The Risks and Frustrations of Online Gambling

As with many things that we enjoy in life there is often a downside, and of course gambling online is no exception. To begin with, there is often talk of the legalities of gambling online in the US, and here we don't intend to inform you of the legal issues but we can tell you that there is no law against online gambling in the US and that many residents of the states enjoy their pastime on a regular basis. Should this particular issue be of any concern for you then we suggest that you speak with the relevant parties. The only issue that the US Government has with online gambling is that it is not taxable and in fact many states are in the process of legalizing online gambling for this reason alone. Many people are opposed to online gambling due to moral reasons but on the other side of the coin is it really morally wrong to wager a sensible amount on a sporting event? There are of course many arguments both for and against and differing views on gambling in general have been around since.....well, gambling. Gambling online is simply a different way of gambling.

Financial Risks of Gambling Online

We have all heard horror stories of online wallets leaving sports bettors high and dry after either closing down or being closed down, and there is no getting away from this fact, it does happen. Another risk that may be faced is that the establishment you are wagering at closes down with your hard earned cash in it, and yes, there have been a few cases of this. When the UIGEA (The Unlawful Internet Gambling Enforcement Act) was passed in the US many people lost their cash, however it's worth noting at this point that none of the bettors were in trouble with the law, the act made it illegal for companies to accept money from US citizens for the purposes of gambling, i.e banks and other financial institutes. However, again worth noting is the fact that many of these offshore gambling establishments have now been doing business effectively for 15 years.

Payment Issues

A huge area of frustration for some people is getting a pay out from the sportsbook that they have been dealing with. In a country with regulation that is against online gambling in any way then getting paid is often a long process that can lead to a whole lot of frustration. It's the age old argument in that, "they are quick enough to take my money, now where's mine when i want it?" The problem for offshore sportsbooks is that they need to disguise the payment in some way so that it doesn't look like it's coming from an offshore gambling company. Basically they have to find a company who will do this on their behalf. The money is always paid, but it can take some time. Here is where honest sportsbook reviews can play a part or even a book that comes with an endorsement from a friend. Another issue is the amount you may cash out at one time. There may be restrictions in place that allow a maximum withdrawal amount and this will always depend on which book you are using. Last thing on pay outs is that you need to look out for cash out restrictions that are attached to bonuses. If possible speak to a rep or at the very least read through the terms and conditions that are attached to the bonus. It may be that you haven't met certain criteria and are unable to cash out the amount you want.

In Summary

As mentioned it is always worth getting a recommendation from someone who uses a particular book and has been through the withdrawal process and come out the other end a happy gambler. Look for a solid book where cash is concerned, a book that has some pedigree and has been around a while. Read terms and conditions on every single bonus that you are thinking about taking and lastly, gamble responsibly.