Advantages and disadvantages of betting with legal and illegal bookmakers
If you are in search of the best betting site, there are a few key factors that you need to consider. Legal betting sites in Australia come with a variety of pros and cons. Of course, the same can be said of offshore legal betting sites too. It’s advisable to weigh them all before you decide on an online sports betting site. Let’s start with a few of the main benefits of online sports betting sites in Australia.
Perhaps the most significant advantage of betting at the best Australian betting sites is that you are afforded the highest level of player protection. For starters, all Aussie gambling regulators and licensing bodies hold operators to the highest and strictest standards. On top of that, these Australian regulators can actually enforce the rules. Aussie gambling regulators are not paper tigers.
The Australian regulatory bodies don’t simply hand out licenses to any aspiring online bookmaker. Obtaining an interactive gambling license from an Australian licensing agency requires a lot of work and plenty of money. Prospective bookmakers are thoroughly scrutinised from the moment they submit a license application. This firm oversight doesn’t end when the license is issued. The Australian regulatory agencies always keep close tabs on operators to ensure they maintain those high standards. They aren’t afraid to take online gambling sites to task by issuing massive fines and/or suspending or revoking their gambling licenses. When one considers the amount of money a company must invest to operate an online betting site in Australia, the most reputable operators can’t afford to risk being shut down.
Aussie punters who use offshore legal betting sites are usually afforded a lot of protection. Licensing entities like the United Kingdom Gambling Commission, Malta Gaming Authority, and the Government of Gibraltar are among the most respected regulators in the world. However, they are not subject to Australian laws, which means punters have little meaningful recourse should they encounter a problem. Australian authorities cannot intervene as offshore sports betting sites are outside of their jurisdiction. On the flip side, Australian sports bettors who have disputes with legal betting sites in Australia have legitimate avenues to pursue. Local regulators have the authority to enforce their decisions.
Ever since online sports betting came into existence, we’ve all heard stories about online bookmakers closing their doors and absconding with player funds. This has always been an issue. However, Australian legal betting sites must keep their operational funds separated from their customer’s funds. This is to ensure that your money is always available to be withdrawn in full at any time.
While it’s true that the best offshore legal betting sites cover a vast selection of sports and other events, the best legal betting sites Australia pay a little more attention to Australian leagues and Aussie horse racing betting. At the same time, Australian legal betting sites offer odds on a huge selection of foreign leagues and niche sports like darts, table tennis, cycling, and snooker. Having so many top-tier Aussie bookies to choose from also gives punters the opportunity to shop around for the best odds and take advantage of features like live streaming, cash out, and enhanced odds. We must also consider that a lot of Australian sports bettors prefer to give their business to domestic online sports betting sites instead of foreign sites. After all, it’s better for the economy.
One of the most under-rated advantages of betting at an Australian bookmaker is that they are required to provide their customers with a wide range of responsible gambling tools and resources. This is important seeing how problem gambling is such a huge issue Down Under. The creation of the National Self-Exclusion list was one of the results of the 2019 amendments to Australia’s Interactive Gambling Act. Implementing this was a victory for responsible gambling advocates.
As trustworthy and reliable as Australian legal betting sites are, there are a few distinct disadvantages to them. For starters, Aussie bookmakers are not allowed to advertise their services or offer incentives such as welcome bonuses to prospective customers. Offering welcome bonuses and other promotions is one of the most effective means of attracting new players. Punters can benefit greatly from these offers. Being able to claim welcome bonuses like free bets, risk-free bets, and bonus cash is very attractive to any sports betting enthusiast. This is a major reason why so many Aussie sports bettors prefer betting with reputable foreign operators.
One of the strangest disadvantages that Aussie betting sites are faced with is their inability to accept live in-play bets online. However, there is a loophole that many Australian online betting sites exploit. They are allowed to advertise live betting odds on their sites. The thing is that punters have to call the bookmaker on the telephone to place their bets. Of course, this isn’t always practical because live betting odds change so quickly. That’s just the nature of live betting. By the time you dial the number and get the bookie on the other end of the phone, the odds you saw a few moments ago may have significantly shifted against you. This is not an issue with the best offshore sports betting sites. Australian bettors who use foreign bookies can place their bets online in the blink of an eye.
Another disadvantage is that domestic online bookmakers tend to offer inferior odds and fewer betting markets than the big international betting agencies. With that said, some domestic bookmakers will offer better odds than international bookies on smaller Australian betting markets. Experienced sports bettors know the importance of getting the best odds possible. Making a profit through sports betting is extremely challenging and punters need to take full advantage of any edge they can find. Even a small difference in the odds can have a significant impact on a sports bettor’s bottom line. It might not make a lot of difference in the short term, but it really adds up over the long haul.
When we say illegal bookmakers, what we are referring to are bookmakers that operate without a license from an Australian authority or from any other jurisdiction. Betting at an illegal or unlicensed site comes with nothing but downside. For starters, you have little to no protection. If the illegal bookie suddenly closes shop or freezes your account and funds, there is nothing you can do about it. Because they are not licensed or regulated Down Under, illegal online sportsbooks don’t have to answer to anyone including Australian regulatory bodies..
A bookmaker might have an awesome welcome bonus, plenty of promotions, the best odds, and one of the fanciest new betting apps around, but you should avoid it like the plague if the site does not have a license. A lot of rogue sites popped up when online sports betting was in its infancy and they gave the entire industry a black eye. Fortunately, fewer and fewer of them operate today as the regulatory environment has tightened. Nevertheless, they do exist.
Reasons to choose an Australian bookmaker
- Legal betting sites in Australia must comply with Australian laws.
- Access to an Australian customer service team.
- Access to Australian-friendly payment options.
- Highest levels of player protection.
- Aussie bookies create jobs for Australians and contribute to the Australian economy through various taxes and fees.
Reasons to avoid online bookmakers that are not licensed in Australia
- Foreign operators are not subject to Australian laws.
- No real recourse if the unlicensed site doesn’t pay you.
- Payments may be blocked.
- Unlicensed sites generally do not operate to the highest standards.