Top Financial Betting Sites
In this day and age, people can put a bet on pretty much everything. While sports betting and casino gambling are still the two most popular forms of wagering, many people have started to explore another type of betting, one that revolves around the world of finance.
Financial betting has quickly become a popular and rather a lucrative pastime. In fact, more and more people are enjoying betting on the outcome of currency markets. Financial markets-based games have enjoyed greater popularity following that of Forex, a market that has a daily trading value of trillions, compared to stock markets that have a daily trading value of just a few billion. With so much money at stake every day, it’s something you might be interested in getting into.
What people like about financial betting is that it’s dynamic, fast-paced, unpredictable and, of course, has the potential of winning you a lot of money. If you’re into finance and think you can accurately predict the outcome of future events, then this type of betting is definitely something you should try out.
Here at Betopin, we love all things betting, which is why we’ve been hard at work ranking the best financial betting sites out there to bring you all the information you need, from betting options and customer service to promotions and security. We take into account how many betting instruments they cover; how fast withdrawals are and more.
Once a site passes our test with flying colours, it makes our top list of financial betting platforms. With that said, we’ve prepared for you a list of the absolute best financial betting sites in 2020. Take a good look at the list, explore the websites that are on it, and start betting today!
What Is Financial Betting?
When you punt on sporting events, it’s referred to as sports betting. When you bet on financial markets, it’s referred to as financial betting. In the financial betting field there are four main markets:
Forex refers to foreign currencies markets, one of the most-watched markets in the financial betting arena. The value of commodities, such as gold and precious metals, are speculated and bet on, while shares refer to various companies and indices are albums or collections of shares that fit with certain sectors, like finance or oil.
One of the most common questions we get asked from our readers is why they should bet on finance in the first place. Well, the answer is quite simple — it gives you an opportunity to win a lot of money. Just like sports punters who win by accurately predicting the outcome of a match they know a lot about or blackjack and poker players who have become millionaires by mastering their strategies, people who understand a thing or two about finance can make a quick buck by using financial betting sites.
If you’re an occasional punter and know-how online betting works, you will have an easy time adapting to financial betting sites. The types of betting are similar to sports betting, like fixed odds and spread betting. Moreover, many specialized sports betting sites have financial betting sections, so you will have a two-in-one platform through which you can switch from one type of betting to another.
What You Need to Know About Forex
Before you even get into financial betting, you need to know what forex is. It’s actually made up of two words – foreign exchange. Forex is the primary market where you can trade both national and regional currencies. It’s typically broken up into three separate markets:
- Forwards market
- Spot market
- Futures market
The spot market is where you can trade currencies on price. It usually takes about two days to settle. The futures and forwards markets don’t trade currencies, per se, but rather sell contracts to claims of currency.
The Forex market includes absolutely every single aspect of the stock exchanges’ buy, sell or hold actions. It’s also the biggest market in the world when it comes to trading volume. That’s because forex is the central place where every currency in the world is traded.
One of the main differentiating factors between Forex and all other markets is that Forex is not centralised. Transactions all happen over a series of computers and digital networks. Forex is also a 24-hour market, open 5.5 days a week. During the week, the markets endure a constant stream of fluctuation, and that’s what financial betting is all about.
The Difference Between Market Investment and Financial Betting
With market investments, you wager on long-term positive outcomes. Investors can buy and sell shares of publicly traded companies and make money through capital gains and dividends.
But with financial betting, it’s all about gambling while the Forex market is about investing. The more you learn about the ins and outs of financial betting, the more you’ll see the similarities it shares with market investments. They’re sort of inter-linked. If you want to become a successful financial bettor, you need to understand Forex. Yet it’s common for newer Forex traders to try out financial games to find their feet and develop a better understanding of Forex.
