How secure is online horse wagering? Read this post to find out.
Online horse race betting is a popular and convenient way to engage with one of the oldest games on the planet. With only about seventy-five tracks remaining in America, there aren't many opportunities to wager in person anymore.
Online sportsbooks can provide a safe and enjoyable experience for people of a legal gambling age. You can use TwinSpires as a reference, since they are one of the most reliable and known brands in the market. With the Breeders Cup race coming up you can check the odds in their website here: https://www.twinspires.com/breeders-cup/odds/
But how can you be sure that the website you enter your credit card information into is reputable?
In this article, we take a look at if betting virtually on horse races is safe, and what you should know going in.
Table of Contents
Is Betting on Horse Races Online Safe?
In 2006, this question came to national attention when BetOnSports CEO Gary Kaplan was arrested in the Dominican Republic. The charges? Three total, the most significant of which was racketeering. Kaplan was sentenced to several years in prison, but his legacy continues to leave a bad taste in the mouths of recreational sports bettors all over the world.
Part of the problem is that the company had every appearance of being legitimate. BetOnSports.com was one of the biggest online sportsbooks in the United States. But there were consistent grumblings—players saying they hadn't been able to withdraw their winnings. And, perhaps more important in the eyes of the federal government, the business had a legally murky license.
When all was said and done, there were millions of dollars in unpaid winnings and accusations of fraud running wild. So, is betting on sports online safe?
Betting On Sports Is Safe If You Play Safe
Betting on sports online is safe as long as you pick the right services. Yes, the BetOnSports case is tricky in that it really looked like a legitimate service. They were pumping enormous amounts of money into marketing. They had a nice, clean website—at least by 2000 standards.
They may have even had a gaming license in the Caribbean. That, by the way, is not sufficient for international operation, which was part of the problem. Here's the lesson from this and other questionable sporting books: you need to do your research as a consumer.
That's not only true of online betting. You should be equally cautious when making a purchase on an e-commerce store. It feels like a lower-stakes decision. I’m trying to buy a puzzle online. What’s the worst that could happen?
But really, from a risk perspective, it's the same. You're giving your credit card information to a stranger.
For sports betting, at least, there are regulatory bodies and gaming commissions that you can consult with to make sure that all of the necessary boxes have been checked.
Be Careful of Social Proof
Social proof is a good secondary source of information, but only once you've verified the authenticity of a site. One, it's relatively easy to fake.
For example, many online businesses will create artificial Reddit comments or Quora posts that are designed to indirectly compliment their business. They might say something like, Hey guys, has anyone tried hypotheticalhorseracebettingsite.gov?
And then people say, No, I haven't. What do you think?
Oh, I just tried it. At first, I was kind of skeptical. Turns out it’s really good. Then they might go on to post about competitors: Oh, I hate when withdrawals are slow. They don't do that on hypotheticalhorseracebetting.com. I got my winnings right away.
Obviously, not every Reddit and Quora post is fake. Most aren't. But even genuinely satisfied customers might be inadvertently leading you down the garden path. BetOnSports.com had satisfied customers. So, for that matter, did Bernie Madoff.
Social proof is a good way of getting experiential information — what a website feels like, how responsive the customer service is, etc. But it’s not a reliable way to determine the authenticity of a service. For that, you definitely need to check in with the proper gaming commission.
Betting Online Is as Safe as You Make It
You can bet online safely if you take the time to research your options. Look for both regulatory compliance and credible social proof.
Remember that this is supposed to be fun. Smart betting is safe betting. To that end, you should do research beyond just the legitimacy of the service. Legal compliance is nice. It’s also the bare minimum in terms of what a betting service should be expected to provide.
Look for betting sites that have exciting promotions. Well-made user interfaces. World-class customer service. Many betting sites will offer promotions that reward loyalty. For that reason, it’s worth your time to research the matter thoroughly and pick a site that you will be happy to stick with long term. Once you find it? Continue to make the site safe by betting responsibly.
Only wager money you can afford to lose, and treat it as a way to engage more deeply with your hobby.
INTERESTING POSTS
- Difference Between A Viruses, Malware, Adware, Trojans, and Ransomware
- How To Stay Secure: 5 Top Tips When Betting Online To Implement And Follow!
- Types Of Trojan Horses And How To Remove Them
- Blockchain Trends That Are Shaping the Betting Industry
- Proof of Address, Instantly: Why More People Are Using Document Generators?
About the Author:
Mikkelsen Holm is an M.Sc. Cybersecurity graduate with over six years of experience in writing cybersecurity news, reviews, and tutorials. He is passionate about helping individuals and organizations protect their digital assets, and is a regular contributor to various cybersecurity publications. He is an advocate for the adoption of best practices in the field of cybersecurity and has a deep understanding of the industry.
