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How Internet bookies and exchanges have improved the betting experience
Internet bookies and betting exchanges have succeeded at the expense of the traditional bookmaker with a more convenience for the average punter
Published on 29 June 2019
Updated on 29 June 2019
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The overall betting experience has changed a great deal over the last twenty years and the growth of online services means that internet betting has never been more popular.
If you’ve been online for a while, you would have witnessed the dawn of internet-based sports betting sites and their progression from the ‘back-waters’ of the internet into the mainstream.
You may have watched and placed bets on modern online matches and wagered during the early days of HTML websites using the early mobile sites to modern mobile apps and web apps.
The good old brick and mortar betting experience
The traditional brick and mortar betting sites and their online counterparts have been trying to outdo each other from the very beginning of online betting.
Traditional bookies have recently tweaked things a bit and they now have stacked the odds in favour of the punters, which draws people into their different betting platforms.
This was when bookies decided to improve their online services and draw punters even further into their online betting portfolio.
That is why traditional bookmakers are still able to maintain quite a following despite the growing number of online betting exchanges and internet bookmakers.
However, most online bookies will freely admit that there is one thing that they can’t offer that traditional bookies have the upper hand. And that is the live experience and thrill of betting on the live action.
Traditional bookies can offer that unique experience of watching the action live; standing in queue to place your wagers, enjoying the game with your friends, and then walking up to the counter to collect your winnings.
The ability to collect your betting returns in your hands after only showing your ticket to the physical bookmaker is something completely different to the online bookmakers.
They give you your winnings right in your hands. No questions asked, you must show them your winning ticket. There is no need to have a verification process required and it won’t feel like you’re going to the bank to withdraw your money. It’s just a completely different experience.
Let’s examine several different areas where there is a significant difference between the physical bookmaker and online bookies.
Online betting companies provide a fairer way to wager
Now, even though internet bookies and betting exchanges can’t give you the thrill of live betting action, they have in their own way made the landscape more interesting. For one thing, they have created a way for everyone to wager at fairer odds…
Traditionally, if a punter loses then the money he or she wagered is usually taken by the bookie as a profit. That’s basically how they make their money.
Online bookies and betting exchanges are different; most make profits by charging a commission to both the winning and the losing punters.
That means they don’t take a cut from anyone’s winnings. In other words all of you who are playing or betting at a certain game are in effect betting against each other. The winning party of course pockets all the money, as its winner take all!
They made everything more convenient
Are you an occasional bettor or even a weekend only punter? Do you have to drive a certain distance to bet?
Well, what if driving isn’t a good idea (the weather maybe bad, your car may breakdown, your planned backyard barbecue with your friends does not go according to plan, etc.). But the game is about to start!
So, what do you do?
If you have registered an account with an online bookmaker, you’re really waiting for the registration process to complete before you can start to use the service. This means your login details are required before you can login to the bookie website or mobile app and eventually place your bet.
That’s how easy it is. You can then go have your barbecue or whatever it is you have going for the weekend. You can even watch the game on TV while watching for your skewered food to get cooked.
Is online better a 'safer' way to bet?
With online betting you don’t need to leave the house. You don’t need to pick up your phone and talk to a bookie. No physical money needs to exchange hands. And there is no chance that someone can take your money.
Betting companies on the internet have made things safer. However, there are people who may still doubt if betting online is safe.
Here are some of the doubts that they may have:
• Maybe this online bookie or website will disappear and the owner will run away with all the money
• Will my banking and personal info be compromised?
• Will they actually pay me my winnings?
These are some of the most common fears and concerns that people have. Rest assured they’re unfounded. Online bookmakers don’t want to have their reputations tarnished and they usually go out of their way to ensure the security of your info and transactions are safe before, during and after your wager.
When is the last time you heard about a bookmaker or betting exchange with compromised financial security? Exactly, accepting wagers and paying out money is the life blood of every bookmaker and therefore, they must ensure they provide their customers with a deposit and withdrawal system, which inspires confidence.
Betting odds are sometimes better online
The odds are also usually much better online. Just remember that the better the odds the bigger will be your potential returns for each bet you make. Of course, certain bets are riskier than others.
You can use accumulator bets and other special betting options and they will carry a much higher-risk. The odds may be better, but if you keep taking riskier bets then you may end up losing a lot of money before you make your big score.
Just go with your risk-taking appetite.
More options for deposits and withdrawals
Technology is a lot better nowadays. Back in the day you were stuck credit cards and cash as deposit options. Nowadays there are plenty of electronic voucher systems and online baking options that you can use.
You can use PayPal, Neteller, Skrill, Ukash, and lots of others. They can be used as deposit options and withdrawal options as well.
Loyalty points and bonuses
One of the perks that you can get from online betting sites are loyalty points. The more you play and risk wagers, the more loyalty points you stack up. These points are convertible to cash or other bonuses.
The cons and disadvantages of online betting
There are no guarantees in online betting, which is the same thing you get when you go for traditional bookies. You still need to learn how to make certain bets and when to make them. You also should learn to be unique and not follow the crowd.
Here are some more downsides:
• It may encourage risky behavior—remember study things out before you take risky bets.
• Pay outs have a longer duration.
• No direct personal interaction
You must make the best choice for you
You must weigh the pros and cons of online betting, trading or punting. They have made the landscape so much better, but they also have downsides that you should take into consideration.
Tags: Bookmakers, betfair
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