How to Identify and Avoid Betting Scams

Betting is a multibillion-dollar revenue business that increased exponentially in the last decade. While some punters bet for fun, others are professional gamblers who make a good living from gambling. However, with daily large sums of money transactions between the bookies and the bettors, betting scams have become more versatile. To protect your identity and money, I will unveil the modern-day betting scams and how to protect yourself from being tricked.

Research bookmakers from various sources

Being a very profitable business, more bookies joined this market through the years. While some bookmakers have been in the game for ages, others entered the market recently using a lot of advertising to attract customers and close the gap towards their established competitors.

Still, before opening a new betting account, you should research in detail the betting company to avoid being scammed. The bookmaker’s history, holding a valid operating license and details of the owners are important information you need to obtain from reliable sources before opening a new account.

History

The history of a betting company is important because it will give you details regarding any problems reported by the law, customers and other relevant authorities. Use reliable sources of information such as Wikipedia to find key details like:

when was the betting company founded
is the bookmaker licensed and operates legally
who owns the company

Furthermore, read reviews on trustworthy sites regarding the betting company to obtain general information on how the bookie treats its clients. Here you will find what type of customer support a betting company provides to their clients and how the queries are handled. To put it simply, reviews are a mirror of how the bookie cares for its punters.

License

Every betting company that operates legally holds a valid license regulated by the relevant authority. This holds for both…

Source link : https://www.soccernews.com/how-to-identify-and-avoid-betting-scams/371912/

Author : Stefan Budur

Publish date : 2024-05-28 12:38:49

Copyright for syndicated content belongs to the linked Source.