Ten Sportsbook Rules Casuals Should Know

Dipping your toes in online betting can be super exciting. Yet, like any other, this activity includes various pitfalls that can cause issues for those looking for an added dose of excitement in their daily lives. To maximize your Internet betting enjoyment, here we are, again, smarting you up to this hobby by giving you ten rules that most casual online bettors may not know.

Almost no Sites Allow Third-Party Deposits

If you are hoping to fuel your account using someone else’s credit/debit card or e-wallet, know that there is a high likelihood that such a deposit can get rejected. That will happen because of anti-fraud measures that seek to protect against unauthorized card use and anti-money laundering (AML) regulations. Naturally, security concerns also exist, as well as ethical and responsible gambling ones. Using another person’s card can cause the initiation of chargebacks, lead to disputes, and more. It may also stimulate people who have no funds but a gambling compulsion to keep betting, feeding their addiction issues and financial difficulties. Because of the nature of crypto wallets, this is a non-issue for crypto gamblers and is something that only concerns those who utilize fiat transaction methods.

Events Must Happen on the Scheduled Date

If a game gets postponed, the bet made on it is no longer valid. That is a rule that virtually every bookie follows, and it is in place to preserve event integrity. If a match gets moved, the circumstances surrounding it get affected. Hence, new odds must get created to reflect them. That ensures fairness. Furthermore, an event occurring on a scheduled date guarantees that bookmakers have the ability to settle all wagers accurately. That clarity is essential for the wagering processes. Each bookie has procedures for handling postponements and cancellations and how these impact parlay/accumulator wagers. In most such situations, canceled games get an automatic 1.00 odds in accumulators. Yet, some sites may have a condition stating that all legs must get completed for an accumulator to be valid. So, this varied depending on the selected platform.

You Cannot Usually Wager on the Moneyline and the Spread

As a rule of thumb, no sportsbooks accept what they call correlated plays. That is when the outcome of one part of a wager contributes to the result of another. If that were possible, bookies would get more substantial exposure to one event than they would like. It exposes operators to action heavily leaned into one director, opening them up to potentially massive losses. There is also the complexity of settling such bets, as most bookies prefer to simplify settlements. And they want to do everything in their power to minimize arbitrage opportunities.

You Cannot Bet the Spread and the Total

Veteran gamblers call this middling or crossing over. That can generate confusing situations, reduce potential profit, and increase the overall risk of loss. Sportsbooks discourage this practice to maintain the integrity of markets and prevent gamblers from exploiting potential loopholes to gain profits.

Substantial Odd Changes Can Lead to Bet Rejection

If the odds on an event shift dramatically one way on account of something super impactful happening, then a bookie can reject further bets on that game. Whenever odds dramatically move in one direction, that can be an indication of suspicious nefarious activity, such as insider info or potential match manipulation. Therefore, when a bookie sees a sizeable movement in odds, they can block further bet-acceptance on that event. Customarily, once a sportsbook accepts a wager, that gets considered a binding agreement. Still, specific scenarios exist where a bookmaker may void bets. That usually transpires when an operator notices fraudulent activity or suspects it, and in cases that involve technical glitches, of a mistake in offering odds.

Please Follow the Community Guidelines

If a site has a public chat, users cannot say what they want in that communication window. Things like hate speech and cursing are off-bounds virtually everywhere. Making derogatory comments to other users or the site staff can also lead to problems like account suspension and platform banning. So can using avatars with questionable content, among a slew of other things. Consequently, it is best for anyone to familiarize themselves with a hub’s community standards before engaging with its team and other users there through whatever means available. Attempts to manipulate social media contests, such as giveaways, can also land users in hot water.

Learn About Bonus Restrictions

Know that not all sportsbook bonuses are available for users from all regions and gamblers who utilize all payment methods. It is best to carefully read through each considered offer’s terms and conditions page before claiming it. 

Massive Wins May Evoke a Source of Wealth Check

Yes. As you probably know, Know Your Customer Policies are almost mainstream these days, and the majority of crypto gambling sites we list implement them. That means that at one point or another, at a high-end crypto bookie, you must disclose who you are in the real world by supplying various identity verification documents. Some sites may also ask to see where you have gotten your funds when you have won big. That is traditionally a measure imposed by fiat platforms that get regulated by country-specific bodies. Nevertheless, some internationally licensed ones may also enforce such a rule. Keep that in mind. If you bet big or win big, an operator may get interested in where you get your funds. That means a pay slip and some banking info may get requested. They do this to prevent fraud and illegal activities.

You Must Report Winnings for Taxation

Your chosen gambling hub will not do this for you. It is your responsibility. That holds particularly true in the crypto sphere, where government authorities have no insight into how you are moving funds to and from your digital coin wallets. If a moment comes when you convert these cryptocurrencies to fiat ones, you will raise red flags, get asked where this money comes from, and get hit with appropriate taxes on them. Accordingly, it is best to keep crypto wins in cryptos and timely report all fiat ones, ensuring that you pay the designated taxes on them to avoid legal problems down the line.

Know the Dispute Deadlines

If you check any platform’s T&C page, you will see that it will have a deadline for disputing bets. Once you notice an error/discrepancy on your slip, you should instantly notify your sportsbook’s staff of it. You get a narrow time window to do this so they can properly investigate it. If you do not do this within a set period, you lose the right to complain again or any further about the problem.

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