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123BET has acquired BetShop and Favbet. Former customers of both bookmakers have been migrated to this platform.
Independent Review · June 2026
123bet Review 2026
Last updated: May 2026
★★★★☆
4.0/5
· Sports & Racing · Licensed AU Bookmaker
123bet is a licensed Australian bookmaker operating under a Northern Territory racing and wagering licence. It offers horse racing, greyhound racing, and harness racing alongside sports betting markets including AFL, NRL, cricket, and soccer. As part of Australia's competitive wagering market, 123bet provides punters with an alternative to the major corporate bookmakers.
Key features
Horse RacingGreyhoundsAFL & NRL MarketsLive In-PlayMulti BuilderPayID
Ideal for: Punters looking for a racing-focused Australian bookmaker with a solid platform.
Not ideal for: Punters who need the absolute widest market range - the major corporate bookmakers offer more depth.
"Gamble responsibly." · 18+ · T&Cs apply · Gambling Help: 1800 858 858
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Our Verdict"A licensed Australian racing and sports betting platform with competitive odds and a reliable wagering experience."
Pros and cons
Pros
- Licensed and regulated Australian bookmaker
- Covers AFL, NRL, horse racing and major sports
- Competitive odds across core markets
- PayID support for faster deposits and withdrawals
- Good option for account diversification
Cons
- Market range smaller than Sportsbet or Bet365
- Less brand recognition than the major operators
- App and website less polished than top-tier competitors
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Yes. 123bet holds a Northern Territory racing and wagering licence, which is the standard licence for online bookmakers in Australia. It is regulated by the NT Racing Commission and is legal to use for Australian residents.
123bet is a solid licensed Australian bookmaker. It is a good option for punters looking to diversify across multiple accounts, access competitive odds, and support an alternative to the major corporate operators.
123bet covers the major Australian sports including AFL, NRL, cricket, soccer, tennis, and basketball, alongside horse racing, greyhound racing, and harness racing. International sports markets are also available.
123bet supports bank transfer and PayID withdrawals. PayID withdrawals are generally processed faster than standard bank transfers. Check the 123bet website for current processing times and any minimum withdrawal amounts.
Sportsbet and Ladbrokes have wider market ranges and bigger technology budgets than 123bet. However, 123bet can offer value for punters seeking account diversification, and may have more lenient account treatment policies than the major corporate bookmakers.
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