You may have heard of cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. In the last year, many sportsbooks have started taking notice and have started offering crypto currency wagering options to customers. This has led to a more convenient way for bettors to place bets and a more reliable way for sportsbooks to keep their books.”
It is important to note that not all sportsbooks that offer Bitcoin and other cryptocurrencies as a means of payment need to register with the Nevada Gaming Commission. If a sportsbook has registered with the commission, then it must adhere to the same guidelines as brick and mortar sportsbooks. This includes licensing, transparency, and sportsbook security measures.
Check The Licensing
As the name implies, a sportsbook licensing means the site is authorized to operate in the State of Nevada and must follow the rules and regulations set by the Nevada Gaming Commission. The most important thing for bettors to look out for is whether or not the sportsbook has a license to operate in Nevada. If it does, then they can assure themselves that the site is legally able to receive wagers and handle the funds accordingly. The absence of a license in Nevada is a great indication that the site may be a scam since it shows that the site is not following the law nor is it registered with the commission in Nevada. It is also possible that the site is simply ignoring the law and registering with other states’ gaming regulators such as the Mississippi Gaming Commission or New York State Racing Commission in an attempt to save money on fees. However, the legality of such an action remains to be seen.
Learn How The Site Works
While regulatory compliance for a sportsbook is a must, so is transparency and convenience in how the site functions. It is essential that users understand how the site works and are aware of any quirks that may arise. A great way to do this is through a transparent and user-friendly website. If a site is hard to navigate or does not provide sufficient information about themselves, it could be a red flag that they are trying to scam bettors or just treat them unsatisfactorily. The more information a site provides, the more trustful the user becomes.
Use A VPN To Stay Anonymous
Every online bettor should use a VPN to keep their personal data secure and hidden whenever they are accessing the internet. VPNs (Virtual Private Networks) are great tools that can help users connect to the sites that they want to visit without having to worry about the security of their personal information. If a person connects to a VPN and then connects to a bet site, the odds of that site identifying the individual as a suspicious activity drop significantly. This is because all the traffic going to the site will be routed through the VPN, effectively shrouding the origin of the activity.
Check The Platform For Bugs
No digital currency is 100% secure, and all cryptocurrencies are susceptible to hacks and glitches. For that reason, it is essential for all digital currency users to keep their systems up to date and bug-free. A great way to do this is through a reliable operating system and web browser. If a crypto platform is not compatible with the most popular desktops and laptops, then it could be a sign that the site is trying to scam users by asking them to download an app that is designed for use on mobile phones.
Look For Red Flags
It is important to be careful when dealing with new people and organizations; especially when it comes to money. It is always wise to be on the lookout for shady dealings and warning signs that can help you assess whether or not you should trust a new interaction. One great way to do this is by looking at previous interactions that the organization or person has had. An easy way to find this information is by using a reverse phone lookup service such as Google Voice. This tool can help you do a quick and easy reverse lookup on any phone number, simply by searching for it on Google.
If you find that a phone number is associated with several scams and questionable activity, then it could be a sign that the person you are interacting with is trying to scam you. Remember, you can always get in touch with the FBI or the appropriate state or local law enforcement agency if you are unsure about whether or not you should trust a new interaction.
Hopefully, this post was helpful in providing some tips on how to tell if a betting site has a license or is a scam. Always be wary of unidentified operators who ask you to wire them money or use false addresses to send you money. If you want to find the most reliable and licensed sportsbooks that offer Bitcoin as a means of payment, then visit our review section where we have compiled a list of the top ten sportsbooks that accept Bitcoin.