Online Betting – Is It Safe?

Do you know that Australians love to gamble more than any other nation on earth? Data shows that in 2016, Australians lost more than $18.3 billion dollars in gambling. The country with the second highest losses to gambling was Singapore, and it trailed behind by almost 40%!

Gambling has traditionally been the sole preserve of men. However, with the advent of online betting sites, women have also begun to participate more in betting. In fact, a recent study of 1,000 people who gambled online showed that 56.2% were men and 43.8% were women!

In Australia, the fastest growing market is the online sports betting segment. While sports betting has long been a male bastion, more and more women who are passionate about sports are now making their bets on online betting sites. Another study showed that most women bettors in the sports betting arena were under 30!

If you are looking at using online betting sites, you should be aware of the dangers and also know how to enjoy placing your wagers safely.

The Dangers of Online Betting

While gambling is a lot of fun, it can be dangerous. Yes, there is the most obvious issue of gambling addiction.

Interestingly enough, studies conducted in different parts of the world show that there are less than 4% of all gamblers who have a serious problem with gambling. The majority of people who gamble online do so for entertainment and are able to leave it at that.

Having said that, it is always necessary to keep reminding yourself to keep things light and remember that it is only entertainment. After all, when the excitement is high, we tend to get carried away – and that’s what causes us to end up losing a lot of money.

There are other dangers that many do not think about when betting online. There are now betting sites popping up almost every other day. And many of them are offshore sites that are not regulated by gaming authorities. What this means is that they offer no consumer protection and are in many cases scam sites that are out to rip you off.

Betting sites that are not regulated do not usually follow the rules of fair play, and their games could be rigged. Such sites also have unreasonable terms and conditions, which most of us tend not to read. It isn’t until we lose our money that we find out about those unfriendly terms.

You also give your personal information when you bet online – your name, address, credit card details and so on. That is information that can be used by a hacker for nefarious purposes.

How to Bet Safely on Online Sites

If you like to gamble online, or would like to try, then here are some tips to ensure that you do not get into trouble while doing so:

• Choose those Betting Sites Australia has to offer that are regulated and licensed. This is the biggest mistake people make. Playing or betting on sites that are not legally bound. When you select only those betting sites that are regulated under Australian law you are protected by Consumer Protection Laws of the country if you run into any trouble on the site.

• Choose sites that offer your betting options that you like – whether it’s for sports betting or for online casino games. Many reputed sites will offer you both kinds of betting options.

• Ensure that the website has a strong customer service support system so that you can have your concerns resolved easily.

• Read the terms and conditions. This is where the loopholes are mentioned. Things such as complex withdrawal conditions or high deposit conditions are red flags.

• Set a limit on your betting amount. And when you reach that limit, stop. The mistake we usually tend to make is that we get carried away by the possibility of a win and so we keep betting. Some days you will win. When you do, cash out your wins and enjoy the rest of your day. The times that you don’t, stop. Walk away from the game and enjoy your day.

• Ensure that you choose a betting platform that has secure encryptions that protect your money. Transactions should be fast safe and secure.

The online betting industry is growing at a tremendous pace, with casinos and bookmakers mushrooming everywhere. Betting on sports is a fun pastime, and it can be super exciting when your favorite sports team or player wins and you win your bet and make a tidy sum of money while you’re at it.
However, it is also wise to remember that these are all games of chance, and your gamble may not pay off. So, the best thing you can do is bet responsibly and know when to stop.