Is Online Betting actually safe? This question gets asked around a lot, and the answer is that it is safe, provided you take certain precautions before starting out on placing bets with your favourite sports team. It is ultimately down to you to ensure your own safety.
While it cannot be denied that betting online with real money carries risk, the rewards of online betting are equally undeniable. There is the risk of losing money because you lost your wager, along with being duped by illegal bookmakers or cyber criminals. There are plenty of gamblers who have earned a substantial amount through online betting, by utilizing Free Betting schemes and bonuses.
We’ll look at some of the most common safety concerns in online sports betting and how to avoid them.
- Getting cheated out of your money
This is perhaps the most common safety concern in online betting. A simple Google search for online bookmakers will throw up thousands of results and leave you spoilt for choice. There have been several betting sites guilty of some or all the following actions:
- Disappearing with customer funds
- Not paying people who won their wagers
- Refusing to pay withdrawals
So how do you stay safe? Only open an account with sites that adhere to the following
- Licensed and regulated by a governing body
- Reputed business in existence for several years
- Positive reviews online from gamblers
- No negative mentions online or in the media
If a site is regulated and licensed, it is accountable and less likely to be fraud.
- Cyber criminals – Personal Data and Money Being Stolen
The risk of your personal details being sold is easily avoided, as you just need to use one of the licensed betting sites. They won’t sell your email address to other companies that will spam you using the data sold to them. Then there is the risk of hackers getting into the bookmaker’s online betting service and stealing your money. These are ways in which you can minimize the risk of data theft while betting online:
- Install an anti-virus software
- Use strong passwords for your betting account
- Do not share your account details with anyone
- Change your credentials at regular intervals
- Breaking the law if online gambling is illegal in your country
There are some countries where online betting is deemed illegal. Although the bookmaker may be based out of a country where betting is legalized, as the end user, you run the risk of breaking the law in your own residential country. So it is always advised to get clarity on this before jumping on the betting bandwagon, even if Free Betting is an attractive prospect.