When you are placing a bet for real money on the sports betting sites, you really want to know at least the basics of what you are doing. Here are some of the most frequently asked questions we receive at Top10SportsBetting.co.uk.
Is it legal to place sports bets in the United Kingdom?
It is perfectly legal for the UK resident to actively place the online sports bet. The rules in the UK are very clear and it is perfectly safe to use any form of online betting. However, for the residents outside the UK the rules and regulations differ significantly, so you may wish to check your local laws before signing up for an online gambling account.
Can I place a bet on the American sports markets using a UK site?
Yes, most of the UK sites (included those we have recommended) have the ability to offer markets and odds on the major American sports, such as American Football, Baseball, Basketball, UFC, and Soccer.
What options do I have to deposit money in my account?
Most of the sports betting sites make it as simple as possible to deposit funds into your account, and accept plenty of payment methods such as credit cards, debit cards, e-wallet services (Skrill, PayPal, Neteller), bank transfer, and cheques. But, the available choices are certain to differ with the different bookmakers. If you only have one or two payment methods to use to deposit funds, make sure to check with the preferred bookmaker to ensure they accept your payment type.
Are the winnings on online betting sites taxable?
If you are a UK resident the short and simple answer it that there is no tax to pay on either stakes or winnings in the UK (if you are outside the UK you may wish to check your local jurisdiction).
What sports or events can I place a bet on?
Most of the sports betting sites offer a comprehensive line-up of sports or markets to place a bet on. At most bookmakers, this can include: Football, Horse Racing, Boxing, Cricket, Darts, Formula 1, Greyhounds, Handball, American Football, Aussie Rules, Baseball, Cycling, Golf, Ice Hockey, Motorcycling, Rugby, Tennis, Speedway, Snooker, Volleyball, and MMA. The market choice can vary with the different bookmakers, so if you can’t find coverage on one site, make sure to look around until you are able to find a suitable site that has the preferred markets or events open.
What is the minimum stake amount accepted by bookmakers?
The smallest bets you can place is certain to depend on the different sports betting sites. But, in general this is usually quite low and can range from £0.01 to £0.10. This small minimal amount is great for those just starting out and means there is no need to place bets you feel uncomfortable with.
Is it possible to use the sports betting sites on my mobile?
Yes, most of the online bookmakers are set-up to be entirely mobile-friendly, and give the option to either visit the less feature-rich version of the site, which usually has a URL like: https://m.ladbrokes.com (notice the ‘m’ in the domain). Alternatively, many of the sites have their dedicated mobile apps that make it possible to benefit from virtually all of the features of the main site while on the go. The apps are available for both the iOS and Android devices and free to download from the official bookmaker’s site or by visiting the iTunes or Windows app stores.
What is live or in-play betting and can I make these bets on all events?
Live or in-play bets can be more fun than the pre-event bets for many, and makes it possible to place a bet while an event or match is still ongoing. For instance, if you are watching a game of football and wish to bet on the next goal, next yellow card, next foul, or final score, this is still possible up to very late in the game. Live betting is that much more exciting, and usually offers a complete list of bet types to try during the match.
It is important to note that in-play betting can be very fast paced and the odds can make sudden and dynamic changes while you are attempting to place a bet. You can’t be certain of your odds until the bookmaker accepts the bet and displays your bet slip. You generally get notified of any potential changes and can decide whether or not to process with the bet.
In-play betting isn’t available on every sporting event; it is usually reserved for the major sports like football and horse racing, and offers plenty of bet types and options.
Is it easy to find out the potential win on a bet?
Most of the sports betting sites make it as simple as possible to find out how much you could possibly win on a bet. For instance, when you make a bet selection and enter a stake, many of the sites provide a bet slip that includes all relevant information to make it possible to quickly see the potential winnings. Alternatively, some of the sites include simple on-site tools to help work out the payouts on the different betting types and options.
Can I change or cancel a bet I placed by mistake?
