LetsBet Review & Exclusive Code: GOBET500

LetsBet Rating: LetsBet Review by GoBet Use Code: GOBET500 Go to site

What is the LetsBet Sign Up Code?

GoBet’s LetsBet referral code or affiliate code is GOBET500 and you can apply this code during the signup process at LetsBet.

This LetsBet review aims to be more comprehensive than existing guides, which don’t cover its features in the same level of detail.

We’ll discuss everything that’s important to real punters, including withdrawal speeds, payment options and how the odds compare to other Australian bookmakers. We’ll also take a look at how the LetsBet sports betting app shapes up.

LetsBet at a Glance

A Brief History of LetsBet

Before we get into details with the LetsBet platform, let’s look into the company’s background. The site is owned by Lets Bet Pty Ltd, a business registered with ABN 661 312 849 in October 2022.

It’s not entirely clear who owns Lets Bet Pty, but the website’s privacy policy references James Filgate, a well-known industry figure. He’s involved in running a long list of online bookmakers, including BetBetBet and JimmyBet, but he also has an on-course betting license.

The earliest appearance of LetsBet.net.au seems to be February 2024, despite other reviews claiming a launch date of August 2023.

Is LetsBet a Trustworthy Betting Site?

Yes. LetsBet is operating legally, under a license from the Victorian Gambling and Casino Control Commission. In addition, the platform’s operations adhere to the South Australian Gambling Codes of Practice.

As a properly regulated bookmaker, LetsBet is part of BetStop, Australia’s nationwide self-exclusion program. It also offers responsible gambling tools specific to its own platform, including deposit limits and temporary cool-off periods.

LetsBet Online Betting Platform Review

This online betting site uses a white-label platform provider called GenerationWeb. It’s the same underlying software as PuntZone, BetNow and NinjaBet, along with more than a dozen other brands. So if you thought it looked a little familiar, now you know why.

Average Site with Limited Features

We love that the GenerationWeb platform is reliable and easy to navigate, but it’s not the most technologically advanced. It comes with a solid app, as you’ll learn later, plus a few modern features like Same Game and Same Race Multis.

However, you won’t be able to stream any live horse or greyhound races through the LetsBet website. Nor does it offer an early cashout facility. And you can forget about the “Black Book” feature offered by RipperBet.

Impressive Local Rugby and Footy Odds 

However, what LetsBet lacks in features, it makes up for with competitive odds. Generally speaking, anyway – the soccer prices are distinctly average, with high bookmaker margins of up to 10%, even on major Champions League and EPL games.

But when it comes to Australia’s favourite sports, you’ll need to work very hard to find a more generous bookie. Take the NRL win lines, for instance. Priced at 105%, that’s as low a margin as top bookies like Sportsbet and CrownBet. If you didn’t already realise, small margins mean better odds for the punter.

It’s a similar story for the biggest cricket and footy games, where win markets are priced around 105% to 106%. That puts the odds in line with – if not better than – leading operators like Ladbrokes.

Payment Methods at LetsBet.net.au

Check the table below for a list of deposit and withdrawal methods. It’s fairly limited compared to the country’s largest brands. But with cards, PayID and bank transfers, the key areas are covered.

There may not be a massive selection of payment options, but withdrawals are generally quick and the transaction limits are fair. The minimum deposit requirement is just $10, and you’ll need the same amount to request a payout.

Although the LetsBet team may choose to pay by debit card in certain circumstances, withdrawals are usually processed via Commonwealth Bank fast payments. Requests are handled twice daily – once around 11am, then again at 6pm.

That means you could potentially receive your cash in just a couple of hours, with good timing.

Is There a LetsBet Mobile App?

You didn’t think this was just a LetsBet betting site review, did you? There is a mobile betting app, both for Android and Apple devices – though neither offers anything particularly groundbreaking.

At the time of writing, the iOS version was rated 3.5 out of 5 by App Store users – not amazing, but not bad either.

Small Sample Size?

