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Online sports betting is the new explosive trend! Millions of people are betting online everyday and saying goodbye at their traditional betting centers. Sports betting online is one of the most lucrative niche nowadays and billions of dollars are achieved this year. That is why, many people want to take advantage of this market. With any new form of betting there are always dangers and pitfalls that you have to look out for. Online sports betting is no exception. Although online sportsbooks have made it easier to bet on all your favorite sports, the internet is riddled with unsafe and unlicensed sportsbooks that are only too happy to take your money and run. It is these cowboys that have made it more difficult for the legitimate safe, regulated and licensed online sportsbetting industry to operate, and they have given the industry as a whole a bad name.That is way, it is important that before you throw your money and bet to any sports betting site, you should first look closely at the online sports betting site you choose. There are a number of criteria to consider when assessing whether to open an account with an online betting site. Here are some of them:
1) Is the sportsbook licensed by a government licensing authority? Their web site should state the country the book is licensed in. If there is no mention of their licensing information on their web site then it is highly probable that they are not licensed by any government agency. Betting with an unlicensed betting outfit is akin to throwing your money away. Also some countries have more stringent regulations, oversee their licensees more closely, and require more funds for them to operate, eg. UK.
2) Is the sportbook using the latest internet security mechanisms? Most reputable betting outfits have highly advanced security on their websites to prevent personal and banking information being exposed and breached.
3) Does the sportsbook allow many depositing options? The sportsbook must have a number of depositing options (must have all the major credit cards and paypal) and preferably accept 3rd party e-wallets such as Neteller and Moneybookers. Using a 3rd party e-wallet service such as Neteller reduces the need to send personal and financial information to every sports betting site you sign up with.
4) Can the sportsbook be contacted anytime? 24 hour customer support by phone and email. Most of the reputable sportsbooks offer 24 hour support by phone, email and online chat.
5) Does the sportsbook incorporate extensive features offering a variety of betting types and competitive odds. Some offer a multitude of betting types and other features such as statistics on all of their betting products. Some may specialize in betting on a particular sport and may offer the best odds for that sport but offer lousy odds on others. For this reason many professional bettors shop around and open accounts with a number of reputable sportsbooks to receive the best deals. I suggest you do this too.
So these are the main criteria I consider when deciding for the best sports betting site to bet. Don’t forget to check this criteria out before deciding. Christmas