The internet has completely revolutionized many industries, and sports betting is no exception. Recent statistics showed that the global sports betting market was worth approximately $76 billion in 2021, and a big part of that revenue was contributed by online sports betting sites.
The main reason why most people prefer betting on sports online is the sheer convenience of it. Individuals can place wagers on their favorite games, from football to cricket to basketball to baseball, and so on, from the comfort of their locations.
However, that doesn’t mean there are no risks to betting online. That is why gamblers should be keen when doing so to avoid being ripped off.
Below are valuable tips on how to participate in online sports betting safely.
- Ensure the Sportsbook Is Licensed
While online betting, in general, is a lucrative venture, it is highly risky. That is why many countries have established rules and regulations that online casino sites and sportsbook platforms must comply with.
One common rule is that sports betting sites should have relevant agencies’ licenses. These platforms’ activities are regularly vetted by having a license to ensure they are not exploiting gamblers.
So, individuals should always confirm if a particular sportsbook is licensed before placing bets on that platform. An excellent way to do so is to check for their license details on their “About Us” section or the “Terms and Conditions” page.
Some of the best sportsbooks even take a step further by displaying their license logo on their websites to assure their customers that they are legal.
- Check If the Sports Betting Site Is Safe
As the online sports betting industry continues to grow, fraudsters are finding more and more opportunities to rip off unsuspecting gamblers. So, online safety should be a top priority when betting on sports online.
Before joining the platform, individuals should check whether a particular sportsbook has a safety feature or two. A common safety protocol many websites use is the Secure Sockets Layer (SSL) encryption.
This safety feature ensures that no unauthorized individual has access to the information gamblers share on sportsbook platforms. So, how does one know if a particular site has this feature? Usually, websites using SSL encryption have “https” at the beginning of their URLs(the link at the top of a site’s page.)
Some of the best sportsbooks use the two-factor authentication (2FA) safety feature. This protocol enables websites to put an extra layer of security to verification processes on their platforms.
So, if an individual wants to log into their online sports betting account, they will undergo a 2-step verification process. The first step will require them to key in their password or PIN. The next authentication step will require them to key in an extra piece of security information, such as a secret word or fingerprint, to gain access to their account.
- Check the Site’s Reputation
While a license is a good reassurance that a particular online sports betting platform is legit, reviews from other people paint a clear picture of what to expect from that site.
It’s recommendable for gamblers to check out reviews about a particular online sports betting website before joining. A good place to start is the customer review section. There’s a good chance other gamblers who have joined that platform have left detailed reviews about their experiences on that site in that section.
Nowadays, there are reputable review sites that write comprehensive and unbiased reviews on various online sports betting platforms. What’s more, some of these review websites also have blocklists of fake or low-quality sportsbooks. All one has to do is google the online sports betting site’s name, and they will find tons of honest reviews about it.
- Be Clear On What You Want
A lot of people go into gambling not knowing what they want. This often leads to them either being ripped off or getting frustrated with the outcome they have from betting.
So, individuals need to be clear on what they are looking for in an online sports betting website. When choosing a sportsbook, some things to consider are the type of sport(s) one wants to place wagers on, the type of bets they want to engage in, whether they prefer live bets, and the payment methods the website accepts.
Considering these and many other factors will help individuals narrow down to their ideal sportsbook.
- Take Your Personal Online Safety Seriously
Online bookmarkers may do all they can to keep their gamblers’ personal information safe. However, if individuals aren’t doing their part, their confidential details may land in the wrong hands.
Individuals should have strong passwords for their online sports betting accounts. They also shouldn’t use the same password and username on multiple websites. And most importantly, gamblers shouldn’t share their passwords with anyone.
- Practice Self-Discipline While Betting
Safe online sports betting doesn’t only involve being on the lookout for scammers, but it also involves being self-disciplined. Individuals shouldn’t let their emotions get the best of them when betting.
Typically, many gamblers bet out of bitterness from losing a specific bet or pride from winning. Unfortunately, they end up losing most, if not all, of these wagers.
It is recommendable for individuals to do as much research as possible before placing any bets to increase their chances of winning.
Gamblers should also have a limit when it comes to betting on sports. Individuals should limit how much they’ll spend on betting and how much time they’ll spend betting. This will significantly prevent them from developing a gambling addiction.
Sports betting has enabled individuals to enjoy watching their favorite sports and stand a chance to win good money. And thanks to the internet, gamblers can do so from the comfort of their locations.
But like any other type of online gambling, it also has its fair share of risks. So, individuals need to be extra careful to avoid being victims of fraud.