The risks associated with new and unproven online sportsbooks
Players sometimes delude themselves into thinking that there is no risk in trying out a brand new online betting site because they've seen them advertised on gaming forums or mentioned by players in a favorable context.
The unfortunate reality is that any just launched online sportsbook in an unregulated industry spells potential disaster to player bankrolls, as this article highlights.
When playing with a new online sportsbook with a launch date of 2014 or later that offers little transparency and has no track-record of doing right by players to fall back on, you face the following scenarios:
Greater likelihood of slow-pay complaints
When online sportsbooks with valuable domains such as Sportsbook.com (ag) cannot manage to pay on-time, chances aren't so good for a start-up in an unregulated jurisdiction.
No proven history as bookmakers and thus no qualified risk management
Sportsbooks that throw the kitchen sink at the player - peddling say reduced juice, an attractive sign-up bonus, plus free transactions, a dedicated account manager, and the whole 9, are often overcompensating at the expense of leaving themselves vulnerable. Sharp sports bettors routinely pounce on new bookmakers and figure that books with a shaky foundation will pay when new to avoid complaints and an immediate blacklisting; having inexperienced risk management in place simply guarantees disaster.
No reliable KYC
Know Your Customer or KYC might be somewhat of an annoyance to players, but the fact is it helps to curb fraud, establishes compliance, and weeds out the shot-takers from the legitimate players. An online sportsbook that cannot keep a clean house cannot properly serve their guests, guests being the legitimate players who are looking to have a fair chance at winning and get a quick payout. A new online sportsbook is far less likely to have a formidable security program in place and may be forced to pass down processing costs or delays to the good apples, all because their administrative ducks are not in a row.
Online sportsbooks that are brand new are a clear risk for players, and players that are busy enough trying to beat their bookie predicting the outcome of NFL and College Football games would do well to stick with the reputable, battle-tested best online sportsbooks.