The Unregulated World of Sports Betting

December 27, 2017 December 27, 2017 Craig Anthony

Whilst you are always going to find more than enough online, mobile and brick and mortar betting sites and venues, there has always been, since the advent of online gambling, plenty of sportsbook and betting sites that are not licensed or regulate in any way.

The reason why those sites still prosper is that there are many countries of the world where people living in them do not have access to any sports betting sites that are licensed by their own governments or the Gambling Commission charged with licensing land based gambling venues in those countries.

Over in the USA anyone who does wish to place a sports bet online is going to find it very difficult to use their debit or credit cards as they way they can fund and online betting site account, and that has led many such people to use digital currencies to move money into and out of offshore based and often unlicensed betting sites.

Some licensing jurisdictions that issue betting site gambling licenses also stipulate that betting sites licensed by them are not permitted to accept customers form the USA and some other countries where gambling online is a grey legal area, and that is another reason why unlicensed offshore gambling site operators are still seeing new customers wandering through their cyber doors and using their betting sites and services.

However, for the uneducated there are going to be way too many risks associated with gambling at any site that does not hold a full and valid gambling license, and I shall now take a look at those risks.

Slow and No Payouts from Betting Sites

One of the dangers that you will run the very real risk of experiencing if you do make the unwise decision of signing up to and then gambling at a betting site that does not hold a valid gambling license and is not properly or even not at all regulate is very slow winning payouts.

It is not unheard of for such gambling sites to hold onto their customer’s winnings for weeks or months or even drip feed those winning payouts to their customers.

In fact, there have always been reports of some betting sites simply refusing to pay out their customers winnings when they do win, and many such sites have suddenly closed down leaving a huge number of people out of pocket.

The one main advantage of signing up to licensed betting and gambling site, is that many of the Gambling Commissions that are tasked with vetting the owners of those sites and overseeing the day to day operation of them insist on customers funds being kept in a segregated bank account.

So in the absolute worst case scenario of a betting or gambling site that is licensed ever going out of business the customers of that site will at least have the peace in mind in knowing their account balances are safe and are going to be returned to them.

Linked Online and Land Based Betting Site Accounts

Over in the UK a quite innovative was of ensuring that betting site customers can access their winnings whenever they want them and in cash has been developed.

That is a way whereby a customer of any betting site that also operates betting shops in the UK has their online betting site account linked up to their land based account, and as such a customer of those betting sites is able to wander into any betting shop and collect winnings achieved from any online bets placed.

Some companies that do operate both online and land based betting shops in Great Britain can issue their customers with a debit type card that allows their customers to be able to always access the cash held in their betting accounts quickly and instantly, or get paid out in cash at any betting shop if they prefer.

Such betting companies also have way in place that will enable their customers to set their own gambling limits too, and as such it is much easier to set your own personal gambling limits at such sites to negate any possibility of gambling beyond your means.

That is sadly something that you will rarely if every find on offer to you at an unlicensed betting or gambling site, as they will simply be after draining as much money from you as they possible can and will have no responsible gambling policy in place at their sites.

About The Author

Craig Anthony

Author

Craig Anthony looks into complaints against gambling companies to ensure our readership is aware of just which gambling sites are complying with current legalisation are those that are not.

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