Online betting is any kind of betting conducted over the internet by way of your mobile device, tablet, desktops or any other device that lets you access the internet.
Online betting is divided into three major subsets –
1. Poker
2. Casino Games
We are going to deep dive into sports betting and majorly, football (soccer) betting.
Online Sports Betting
There are a number of different ways to bet on sports including brick and mortar stores and even telephone betting services. However, all of these have decreased in popularity after the growth of technology and the development of the internet.
Sports betting has been growing at an unbelievable rate and online betting has never seen better numbers than now. These numbers are rising daily and the trajectory is incredible. To remain relevant as a sports bookmaker, all the major betting platforms have had to invest in websites and apps for providing betting services.
Using these websites/apps has made life very easy for users and provided them with an opportunity to bet on-the-go, anywhere and anytime. With state-of-the-art interfaces and easy to use websites/apps, sports betting has never been easier.
All you need to do is select your online sportsbook, register by creating an account, deposit your initial funds for betting and then you are all set.
Even though online sports betting is on the up, there are still the traditional bettors who struggle with online betting. So for all of those who are either new to online sports betting or are not comfortable with the advancements in technology, here is a comprehensive guide to help you through the entire process and hopefully, by the end of reading this, you should also be ready to go.
The History and Evolution of Online Sports Betting
Let’s start off with the history and evolution of online betting for sports. Online sports betting has been around for many years now with the creation of the same in Europe given the easy laws and regulations around sports betting, especially, in the English Premier League or just European football as a whole. People are open to select whichever licensed bookmaker they want.
It was in 1996 when the first wager was placed online in sports. Tottenham Hotspur was playing against Hereford United in the FA Cup at the time. Intertops was the first company to accept this online bet. Soon after, online sports betting became a craze in Europe.
Now, millions of people across the globe place bets through their mobile devices or desktops, daily. The online betting industry is a multi-billion dollar industry and is certainly growing in popularity.
Here are the most significant changes that have occurred in online sports betting since its inception in 1996.
Changes in the Law (Regulation and Legislation)
When the sports betting industry was launched, it was barely regulated. Most sites had a betting/gambling license that permitted them to provide sports betting services, but the requirements for these licenses were not stringent or customized to adjust the rules and update them to be appropriate.
This was terrible for customers as they were not clear on how to bet and whether or not their money was secure. There were some trustworthy sites who focused on customer satisfaction to build loyalty but there were enough of unauthorised/fake platforms, commonly known as “scam” sites, that were out there to cheat users.
Things have drastically changed for the better now, with the passing of time and the advent of technology.
Although not completely foolproof yet, there is a massive improvement in safeguarding those who bet online. Online betting rules and regulations have been put in place in several countries around the world including most countries in Africa where betting is legal and permitted. The licensing authorities and strict and carefully regulate the online betting industry in their respective jurisdictions.
Even though many of the Muslim nations do not have any betting companies that can operate legally, there is no law that prohibits people in those countries from placing online bets. Do not be afraid of betting online as a user. As long as you are not operating a betting business, you will be alright.
Stiff Competition
The online sports betting industry is massive with so many players in the space. The number of sites makes the market highly competitive and challenging to succeed in. The infinite number of options for customers means that they can be very selective and choosy in their picks of online platforms.
Many users set up multiple accounts and leverage the bonus and promotions that best suit them or cater to their needs. This healthy competition has majorly benefitted the customers as online sportsbooks have had to invest heavily in making their websites and apps as innovative and high-end as possible.
The bonuses, gifts, rewards and promotions are the most attractive feature of betting websites. Platforms that master this tend to succeed in the long run.
Importance of Interface and User Experience
With the advent of betting on handheld devices like mobile phones, tablets or even desktops like PCs and laptops, the need to look presentable is very important to retain customers.
A pleasant website that is easy to use and is not complex is bound to garner more interest than a site that has too much stuffed into the screen. Online betting platforms are hence, heavily investing in developing their apps and websites to grow their user base.