Why Financial Betting Wins
Financial betting is more fun than market investing. While they’re similar concepts from the point of view of odds, gamblers will always encounter stiffer odds. Online casinos and sportsbooks need to keep running. So, they offer financial betting as something extra to do. There are also plenty of advantages to financial betting, like:
- Faster – if speed is kind of a deal for you, financial betting offers faster action than Forex
- Lower fees – you can be up and betting in the time it would take you to set up a Forex account. There’s no brokerage fees or trading commissions since you’re not trading currency.
- Quicker to learn – and easier, too. You can be up and betting in minutes.
- Tax laws – when you trade Forex, you’re subject to tax laws. But with financial betting, your winnings aren’t subject to the same sort of red tape. Of course, this will also depend on your country’s laws and the rules imposed by the financial betting site.
- Anonymity – you can keep your last name out of it and stay focused on the fun.
Overall, the fact that financial betting is quick and easy to learn makes it appealing. There’s also just more action. The sites on our top list offer other games, you can look up your preferred financial bets while waiting for your fellow poker players to bet on games and so much more.
Your first step is to find an online financial betting site or an online casino that offers financial betting. Then, open an account, read up on the tutorials and get started.
Different Types of Financial Betting
While you can bet on personal whims or use a random strategy, a winning strategy will always come from thorough research. Fortunately, it’s easy to get going with simple bets. Here are the most common types of financial bets.
Spread betting is the most popular of financial betting. When it comes to spread betting, you can win or lose unlimited amounts of money, since it’s all based on how much a share soars or falls.
So, if you set a bet, it could fluctuate a couple thousand or drop a few hundred. Or anything in between. Spread bets are somewhat crazy in the best sense of the word, with some books offering limits or caps. So, winning an unlimited amount of money won’t be an opportunity that you can get everywhere, as bookies want to protect themselves from getting exploited. Nevertheless, there’s no denying spread bets are the most fun.
Fixed Odds Betting
Fixed bets are simple and common. Many new financial punters stick to this type of betting because it’s the easiest one to learn, and it’s a good training ground for what follows it. They let you keep your wager based on the amount you’re prepared to stake. So, you place bets on whether or not the shares of a currency will rise or fall to a particular point. This is very similar to over/under betting in sports. The bookie will let you choose from various pricing options. If you bet on a price close to what the book predicted, you won’t win much, but if you go a little further and bet the price that increases or drops significantly and your guess is correct, you are in for a hefty profit.
If you’re already a pro broker or a pro at financial betting, you’ll probably get binary betting right away. But binary betting is not for newbies. It’s a highly advanced betting matrix similar to spread bets but limited to just wins and losses. It’s also based on an odds index that ranges from 0 to 100.
With binary betting, the bet always settles at 100, or 0, depending on the event you’re betting on and which point it reaches. There are several different types of bets you can make here, and they include up/down, rise/fall, higher/lower, touch/no-touch, and in/out.
There’s a lot more that can be said about binary betting, but we won’t go into any details, as this is just a guide for beginners. If you wish to learn more about binary betting, you will have to read various financial betting guides and practice for yourself. As we already mentioned, this is not a betting type for beginners, so it’s best if you leave it alone until you learn the basics.
The Most Popular Financial Betting Markets
Most financial betting sites focus on four categories: indices, stocks, currencies and commodities. While the basic principles apply to all of them, there are a few underlying assets subject to different market forces.
With financial betting, you can bet on how the world’s major indexes will move. An index is a hypothetical portfolio of securities representing a bigger sector or market.
Betting on shares is very similar to the way you’d buy and sell shares on the stock market. The main difference is you don’t actually buy and sell. Rather, you place bets on how the shares will perform. Get your prediction right, and you get paid.
The foreign exchange market is the most actively traded market in the world. You can buy and sell currencies with the expectation that a currency will rise or fall in price relative to another currency.
Currency pairs involved comparing the value of one currency to another. For instance, you can bet on the price of the USD as it compares to GBP.
Commodities are the most basic raw materials that are mined from our earth and grown in our ground, that’s used in commerce and manufacturing. Commodities differ from other goods in that there’s very little if any, difference in the product from one producer to the next.
