As the popularity of online betting increases, the number of fraudulent sites has risen as well. Because of this, many people now look for an alternative to using an unlicensed sportsbook.
Why would you want to use an unlicensed sportsbook when licensed ones are trusted and have been in the business for a long time?
The reason behind this is the risks involved with these unlicensed sportsbooks. These dangers include losing money, unauthorized transactions, fraud, and access to any personal information that could cause individual harm.
In recent years, the growth of online betting resulted in the formation of what is known as soccer gambling sites. These sites allow Italian bettors to bet on the result of a particular match while the outcomes are kept updated for the bettors to see. Most of these so-called soccer gambling sites operate in the same manner as licensed sportsbooks.
With all this popularity, unscrupulous operators began targeting these unlicensed sportsbook operators to steal the identity of a sportsbook owner and steal as much of the revenue as possible.
Tony Buzan, a well-known American soccer bettor, is one of the most prominent entrepreneurs whose personal information was stolen, and accounts were drained of all funds. Most of the blame attributed to the hack was pointed to the unlicensed sportsbook operators because they did not have the proper security measures to prevent the theft. For their part, the operators pointed the finger at the hackers for stealing the proprietary information.
With the prevalence of online websites and the increase in the number of people interested in sports betting, there is no doubt that there will be an increase in the number of sites that run unlicensed sportsbooks. The problem here is not with them but with the people providing the online sports betting services. These people will be taking on an increased risk because there will be more competition among them. The only way that they can stay in business is by ensuring that they provide quality services. This situation means taking on only those online websites that have been licensed by either the Department of Homeland Security or the Federal Trade Commission.
To prevent such from happening, the most known Singapore sportsbook online company, 88Probet, created an infographic with all the effective preventive measures to avoid these frauds:
