Although online gambling and sports betting was already a popular pastime, with the advent of the 2020 Covid-19 pandemic it took on a life of its own and the reported numbers of new online gamblers spiralled meteorically across the world.
Naturally the online gambling sites were rubbing their hands together in glee, but as well as legitimate sports betting sites profiting from the global crisis, the scammers and less-scrupulous betting sites were also having a field day.
Welcome Bonuses
The Good
One method that online gambling sites use routinely to attract new customers is offering an enticing ‘cash’ bonus for opening an account. Many are totally above board, with realistic expectations of clients benefitting and are offered by reputable licensed operators. The Betway welcome bonus is just one example of a genuine offer with fair and reasonable terms and conditions attached.
Unfortunately, not all operations are playing quite such a fair game and although most bonuses are not outright scams, they can be worthless. Basically, they often rely on the fact that humans are greedy by nature, with a tendency to only see the big fat $$$ and not the small print underneath; which is where the problem arises.
The Bad
All bookie bonuses will have wagering requirements, which is expected; but there are other ploys. Let’s say you sign up for a $200 bonus and use $20 of it to place your first bet, which just happens to net you a substantial win. You decide it would be nice to withdraw $100 and treat yourself. However, when you return to your account, your expected $180 bonus balance has now disappeared. That’s because you missed the fact that in the ‘Terms Apply’ part, it states no withdrawals until you have used all of it.
The Ugly
Other ways to mislay your bonus include betting on the wrong odds, not using the bonus within the required time scale, not fulfilling the wagering requirements (which can vary from a very reasonable 3x up to an almost unachievable and colossal 40x) and finally, trying to withdraw any winnings before you have wagered an amount from your own money that is equivalent to the original bonus amount.
Our advice
We do not wish to detract in any way from your enjoyment of online gambling, but sometimes it is better to forget bonus hunting entirely and to concentrate on finding a bookie that consistently offers plenty of different sports, great odds and other benefits instead.
Other Scams
Online betting scams are happening across the world and take on many forms. Whilst some are easy to spot, some are highly sophisticated and much more believable. One example is targeting online chat and dating apps, where your new ‘friends’ convince you to sign up with a betting site and then conveniently disappear, along with your cash.
Technology is good, really!
Not all technology is a bad thing of course, horse racing has benefited immensely from it and it has radically changed the enjoyment of numerous sports betting fans by providing instant access to vital information with just a click of the mouse.
Final Thoughts
There is absolutely no reason at all to avoid sports betting online, or to not make use of a valid bonus opportunity. It is just a matter of using due diligence and taking time to read the small print before you jump on board.
Knowledge is power and we hope that by making you aware of some of the pitfalls you could encounter whenever you are online, you will have sufficient information to avoid them and keep yourself safe.
