Everybody should choose the bookmaker on their own preference and in a world where there are thousands of different bookmakers competing, we are sure you will find the one that suits you the best. But, there are some warning signs that shouldn't be ignored no matter how much you like your current bookmaker.
Some of these behaviors may seem harmless at first, but they can cause serious damage in terms of losing money or just be a signal to you to pack your bags and leave the account. Here is the list of 5 reasons why you should change your bookmaker immediately:
1. Payment delays in combination with Caribbean gambling licence
The real truth about Caribbean licences, such as Antigua or Curacao is that, is that not only bookmakers pay less taxes to perform their business around the globe, but they also have “less strict” regulatory system. This by itself doesn't mean this bookmaker is to avoid as we know some reputable bookmakers performing a fair and honest business through these licences.
The point at which you should start to worry is when your bookmakers is rumored to be starting to put transfers to bigger and bigger delays. This itself is a big warning sign as it most certainly mean that your bookmaker is having financial issues. If it is combined with a licence from not very 'reputable' country in terms of making business, it can mean a permanent loss of your funds. Some of these companies who just close their business due to lack of funds might end up opening new business under similar licences and just keeping hold of your money. It is not a common practice, but we have even experienced some banks performing similar action plans.
2. Payment manipulation
The worst behavior your bookmaker may practice is to play around with your payments, with YOUR money. There are several ways how bookmakers manipulate payments. Some of the most common ones are:
- Denial of withdrawal due to “breach of terms and conditions”
This is a common thing for many small bookmakers when a bettor wins considerable amount. Basically they try to find a reason why to deny your payment and they label you as a bonus abuser, arber or for some other type of “cheating”.
- Denial of withdrawal due to “KYC checking”
KYC or know your customer is basically a good concept preventing manipulation of matches in sports and money laundering, but some bookmakers have turned it into a tool of harassment. They keep asking you for different documents, not responding to you until you either spend the money you won or in some other way quit the withdrawal you wanted to perform.
- Withdrawal taxes and fees
Basically bookmakers just like you must pay a certain amount of fees to online payment providers, but that amount is not as nearly high as some of them represent. There are bookmakers that allow first withdrawal in the month to be free, but every next withdrawal depends on the amount of rollover you have performed or is obligated to a % fee.
This kind of behavior not only discourages customers to make a withdrawal on time and encourages gambling addiction, it also works as a bank fee for using their services and can be used to manipulate your true winnings. Good thing is that majority of big betting companies does not implement such terms and fees to their customers.
3. Limiting of accounts
Limitation on accounts come in different ways. Some bookmakers can limit your ability to deposit money, some may limit your ability to bet on certain events. This usually means that they work on their methods how to turn a winning client into a losing one. While limits are not a way with which bookmakers can or do try to 'steal money', but a simply preventive measure to protect themselves, it is a good sign that you should move onto the next bookmaker.
Once you are noticed by risk management service, in 90% of cases your every next bet and move is being carefully watched. This means that whatever method you use to try and win money from that point on, will be exposed and processed very fast.
4. Frequent changes in terms and conditions
Changes in terms and conditions are not unusual practice for any online company, but changes in terms and conditions from bookmakers might be worth of investigating. This is because some bookmaker often change their terms and conditions to put themselves into a better position and undermine the rights of their customers. There can be several reasons why they do this. It could be that they encountered a very bad customer or a group of them and must prevent similar cases in future. Yes, I said it, there can be bad customers also, not just bad bookmakers. Other reasons might be that new management has new policies and want to give themselves more “freedoms” in dealing with their customer.
Anyway, this is solely not the usual reason to change your bookmaker unless you disagree with the changes in terms and conditions.
5. Not following their own terms and conditions
One thing that irritates more than terms and conditions is when bookmaker doesn't follow their own rules. There are some companies that have strange decisions about some bets settlement or account rules. Those are the worst type of betting companies that follow only one rule : House always wins. This can cause serious disputes with that kind of company and it is better to avoid them on first serious sign of manipulation.
With the experience I have in working for betting companies and being a punter myself at the same time, I can tell you that betting companies in general are not “evil”, are not too much “greedy”. As there is a couple of thousands of betting companies, it is only normal for some people to run into a bad type of company. But, in it's core, most of them want to run a decent business that will last for many years and grow along with their reputation.
The truth is that customer is not always right and you can't do whatever you want to them. Also, they are not obligated to accept all your bets and have rights to limit you the same way you would bet with your friends over some other things. It is an agreement between 2 sides and customers do not have God given right to do whatever they want.
There is no hard feelings in this. If a company doesn't want your money, then take your money to someone else. Simply as that. So, if you are experiencing some of these problems mentioned above, take a look at our list of recommended bookmakers.