LSBet is a small, unknown betting provider. And according to my Experience it is rightly so. I looked at the offer over a longer period of time and put the LSBet sports betting offer through its paces. The focus was on a promotion called "50% Risk Free Bet".
Negative LSBet experiences
LSBet is an attractive betting provider at first glance. No betting fee, good odds, a lucrative bonus offer, interesting promotions and a fast software definitely make LSBet a sports betting provider that you should take a closer look at. However, if you scratch the beautiful surface, some points of criticism come to bear.
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Dubious license from Caribbean island Curacao
You should always start by looking at which Gambling-licence a provider has. In the case of LSBet, it is a licence from the Caribbean island state of Curacao. Anyone who has ever been to Curacao knows that things can get very chaotic there. A licence to print money from there does not necessarily meet the highest standards. This can be seen very quickly in the customer support, the general terms and conditions and the arbitrary actions of the financial manager.
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Language problems with a promotion of LSBet
The promotion advertises that you get a 50% free bet when you complete a four-way combination if three of the four individual elements are correct. Since the betting provider LSBet is located on the Caribbean island of Curacao, no one seems to have been found who speaks German well enough, so that the translations on the website often seem strange. If you talk to the live support in the chat, it becomes clear that there is a big language barrier here.
Either the support staff only work with the Google Translator, are very stupid or it is just a computer bot. Somewhat more complex problems should be formulated in the simplest sentences with subject-verb-object, otherwise a standard answer comes, which is very unsatisfactory and does not answer any questions.
Unclearly worded bonus conditions in the terms and conditions
The language barrier also becomes clear when you read through the bonus conditions of the promotion. There are two Points to criticise.
The promotion was originally announced and advertised as a four-way combo of TOP-4 leagues.
After my inquiry, the terms and conditions were changed and the four-way combination was limited to the Bundesliga!
That is already extremely unprofessional, if I change the terms and conditions because of a chat with a customer.
It's a good thing I took a screenshot beforehand 😉 This shows that it says "TOP4 leagues". I actually just wanted to enquire with support which four leagues are meant by this to avoid any hurdles. The title advertises the promotion as "Bundesliga-Kombi", which is why the "Top4 leagues" made me suspicious.
As you can also see there is even a typo in the headline. Such mistakes don't happen to any halfway good marketing department in the world: "Kombiette auf Bundesliga-Spiele" Bet that a W is missing!? Amateurs - or worse - idiots or fraudsters could be at work here.
Also, the wording is unclear as to when you get the free bet and what you have to do to get it.
I assumed that you get the 50% free bet if you get at least three single tips of a four-way combination right. However, the support denied that and limited this bet to when you have exactly three out of four individual tips correctly. With four correct Tips you win the four of a kind. With three correct, the 50% free bet serves as a kind of cashback, which is comparable to the rake in poker.
3. excluded from the promotion
To get the free bet you have to send your betting slip ID to the support after the end of the games. There they will check if you meet the conditions:
- Combi with four single tips ☑
- Minimum odds of 1.50 per single tip ☑
- Already deposited money at least the second time ☑
- no money withdrawn after the second deposit ☑
- Set at least 20 euros ☑
I asked live support if I was eligible for the promotion before signing up for a 100 euro foursome. I was told twice that I was eligible and that I didn't need to ask beforehand, but simply submit the betting slip ID afterwards.
Now something has happened that LSBet had probably not thought possible. I have won the four-combination twice and made a total of 700 euros profit.
LSBet bonus action documented in video
4. contradictory statements of the support team
So I made the four-of-a-kind combination five times because of the LSBet promotion and risked a total of 450 euros. After I had won twice and made a profit of 760 euros, I had a 100-euro four-way combination with 100 euros for the first time Insert lost with exactly three out of four single bets and claimed the well-deserved 50 euro free bet.
However, the live chat support told me that I could I am not eligible for the promotion. That hit me quite unexpectedly, since I had been certified twice before that I was eligible for the promotion. However, I had not yet won anything.
When asked why, I was only told that there was a Decision of the Financial Manager had been and I should ask with the. I did that by email.
The financial manager did not explain my exclusion from a publicly advertised promotion in which I had fulfilled all the conditions, however, and only informed me that this decision was "final".
5. promotion block because of LSBet affiliate link
I had promoted LSBet as an affiliate. That is, I got a one-time commission when someone signed up with LSBet. Since I myself was convinced that one could make profit with this action, I advertised as LSBet in good conscience in my Youtube Channel. And everyone who has kept to my tips should have brought in a whopping profit.
I angrily contacted the affiliate manager and told him what I thought of these fraudulent methods. I advertise a promotion and get LSBet customers and risk my own money only because I get a 50% free bet as compensation in the event of a loss. And then LSBet arbitrarily decides afterwards that you can't claim this promotion at all!
If I hadn't had the protection of the 50% free bet, I would never have taken out a 100 euro four-way and certainly not advertised the small betting provider LSBet with the dubious license on Curacao.
In about 10 videos I have made advertising for LSBet and thus reached about 10,000 views. LSBet got five new customers and I got a measly referral commission, which is much lower than my profits at LSBet. So these promotional efforts were lies. LSBet makes sure that my credibility suffers.
The reason for my sudden exclusion from the promotion was finally claimed by the affiliate manager that I had signed up myself via an affiliate link. So a link for which others get a commission. Furthermore - and this was the final straw - the affiliate manager insulted me and called the number of new customers I had referred "poor". This shows what mental poverty prevails at LSBet.
- if I signed up through an affiliate link, it was by accident and not on purpose.
- It didn't matter how I signed up for my first two promotions inquiries.
- It would be a small matter for a well-organized company to cancel the affiliate sales generated by my player account - especially since they were negative, because I made a profit and thus the intermediary (affiliate partner) gets the loss deducted by LSBet from his referral commissions.
- Goodwill towards a partner would be in order instead of insults.
- It may be true that I referred few new customers, but the number is not crucial either. The conversion rate was around 2%. So out of 100 people who clicked on the LSBET ad, two signed up and deposited money. That rate is very, very good, as any online marketing expert will tell you. Only the affiliate manager of LSBet doesn't seem to understand that.
Summary of my LSBet experience
I'm disappointed and angry at the business methods of LSBet. They promise a promotion and then arbitrarily exclude you from it without giving any reasons. The real reason is obvious: I probably won too much.
The poor support with understanding and language problems as well as the dubious license from the island state of Curacao fit well into the picture. I only hope that I can somehow withdraw my winnings.
CONCLUSION: LSBET SPORTWETTEN IS DEFINITELY A DUBIOUS PROVIDER!
Delete LBbet account
I will withdraw my money and then delete my LSBet account. I hope that I get the money back. The first attempt has already failed. Here I tried to transfer the money to my bank account. It took too long though, so I cancelled the withdrawal again so I could complete another foursome.
On the second withdrawal attempt, I wanted to withdraw the money to my Neteller account. They only asked for a screenshot of my Neteller account, showing my name and email address. Fair enough! Whether this really works remains to be seen. As of now (3.5. 2018) I do not have the money yet on the Neteller account.
