New bookmaker’s vs established sportsbooks
It’s always important to know that there are hundreds of betting companies out there which all claim to be better than the other. It’s also important to know that some sites are good, and others are, well, let’s just say not so good. We are here to make sure that you do not make the mistake of selecting the latter, as this is easily done.
In no particular order, its important that you consider the following when looking for a new bookmaker:
Customer services: A very crucial part to the picking process as a site with poor customer service is never a good sign. If you ever have any issues or need to ask a question with high importance, but the customer service is either slow or just bad, then you don’t have any other solutions. What we recommend is that before you sign up, you check how many different methods there are to contact customer service, what the waiting time is for a response and if they have a live chat system, then talk to the agent and ask some general questions so you can get a feel for it.
Bonuses and promotions: Every site will advertise their sign promotions or
no deposit free bets but it’s not always exactly what is says on the tin. Be sure to read the terms and conditions or FAQ’s in order to save any hidden surprises later on. Regardless of that, calculate and compare the bonuses from different sites and then you will be able to understand which one is best for you.
Best odds on the market: This isn’t too important as obviously you want to have the pick of the odds but there are other things to consider too. It’s important to note that a lot of new bet sites will look at their rivals and try to make the odds as close to each other as possible. So, if you do sign up to a bookmaker without checking how good their odds are, don’t worry, the likely hood is that if there is a bookie with better odds it won’t be much better. Take note that
1xbet is famous for having very high odds.
Betting Site Layout: Most people wouldn’t bat an eye lid at this particular topic, however we recommend you do, as a site with a bad layout can be very frustrating. What we mean by this is that you take a look on the new bookies site (Which you can do without signing up) and see if it’s something you could work with. Make sure all the sports are categorized properly and in some type of order and be aware of how many betting markets they have for the sport you wish to bet on.
Regulation and licenses: Most countries that legalize gambling and online gambling have to get their hand on a gambling license. They will also need to be regulated by the gambling authority in their country. Majority of new betting sites in Nigeria will have this however be sure to check. This is usually found at the bottom of the home page of the site, or within the sites FAQ’s.
Reviews and word of mouth: If you are wanting to book a holiday you will most likely read the reviews that other people have left online regarding the hotels and destination. Realistically this isn’t necessarily the best way to check as majority of the time if a customer has had a bad experience, they will down grade the hotel/destination even more than it should have been. Well, this is exactly the same for
bookies. If you read a review and it states that something was really bad, make sure to see if any other reviews are the same and see if there is an ongoing sequence. Word of mouth is a good way of hearing about bookmaker sites and it’s what new online betting sites rely on. Be sure to ask friends or family if they have any experiences with new sites and give it a go, don’t just rely on the reviews.
Deposit Options: Very important topic, which also relates back to the customer service section. Be sure to find out how fast you can deposit and get your withdrawals. Last thing you want is to place a last minute bet on a match and you miss it because the site took too long to process, or even worse, you win big and need the money, but it takes a month to go into your account. We also highly express that you check to see the different methods that you can deposit and withdraw with just in case the method you wanted to use is not available. It’s also key to know that when making a deposit or withdrawal, there is the likely hood of being charged, whether it’s from the bookmakers or from the provider of your payments method. Be sure to contact both ends to find out what the charge is, if any, before requesting this. Also be aware, that there are new methods coming to the scene now, especially with the rise in cryptocurrency. Bitcoin has become a more popular choice of depositing and withdrawing as there are no fee’s at all. All you need is a wallet and an online exchange. PayPal and paysafe cards are also becoming more popular as they are easily accessible than a bank account for example. Be sure to check with the bookie what the charges are, if any.
Check our extensive guide to payment options in Nigeria here.
Variety of markets and events: You may just only want to bet on football, but there is big horse race coming up and you would like to try your luck on it, but the site you signed up with doesn’t offer horse racing markets, so you miss out. This is a common example of not checking everything before you sign up to a site. Be sure to check to see the variations of markets and events that the bookie holds in order to save you disappointment at a later date.
See the list of most popular betting terms and markets here.
Latest features at online betting sites
Streaming options
Well known betting sites will actually be able to have a live stream on some matches (Not all) as long as you bet the minimum amount needed to watch. The chances of finding a new bookie that offers this is rare, but it is however a bonus, as understandably not all matches are on TV.
