There is a lot of badmouthing going around about online sportsbooks. One common complaint is that the services provided by fake sportsbooks are less than what legitimate bookies can offer.
Sports betting Singapore is an addictive activity; various people get hooked on the adrenaline rush it brings. Unlicensed sportsbooks pose a severe threat to the already diminishing legitimate sports industry worldwide.
A fake sportsbook operates like a standard sportsbook. People will place bets on sports events taking place in the same city, state, or country. They make money by getting a percentage (usually 10%) of the winnings from successful bets. The fake “sportsbook” operator gains extra money by selling various sportsbooks printed with his business name. It is this money that the operator hopes to turn into profit.
Most individuals think that sportsbooks are regulated because they are controlled by the leagues or organizations that organize sports competitions. But this is not always the case. In some instances, the leagues themselves are the ones governing their sportsbooks. So even if the local league isn’t supervising the activity inside a sportsbook, they are the ones who provide licensing and regulation of the activities.
So, why are there fake and unlicensed sportsbooks?
It is simply because they don’t have to follow specific regulations. Actual sportsbooks follow all the necessary rules and state requirements. The problem is that various fake and unlicensed sportsbooks don’t care about these things, so they don’t bother to register or get licensed. They operate illegally, so they think it is okay not to pay taxes and state agencies.
Why do sportsbook owners lie to their customers?
It’s not uncommon for these unlicensed sportsbook owners to give false stats and figures to attract more customers. The truth is that most folks will notice that a sportsbook is providing incorrect information often. The sad truth is that sportsbooks have no way of stopping their owners from doing this.
Now that you know why fake and unlicensed sportsbooks make sure you always deal with legitimate and licensed sportsbook operators. Through this action will ensure you’re only with honest and hard-working operators. After all, your interests are genuinely in mind.
Continue reading the infographic below brought to you by the notorious Online Sportsbook Singapore enterprise, 88Probet, as they share all the feasible ways to spot and avoid unlicensed sports booking sites: