The global sports betting market was worth $45.43 billion at the beginning of 2024, while growth in the US is expected to drive a worldwide CAGR of 7.47% over the course of the next five years.
By 2029, this market will be worth $65.14 billion, with more US states expected to legalize sports betting in the next few years and already regulated jurisdictions likely to see their own betting handles increase.
However, mature sports betting markets in the west are also being besieged by increased black market activity. So, what steps can you take to identify reputable sites that are safe, secure and committed to protecting your real money balance at all times?
Confirm That a Sportsbook is Licensed
Wherever you live in the world, it’s important that you wager with a fully licensed and accredited sportsbook.
There are several official regulators in the world, each of which operate in specific jurisdictions. There are also well established regulators whose brands are widely accepted across the globe, including the UK Gambling Commission (UKGC) and the Malta Gaming Authority (MGA).
When appraising a remote sports betting site, you’ll first have to confirm that they hold at least one valid licence. Their accreditations must be presented online (ideally on the homepage), and should include a full licence number alongside a registered headquarters. They must also be licensed to operate in the relevant jurisdiction.
The sportsbook should also hyperlink their licence number to a supporting resource. This can provide further peace of mind and enables you to uncover the most trustworthy sites.
Only Wager at Secure and Encrypted Sportsbooks
Online betting sites should also be secure and encrypted, including offshore brands that are often able to circumnavigate alternative regulatory restrictions.
More specifically, they should boast 128-bit SSL encryption as a minimum security standard, with this helping to safeguard your financial information and the integrity of individual deposits and withdrawals.
But how can you tell that a site has SSL encrypted? Well, let’s say that you’re looking for a Melbet bonus code India and stumble upon the site. Simply click on the padlock icon on the left side of the URL, which will indicate whether the site is secure or lacking the necessary certification.
Also, SSL-encrypted sites start with ‘https’, as opposed to ‘http’. This is a simple but effective check that enables you to wager freely on your choice of sporting event!
Analyze Available Payment Methods and Customer Support
Rogue or black market sites also tend to be defined by questionable (or unfamiliar) payment methods and a distinct lack of customer support.
When it comes to the former, licensed and trustworthy sites should offer a diverse range of recognizable payment methods that are secure and easy to use.
Such payment methods will include Visa and Mastercard debit cards, ewallets (like Skrill) and selected cryptocurrencies. These offer security and flexibility to bettors, while they’re also widely utilized out of the remote betting space.
Try to avoid sites that rely heavily on credit card payments, as this banking method has been outlawed in developed markets such as the UK and Australia.
When it comes to customer support, you should be able to contact brands through several different channels. Interactive live chat is the most effective, as this allows constant access and ensures your queries are answered promptly.
If there’s an absence of customer support channels (or incredibly slow response times), you should probably search for an alternative sportsbook.