Below are some of the most obvious warning signs to watch out for. If you've already
bet online and this stuff sounds familiar, or you've been solicited by a
sportsbook with outragous offers similar to those explained below, then you know what you need to do.
1. Age of sportsbook: Newer bookies often struggle with learning as they go or with a lack of capital. Often the former can be overcome when the management is seasoned through careers at other sportsbooks. The former can only be overcome by solid financial backing. Without the latter, a new book has a snowball's chance in you know where.
2. Location & Certification: Online sportsbooks must belicensed and regulated by the nation in which they conduct business.
3. Funds Transfer/Secure Betting: Here's a chilling sentence: "We only accept bank wires." I lose sleep over that one still. But perhaps the most difficult to prepare for and the most insidious of scams is the rogue that steals your
credit card information, goes for a
shopping spree, and never sends you your winnings.
4. Financial Security: Like any business, an online sportsbook must weather the ups and downs of the market's cycles. To do so they always need plenty of reserves. Most of the online sportsbooks are skimpy startups hoping to cash in on an lucky gold mine. And many are outright cash machines, you money goes in, and comes out on their end, and you'll never hear from them again.
5. Bonuses and Promos: Anybody offering bonuses or promotions above a a certain small percentage is looking to hook a sucker. Here's a rule: if it looks too good to be true, IT IS!
Tony
