If you are an avid sports-fan, chances are that you have bet on a game or two in the past, either through a government-sponsored betting system, or through a local bookie. With the advent of the Internet, sports betting have been facilitated through online portals, called sportsbooks, where one can place their bets online in the comfort of one’s own home.
As with everything that has been designed to make money quickly and easily on the Internet, there are always people out there looking for a way to swindle the unsuspecting Internet user who appreciates the ease and accessibility of all things on the Internet. In the case of sportsbooks, one must take extra precautions in order to avoid wagering on fraudulent sportsbooks.
First of all, keep your money in the hands of large, reputable sportsbooks. Just like how there are car rental companies that will not rent a car to anybody under the age of 25 because it is assumed that those under 25 do not have adequate driving experience to take good care of the rental cars, one should not place bets on sportsbooks that do not have an adequate history of operations. Sportsbooks that have just come into business most likely do not have the cash reserve to back themselves, and placing bets on these sportsbooks with your money is no different than playing Russian roulette with your life. Reliable sportsbooks are usually associated with other popular websites on the Internet.
Never be tempted by outrageously lavish incentives. If it seems too good to be true, then it probably is. Sinking sportsbooks will throw out a lifesaver in the guise of ludicrous deposit bonuses to make it seem like they are giving away money. However, once someone falls for the scheme and deposits their money into the account, the sportsbook will then use that money to pay out other accounts. Sportsbooks that have plenty of cash reserve do not need to make it look like they have so much money by giving it away.
Never put all your eggs in the same basket. Guarantees rarely exist in life, and no one can guarantee that your money is safe in any one sportsbook. Even if the sportsbook is reputable and has a large cash reserve, who is to say it will not just disappear one day off the face of the Internet? Keep a healthy mix of trustworthy sportsbooks where you can spread out your bets. Just in case something happens to one of them, you still have the others to back you up.
Remember that sportsbooks can be very volatile; therefore, withdraw your money whenever you make some profit. Sportsbooks are not bank accounts where you should keep your savings over the long term; hence, only keep what you need to bet within the account and make sure that you will not be hit hard if you lose all of the money in the account should the sportsbook disappear into thin air one day.