For instance, a sack of grain is going to pretty much bet the same, no matter who puts it on the market. When it comes to financial betting in this field, you get to predict the future prices of the world’s most primary commodities.
One of the most popularly bet on commodities is gold, and especially so when it comes to spread betting. Here’s an example: a spread offered on the price of gold may be $1,735.1 up to about $1,735.6. So, if you want to bet on the gold price falling, you would go ahead and price a sell bet at around $1,735.1.
But if the price of gold goes up, the spread might soar to anywhere from $1,736.6 to $1,737.1. If you then decide to close your bet, and you bought at $1,737.1, there’s a $2 difference between the price at which you made your bet and the price you closed at. Every $.1 counts as a point, so with this example, you would have lost 20 points, and at £2 per bet, it means you lose £40.
How We Selected Top Financial Betting Sites
The playfield of financial betting sites is not as vast as it is with sports betting or casino gambling. However, there are still quite a few platforms that will allow you to bet on finances, and they’re not all the same. When writing this article, we went on a hunt for the absolute best financial betting sites.
There are plenty of things that we looked into when reviewing these sites, including their reputation, types of bets you can make, available markets, and more. We wanted to give our readers proof that the sites on our list weren’t just randomly picked, and that we had strict criteria for including them. Only if a given site has proven that it’s worthy of your time and money would we give it a thumbs up.
Read on to learn more about our review process!
Licensing and Safety
First and foremost, the best financial betting sites must be legal. They must own a proper licence to operate, so that’s the first thing that we looked for when making the list. Every betting platform must display information about its licensing, together with a licensing number and a link that leads to the registry.
We strongly recommend that you avoid websites that don’t have a valid licence. No matter how legit they look on the surface, and regardless of the fact that they might have plenty of betting options for you to explore, not owning a licence is the first sign of trouble. It means that the operator can do whatever it pleases, and can potentially scam you out of your winnings.
Additionally, we checked the sites’ security protocols. Finance betting involves a lot of money going in and out of the betting site, so the site must employ the latest cybersecurity measures and guarantee safety and anonymity to all its customers.
Top financial sites are well-known brands that enjoy the trust of many of its customers. If a given site has been around for years and has thousands of long-term accounts, that’s usually a very good sign that the site is legit and offers quality services. Scam sites and sites with plenty of bad reviews don’t last longer than a couple of years, so we always give advantage to platforms that have been around for longer periods.
Markets and Betting Options
The best financial betting site must provide its players with a wide variety of betting options and markets. It should cater to both beginner and advanced finance punters, offering spread betting, fixed betting, and binary betting, while also including markets such as indices, stocks, currencies, and commodities.
Players should be able to bet on price fluctuations of gold, silver, Bitcoin, and other currencies, interest rates in the United States, the United Kingdom, and other countries, and more.
We only selected betting sites that have a wide variety of payment methods. Not only should the betting sites allow you as many payment options as possible, but those options should also be fast and convenient.
The most popular payment methods include Visa and MasterCard credit and debit cards, while a certain number of sites also offer cards like Discover and American Express. E-wallets have become very popular in recent years, especially PayPal, Neteller, and Skrill. Since you will most likely be allowed to bet on the prices of Bitcoin and other cryptos, it’s only natural to expect that you can use cryptocurrencies for deposits and withdrawals on the platform itself. Other popular payment methods include prepaid cards, vouchers, bank wire transfers, and cheques.
All the aforementioned options are fast and secure. However, the speed of the transaction can sometimes depend on the betting operator. Some sites put long pending times on money transactions, so we looked to avoid putting those sites on the list. Since you’ll be moving large amounts of money in and out of your account, we made sure that the sites we listed have optimal deposit and withdrawal limits that allow you to deposit and cash out your winnings in one go. Fees can take up a good chunk of your winnings, so we also avoided websites that impose service charges on transactions. However, take note that you still may encounter some fees from the payment service itself.
Beginning to explore the world of finance betting can face you with a lot of questions. Betting platforms are not always intuitive, especially for new players. If you have any questions or are unsure how to perform a certain action on the site, don’t hesitate to ask the website’s customer support.
