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How to prevent the bookmakers from “stealing” your money



While online betting is a safe, secure and regulated enviroment nowadays, there have always been (and will always be) reports about punters having their money ‘stolen’ by certain sportsbooks circling the betting forums and websites. Some of you may have already experienced being ‘cheated’ by the bookies. This article aims to shed some insight about account security and punter responsibility.

Prevent bookmakers to steal your money

While I am not trying to defend the Bookmakers, I have rarely seen a situation in which a sportsbook was truly legally responsible for a ripoff, and even then the testimonies of the victims were questionable. Let me repeat myself: legally, not morally. In about 10 years of online betting, I have never experienced a single problem in my betting activity, aside from some small bonus issues in my early days and some limitations here and there. All this while with certain sportsbooks I was / I am betting big, also being a winning punter. While I am not trying to make myself an example, and nor do I feel that my personal experience is an irrefutable standard, I think that I am in a position to accurately depict how things work.

Firstly, you should know that the bookies have the legal right to suspend accounts and the funds associated with them. That being said, let`s see which are the usual motives for account suspensions / closure and fund blocking and how can you avoid any problems.

1. Duplicate accounts (more than 1 account per person) and bonus abuse (claiming more bonuses on different accounts).

What to do? Obviously, don`t do it. But it can also sometimes be an honest mistake. Make sure to contact the bookmaker if you feel you might have opened an account with them in the past. Ask if this is the case, and if so to either suspend your old account (so you can open a new one) or reactivate it so you can use it without opening a new one.

2. Browsing your account from different computers / IP`s

What to do? There`s no problem if you browse your account from different Ip`s that were not used by anyone else. But if you access your account, let`s say, from a friend`s phone, who also has his own account at that respective bookmaker, make sure to send an e-mail informing the sportsbook about the situation. When I was playing at Betfair from work, I notified them about this, thinking that someone in the network might also have an account with them. They thanked me and confirmed that this could have been a case of suspected fraud in certain circumstances. I like to think that this kind of approach kept me out of trouble.

Sportsbook account and funds security

3. Fraud suspicion

What to do? If, by a bookies or payment system`s mistake, you end up with more money in your account, either withdraw the money immediately and say good bye to that certain sportsbook forever (hoping they don`t take legal action – which they most likely won`t), or inform them about the mistake.

4. Real fraud

Obviously, you can expect the worst if you knowingly try to embezzle or cheat.

5. Be cautious with smaller bookies (update added July 2017)

If you are betting at smaller bookmakers, avoid hedging your bets (ex: betting on both competitors), and avoid betting large sums of money on low level events like tennis ITF’s – especially live and if you find unusually high odds at that particular bookmaker. Of course, you shouldn`t be force to take this precautions, but it`s better to stay on the safe side and don`t give bookies the chance to interpret the T&C’s in their favor – and potentially block your funds.

I agree that many times the actions taken by the bookies are not morally correct, and punters often state that “they shouldn`t do that, even if its in the Terms and Conditions”. That may be true, but it is every punter`s responsibility to take care of his/hers money. It`s like getting hit by a car on the crosswalk on the yellow light. Morally, it`s the driver’s fault, and arguably even legally. However, that really doesn`t make a difference for you, as it is your life or physical integrity that has to suffer. Dying with justice in your hands is of little to no comfort.

Bottom line: it`s your money, you owe it to yourself to take any possible action to protect it. Read the terms and conditions, discuss with the bookies when you feel you may have done something even remotely wrong and you should be completely safe with your funds and account security. Believe it or not, no bookmaker will jeopardise their brand and long-term image by stealing a couple of bucks. This also applies, for example, to welcome bonuses / promotions. Make sure to know exactly what kind of rollover requirements a bonus has, or you might end up howling that the bookies ripped you off, and no one will hear you.

Of course, make sure to open accounts with trusted sportsbooks, either established companies or bookies recommended by someone you have faith in. You can visit our trusted bookmakers list, as these are carefully reviewed sportsbooks and we will also try to assist you in every possible problem you might have, if you register through Betdistrict.

If by some chance you will find yourself cheated by a bookmaker, you can find help or take legal action at websites like Gpwa.org or at the Comision that regulates the bookmaker in question (like Gamblingcomission.gov.uk or Alderney). However, I have to say that you will rarely come up with a favorable decision. You can also contact us, and we`ll try to help you if we can, we`ll see if something can be done.

