How To Spot A Scam Sportsbook
Here are some of the most common sportsbook scams and how to avoid them.
The growth of online sports betting sites has been dogged by the explosive growth of it's evil online spectre: the online sportsbook scam. Between these outright corrupt scams and the well-intended sportsbooks that try their darndest but just don't have the financial security or business savvy to make for sucessful operations and happy customers, the number of ripped off online sports bettors has made it necessary for sites like this one to exist to warn bettors: don't bet online!
If you do bet online, be sure to read reviews of tested, trusted sportsbooks written by a team of seasoned sports betting vets, visit www.sportsintensity.com
Below are some of the most obvious warning signs to watch out for. If you've already bet online and this stuff sounds familiar, or you've been solicited by a company with outragous offers similar to those expolained below, then you know what you need to do.
1. Age of Business: Newer books often struggle with learning as they go or with a lack of capital. Often the former can be overcome when the management is seasoned through careers at other sportsbooks. The former can only be overcome by solid financial backing. Without thoie latter, a new book has a snowball's chance in you know where.
2. Location: Sportsbooks must belicensed and regulated by a gaming-friendly nation. Does the Sportsbook do business in a country or location that allows offshore gambling? If so, this may not be enough to protect your money. If not, Run!
3. Funds Transfer: Here's a chilling sentence: "We only accept bank wires." I lose sleep over that one still. Saw eight thousand of my own money go down the drain with once. Never again my friends.
4. Financial Security: Like any other business, a sportsbook must weather the ups and downs of the market's cycles. To do so they always need plenty of reserves. Most of the online sportsbooks are skimpy startups hoping to cash in on an internet gold mine. And many are outright cash machines, you money goes in, and comes out on their end, and you'll never hear from them again.
5. Bonuses and Promotions: Anybody offering bonuses or promotions above a acertain small percentage of your first or reload deposit is looking to hook a sucker. Here's a rule: if it looks too good to be true, IT IS!
Remember: this is a completely unregulated industry, there is no safety net here, no agency to cry to when some online ghost makes off with hundreds or thousands of your hard-earned cash. Do yourself a favor. Just got oto Vegas. It's safe, it's legal, and flights are cheap.