User experience does not only improve by the look and feel. Speed is also a massive factor and a lot of platforms have started partnering with payment platforms for ease of deposit and withdrawal of funds.
To help customers feel more connected and secure, betting platforms are offering a 24-hour chat service for the resolution of problems.
Online sportsbooks are always trying to develop and grow so expect more advancements in the future as well.
Unlimited Sports Coverage
In today’s day and age, you will almost find betting on any sport in the world. If not on platforms 1, 2 or 3 then definitely on 4, 5 or 6. There is no end to the sports that are available to be bet on.
This wide range of available sports for betting has made it accessible to everyone who wants to bet. This attracts both, the casual bettor as well as the experienced and serious bettors.
Too many options is definitely not a bad thing when it comes to online betting given the ease of access now. You can simply bet with a few clicks of a button and you’re good to go.
Increased Number of Betting Options
Apart from the increase in the number of sports available for betting, you can now place several types of bets. You can literally place a bet on every single potential event or second of a game regardless of the sport.
Here are some of the betting options (wagers) available to customers.
- Full-time result
- Half-time result
- Total goals in the game
- Both teams to score
- Draw no bet
- The first team to score
- Half with more goals
- Double chance
- Half-time correct score
- Total number of goals in the first half
- Total number of goals in the second half
- Asian handicap
- Handicap result
- Alternative Asian handicap
- The first player to score
- Total corners
- Correct match score
- Total goals i.e. Over/Under
- Winning margin
- Time of the first goal
As you can see, these are enough on their own but there is so many more that there can be no end to it. You can bet on any of these options for every single football game.
So many options were not available back in times because it was difficult to keep track but now with things automated, it has become ever so easy.
Bonuses, Promotions, Gifts and Rewards
Bonuses and promotions offer incentives to registered users for placing bets. This is a way of attracting customers and retaining them as well. Good promotions lead to an increase in the user base, and on top of that, they add to the entertainment.
Online sportsbooks have become very innovative now in trying to differentiate themselves from the rest. Here are some of the promotions that you see now.
- Cashback on losses
- Odds boost
- Enhanced multipliers
- Moneyback specials
- Progressive jackpots
- Refer a friend bonus
- Partial cash out
- Re-bet
- Insurance
- Live betting
- Live streaming of events
For a more detailed understanding of bonuses and promotions, visit – Bonuses and Promotions
The Advantages of Online Sports Betting
Reluctant to bet online due to some reason or the other? Although these may be valid concerns, we will do our best to try and clear these by listing down the advantages of online sports betting along with addressing some of the concerns that you may have.
Convenience
Unlike the old days where you would have to visit a betting parlour or shop to place your bets, you can now access everything at your fingertips, lying on the bed, sofa, procrastinating while eating lunch, anytime, anywhere.
Betting has never been easier.
All you really need to do is turn on your desktop or log into your internet browser or open the betting app to get started.
Visit your favourite online sportsbook that you are registered on. If you are not registered then pick the sportsbook you believe is the best and create an account for free.
Post logging in, deposit a nominal amount to get started, place the wager and then bet on the game you would like to.
This entire process does not take longer than 5 minutes. Convenient, isn’t it? The convenience factor is the biggest reason for the rise in popularity of online betting.
You do not need to leave your house or need physical cash. Why would you bet in any other form now?
If you are worried about online betting not being safe then take our word for it. Don’t be! Just make sure you select a licensed online sportsbook and you will be more than good to go.
Safety
Here are the common concerns of those who are afraid of online betting.
- Is this website a scam?
- Will my personal banking details be exposed?
- Will the platform refuse to let me withdraw my winnings?
This was a possibility at the start of online betting when the industry was less regulated and less understood. Nowadays, it is almost impossible to be scammed online as long as you choose a reputed bookmaker for online betting.
Online sports betting platforms are not only licensed but also regulated as per the laws of the jurisdictions they operate within so it is 100% legal and safe. These platforms have standards to maintain and cannot play up with customers as they risk losing their licenses and being completely shut down.
