What is the risk of playing with an illegal bookmaker

You can gamble legally and safely in bookmakers with a license. The Gambling Law has several main goals, including reducing the gray market, increasing tax revenues to the state budget and protecting players. Internet service providers are required to block the websites of betting companies registered outside the country. 

Payment operators, in turn, in light of the law have the right to block the possibility of depositing money to these illegal operators. Remember that only legal betting operators protect personal data and money. You should not risk losing your winnings and deposits.

 

Fines for playing in betting shops without a license?

According to legal regulations, placing bets in betting shops without a license is a tax offense, punishable by a financial penalty. If this is proven, the player must return 100% of his winnings. In addition, participation in foreign betting sites is punishable by a fine. Although practice shows that not a single player has been fined. 

At a legal bookmaker registration procedure should look as follows: 

  • providing personal data for new user identification;
  • checking the bank card;
  • Fill in all the necessary data. 

Some bookmaker companies allow people under the age of 18 to play (without checking), thereby violating the law. 

 

Illegal betting – other consequences

Only playing in a legal bookmaker’s office is a guarantee that taxes on every bet made will go to the budget. Why does it matter? Because the state budget finances the building of roads, public education and health care, as well as the functioning of the police and the army.

It is important to understand that betting with bookmakers without a license can lead to loss of money or identity theft. Such entities are not controlled in any way by the law, and they cannot be held liable in court if they fail to pay their winnings. Meanwhile, legal bookmakers must be fully solvent and provide players with the security of money and personal data.

 

Ilegal companies vs. legal profits

New players do not realize that the level of offers from legal and illegal bookmakers has become equal. This applies to odds, welcome bonuses, promotions for new players and the functioning of the service.

High odds are a very important element. Virtual sports and LIVE betting have the highest odds. 

The list of advantages of playing with legal operators is bigger than the scale of risks and dangers of illegal foreign bookmakers. Play legally and do not expose yourself to risks. 

 

Every foreign bookmaker is illegal?

Not all. Several foreign betting shops are licensed to conduct betting activities. There are no legal or financial consequences for playing at these foreign betting shops.

Payment systems

The easiest way for the state to regulate the activity of illegal bookmakers is through payment systems. A company which has obtained an official license to conduct its activities will offer better and more comfortable conditions. Illegal bookmaker, in turn, has to face restrictions. 

Illegal betting companies, in order to find a way to quickly deposit, use several intermediaries. Each of them asks for a different commission. In rare cases, this commission is paid by the bookmaker. That is, for a simple deposit you may lose 5% or more of the original amount. Not to mention the winnings. Legitimate betting company doesn’t charge any commission for depositing with a bank card.

Leave a Reply

Your email address will not be published. Required fields are marked *

8 + = 10