Based on the latest online sports betting report from Statista, the number of punters on the internet will rise to 182.5 million by 2029, and the average revenue per user (ARPU) might hit around $327.20 million by then.
So, it looks like online sports betting isn’t just a trend anymore. It’s something that’s here to stay. After all, it’s the most convenient way for anyone to place their bets on any sport. But since it’s a rising industry, those who are still trying to find a trustworthy online bookie might easily feel overwhelmed.
A quick Google search of the best online bookies alone would give you countless options, so if you’re new to the whole thing, you might not have a clue on where to even start.
So, to help, we’re sharing what you should know about what could make an online sportsbook a winner - at least in your books.
Advantages and Possible Disadvantages of Placing Bets Online
If you’re still considering placing bets online, it’s understandable if you still feel a bit iffy about it For many activities, transitioning online can make you have doubts. But like with many other things, betting online has its fair share of advantages and possible cons.
Advantages:
Convenience: Thanks to online bookies, you can now place bets from the comfort of your home or even on the go as most sports betting sites are mobile-friendly.
Variety: When betting online, you get access to a wide selection of sports, leagues, and betting markets which often exceed what's available at in-person bookies. Also, you can easily hop from one bookie to another.
Bonuses & Promotions: Online bookies offer some of the most attractive bonuses and promotions to boost your bankroll. So, if you want to get the most out of your betting budget, you should consider placing your bets online.
Possible Disadvantages:
Risk of Addiction: Since you get 24/7 availability of betting odds, we can’t deny that it increases the chances of you getting addicted to online gambling. So, be mindful about this, and don’t be scared to seek help when needed.
Security Concerns: While reputable sites employ safeguards, there's always a risk of cyberattacks and data breaches. So, always make sure you choose a legit online bookie.
Lack of Social Interaction: Online betting lacks the social atmosphere of physical betting shops. If that’s something you enjoy, you might not experience the same thrill online. Unless, of course, you join an active online betting community to talk about your wagers.
Delayed Withdrawals: Cashing out winnings might take longer compared to in-person transactions. We say might because many online bookies offer instant payouts. However, instant cash outs may come with fees, so always review your online transactions before completing them.
Most Important Factors To Consider When Shopping for an Online Bookie
While those pros and cons give you an idea of what you should look for when choosing an online bookie, there are still more things to consider. Here are the most important ones you should focus on:
License and Security
The foundation of any reputable online bookie is trustworthiness and security. You need to be confident that your personal and financial information is safe and that the platform operates with integrity.
Look for bookies licensed and regulated by recognized authorities such as the Malta Gaming Authority or the UK Gambling Commission. Having a license means they are adhering to strict standards of fairness and player protection.
You should also check for SSL encryption and other security measures implemented on their websites. Reading reviews and testimonials from other punters is also a great way to gauge a bookie's reputation.
Competitive Odds and Wide Range of Markets
A great online bookie offers competitive odds across a diverse range of betting markets. But you should always compare odds on different platforms to ensure you're getting the best possible value for your bets.
You’ll surely want a bookie offering a wide selection of sports and events. You may also want to check if they have different bet types available (pre-match, live betting, prop bets, etc.).
Betting live on sports matches to win with 10CRIC and other sportsbooks can also be fun. Many platforms now offer this. It’s ideal for those who want to take their online betting experience to another level.
Banking and Payout Process
This mostly has something to do with convenience. You’ll want an online bookie to process your deposits and withdrawals efficiently. Thankfully, all (if not all) online sportsbooks process deposits instantly.
But withdrawals are a bit of a different story. Some bookies may take time to process payouts, but many of them would do this instantly. Generally, expect that your first payout can take a while to process because you might need to complete a platform’s KYC.
That’s to ensure that the gambling winnings will go to a real person who is of legal age and is allowed to gamble in the first place.
Conclusion
What’s great about betting online is that you get to shop for the best betting odds. So, even if we talked about what makes a great online bookie, know that you don’t have to settle for just one of them.
It might be ideal to join multiple bookies to ensure you get the best betting odds when you’re ready to place your bets. What’s most important is that you choose reputable platforms and that you bet responsibly.
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