Online betting is any type of betting conducted over the internet with no real-life representation. This includes casinos, online poker and online sports betting amongst many others. The first online betting venue opened for the public, was Ticketing at the Waldorf-Astoria in New York City in October 1994. It was followed by a service called Betfair, which was soon to become the worlds largest online betting exchange. These days there are literally hundreds of online betting exchanges providing the opportunity for punters across the world to place their bets.
Online betting venues provide gamblers with the opportunity to partake in a wide range of betting types from the most traditional ‘bookie’ type to the more modern fast payouts provided by an online sportsbook. Traditional bookmakers rely on a group of punters to bet on an array of games which can either be live or non-live. This typically requires the payment of commission and fees to the bookmaker. A traditional sportsbook, operates almost exactly the same way, online sportsbooks operate in much the same way with the addition of fast payouts and convenient bonuses and special offers.
An online sportsbook allows punters to place bets on specific sporting events which are usually held in a different country or hemisphere. UK has the biggest number of online sportsbooks with the US following close behind. In comparison, the US only accounts for about ten per cent of the entire world market and just two per cent of total betting transactions. So how do online sportsbook services differ from each other?
Online sportsbooks offer different betting options for a variety of different sporting events. A typical sportsbook will have one or more sportsbook sites with a combined maximum limit. This means that you will only be able to bet on one game or event using your credit card/ debit card. Sportsbooks also offer a ‘dummy’ or single sport betting as well as ‘double’ sport betting and point spread betting. So if you want to bet on a particular game but not on every single game taking place, then you can do it by simply signing up and choosing a different sport or simply by selecting a different game to place your bet on.
Another obvious difference between an online sportsbook and a bricks and mortar location is the betting cap. The sportsbook at your brick and mortar location will always allow you to bet maximum five dollars per game. Sportsbooks online however will let you bet no less than ten dollars per game and most times they will allow you to bet over a maximum of two hundred dollars per game. In comparison, this is a significant decrease in the amount of money you could be spending on your betting activities.
Online sportsbooks will also often offer promotional codes for customers in order to encourage people to place their bets with them. Some online betting sites will even offer free money when a customer bets with them using a promotional code. These codes will often be given out once a customer deposits money into their online sportsbook account so remember to use them whenever possible. This will ensure you always win and that you will be able to withdraw your winnings if ever you lose a bet.
As mentioned earlier, online sportsbooks differ in the way they handle their customers’ finances. Many have chosen to implement banking options such as online banking so you can keep track of your bets and winnings with ease. Some prefer to maintain a separate bank account for customers so that if they win a bet and spend money from it, they are able to cover their costs without being restricted by how they spend their winnings. This means that you are able to keep all of your money within your account and does not run the risk of having your account frozen until you clear your debts. If you prefer to keep all of your money within your online sportsbook account, it is important that you choose a sportsbook that has the ability to integrate your preferred bank account so that you do not need to take extra time setting up your online betting system.
Online sports betting sites offer a variety of different betting options. Depending on what type of bet you are interested in placing, you can bet on regular sporting events, basketball, baseball, football, tennis, golf, and horse racing among many others. Some online sportsbooks also offer special betting sections where you can bet on college games, auto racing, European soccer matches, and even the upcoming US election. If you want to place bets that you cannot be sure of, live online sports betting is an excellent way to be successful. This will ensure that you win more than you lose since you will never be held back by what is happening outside of your home.