One part of our review process was to talk to customer support agents and see how quickly they respond. Apart from being responsive, we also asked them some questions typical for beginner players and saw whether they can give us correct and concise answers. By playing on the sites from our list, you will have a 24/7 customer support team at your disposal, ready to help you out at any given time.
How to Get Started With Best Financial Betting Sites
For some, looking at the list of top finance betting sites is not enough. Many of you are maybe left wondering how to even start betting on finance, and that’s why we included a simple step-by-step guide to help you out. Carefully follow these steps and you’ll start making finance bets in no time:
- Choose a website from our list — Before you do anything else, you will have to choose the best finance betting sites for your needs. Luckily, we already did this for you. Simply click on the site from the list above and you’ll be redirected to its homepage.
- Create an account — Once you’ve found the right site, you need to create a real-money account there. Start the registration process by filling out the necessary details regarding your name, email address, country of residence, and more. These details are necessary so that the operator can confirm your identity.
- Deposit — After your account has been created, you will need to put some money into it. Go to the betting site’s cashier page and choose one of the available deposit methods. Type in the amount you wish to deposit and wait for the transaction to be completed, which in most cases isn’t more than a few minutes.
- Start betting — Now that you have some money to bet with, you can start exploring the market options and lay your first wager.
Useful Tips for Beginner Punters
Here are a few things to keep in mind while beginning to bet on finance:
- Choose a bet that you’re comfortable with — Don’t go straight to binary betting if you don’t know the first thing about it. Place some fixed odds bets and learn the playfield from there.
- Study the market — Just like sports betting experts know a lot about sports, you too should know a thing or two about finance. Keep up with the trends by reading finance reports and following the stock market.
- Decide on your bankroll — This tip can be implemented to all types of gambling. To be a successful punter and reduce your risks to a minimum, you will have to establish your bankroll. Figure out how much money you can spend on betting and try not to go over that amount. Never pump up more money into your account as a way of getting your losses back.
When it comes to bringing, you’re the best financial betting sites around, we put a lot of legwork into it. We only recommend websites that have completely met our strict standards and comprehensive guidelines, not to mention high expectations for a quality service. We spend our days going through the different financial betting websites out there to find new ones to review. And we really put them through their paces, from signing up and placing bets to contacting customer support and trying everything out to bring you honest reviews.
To have the most fun, not to mention financial rewards, with financial betting, we highly recommend only gambling at our tried and tested reviewed platforms. As always, you should never bet more than you can comfortably afford to lose and when it comes to financial betting, make sure you do as much research as you can!
Are financial betting sites legal?
All betting sites that we included in our list are legal and regulated. However, this type of betting is not legal everywhere in the world, so you will have to check your country’s laws on online gambling before making an account.
Are these websites safe?
Yes, all the websites that we shared in our list are safe, as they employ the latest security protocols in order to protect your personal and financial information.
What are the most popular financial bets?
The most popular financial bets include fixed-odds bets, spread bets, and binary bets.
What is the most common finance market?
There are four markets commonly seen on finance betting sites. These include indices, stocks, currencies, and commodities.
How old must I be to bet on finance?
Again, this will depend on your country’s laws regarding this form of betting. In most cases, the minimum betting age is 18.
How to deposit money on a finance betting website?
To deposit money, first you must create an account. After that, you need to go to the website’s cashier page and select one of the offered deposit methods. Make sure to understand the rules regarding minimum and maximum deposit limits. Once you confirm the deposit, you shouldn’t wait for more than a few minutes for the money to reach your betting account.
I’ve won money while betting on finance. What now?
If you want, you can keep that money into your account and use it for future bets. If you want to cash out your winnings, go back to the cashier page and request a withdrawal. You will do this by selecting an available withdrawal method and typing in the amount you wish to cash out (you don’t need to cash out all of it). Once the withdrawal request has been clear, the money will be sent to your credit card, e-wallet, crypto wallet, or a bank account.