First, let me state the obvious, is online betting is a scam, or is it legit?. Now that we are both on the same page, I will go into the details. First of all, if you have ever been asked to put money up by someone over the phone as an “investment”, then that is probably a scam because you are not buying any property or paying any money. However, online betting can be very profitable if you know how to do it, and if done right.
I would say is that yes online betting is a scam or is it legit. If you want to try it, I recommend that you first take the time to learn everything there is to know about online betting and then you should proceed with this decision in your own mind.
When it comes to online betting, there are genuine areas of concern for punters when it comes to whether or not bookmakers treat them fairly.
Some of the most common concerns include:
- Rouge operators
- The fairness of free bets with their limitations
- Identity checks and account verification
- Limiting of profitable bettors
- Withholding payments of winning bets
Addressing Major Concerns
As you can see, there are a few areas of genuine concern. The good news is that reputable sportsbooks have strict security, licensing, and regulatory measures in place to protect both themselves and punters and make online betting a safer environment.
Let’s take a closer look at the above concerns.
Do Rouge Operators Exist?
Sadly, they do. But the same goes for any type of business. The upside is that rogue operators and online betting sites are pretty easy to identify and therefore avoid. After all, the sites won’t be able to demonstrate security measures and even a Google search can tell you they’re a scam.
Are Free Bets a Scam?
While free bets from online betting sites are subject to limitations or restrictions when it comes to what you can use the bets on as well as the maximum winnings, they’re not usually unfairly restrictive. Reputable bookmakers always clearly lay out their offer’s terms and conditions, too. Simply read them before signing up for an offer.
Why Do Sites Do ID Checks?
Above-board bookmakers do this typically when they have reason to doubt your identity or age and want to make sure that neither money laundering nor underage gambling is taking place on their site.
Is It Fair to Limit Accounts?
Bookmakers limiting or closing profitable accounts is a red flag. Thankfully, reputable bookies won’t do this unless the account has made significant long-term profits. It may be frustrating for a punter, but it’s not a scam. After all, sportsbooks retain the right to refuse anyone’s business whenever they so choose.
Do Bookmakers Really Refuse Payments?
You have a right to be angry if a sportsbook is withholding your winnings. This type of practice is only ever done by reputable bookmakers if they truly believe something unusual or untoward has occurred. If that is the case, then the bookmaker is within its rights to withhold payments, but in any other situation, it’s a red flag.
How to Avoid Online Betting Scams
While the majority of online sportsbooks are above-board, there are always going to be unscrupulous platforms trying to take your money off you. By following the below advice, you’re less likely to fall victim to one of these scams.
1. Always trust your instincts
If something doesn’t feel right, walk away. You should be completely comfortable with placing an online bet.
2. Never succumb to pressure
Never give in to pressure when it comes to online betting. The pressure is a way that fraudsters try and get you to act quickly without thinking.
3. Do your research
Always do your homework before placing online bets. With a lot of fraud out there, you can’t simply rely on the information a site gives you.
Use search engines to look up a site’s name and see what pops up. If there’s not a lot of information out there, it’s not a good sign. Also, try and look up their address and contact details. Fraudsters often use postal box addresses rather than a physical office.
4. Watch out for fees
When it comes to online betting, make sure you know what’s expected in terms of fees. People often become so focused on upfront fees that they forget to ask about any ongoing fees.
5. Get independent guidance
If you’ve done your research and still feel unsure about the legitimacy of a site, you should seek independent guidance. For instance, here at Betopin, we spend our days putting online betting sites to the test to make sure they live up to our strict standards. All the sites that we rate and recommend are confirmed to be reputable, safe, and fair.
6. Get legal advice
If you’ve received any legal documents relating to online betting, you should seek legal counsel for sound advice.
7. Know about canceling
Finally, before you spend a penny with a sportsbook, make sure you know how and when you can cancel your real money account. While doing so, you may just come across a far-out policy that makes it almost impossible for you to cancel with a site.
Always look for a cancellation policy that doesn’t require you to jump through hoops if you’re unhappy with a platform.
Provided you’re aware and do your research, online betting can be a fun, safe, and lucrative pastime. Always bet at sites that a relicensed and regulated. Check out our top list for the best sports betting sites around.
