Sportsbooks Legal Requirements – Completely Segregated Customer Funds

December 19, 2017 December 21, 2017 Claire Aleman

One part of gambling online that every punter will have put some thought to at one time or another is in regards to the safety of their funds.

Whilst it doesn’t matter if you hold some large amounts of cash or even a modest amount of cash in your betting site accounts, as an online gambler you will always want the peace of mind in knowing that you funds are safe.

That is something that many Gaming Commissions and Licensing Authorities have put great thought to recently and many of them now require all sites that are one of their license holders to ensure that at all times their customer accounts and deposited funds are held safely and securely.

The way in which they are forced to do so is to keep their players funds in a segregated bank account, and that way they are not going to be accessible to the site owner and will be kept away from the general day to day running costs and bank accounts associated with those sites.

Therefore as someone who is concerned about depositing money into a betting site the best course of action you can take is to ensure the betting site you sign up to is both licensed and does keep their customer funds in a segregated account.

You can also take some precautions as someone who does gamble online, one way to do so is to keep your deposits to a minimum and also spread your money around several different betting sites, that way you will not be putting all of your eggs into one basket so to speak.

The way that you make a deposit could also offer you some protections, for example if you use a credit card that does permit their users to utilize a credit card at a gambling site, if your funds for some reason are abused or stolen then you will possibly have the protection of the credit card company.

Try not to keep very large amounts of cash in betting sites account is another tip I can pass onto you, and also opt for a site that offers their customers instant withdrawals, and always make a withdrawal once you have finished gambling for the day.

By doing so if you do not get paid out your winnings instantly, to for example a web wallet or e-wallet account then that is a red flag that you should proceed with caution at that betting site and never make any additional deposits there.

At the end of the day though you do need to trust your instincts when gambling online, and as long as you do ensure the sites you are gambling at do hold a full gambling license, and one that has not been issued by one of the less well regarded gaming commission you will never have to worry about the safety and security of the funds that you hold in those gambling site accounts.

About The Author

Claire Aleman

Author

Claire Aleman has been with us from the start and is passionate about fair gaming, and asking those in charge very challenging questions, and questions they tend not to want to be asked.

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