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Safety risks in online betting: how to bet safely

There exists a certain level of ambiguity about online betting and its safety and rightfully so. Experts say that in 2020, cybersecurity is bound to become one of the biggest concerns in the world. Here are some of the points punters should keep in mind while betting online to ensure a secure and fun gaming experience:

1) Checking the authenticity of the bookmaker you are using:

Your first step should be to check if the bookmaker you are using is a legitimate and secure one. It must have SSL encryption (indicated by the padlock sign at the beginning of the URL) which is required for online financial transactions.
It is also a good idea to do some research on the bookmakers you settle for. You must look for the following, 

  1. License and authorisation – Good bookmaking sites must have a legitimate license and registration under a reputable governing body. Each country and even its states have different laws on betting and bookmakers must abide by them.
  2. Life span: It has been observed that fraudulent websites do not get to operate for too long; they get shut down frequently. So, a measure of a good bookmaking website would be how long it has been operational.
  3. Online reviews: Reviews shared by fellow users as well as experts is a great way to measure originality of bookmaking sites. An abundance of genuine, positive reviews can point you towards a good bookmaker.

2) Managing money responsibly:

It is very important to manage your money while betting online. A sound money management strategy will minimize your losses and protect what you have already won. 

  1. You should never engage in betting in a way that might pose a threat to your financial stability. The best way to do this is to set a fixed budget and faithfully sticking to it.
  2. Some bettors also have the tendency to reverse their withdrawals. Impulsive players like them may use withdrawal lock options provided by some trustworthy bookmakers.  
  3. You must also never chase losses.
  4. You must never use credit or borrow for gambling.
  5. You should get swayed by your emotions and lock up a lot of money against poor odds. Betting is all about rationality.

You may use trustworthy platforms like PayPal for your deposits, without sharing bank details with unknown hosts.

3) Being aware of sharing personal details:

If you use a safe betting website, the chances of your personal data being at risk is negligible because these sites stick to their professional ethics. Keeping your details safe is important to them, it brings them goodwill and as mentioned before, positive reviews. Using these sites also ensures that your data will not be stolen, since they generally use latest encryption methods. However, there will always persist a small chance that they may be hacked. Even the most esteemed tech biggies like Microsoft, Sony and Amazon have been hacked into to steal customer information. In this case, there is not much you can do.
What you should do instead is to take precaution while accessing or using various betting websites.
You should always use updated anti-virus and anti-malware software on your devices.
it is a good idea to use strong passwords for accounts you create in bookmaking sites. You may use a combination of letters (both in lower and upper case), numbers and special characters.
You should never use the same password for all sites and should keep changing the old ones regularly.
Never share your banking or card details over a third-party apps and websites or on live chat. It risks getting intercepted. Always put in your details directly into an encrypted and secure website.

4) Not Getting Addicted: 

This is something all gamblers must be aware of. It is very important to be responsible while betting.
As mentioned before, setting a budget and sticking to it is a good place to start. The “I’ll win it back” mentality must not be there. Once you have lost, you should learn to embrace it and move on.

A review made in 2015 found internet gamblers, compared to non-internet ones, to be having higher amounts of mental issues and even higher rates of substance abuse. Some probable causes behind this maybe, its ease of access to both the betting platforms as well as banking ones, anonymity, greater convenience, legal loopholes, etc.  

Overall, online betting can be considered pretty safe and even fun, if the punters are well aware of certain ills within the industry take appropriate steps to avoid them. 

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