Put yourself in the position of a race track tycoon. You run the place, you decide who’s going to race, and then you settle down in your luxurious lounge to enjoy the spectacle. But the truth is slightly different. Before you know it, the betting is already underway, the horses are racing, and your big boss is already having second thoughts about running such a ‘clean’ establishment. The point is that without the bets from the punters—the people who actually lay the cash on the line—you’d be out of business. So the role of the bookmaker isn’t just limited to taking bets; they’re also responsible for collecting those bets and sending off the winnings (if any) to the rightful owners.
The same applies to online bookmakers. It’s well-established that they operate on a ‘no-risk’ basis; if the sport/event doesn’t deliver, they don’t lose a penny.
Why Are Online Bookmakers Necessary?
It’s simple really. Back in the ‘old’ days, people still turned up at the bookmaker’s to place bets. They’d walk down the street, plop down their cash on a trestle table, and away they’d go. The whole process was pretty basic, nothing more than counting the money at the end.
These days, sports betting shops have largely replaced the physical bookmakers. The convenience for the bettor is obvious: from the comfort of their home or office, they can place bets on a range of sporting events. If they’re feeling particularly adventurous, they can also place bets on the outcome of an event they’re not even watching. As long as they’re confident in their knowledge of the sporting rules, and have access to affordable equipment (e.g. phones), getting involved in sports betting is a cinch.
Online bookmakers have also benefited from the rise of the phone-less bookmaker. Back in the day, people would turn up at a bookmaker’s, plop down their cash, and pick up a paper and pen to do the paperwork. With the onset of technology, the process of registering an account and placing a bet became a thing of the past. You no longer needed to physically walk into a bookmaker’s to place a bet, you could do it from the comfort of your home. Furthermore, the bookmakers themselves have gone digital. Instead of having a pen and paper-based system for taking bets, they use electronic interfaces designed for gaming. The end result is a streamlined betting experience that’s both convenient and safe. In the event of a betting slip being discovered with written details of a bet being visible, a hacker’s best friend (hockey pun intended) is now at risk of being breached.
The Main Differences Between Bookmakers And Online Bookmakers
Okay, here we go. While both bookmakers and online bookmakers take bets, the differences between the two are numerous. Put yourself in the shoes of a newbie and you’ll see what I mean. So let’s take a look at some of the most important differences.
Physical accessibility. Without a doubt, one of the biggest differences between bookmakers and online bookmakers is that the latter can be accessed from anywhere. In the event that you’ve managed to grab a seat at a local sports bar and decide tonight’s the night to place a bet, you can do so without leaving your home. The same goes for those engaged in remote-based employment. Instead of having to get up early in the morning to get to the office to place a bet, you can do so at your convenience. Furthermore, if you’re using a mobile device, you can access the bookmakers at will. In the past, this was only possible while physically in front of a computer. Also, you might prefer to place bets on a specific event that isn’t available at your local bookmaker. In that case, you’d have to go to another website and register for an account there. The remote betting environment makes this process much more convenient.
Convenience for the bettor. When discussing convenience for the bettor, you have to look at it from two angles. On the one hand, you need to make it easy and quick for them to place a bet. This entails offering a user-friendly experience while minimizing the number of steps required to do so. On the other hand, you need to make sure that their financial and personal information is secure if you expect them to place a bet. To illustrate the point, let’s look at the two processes in reverse. Imagine that you’re a bookmaker and you want to collect a bet from a customer. You’ll have to go through several hoops to make sure that their personal information is secure, and that they’re not a ‘scammer.’ This is particularly troublesome if you’re using an online betting platform, which often times requires you to fill out a detailed form with personal information. Furthermore, the customer might be hesitant to provide you with such information, if they feel that it’s at risk of being hacked. You wouldn’t want to discourage potential customers from placing a bet with you simply because you have to ask them for personal information. This could potentially damage your business, so you want to make sure that this is something that they’re willing to provide while keeping your customers secure.
Speed. It’s fair to say that most people prefer to place bets as quickly and easily as possible. This is doubly true for those who are used to placing bets on the move. The faster you can get the bet placed, the less likely you are to lose. Now, this isn’t always the case. For instance, if you’re betting on a horse that you’ve never heard of, you might want to take the time to research its antecedents. The point is that if you’re in a hurry, you might end up placing some really odd bets.
Security.
This one’s self-explanatory. One of the main reasons that people use online bookmakers is because of the convenience of doing business from the convenience of their home or office. There’s less risk of fraud, as money is no longer being handled physically. Furthermore, online bookmakers ensure that all transactions are encrypted and personal information is maintained with high degrees of security. This is particularly beneficial for those who are involved in the gaming industry, as they must look after their customers’ sensitive financial information. In the event that a security breach does occur, the authorities will inevitably come knocking at the books’ doorstep. Not something you want to worry about. Especially if you’re just starting out.
Technology.
This one goes without saying. The world of sports betting has shifted to the digital realm. Back in the day, people placed bets by walking down the street to a bookmaker’s office. Today, a combination of technology and social media has given birth to the esports betting world. Instead of going to a bookmaker’s and placing a bet, you can now do so on your phone. Of course, this also makes things a lot more convenient for the consumer. In the event of an odd combination of circumstances, you might want to look into esports betting, as it’s yet to really hit the mainstream but might just be the next big thing. Also, don’t forget about the growth of online casinos, as this is now an established way of betting, and quite a popular one at that. In the case of the latter, the shift to online has made it much more convenient for the consumer. No longer do you have to go to a land-based casino to place a bet; all you need is a smartphone and you can get access to all the casino’s gaming offerings, from traditional table games to slots and video poker. More and more people are discovering the conveniences of online betting, and the future of sports betting appears to be in good hands.