Once a bet has been accepted by the bookmaker it isn’t possible to either change or cancel and it will remain valid. You are entirely responsible for placing the bets and making sure the details are correct.
How does the cash out option work?
Cash out is a great feature and available on plenty of sites, including Sky Bet and Bet365. It simply makes it possible to take a full or partial return on a bet before the event or match has come to its natural conclusion. The cash out option can be used to either minimize a loss or immediately accept a profit. Once the cash out option is used the bet is instantly closed and any future results either in your favour or against you will not be taken into consideration.
The cash out option is usually available in both in-play and pre-event bets and may apply to single and multiple bets in a wide range of betting markets.
What does the abbreviation SP stand for?
SP is a standard abbreviation used in the horse racing and greyhound racing markets and stands for Starting Price. This is the odds offered at the race track when the race starts in real time.
Is it possible to request odds on an event that isn’t listed on the site?
Even when there are no odds listed on an online sports betting site for a particular event, you still may be able to place a bet. Just get in direct contact with the bookmaker and ask them whether they would be willing to provide the special odds.
Are there any free or special bets on the sites?
All of the online sports betting sites provide a variety of special offers, promotions, and free bets. Special offers and incentives can include perks like getting a bonus at sign up, getting extra on accumulators, getting the best odds matched, and free weekly bets. Every special offer is subject to specific terms and conditions that need to be checked prior to proceeding. The free bets and offers vary widely among the different bookmakers, so it makes sense to shop around to see who is providing the best options at any give moment.
How long do I need to wait for a bet to be settled?
The time is takes to settle a winning bet can vary among the different bookmakers. In general, they all attempt to settle their bets as soon as possible. There may be certain delays if it is necessary to wait for an official result to be confirmed by the sports governing body. Also, for major events like The Grand National when there are literally millions of bets placed, this can slow the settlement process.
Is it safe to get involved in online sports betting?
Online sports betting is entirely safe providing you use one of the well-established and trusted sites that we recommend, such as William Hill, Bet365 and Sky Bet. Similar to any industry, there are rogue operations that you want to avoid. Just make sure to stick with the recommended services, and you will be entirely fine.
Is it safe to deposit money with the sports betting sites?
Yes, all of the bookmakers that we recommend hold a solid reputation and are well-respected in the industry. Plus, they are certain to have the proper practices in place to securely hold the customer deposits. For instance Ladbrokes have been is existence since 1886 and has 1000s of betting shops on the high street across the country.
What is a betting exchange?
The betting exchange platforms (Betfair, for instance) make it possible to place a wager with other bettors instead of the actual bookmaker. Exchange betting has seen a significant increase in popularity in recent years. The basic idea of this form of betting is to make it possible for one person to place a preferred wager for a result or lay (bet against) and at what odds, and if another users agrees to accept the other side of the wager, the bet is officially made. Betting exchanges can have some advantages over traditional sports betting, such as the possibility of getting better odds and the ability to lay or bet against a selection.
What do the online bookmakers do to protect my privacy?
Online bookmakers make every effort to protect the privacy of their customer details and rely on state-of-the-art technology to make sure personal information and financial transactions are fully encrypted. Most of the bookmakers use technology like 128-bit SSL digital encryption and a protective Firewall to ensure the customer data is kept guarded and will not be subject to unauthorized access.
What is the minimum deposit to open an account?
The minimum amount to open an account will vary with the different sports betting sites, but a typical amount that is common with many of the bookmakers is £10.
Is sports betting only practical for the experts?
Anyone over the age of 18 can use the sports betting sites, and you do not have to have any particle knowledge or experience. A great appeal of the betting sites is that they are made to be really easy to use and place small or large bets on the wide-ranging markets. While it is easy to get started with virtually no knowledge, it can help to get some useful sports understand if you wish to increase your chances of winning. Plus, when you have a better understanding of what is going on, the experience of betting will be that much more enjoyable.
Are there any benefits of betting online?
