Trustworthy and reliable online bookmakers
Recognizing trustworthy and reliable bookmakers
How do you assess if a bookmaker is reliable? How do you know that your money is safe? What assurance do you have that online bookmaker pay you within a reasonable time? Questions that are very important for anyone who gambles online. There are over 500 online bookmakers worldwide. Some of them are well-known brands; many are not. How do you separate the wheat from the chaff? Who are the trustworthy and reliable bookmakers? betoptimizr cannot guarantee 100% reliability for all, but we will try and help you put your mind at ease.
Below you will find a list of questions, in order of importance, that will help you find a trustworthy online bookmaker.
Is the online bookmaker licensed in your country?
When the local Gambling Authority has licensed an online bookmaker, the bookmaker in question is considered reliable. Most online bookmakers will list their license details at the bottom of their homepage. In many cases, online bookmakers will be licensed in various countries in order be able to operate worldwide.
The UK Gambling Commission and the Malta Gaming Authority are two well-known regulators. Licenses from these two jurisdictions are considered to be very reliable. The same applies to permits issued by the official gambling authorities of Australia, Belgium, Denmark, Italy, Spain, etc.. betoptimizr only lists licensed online bookmakers.
Is the online bookmaker supervised by an official body?
Tier 1: Strict supervision, amongst others:
Regulatory bodies (Gambling Authority) should oversee online bookmakers in the jurisdiction where the license resides. betoptimizr recognizes two different tiers of supervision.
- Alderney (AGCC, Alderney Gambling Control Commission)
- Australia (Gaming Authority)
- Gibraltar (GBGA, Gibraltar Betting, and Gaming Association)
- Isle of Man (Gambling Supervision Commission)
- Malta (MGA, Malta Gaming Authority)
- United Kingdom (Gambling Commission)
Online bookmakers that are supervised by any of the above are considered very reliable.
Tier 2: Moderate supervision, amongst others:
- Costa Rica
- First Cagayan Philippines
- Antigua & Barbuda
The supervisory bodies of the jurisdictions of tier 2 are less strict than the supervisory bodies from our first tier. betoptimizr considers online bookmakers supervised by gaming authorities from level 2 therefore potentially less reliable. That doesn’t necessarily mean they are, but you should take extra care, before opening an account.
If an online bookmaker is not regulated or supervised by any of the governing bodies named in tier 1 or tier 2, we advise you not to place any bets with such online bookmaker.
Tier 3: Is the online bookmaker a public company?
The stock exchanges around the world list many online bookmakers. In some cases, as part of a larger group (i.e. Betsson, Unibet, GVC). That can give quite a bit of comfort when it comes to reliability and trust. Listed companies carry a high profile and are forced to inform their investors publicly. For instance when an annual report is published online each year. Reputable audit firms like Ernst & Young, KPMG, PWC, and Deloitte audit companies annually,
Online bookmakers that list on the stock exchange are considered reliable by betoptimizr.
Tier 4: Is the online bookmaker is a well-known, reputable brand?
Online bookmakers that have been around for a long time and/or are very active with their marketing and branding activities are usually reliable and trustworthy. Big marketing campaigns will not only draw the attention of the players but also from the Gambling Authorities and other governing bodies. Unlicensed bookmakers that instigate marketing campaigns will, without a doubt, expose themselves. If an online bookmaker sponsors a well-known football club or sporting event you can be assured the bookmakers in question has nothing to hide.
Tier 5: Is the online bookmaker a member of industry watchdogs?
Industry gambling watchdogs make sure that online sports bettors are protected. If an online bookmaker is a member of such an organization, the reliability of that bookmaker is higher. Examples of industry watchdogs are:
ESSA is a non-profit organization and aims to protect betting and sports integrity. ESSA provides an early warning system that combats match-fixing. All ESSA members must be licensed and supervised by public authorities such as gambling regulatory bodies.
The Independent Betting Adjudication Service (IBAS) acts as an impartial adjudicator on disputes arise between an online bookmaker and its players. If your bookmaker is a member of IBAS, you can appeal IBAS if cannot agree with your bookmaker on a particular dispute.
eCOGRA is a testing agency, specialized in the certification of online gaming software and systems. A certification by eCOGRA means that the software systems of the bookmaker have the right qualifications.
Tier 6: Does the online bookmaker accept bank transfers?
If you can make deposits to your online bookmaker through a bank transfer, you are probably betting with a reliable bookmaker. International banks are not keen to work with unreliable (betting) companies. Compliance within the banking industry is stringent.
Conclusion: Make sure you bet with a reliable and trustworthy online bookmaker
The criteria we have listed above can help you determine whether an online bookmaker is honest and trustworthy or not. Make sure you check if your bookmaker has a license in your country and that your country-specific Gaming Authority oversees the bookmaker in question. That is by far the most important criteria. betoptimizr tries hard to list only those bookmakers that are licensed in your country, making sure you win bigger at trustworthy bookmakers. And remember, reliable online bookmakers, do not necessarily pay out more.
Make sure you are not throwing away money. With our free betoptimizr scan you can find out in 20 seconds what savings you can make by switching to the bookmakers with the highest payout.