Today’s Online Betting Offers: Are They Too Good To Be True?Sports | July 27, 2020, Monday // 08:00| views
The concept of “too good to be true” has now reached online betting, and for those who have been into the scenario of not getting what they want before, this prompts them to take extra caution. For beginners, they are easy to fall into the trap of something that’s “too good to be true,” or earnings or opportunities that seem easy to accomplish but will have issues right along the way.
Before placing your wagers in the fields of online casino, betting, and jackpots, it is important to become aware of the pointers of whether these are great ways to earn.
The competition has gotten so stiff that considering the landscape of several betting sites, what you can do to succeed is to take a look at comparison websites that have endless lists of betting offers and free bets in order to attract new players.
In this edition of the post, you will be enlightened on betting offers and why there are individuals who think they are “too good to be true.”
Betting offers: Everything you should know
Betting offers or free bets include bookmakers offering their customers free money. It is a game and the opportunity to bet with lesser risks, and after which, the chance to get paid out and win. Of course, the road to winning involves compromises, risks, and quite more others.
Free bets are different from regular bets in such a way that the wagering person does not contribute to the stake, and this is not refunded should your wager wins. Online betting has several reputable bookmakers who offer free bets to let you get started. What usually happens is, the person qualifies for these free bets once they sign up for a new account with their preferred bookmaker.
There are techniques to increase your chances. First, you can double the bankroll. Second, you can hedge your bets or utilizing the free bet to produce the hedge. Third, you can also turn the free bets into cash, and is known as “match betting.”
To elaborate, here are the types of free bets and online betting you must know:
Risk-free bets -Bonuses not credit as you sign up, and only returns to you when the first bet loses
Matched free bets - Either the matched deposit variety of free bets or the matched wager, written in the T&C’s from the offer
Matched deposit bonus - The preferred scheme for casino free bets, but are also present in sports betting websites
Free bets, no deposit - In here, there are no upfront deposits required, however, few groups are offering these nowadays
Profit boost - Involves particular bookies that boost your winnings by a specific percentage; available on both single and multiple bets
Enhanced odds - Popular in sports betting
What the regulations say
It is important that betting offers and promotions have terms and conditions attached – as bookies can’t afford to give away free money. However, these terms and conditions must be fair and transparent.
All betting sites available to play in the UK should be licensed by the UKGC (the UK Gambling Commission). This regulatory body is known to be one of the strictest in the industry. As such, it has very specific rules on how gambling companies can market bonuses and how fair their T&Cs are.
The most important rule is that the betting company clearly and promptly communicates its betting promotion terms and conditions. So, they should be easy to access and easy to understand. This means, you should have all the information you need to decide that the promotion is right for you before taking up the offer. The promotions should also allow you to leave at any time with the remainder of your deposit as well as any winnings from your initial deposit. You should also be able to be able to see clearly whether you are playing with your money as opposed to bonus funds. Ultimately, you should know exactly what you are signing up to and you should be able to change your mind without losing your deposit.
The MGA (Malta Gaming Commission) however, doesn’t have such stringent rules. It doesn’t place such specific regulations on the terms attached to promotional offers in comparison to the UKGC. Other European regulatory bodies, such as the Bulgarian regulatory body, are still in the process of developing legislations and still have some way to go. So, if the bookmaker is licensed by the MGA or any other European entity, and not the UKGC, then you need to be more vigilant and check out the terms and conditions carefully yourself. However, if you are betting on a UKGC gambling site, you can rest assured that the T&Cs are fair and clear.
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