See the list of the best betting sites for live streaming here. Virtual sports
Virtual sports is by far a different way of betting on sports. Be aware that all the results are pre-determined by the bookmaker and are not fixed. The likes of Bet365, Betfair and Coral offer main virtual sports such as Horse racing, Football, Greyhounds and much more. Be sure to keep an eye out on the new betting companies in Nigeria to see if this is something they offer too.
Check out our article about Virtual Sports here.
Dedicated mobile applications
Most decent bookies will offer a mobile app, where most of their income comes from. Everybody is different, you may prefer betting on your phone or on a desktop etc. However, we would suggest checking to see if the site offers multiple options so you can really get the most of it and access the site whenever you want.
Check out our article about Best mobile apps in Nigeria here.
Pools betting:
Recently, new features such as pools betting has become extremely popular with some customers taking home a large profit. This works by betting on a match with a load of other people and then splitting the amount in the pool if you win with others who won too. So, if you bet £5 along with other people who may have bet more or less, the amount you bet goes into the pool and then the winnings are shared. This way you can actually end up making more money or less money than just betting normally on it, it all depends on how many people have bet on it.
Check out our article about pool betting here. Cash Out:
Cash out options are not necessarily a new feature to online betting, but there are different ways in which you can do. With more established bookies such as Bet365, you can cashout part of your winnings and proceed to leave the rest of your staked amount on the bet. New and established bookies may not have this feature yet, but they will be racing each other to do so.
Check out our article about Cash out betting here. Bet Builder:
A similar scenario is the bet builder which has been previously mention, giving you the opportunity to create your own unique betting slip in order for a higher pay-out. With this being so popular with customers at the moment, it wouldn’t surprise anyone to see new bookmakers bringing this feature on their site.
Check out our main article about Bet Builder feature here. Gamification:
Essentially, also known as objectives, the basic concept is to complete certain tasks in your bet slip in order to gain extra points/bonuses. The task could be to create an accumulator with a certain player involved or a certain team. This, in the future especially, will get you involved in this particular community that rewards you with new levels, special features and even money.
Check our extensive guide to Accumulator Betting and Promotions here. :
Odds Charts:
A lot of the time, when your betting on live sports, you will have to get used to the movement of odds as the game swings from one to another. Luckily, sites such as Fansport introduced an odds movement chart which allows you to track how much the odds have moved and give you the opportunity to predict.
Frequently asked questions.
How likely am I to win?
We don’t guarantee that you will win at all, but the chances simply depend on how much you study into your bets and a fractional amount of luck. Most new betting sites will claim that they have the best win to lose ratio, however this is a marketing technique. Stick to what you know.
Which bookmakers have best odds guaranteed?
None. Odds are changing all the time and we can only find the best ones by researching. Some website out there will have an odds comparison chart for certain markets. However, most odds will be fairly similar.
Do I Have to Pay Taxes on Online Gambling Winnings?
In the majority of States in the US and in all of the UK, you do not have to pay tax on your winnings. However, in Nigeria, you are required to pay a 20% tax on all your winnings. There are sites online which provide this information, or you cans imply contact your bookmakers customer support line in order to find out exactly what the tax rate is.
How do you change the odds format at online betting sites?
Head to your bookmakers site and log in as usual, then press and hold Ctrl and press F on your keyboard. Enter the word ‘odds’ and scroll down the displayed search results until you find the word odds and next to it should be a dropdown menu. Simply scroll through the drop down menu and select which format you would like your odds to be in.
Read more about Betting Odds here. Why Do New Bookmakers Need My ID to Withdraw?
New online betting sites will allow you to deposit without ID or documentation, however when it comes to withdrawing you will need to provide some form of identification and/or documents. In general terms, when it comes to online gambling businesses, the most likely crime which could be committed through their services is money laundering. It is contingent upon online gambling businesses, as a key term of their licence therefore, to do all that they can to combat money laundering. They must do this by asking the customer wanting to withdraw for documents such as government issued identification and utility bills.
How to make money on betting sites? There are various ways to make money online on betting sites including placing matched bets, arbitrage, sports betting, and poker betting among others.
How to recognize dubious bookmakers?
The first thing to look out for is the license the site has or if they are regulated by any specific authority. As mentioned previously this can be found at the bottom of the page. It’s also good to use your own initiative. For example, if the layout of the site doesn’t look authentic enough, if the company description seems rather vague, if there is no customer support live chat or email, then these are usual signs that something isn’t right. Also be sure to see if there are any reviews, or perhaps ask your friends if they have heard of the site before and if they managed to deposit and withdraw successfully.
