The Dangers of Gambling at Unregulated Sportsbooks

January 20, 2018 July 20, 2018 David Nugent

I think today would be a good day to give you a timely reminding of the many very real risks you are going to be taking if you make the mistake of signing up to and then gambling at a sportsbook that doesn’t hold a full and valid gambling license.

Many punters are going to be tempted into gambling at such a site by some generous bonuses and promotional offers they will be offered and could also find such sites are offering huge odds on whatever it is they are thinking of placing a bet on.

The obvious reason for high valued bonuses, free bets and promotional offers and generous odds given away from such sites is of course to get punters to part with their cash and make a deposit into such a site.

However, by doing so those punters are then going to be at the mercy of the people running an operating those unlicensed Sportsbooks and there are never going to be any guarantees they will be run and operated to the very highest of standards.

You only have to do a simple Google search to find out that many punters each day of the week do get ripped off by such sites, and below I will enlighten you on what the risks are of being taken in by and depositing and then gambling at any sportsbook that isn’t licensed by any Gambling Commission or Gaming Authority.

High Cost Deposit and Withdrawal Options

The problems that many people do have if they wish to place a bet online or via their mobile devices as opposed to visiting a land based brick and mortar sportsbook is that many countries do not permit their citizens to gamble at such sites.

Whilst in places such as the US all banking institutions have to, by law, block any transactions into offshore based gambling sites including online Sportsbooks, so many gamblers cannot use a cost effective way of depositing, such as using a debit or credit card.

So when they do fancy betting online the only option usually available to them is a high cost one and one that will see them have to pay all manner of fees and charges such as when using Western Union or the MoneyGram service!

The danger of using such a service is that you are sending your money overseas and have no way of getting it back if that gambling site you have sent money to lets you don in any way.

When using a debit or credit card if you do end up getting ripped off you can always dispute those charges or perform a charge back and get your funds returned to you, which is something you are never going to be able to do when using  money transfer type of service.

If you do actually find a reliable unlicensed betting site, then if you in and want to get paid out your winnings you are then going to be faced with some hefty fees for doing so too!

Slow and No Payment of Winnings

The biggest danger you will of course face if you make the mistake, which quite a lot of people do, of signing up to an unlicensed betting site is that the one you are betting at may not actually pay you out your winnings when you win!

They will of course let you happily deposit with no problems but will then simply refuse to pay you out your winnings or will drag out paying you your winnings over weeks, months and in some extreme cases even years!

You will never be able to complain to any third party in an attempt to get your winnings paid out to you, for unlike licensed betting sites that have a dispute system in place hereby punters can get their complaints addressed an unlicensed betting site can do what they please!

Therefore if you are thinking about gambling online then you really do owe it to yourself to make the conscious decision of only ever signing up to a gambling site that does hold a full and valid gambling license.

If you get lured into signing up to and gambling at a site that isn’t licensed through high valued betting odds or overly generous bonuses you do stand the very real risk of being ripped off in one way or another! All licensed gambling sites by the way display their gambling license details on their website.

About The Author

David Nugent

Editor

Hi, my name is David and I am the chief editor of legalbettingreport.com, I am proud to bring you all latest legal matters concerning the sports betting industry , I am a keen sports fan, dabbling in a few odd bets on my beloved Everton FC

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