HANDS up if you've organised a punters club and had problems with:

A – keeping track of money

B – getting blokes to pay up

C – getting blokes to place their bets

D – getting blokes to be honest about their winnings

Well, forget about all that crap, our innovative friends at sportsbet.com.au have come up with the goods yet again.

Sportsbet's Punters Club allows an administrator to create a group betting account and invite members to it.

It takes the stress out of it for everyone and provides certainty for those punting.

Punting is always more structured and fun when you're doing it responsibly with mates and with the new punters club, each person can add funds to the account.

Sportsbet introduces its newest feature in this short video:

How does it work?

Setting up a club is easy: Establish the rules of your club (how much you want to bet, frequency of bet, etc), then it is just a matter of inviting your mates!

Once everyone has joined, it is then time to have a bet!

The club creator will place the first bet, and each member of the group will be notified by email or SMS when it is their turn to go.

All the members of the group will be able to see details of bets placed on their club's activity wall.

And don't forget the banter!

Become the hero when your $100-1 shot gets up or cop it from your mates when the odds on certainty that you've been spruiking for a week walks home in last place.

Enjoying it and having a bit of fun with your mates is part of the fun.

The product was launched this week and is available on the bookie's iPhone App, MobileWeb and Desktop Platforms.

Members of the clubs can contribute to the account either once off or on a weekly basis.

The organiser determines how often members will bet on behalf of the club.

Members take it in turn to bet on behalf of the club and have access to all of Sportsbet's events and markets.

There is also a live leaderboard that will show which punters are killing it, and which punters are proving costly to the team.

Possibly the best feature of the whole thing is that new punters can join the club at any time, with their share of the winnings and share of the betting pool automatically calculated on the date the join.

So when your at the races having a few jars and you meet a like minded punter who is about to be a life long mate, you can add him to the punters club and it will be no harm, no foul to any one else in the group.

Sportsbet customer Daniel Baker has already organised a punters club with his mates and says the banter is well and truly under way, even though they were yet to place a bet.

“We've tried to do this kind of thing before and have just found it too hard to keep track of,” Baker told CupsBetting.com.

“They are a great bunch of blokes, but jeez, it was hard to get them to pay up when it was their turn to punt

“I hardly have to organise anything now – with this app it's all done for us.

“It recognises who and when people joined and keeps every one up to date with where the groups at.

“It was a nightmare trying to chase blokes for money and what not and this takes the pain and frustration out of that, but leaves the fun and the banter between all the boys.

“No one gets let down, our punts get on and everyone is happy…

”Well, when we win at least.”

Sportsbet has released the product as a ‘Beta Trial', which allows for customers to give feedback and ensure users will receive the best possible product from the cutting edge bookmaker.