Now, it’s certainly worth highlighting just how little feedback there is from punters – that 3.5-star score came from just 17 ratings, so it could improve. And the Android application hasn’t even been downloaded and rated often enough to earn a score on Google Play.

Even though it’s a small sample, this experience actually tallies with our own. We found it easy to use, and our experience was free of glitches. It’s a solid app, which does everything you’d expect, but there’s lots of room for improvement.

LetsBet Promo Codes

Since 2019, strict regulations have been in place that prevent online bookmakers in Australia from inciting users to gamble. Because of this, LetsBet no longer offers bonus codes, either to new or existing customers.

That doesn’t mean they never run promotions, of course. If you log into your account, you’ll often see personlised promotions on the ‘promotions’ page. You’re especially likely to encounter special offers around major racing carnivals and sports tournaments.

Referral Code – GOBET500

It’s not going to earn you a bonus, but you can enter the LetsBet referral code GOBET500 when prompted. This is an affiliate code that helps fund the work we do, keeping our site full of helpful bookmaker reviews and betting tips.

Customer Support at LetsBet 

Unlike the country’s biggest-name operators, LetsBet doesn’t run a round-the-clock support service. Instead, you can reach out through the live chat widget any time between 9am and 9pm.

We’ve always found the support agents to be great. Waiting times are average at worst, and at less busy times, you’ll get a reply within just a few seconds.

Outside of live chat hours, you’ll need to email support@letsbet.net.au – there’s no social media support or telephone number to call. However, don’t expect an email response until the team reconvenes in the morning.

How to Create a LetsBet Account

Done reading our LetsBet site review? Ready to crack on? Here’s what to do:

1. Head to LetsBet.net.au – use a link on this page.
2. Click the red “Join” button near the top of the screen.
3. Enter your full name, home address, email and number.
4. Hit “Go to step 2” and set a username and password
5. Review your details, plus the terms and conditions 

After submitting your registration, the website will attempt to verify the information you’ve provided. Assuming it finds no issues, you’ll be logged in automatically and can make a deposit. In the event of a mismatch, speak to support – they’ll ask for your documentation.

LetsBet Review – Final Verdict

For the average punter, LetsBet will be more than adequate. Yes, the choice of sports is fairly limited. But there’s a complete horse and dog racing product, and the odds for Aussie rugby, cricket and footy games are some of the best in Australia.

Both the app and the website are easy to use, with intuitive navigation and decent-looking interfaces. They’re free from bugs, too – at least in our experience.

Promotions are thin on the ground at LetsBet compared to other bookies. But the payout speeds are up there with the country’s fastest-paying sites.

LetsBet FAQs

Who owns LetsBet?

Lets Bet Pty Ltd is the registered owner of LetsBet.net.au, under ABN 661 312 849. The company appears to be one of several owned – at least in part – by James Filgate, a licensed rails bookmaker from the Melbourne area.

How do I download and install the LetsBet betting app?

To set up the LetsBet sports betting app, scroll to the website footer and click either of the two buttons. Alternatively, go straight to the relevant application market place for your device and search “LetsBet”. Android users need Google Play, and it’s the App Store for Apple devices.

What is the LetsBet welcome promo code?

Australia’s strict gambling regulations prevent gambling sites like LetsBet from encouraging users to join with bonus codes. As such, you won’t find a welcome promotion for new players.

Does LetsBet have any bonuses and promotions?

Although LetsBet doesn’t have a bonus code for new players, existing users will see a number of ongoing promotions upon logging into their accounts. Look out for things that are available to you in your promotions page when logged in.

Is there a LetsBet friend referral code?

There isn’t a friend referral program, so you won’t get a bonus by entering a code. However, if you’d like to help keep our website running, you can use the LetsBet referral code GOBET500 when prompted.

How do I reset my LetsBet login and password?

Hit the white “Login” button in the top-right corner of the LetsBet.net.au website, then click red “Help?” icon. Provide the requested details, then follow the on-screen prompts to recover access to your account.

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