting site, there’s no need to verify your identity at this stage. However, you can’t deposit until you’ve provided ID, and if you fail to verify within the first 14 days, your account will be locked.
Colossalbet Review – Final Verdict
We certainly wouldn’t talk you out of joining Colossalbet if you really wanted to, but there are definitely sites with more sports and markets. The odds are great for the most popular sports – particularly AFL and NRL games – but they’re pretty standard in other areas.
The Colossalbet website is easy to use, and the mobile betting app is solid, if unspectacular. We love the low transaction limits, which encourage sensible and responsible gambling. But it would benefit from a few extra withdrawal methods.
Colossalbet FAQs
Colossalbet is the trading name of Ryman Racing Pty Ltd. It’s not clear who owns Ryman Racing, as there’s no information online. The shareholders of private proprietary companies like this aren’t usually listed in public.
Open the App Store on your iOS device, or Google Play on Android, and type “Colossalbet” into the search bar. The official Colossalbet sports betting app is provided by Ryman Racing Pty Ltd – ignore any other software.
There is no Colossalbet welcome offer, so you won’t find a promo code. This kind of promotion was banned in Australia back in 2019.
Yes, but they’re not displayed in public, to comply with industry regulations. You don’t need any bonus codes – just log into your Colossalbet account to see the latest promotions. We’ve detailed a few examples elsewhere in this review.
Colossalbet doesn’t have a friend referral bonus, so there aren’t any codes. You may see some affiliate referral codes online, but they won’t earn you a welcome bonus – promotions that induce registrations are illegal in Australia.
Click the grey “Log In” icon at the top of the Colossalbet homepage, followed by the white “Forgot password” button. Fill in the form, including your registered phone number and date of birth, to receive further instructions on resetting your password.