About Rostick

Former bookie & water polo player. Rugby Union expert. – EDITOR INFO & STATS

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13 Responses

  1. Nice one,you are a pro punter,more football tips pls!

  2. This is my Favourite betting advice site. I visit here every day as I can find here much and true information about soccer games. I really appreciate your work .. especially Articles like this about Betting.

    • I appreciate it mate, I`m really happy you guys like the website. I will strive to improve the tipping quality and quantity. I`ll give you a ‘spoiler’, until Chrismas I will try to compile an interesting article about basketball betting with insight from a professional player.

  3. Rostick and ocean i dont know if im right bt i believe thers some tipsters here on internet who works for bookmakers giving us wrong tips. with quality analysis of yr tips please dont change by starting working for them also bcoz honestly i rely on this web for real tips

    • I am an old dog in the industry and even worked as a bookie myself for 1 year a few years ago, I can tell you one thing: there`s a 99% chance that there is nobody working with the bookies to give wrong tips. The bookies don`t care too much, they make money anyway from the “juice” of the odds, most people will lose anyway, it`s not worth the trouble for them. We actually have one tipster who as far as I know works for a certain bookie (won`t give his name) and his record is amazingly good.

      Indeed the tips were very poor lately and just this evening I took measures by eliminating some tipsters and I`m keeping an eye on a couple others. I won`t stand by anymore, I`ll keep taking measures if needed and picks will improve.

  4. of course I have nu business with the bookies and I will strive to improve my tips as well, because I am way sub-par myself. and the same goes for my friend Ocean. Quality of previews will not decrease.

  5. Recently placed a Rugby League bet on the whole season. Taking Saint George at +14. Placing $50 on the bet at $15 . 2014 regular season Ends finding St George just 10 points from the top of the ladder meaning I beat the handicapper. Contacted Sportsbet 2 weeks pryor contacting an agent and they confirmed it”appears ” it was a winning bet but the season had to be completed to submit payout. I waited out the season . .only to find that the bet was against ALL NRL TEAMS. So not only did I have to top the ladder but I had to beat the whole other 15 teams ????

    I asked them to send me the original market. . .they refused and refuse to payout. If they are not guilty . .Why Don’t Sportsbet be transpartent. Who do they think they are. . ??? Don’t be fooled in thinking they are fair and transparent. they are a MONEY MUNCHING BUNCH OF ***holes who will eventually face a PUBLIC LEGAL CHALLENGE ,

    • not really familiar with the Rugby League so strictly regarding the bet I can`t make too many comments, but from what you are saying you are right. You should take all action possible, maybe visit gpwa.org and tell the guys in the forums this, they might have a clue what you should do. You could be wrong of course, but I agree they should provide you with the original markets. Unfortunately we don`t promote that bookie so we don`t have any contacts with them and can`t assist you (I know you didn`t ask for it, just saying).

  6. I remember one time ,years ago i placed a bet at Gamebookers. The game was from Snooker,Mathew Stevens i will never forget .I beted 500 euro Around 16:00hour.The game was scheduled at 21 00 . At one time i noticed that the game started at 18:00. Stevens won and after the game was over my bet was voided. So they void my bet after the game was played not before or during .And i maked the bet before the match started. I felt like i was robbed. I send e mails on then.They told me the bet was void because of the error of the time game and i also asked whi they didn t void it before the game was played, i don t think if the bet were lost i will still got my money back. I was so angry and frustrated .Sadly i didn t now back then what to do more.That was my last bet at that bastards. They stoled 500 Euro from my.And for them that s nothing for me was much money

    • Thanks for posting your story. I don`t want to be the bookies advocate, but they rely on a software program to determine if starting time of matches modify. Very often, they don`t find out before the match (especially years ago, now things might have changed with Betradar and improving technology).
       
      One thing I can say is that it`s very unlikely (borderline impossible) that they ONLY voided your bet. They probably voided all bets on that match. Clearly unfair to you from what you say, but I`m sure they voided losing bets as well – or maybe it was something in the T&C. Bookies really don`t go around setting outcomes of bets for a particular user, especially when the amount is not relevant to them. They can`t afford to lose potential lifetime users for 500 Euros.
       
      Again, I`m not looking to protect bookies or something like that, just trying to show the problems from multiple points of view.
       
      Gamebookers was my first online bookie, I never had bad experiences with them until they limited me to 50 dollars / bet a few years ago :).
       
      Unfortunately stuff can happen no matter what you do. We can only minimize the risk.

  7. I know am new to this but i want to trust that you can give me a tip that can make me rich in this busines. I trust you,

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