Dishonest crypto sportsbook operators abound in the online sports betting industry. These entities range from sportsbooks with questionable solvency and long payout delays to outright crooks. It's possible to lose a lot more money than just a bad wager when betting with an online sportsbook without doing your homework.
Nevertheless, punters can register, deposit, and wager with confidence at a registered and controlled online betting site, even though some shady crypto sportsbooks are out there. Below, we have shared top tips on how to spot shady crypto sportsbooks:
Unverifiable licensing status
The "license to operate" is shown prominently on the website of every respectable crypto online sportsbook. Some reputable sportsbooks go the extra mile to display their licenses prominently, while others may bury it in their fine print or terms and conditions.
As long as a sportsbook is legitimate, you'll be able to locate information about where it is licensed on the site.
Licenses are required to ensure that a crypto sportsbook has been opened to third-party audits and has passed these financial tests.
Also, never assume the crypto sportsbook you're considering is trustworthy because it has a license. That being stated, if a sportsbook does not have any licensing information provided, you may want to think twice before depositing money or placing
crypto bets there. Avoid sportsbooks without a license and those you don't know well.
Abruptly ended book-to-book transfers
Book-to-book transfers, which let you move your money from one sportsbook to another, are frequent at some online sportsbooks.
It's a terrible sign if your sportsbook abruptly prohibits this function. If other crypto sportsbooks have decided not to partner with them, it's because they've engaged in fraudulent activities or have come close to bankruptcy. Therefore, other sportsbooks defend themselves from the dishonest operator by distancing themselves from it in advance.
When book-to-book transfer becomes impossible, it's a red flag that your sportsbook is in trouble. You should transfer sportsbooks as soon as possible if this happens at your online sportsbook.
Bonus Terms Change often
You could sometimes find yourself in a situation where you bet to win a 20% bonus, but you're only given 10% when the payoff comes. If this happens to you, the crypto bookmaker you've found is a rip-off.
These are unethical and dishonest practices carried out by an online bookmaker against its consumers. If they alter the terms of the bonuses without notifying you, avoid doing business with them. Whatever the justification, you're better off staying away from these hobbies if you value your money.
Verification Takes Way Too Long
You must go through a thorough
verification system once you sign up with a bookmaker before starting to place bets and earn money. It's true, especially when you're entering your credit card information to pay. You can tell if a website is genuine when you are able to easily verify your identity there.
In contrast, you may come across a crypto betting website that allows you to wager on whatever sport you want without requiring you to go through a verification process first. If you see such sites, you might want to give it a second thought before signing up with them.
Requesting a payout but being refused because of the amount of information requested while verifying your account is also a red flag.
Your account will be verified swiftly by a legitimate crypto bookmaker.
Weak promotions
Promos and rewards are the ideal strategy for bookmakers to bring in as many sports gamblers as possible. In addition, they report on the most well-known sports, as well as current league events.
Be wary of bookmakers who provide promotions that sound too good to be true. You're probably dealing with a crook. It's a ruse to entice unsuspecting victims and withdraw funds from your bank account.
Poorly Designed Websites
Sportsbooks with a good reputation will have a user experience and user interface (UX/UI) that is both professional and speedy. Any laptop, desktop computer, notebook, or mobile device should work well with the site.
If a crypto sportsbook's pages don't work or reply when you click on them, you should leave. Do you feel as if you're on a shoddy website? You most likely are.
Legitimate crypto sportsbooks should have the resources to provide customers with well-designed and easy-to-use websites.
Poor customer support
An email that goes unopened for weeks on end or phone calls that go unanswered on a regular basis are red flags for a shady online sportsbook. Every reputable sportsbook has a well-equipped customer support department, without a doubt. Your response time should never exceed one day.
Response time from customer care is a good indicator of a sportsbook's trustworthiness and accountability. The absence of this department indicates that your sportsbook is not looking out for your interests, but rather only for its own.
Takeaway
The crypto sports betting market has developed rapidly and will continue to do so for the foreseeable future. Because you can bet and gamble anywhere you want using your mobile phone, this will appeal to a vast number of potential bettors. Check out this
WeGamble article on Best eSports Gambling Apps.
However, this progress has brought with it dubious activities and scammers eager to keep up with the times. You may come across bookmakers who take advantage of you from time to time. We've shared here some of the top pointers that will assist you in telling the difference between a genuine crypto bookmaker and a fraud.