How to open an account with a bookmaker online
What is an online bookmaker?
There are different kinds of online bookmaker. There’s the traditional high street bookie who has gone online after decades trading in shops - the likes of Ladbrokes, William Hill, Paddy Power and Coral pay testament to the value of a good brand when it comes to online betting. Then there’s the online-only bookmaker, and we can break these up into categories. We have the online bookies that do horse racing - and those who don’t. Those who don’t are usually of Asian origin (there’s a clue here - numbers in their name), and then there’s the online bookies who take bets on horse racing such as Blue Square and Bodog. They have no high street presence, but they’ve been around since the start of internet gambling.
Betfair is a breed apart, as there’s no bookmaker - it’s peer to peer gambling. You can be the bookmaker if you want, and you can offer odds to other gamblers - but you could end up losing more than you thought.
How do I get a bookmaker account?
Most bookmakers allow you to sign up without any checks. All you have to do is visit their site and fill in some basic information, from your name and address to username and password. You can then enter your debit or credit card details to deposit funds. Now, some bookmakers will allow you to use other payment systems such as Skrill (Moneybookers) and even PayPal. It depends where you are - in some countries, they won’t let you do this because unfortunately there are people around the world who like to scam bookies.
How can I limit my gambling?
All good bookmakers will give you the option of limiting your daily gambling amount - there is a simple option under Settings which lets you cap the maximum amount that you bet in one day, and changing that is difficult.
How do I withdraw money?
To withdraw money, you can simply withdraw back to the card you credited your bookmaker account with. However, strict checks mean that you have to provide the bookmaker with photographic ID before you are allowed to withdraw any money. In fact, some bookmakers will suspend your account unless you send photographic ID with your age on it.
What about spread betting accounts - is that different?
Indeed it is - spread betting accounts can involve a credit check. This is because you could stand to lose (or win) a lot more than you initially have in your account, and they will need access to your account to debit any funds should you suffer heavy losses. Spread betting is quite risky in this respect, so you need a good grasp of how much you stand to potentially lose.
published: 10th March 2012 by Free Bet Bookmaker
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