Sports betting – the activity of predicting sports results and placing a wager on the outcome- used to be illegal until recently. In the past, bettors who want to wager on their favorite sports team in a F1 racing or a horse racing … had only 2 options: black market sites or corner bookie. Both of them are illegal and of course, risky as players can lose all their money if dealers refuse to pay. Thus, it is evitable that bettors should wager at legal sports books which are either regulated by a state’s gambling or lottery commission. There are two primary methods for bettors to place wagers: at land-based venues or online.
Land-based facilities may include: commercial casinos, tribal casinos, racinos, horse racing tracks, and even select OTB parlors and retail facilities, at which, bets will be made at a cashiering window or via a kiosk. Online wagering might be a website or an application which is more convenience for bettors.
Although illegal sports betting might offer higher odds, legal sports offer higher level of safety to players’ assets as the following:
Safety of funds
Players can rest assure knowing that their fund is regulated according to the laws and regulations governing the industry. Bettors that deposit on trusted sports betting sites get their funds secure while players on black market sites or independent bookies have no clue who would held responsibility for their money.
Although legal sports betting sites requires you to provide information such as ID number and banking information to confirm your identity, your information is safe from leaking to the third agency. Moreover, by collecting information of all players, the authority might prevent illegal activities that might severely affect other players. Black market sites, on the other hand, have little concern and incentive to protect a players’ identity.
Illegal betting sites are established with the primary goal of benefits, so they might do anything to refuse payment, even in unethical way. Bonus structures are set up so that players have little chance of withdrawing their funds. They might say the lines are actually different from what’s displayed on the site.
Players on legal sites are protected by the law which requires that all terms to be listed on the site and that any changes need be explained to and approved by the state’s regulatory agency.