Ask an Expert

Questions Answered by Our Experts

• Can the odds offered by a bookmaker vary?
  Yes, the betting odds offered by bookmakers will always vary. That’s because betting sites use their systems to set the odds, and we have to consider the markets’ liquidity, which will significantly affect how aggressive the odds movements are. That’s why having accounts with multiple bookmakers and always price-shopping before placing bets is important. In other words, comparing the betting odds several bookmakers offer to find the best price is essential.
• How does the bookmaker pay or receive payment when I win or lose a bet?
  Bookmakers pay out money to punters who win their bets and take the wagered money from bettors who inaccurately predicted the outcome of the games they bet on. The concept is straightforward, and the transactions from and into your betting account happen instantly. When betting with soft bookmakers, you’re essentially betting against the house, which will take or pay out money. In contrast, on betting exchanges, you’re betting against other punters.
• What happens when a game (match) is abandoned before the end?
  If the match is abandoned before the end, the wagers made on that match will be settled based primarily on what kind of bet was placed. Bets that have already been determined before the end of the game (half-time betting, quarter betting, some proposition bets) will stand. On the other side, asking the same question related to moneyline (or 1×2) bets has different answers, but it depends on the rules set by the bookmaker you’re using.
• How do you win football bets every day?
  Those who expect to win bets daily will be disappointed, as it’s impossible. However, that doesn’t mean that making money with betting is not possible. With any betting, we must thoroughly research the games, players, and teams, as this is the only way to make educated bets. But it’s even more critical to use bookmakers who offer the best odds on the game you want to bet on – which will increase the long-term profitability of your betting endeavor.
• How do I make a complaint against a bookie?
  If a bookmaker has done anything you, a punter, consider wrong, the best first step is to contact the business directly. That’s possible through email or live chat, where you can reach customer support. If that doesn’t resolve the issue, there’s a more drastic step. While it’s rare that punters will ever have to go beyond contacting the bookmaker directly, it is possible to submit a complaint to the gambling licensing body that issued a gambling license to the betting site. A less drastic step would be to contact the Independent Betting Adjudication Service (IBAS), which resolves disputes independently.
• Is it legal to use someone else’s login details or credit card?
  No, using someone else’s login details or credit card is illegal, especially the credit card. However, it’s unlikely that the bookmakers will prosecute those who do. Bookmakers have systems in place to spot players who use someone else’s login details, so with enough time, those who do it will get caught eventually. In such cases, bookmakers typically close down accounts.
• Why has a betting site asked for photo identification, and what is the verification process?
  All licensed bookmakers have to follow a certain set of rules and regulations, including providing the Know Your Customer (KYC) verification. KYC verification is used to battle money laundering and help bookmakers identify users. So, while it may seem like the bookmakers asking for your documents is a breach of your personal information, they’re required to do so by betting regulators. Worry not, however, as all details you provide to the betting site will remain safe.
• Do I have to pay tax on my betting winnings?
  There is no clear answer to whether you have to pay tax on betting winnings. That’s because the rules differ depending on your residence. In most countries, there is no tax on betting winnings, especially in countries where sports betting is still developing. For example, Austria, Belgium, and Australia have no gambling tax, whereas the UK has a gambling tax.
• How to cure gambling addiction?
  Gambling addiction, while it may sound less harmful than other forms of addiction (alcohol, drugs), can be just as detrimental to any individual. And while gambling sites are actively working on spreading awareness about it, gambling addiction is still a very prevalent issue in our society. While there is no easy way to cure a gambling addiction, the best first step is to go to therapy or contact a self-help group. However, for most with mild gambling addiction, it’s usually enough to limit your exposure to gambling sites.
• Do sportsbooks charge registration fees?
  No. No bookmaker will ever charge a registration fee, as this is not a sustainable way for the betting sites to make money. Bookmakers make money by setting odds lower than what they believe are fair odds. So, they do not need to charge anything extra, including the registration fees.
• How do we avoid errors made by bookmakers?
  Bookmakers, like any other business, regularly make errors. Those mainly concern setting the wrong odds on any match – granted, those are more common in lesser leagues and competitions. If a bookmaker sets the wrong odds, the punter will never benefit from it, as the betting site can reverse the odds and change the odds at which you’ve placed your bets. So, it’s best to avoid markets with clear errors, especially considering bookmakers flag accounts that exploit their mistakes.
• Still have questions?
  Ask our experts

  Sign up & get answer(s) Get answer(s)