How to choose a good online bookmaker
Sports betting is popular all over the world, with more and more countries introducing legislation and regulation to legalise online wagering. Over the past few years, we’ve witnessed multiple US states open their doors, and they’ve been joined by countries in South America, among other places.
The best bookmakers in Chile are eagerly awaiting the Ministry of Finance’s proposed bill to bring in regulations, which will strengthen that market too. All this has led to a wave of new customers wanting to get in on the action. However, if you’ve never placed a wager online, how do you know a good online bookmaker from some rogue outfit looking to scam you?
Let’s have a look at some of the traits that the top sportsbooks share, which will help set you on the right path to choosing a solid operator that suits your needs.
Licenced and regulated
First and foremost, you want to bet with an online bookmaker that is licensed and regulated. Betting sites that hold licences from reputable governing bodies offer a safe and secure environment for betting online. Their sites have industry-standard security features, so customers know that their cash is safe and their financial information cannot be hacked when making payments.
Customer-friendly bonuses and promotions
If you’re searching for your first online bookmaker, it’s easy to be swayed by sportsbooks offering the biggest bonuses. After all, 100% up to $500 sounds better than 100% up to $100, right?
Don’t be fooled by the face value of an offer – look at the terms and conditions to find out what you must do in order to convert this bonus cash into real money. It could be that the terms for the smaller bonus are friendlier, which means the customer stands a better chance of making a profit. An extra ten minutes of research in this area can really help your bankroll further down the road.
Competitive odds
Bonus offers are great, but everyday betting value comes from the bookmaker’s odds. As a bettor, we want the highest returns possible on our winning tickets, and the top bookmakers typically provide this. Of course, there are betting exchanges, which are a peer-to-peer system of betting, and these tend to offer the lowest margins, but in recent years, sportsbook operators have begun to rival these sites, which is fantastic news for customers.
We should point out that certain bookmakers specialise in specific areas, so it depends on your favoured sport as to which site is right for you. Our recommendation is to use an odds comparison website that provides the prices from a variety of bookmakers for a specific market. This will help you find the perfect site with the highest odds.
Payout times
Good online bookmakers don’t mess around when it comes to withdrawing your winnings. In the past, some sites had a ‘pending period’ which was the time between a customer making a withdrawal request and the operator processing it. The best sportsbooks don’t drag their feet like this. They process withdrawals within 24-48 hours, so customers get their cash faster.
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