Registration Number: C43731
- LGA/CL1/435/2007
- LGA/CL3/435/2007
- LGA/CL3/436/2007
- LGA/CL3/437/2007
Key Official
The key official of the company has been appointed in accordance with the Remote Gaming Regulations LN176 of 2004 of Malta and may be contacted on ko@redbet.com.
License
Redbet Gaming is a limited liability company registered in Malta, a member of the EU since May 2004, that operates this website under provisional licenses issued by the Lotteries & Gaming Authority of Malta and is also regulated by the said Authority.
Who lies behind RedBet?
Redbet was founded by a group of Swedish entrepreneurs, computer programmers and sports betting professionals – all with lengthy experience in the sports betting industry. Redbet Ltd. was founded in May 2002 with its mission being to provide a market leading online betting exchange service. The intention has always been not to rush the introduction of Redbet’s online service, instead ensuring the quality of our product before its launch. Redbet’s internet service went online in August 2004.
Redbet Gaming Ltd is owned by Redbet Malta (Hldg) Ltd and part of the Redbet group. The mother company in the group, Redbet Holding AB (publ), is a company listed at First North, OMX Exchange Stockholm.
Betting Exchange
Redbet is a betting exchange, meaning you play directly against other punters. The odds are dynamic and are determined by you, the punter. The advantage with exchange betting is that you often get better odds than those offered by traditional bookmakers.
How does it work?
For each event the best current odds proposed by other punters are shown. You can choose to match these odds directly and thus making a bet. A betting exchange offers the opportunity for punters to offer their own odds to other players. However, as this feature requires a lot of knowledge, it is not accessible for the regular user. If you're interested in offering your own odds, contact betting@redbet.com and we'll evaluate your request.
Why are the odds better?
The punter who is willing to "outbid" others by offering more attractive odds always stands at the head of the queue and therefore has a greater chance of having his bet matched. The further the odds are pushed up, the more interesting they become to potential opponents. This ensures competition on the market, which is dynamic leading to better odds for all concerned.
Commission
A commission charge is only payable on your net winnings for each market. This means that if you don’t win, you don’t pay any commission. The commission charge on net winnings is 4%. As a result of this income model it is of no importance to us whether you win or lose. A number of regular bookmakers have the policy of refusing bets from frequent winners, something which Redbet does not do.
Casino and Poker Rooms
Redbet also offers its players a casino and 2 poker rooms. The Casino is provided by the Net Entertainment Ltd. platform while the poker rooms are provided by the B2B Poker Network and Boss Media platforms all licensed in Malta and offering state of the art technology and a high quality experience to our players.
- Net Entertainment Ltd – License Number: LGA/CL4/184/2004
- Entraction Network – License Number: LGA/CL4/233/2005
- Boss Media – License Number: LGA/CL4/206/2005
