THERE is a direct correlation between how we bet on online sports sites and the regulation put in place in the operating countries. While this isn’t a topic that often comes up for discussion, the conditions set by regulatory authorities and governments go a long way in determining how we decide on which bookie to register on and stake. Bookies must review these regulatory policies before they can establish their businesses in a particular country or region.
This is why some bookies will not be able to accept deposits from particular countries save for the use of VPNs. In South Africa for instance, we have some of the biggest bookies in Africa, betting sites that are permitted to operate in the country and on which major offers are available, to enable them to attract the massive betting market. Betway is among the online sites that lead this market, coming with a R1000 signup bonus, and there are many more licensed and regulated online sportsbooks in South Africa, with even bigger bonuses, that are profiled by Sportytrader. These include Sportingbet, offering R3000, Fafbet with R5000, 10Bet with 3500, and many more.
Fairness and integrity
Regulation and licensing aren’t the major considerations in decision making at the consumer level even though they dictate how accessible a bookie can be in the market, and clustering regions. Regulation also enhances fairness and integrity by enforcing rules that prevent fraud and/or manipulation. Despite all that, what licensed betting sites offer in terms of customer experience goes a long way.
As we have already seen, signup bonuses are a major enticing avenue. However, how a customer is allowed to use the bonus and winnings from stakes that involve the bonuses awarded remain important aspects in decision making. Wagering demands have over time been listed as some of the inhibitors to the betting community. When these are too limiting, it is likely customers will not register on the site.
Customer protection
Apart from ensuring a level playing field in the betting industry, regulation also has a stake in customer protection. In any industry, transparency in the terms and conditions go a long way in enabling the customer to make the decision to invest. A player will want to see what guides the participation in a particular betting site before they can put their money there.
This also has an implication on the odds and pricing. How competitive odds are is a factor players will look at when they decide on which bookie to follow, and to stake their money. Some bookies have all these features well taken care of, but the real winners go a step further. For example, today, bookies in South Africa are offering statistical analysis to help in betting, and at the same time offer an aspect of entertainment in giving live stream options. More betting markets spread the risks while real time updates guide the user in making decisions on when to cash out of bets to save a chunk of their stakes or winnings.