How Odds Traders Set Their Prices
We explore how odds traders set their prices at the bookies, explaining what implied probability and overround means, as well as how exactly traders assess these probabilities. We also take a look at why odds might change over time leading up to a sporting event, hopefully giving you a greater understanding of odds in the betting world.
Gambling Ombudsman & How to Complain
Whilst there is no official gambling ombudsman at the time of writing, customers can always make official complaints to the Gambling Commission, the Independent Betting Adjudication Service, and also the Advertising Standards Agency, depending on the issue.
Bookies Balancing Bets
Whilst the bookmakers take precautions in attempt to balance their books, such as adding an overround to bets, it's perhaps impossible for them to truly 'balance their books'. The bookies' overrounds are typically big enough to allow for imperfections, so whilst the books may not be perfectly balanced, bookmaker margins allow them to stay in business.
Do Betting Sites Share Information About You?
Every betting site has a different policy when it comes to sharing information about people who sign up to their platforms. It could be that they share with partnered betting sites, trusted third parties, regulators or law enforcement. Thanks to GDPR, however, you are able to unsubscribe from unwanted mailing lists easily and, for the most part, your information is kept within the betting group.
Verifying Your ID at the Bookies
Bookmakers want to ensure that the punters betting with them are of the legal age, so one of the steps involved with creating a new account is verifying your identification. Additionally, sometimes additional documentation may be needed to prove your source of wealth.
Dormant Accounts at the Bookies
We take a gander at inactive customer accounts at bookmakers and what happens to these so called 'dormant accounts'. Whilst each bookmaker sets out their own specific policies in their terms and conditions, generally, most are labelled dormant around 12 months of inactivity. Bookmakers must give punters 30 days notice and also make an attempt to return the balance before they can take an admin fee.
Do Bookies Credit Check?
Placing bets with the bookies does not directly affect your credit score or your ability to get a mortgage so long as you are playing well within your means. However, if your betting life is affecting your other finances, your credit may very well be indirectly affected. We take a look at steps you can take to separate your betting activity from your main accounts, as well as what exactly bookies look into when you first sign up.
Limited Accounts & Banned Bonuses
Only betting with bonuses, betting on selections where the bookie's odds are out of line, and betting on large amounts in niche markets are just a few of the reasons that may cause a bookmaker to limit your account. Here we run through the reasons why your account may have been limited or a bonus banned and advise on next steps.
How Betting Sites Make Money
Bookmakers make money from bets by setting odds that enable them to make a steady overall take home. With the overhead costs of running a business, hiring staff, maintaining their shops and websites, bookmakers need to make money in order to survive. Whilst bookmakers may make an initial loss on free bets in the short term, in the long term, attracting new loyal customers is more important to them.
Why Debit Cards for Free Bets?
Credit cards were banned as a deposit method in April 2020 in an attempt to stop problem gamblers from spending money they do not necessarily have. Debit cards, however, are a trusted source of funds, as the process of setting up a bank account involves thorough identity checks and you can't bet with more money than you have.
Rules Bookies Have to Follow
In the tightly regulated world of gambling, there are many rules and regulations the bookmaker must follow in order to protect their customers. If the rules are not adhered to, it could mean huge fines or, even worse, they can lose their license. In this article, take a look at what the bookmaker has to do behind the scenes.
Betting VIP Schemes
Betting VIP schemes range from your average loyalty programme with tier points that anyone can join to invite-only VIP schemes for specific individuals who perhaps have a high turnover. In this article, we compare the two and take a look at how these individuals get invited and what perks you may receive as betting VIP.
How Do Betting Exchanges Work
Here we detail everything there is to know about betting exchanges, including how the wagers actually work, queuing for better odds, whether the prices are better at exchanges than with bookmakers, why liquidity is important and what offers you might find at an exchange.
How Old Do You Have to Be to Bet Online?
In the United Kingdom, gambling is heavily regulated by the government and you have to be 18 in order to gamble. Other countries around the world, however, have different age restrictions, whilst some outlaw gambling entirely. In this article, we focus in on gambling in the UK and detail some of the most recent gambling acts.
How Much Do Odds Vary Between Sites?
If you're wondering if odds vary between bookmakers, you've come to a good place. In this article, we examine the top bookmakers and compare their odds, margins and payouts across multiple sports to see if any one is is better than another. We also explain how to calculate bookie margins.
Cancelling a Bet After It Has Been Placed
So, you've placed a bet and now regret it. Unfortunately, once you've placed a bet, it's unlikely that you can simply cancel it. However, if you've made a mistake or have changed your mind, there are a few options of things you can do to try to resolve it, including contacting customer services or cashing out. We also explain more advanced techniques, such as laying or dutching.
Long Gone: The Bookies Who Have Closed or Left the UK Market
With the ever changing legislation of betting laws in the UK, plenty of bookmakers have packed up shop and left the UK market. We take a look at why they've done this in more detail and also have a look at the bookies who have close down altogether or perhaps joined forces and rebranded.
What Happens When a Bookie Has Their License Suspended?
The UK's gambling industry is heavily regulated by the UK Gambling Commission, but happens to those sites that have their license suspended? We examine some of the recent suspensions in the industry and what ultimately happens to those companies.
What Happens If Your Free Bet Is Voided?
Bets are sometimes made void for various reasons like event cancellations, player injuries, bookmaker errors, etc., but what happens if that voided bet was a free bet? We explore what happens and how to avoid the void bets in the first place.
What are the Best Low Stakes Betting Sites?
Here we take at the reasons for placing a low stakes bet, as well as exploring the minimum deposit levels & stakes by bookmaker. But just because a bet is low stakes doesn't mean there haven't been any big wins!
Do You Have to Pay Tax on Gambling Winnings?
Whilst you don't have to declare any winnings to HMRC or pay any direct tax, this doesn't mean that the government doesn't take its fair share in one way or another.
Biggest Betting Companies in the UK
Defining the biggest betting company in the UK is a challenge in itself, as many of the bookmakers aren't necessarily based in the UK and there are many factors to consider, such as revenue, turnover, number of customers, etc. We examine the different factors and take a look at some of the UK's biggest in the business.
Responsible Gambling
All bookmakers must comply with Responsible Gaming by offering various safety measures to help curb problem gambling. This includes options to self exclude from the sites for anywhere from 6 months to indefinitely, shorter cooling off periods and placing daily deposit limits.
High Stakes Betting
Each bookmaker sets out its own rules for high stakes betting maximum bets, which will vary by the type of sport and also varies depending on which country you're betting in. In this article, we give you the low down on high stakes betting and we also take a look at some of the biggest bets ever made.
Do Bookies Have to Pay Out By Law?
Whilst a bet is legally binding according to the Gambling Act , there are some circumstances in which the bookie does not have to pay out by law. Some reasons include palpable error (an error with pricing), when bets are accepted in error, a problem with a free bets or an offer or a problem with the terms & conditions.
Can You Bet Online With a Credit Card?
Credit cards and gambling were always a bad mix, often attracting large fees from the bank. It's also never wise to play with borrowed money. The UK Gambling Commission clearly thought the same and as of 14th April 2020 it is no longer legal.
What Happens When a Bookmaker Goes Bust?
Unfortunately the unthinkable does happen from time to time and every now and again a betting site collapses. But what happens to your bets and loyalty points? And most important, is your money safe?