Customer satisfaction is crucial for success in the online betting industry and given the number of players in the space, they cannot afford to lose any customers.
Just make sure that you choose the reputed websites, cross-check the same and make sure of the licenses being given from the legitimate and appropriate licensing authorities.
Ease
It was such a pain back in the day for people to have to physically go and visit betting shops or casinos. It can also be overwhelming for first-time bettors.
Betting online has solved these issues. Betting has become so easy and systematic that you do not even need a tutorial to go through and understand how the website/app works. It is straightforward and very pleasing on the eye given the user-friendly interface.
Registering and creating an account should take 2-5 minutes of your time. Depositing and withdrawing funds are also easy as online bookmakers have set up wallets and tied up with payment platforms to make it a simple process for users.
Better Odds
Online platforms generally offer better odds given the highly competitive market as compared to brick and mortar shops that have to make margins.
Betting online is the best way of getting the best odds.
Online Perks
As mentioned earlier, sportsbooks will do everything to expand their userbase and attract more customers on their platforms as bettors. In order to do this, they offer various perks to keep their customers happy.
The more customers on the platform, the more money the sportsbook makes. Customer-centricity has become everything as there is no shortage in options of online sports bookmakers.
Perks are offered over and above the regular bonuses. Here are some examples.
- Prize draws
- Competitions
- Free tickets to sports events
- Sponsor gifts
- Cash prizes
- Meet and greet with company brand ambassador(s)
You would never get such perks at a physical betting shop or in the casino. Online sports betting is the way to go.
Unlimited betting options
All land-based betting shops and sportsbooks cover the major sports and big events so you would not miss out on that. However, very few of them offer as many options as online bookmakers do.
Many online betting platforms cover all professional sports, including every major sports event. In fact, they even cover the smallest or lesser-known sports events.
Online sportsbooks do not only cover sports but also esports and virtual betting (SRL). Online platforms have really diversified and tried to make everything accessible online as a one-stop-shop.
Here is just a sample of some of the events that are covered by online betting platforms.
- Football
- Basketball
- Tennis
- Cricket
- MMA
- Baseball
- Boxing
- Ice Hockey
- Field Hockey
- Futsal
- Darts
- Speedway
- Motorbikes
- Counter-Strike
- League of Legends
- Dota 2
- Table Tennis
- Volleyball
- Rugby
This should be enough to give you an idea of what we mean. Live betting is another fantastic feature that is available to online bettors. To learn more about live betting, read about it here – Live Sports Betting
Tips and Advice for Online Betting
Here are some quick pointers to follow when betting online for sports.
- Budget yourself
- Compare odds and line across various platforms before making your selection
- Read the rules and fine print
- Try live betting as it can potentially give you the best returns
- Withdraw a percentage of earnings periodically to secure a sum as savings
- Be mindful of special offers!
Online Sports Betting – Common Questions
How old do I have to be to bet online?
This depends on the terms of the site and your local laws. Typically, you have to be either 18 or 21. DO NOT lie about your age. It is punishable by law.
Who regulates the online betting industry?
This varies depending on which region you fall under. Regulation takes place at a local level, in individual jurisdictions. Licensing authorities within these jurisdictions issue betting licenses and govern the operations of betting platforms.
Here are some examples of the licensing authorities in African countries.
- Ghana – Gaming Commission of Ghana
- Kenya – BCLB
- Nigeria – Lagos State Lotteries Board (LSLB)
- Tanzania – Gaming Board of Tanzania
- Zambia – The Lottery And Betting Control Board
Can I cancel an online wager?
Usually, this is not possible but there are some platforms like SportyBet that allows you to rectify your bet through a rebet option so you cannot cancel it but you can change it in case you made some mistake.
Are online betting winnings taxable?
This is subject to the jurisdiction you are betting from. Make sure to check how much of your earnings from betting would be taxable before placing a bet. Generally, the tax amount (if applicable), is very nominal.
Bet responsibly and bet for entertainment!