How to Differentiate Between Genuine and Fake Sportsbook Websites
May 25, 2017
How to differentiate between genuine and fake sportsbook websites?
Sportsbook websites like agen judi bola attract millions of enthusiasts across the world. It is one of the most popular online entertainment options for online gaming fans. Taking advantage of the popularity and huge fan following fake sportsbook websites have spawned on the Internet. The sole intention of these sites is to dupe unsuspecting victims and make quick money in the process. Sportsbook enthusiasts have to differentiate between the fake and genuine and only use sites that are legitimate.
How does someone differentiate between a fake and a genuine sportsbook website?
There are several ways in which one can differentiate between a genuine and fake sportsbook website. We have listed some of them here:
The site should have hundreds of reviews on the Internet and most of them should be positive. The reviews should not be one line reviews but genuine reviews from players who have played on the site. Comment on a couple of reviews and wait for the response.
The site should have a trial version where users can polish their skills. Practice for at least a week before placing real bets. The strategy is to become comfortable with the process before placing actual bets. It will also give an idea of the site features also an idea of whether the site is genuine or fake.
Start with small bets in the region of $10-$15. Apply all the common safeguards that are suggested while placing bets. Decide on a maximum amount for placing bets and do not overshoot it under any conditions.
Whenever you hit the jackpot, the funds should be credited to the bank within the defined time. This will prove that the website has efficient and automated back-end operations.
Check the “Alexa” ranking of the website. A ranking less than 1,000,000 is a good measure to confirm that the site is attracting traffic and it is a credible website. The Alexa details also provide information about the volume of traffic that the website attracts from different countries. It also gives an idea of how much time users are spending on the website.
If all the above checklists are followed then there is less chance of being defrauded. In the worst case of being defrauded, lodge a complaint with the Internet Crime department in your country. It is difficult to recover the money as most of these organizations are fly-by-night operators who have their operations in some distant country. Reporting the issue will alert the authorities and help them to either detain the fraudulent operators or shutting down the website by blocking their website.
The challenge to prove credibility for a genuine new sportsbook website is tremendous. Credibility is built over time and it requires dedicated effort on part of the owner and the white label sportsbook solutions provider. A new sportsbook should be listed in industry publications in both the online and print media. Positive reviews and comments from famous faces in the industry should also help a website to gain credibility and attract more betters to the website. It will generate revenue for the website and enable users to bet with confidence.
Regulatory Challenges in Running a Sportsbook Website
December 20, 2016
Many countries including US have banned online gaming by a law passed by the Senate. Therefore all online gaming activities including running a sportsbook website out of US soil is banned.
What steps should an operator take to overcome such regulatory hurdles?
The strategies suggested below will help sportsbook operators to overcome some of the regulatory challenges
Starting a White Label Sportsbook operation based out of countries like Costa Rica, Isle of Man, Bermuda or Mauritius is the best option. These countries have liberal sportbook and casino laws as well as friendly tax laws. The sportbook entrepreneur will be able to retain a bulk of the profits if the operations are based out of these countries.
A White Label operator will generally have operations out of tax havens and countries that have liberal gaming and casino laws. However, a sportsbook entrepreneur will have to be clear on gaming and casino laws in their country of operation. An experienced lawyer should be hired to get all the necessary regulatory approvals.
A sportsbook entrepreneur should have a lightweight operations model with operations managed by a white label sportsbook operator. In this way the entrepreneur will only have to focus on marketing and the regulatory environment prevalent in the country.
Online sportsbook including is a lucrative business and there are thousands of players operating in various countries. However, many countries have still not legalized online sportsbook operations because of political, cultural, religious and other factors. Even a liberal country like US was forced to ban online gaming and sportsbook because of political and social considerations. Therefore it is important for a sportsbook entrepreneur to check all prevalent laws and any new laws that may affect the business operations.
The repatriation of funds from the payment processing country to the operating country can also become a hurdle. A sportsbook entrepreneur should check the prevailing banking laws in their country and ensure that there should be no hurdles in moving funds back to their country.
It is important to note that online sportsbook is completely transparent and legal business in countries where it is regulated. It is suggested that sportsbook entrepreneurs should not circumvent the law and try to launch operations in countries where online gaming in not legal. There have been instances in US where some of the largest poker, sportsbook and online gaming operators had to pay large fines to the Government for running their operations after the law was enforced. These companies have spent millions of dollars in lobbying with the US Government unsuccessfully.
Companies like Party Gaming which used to earn millions of dollars in revenue from the US market had to withdraw. Many of these companies have navigated the regulatory hurdles quite well by moving their operations to other locations where online gaming is legalized. In the process they may have lost millions of dollars in revenue but were able to come out of the regulatory challenges successfully. White Label sportsbook operators should always be aware of laws and regulations before launching operations. Once the operations are launched, you will want to focus only on your business rather than dealing with regulatory authorities.