There are plenty of benefits of betting online that goes well beyond the all-round convenience. For instance, there is a great possibility of finding better lines and odds compared to the high street bookmaker. Plus, there is a wider selection of bet types and in-play action to enjoy. You also get access to plenty of attractive bonuses, free bets, and promotions that can’t be found elsewhere.
Can I use more than one sports betting site?
Absolutely, you can use as many of the online sports betting sites as you wish. It can certainly help to open 2-3 accounts with different bookmakers to make it possible to get access to greater options in the market, and also gives the opportunity to compare odds for the best returns. A further benefit to opening several accounts is the ability to benefit from the sign-up and weekly promotions that are offered to new and existing customers.
How do I get a payout from a winning bet?
The withdrawal process is quite simple to action on the sports betting sites. Most of the bookmakers prefer to return the cash to the payment method used to originally set up the account. The fastest method to get a payout is usually the e-wallet services (Skrill, PayPal, Neteller) which are completed within 24 hours, while credit and debit cards can take 3 to 5 days, and bank transfers slightly longer. Other options include having a paper cheque sent to your door. Also, most of the bookmakers will complete with payout with applying any extra charges.
Why do the online sports betting sites have different odds?
The sport betting sites are in a competitive market and they set the odds for the different market to compete and for the ability to make a profit. Several factors can influence the odds set by the bookmaker such as the likely result and the total amount of money placed on the specific market. These decisions can vary with the different sites, which results in the gaps in odds between the online betting sites.
Why do the betting sites continue to offer rewards and bonuses?
The online bookmakers offer the rewards and bonuses for a variety of reasons. One of the major factors relates to attracting new customers. Many of the best deals are an incentive for new members to encourage them to join with the hope of continuing to place bets in the future. Plus, there are a variety of promotions that are intended to keep the attention of the existing customer by encouraging loyalty and making the betting activity more fun.
What are the different types of bets available?
All of the major sports betting sites offer the ability to use a huge selection of bets to make the bets more fun and exciting. For instance, in the football market it is possible to place bets like match result, goal scorers, draw no bet, both teams to score, correct score, handicap betting, and much more. The most popular sports for betting like horse racing and football are certain to have the most types of betting options in the market.
What is meant by an each-way bet?
The each-way bet is basically the ability to split a horse racing bet to increase the odds of winning. One half of the stake is placed to select a winning for the specific race and the other is placed to finish in a particular position (for instance to finish 2nd, 3rd, 4th, or 5th). The flexibility of the each-way bet can vary with the number of participations in the race.
When can I expect to receive my bonus?
The time-frame for receiving a bonus is certain to differ with the different bookmakers, but it is usually credited to your betting account within the time frame outlined in the term and conditions. Many of the online bookmakers have a special area in your account that lists the bonuses or free bets that you are eligible for.
Is it possible to withdraw any winning on a smart phone?
Yes, you can easily withdraw funds to your preferred payment method when using the mobile devices. Most of the latest apps are full-featured and make it possible to do virtually the same as the desktop site. However, if you are attempting to make a withdraw using a payment method different to what made the initial deposit, you may need to use the full desktop version of the site.
Is the mobile version of the betting site secure?
Similar to the desktop version of the sports betting site, the mobile version is just as secure and uses the HTTPS connection to make sure the customers private information is kept secure and encrypted at all times.
How old do I need to be to use the online betting sites?
You need to be at least 18 years of age to place bets in the UK. It is illegal to even place bets below this age, and should anyone younger than the legal limit play, it wouldn’t be possible to get the winnings paid out by the bookmaker.
What is a handicap bet?
In the event that one team is significantly favoured ahead of the other, the online bookmaker will still provide the market to bet, but give the weaker team a head start. This head start is used in the process of determining who wins the bet. For instance, if a poor football team is given a handicap of 0-2, this basically means they get a 2 goal head start. So even if the match finishes 1-0 to the other team, you still win the bet because of the handicap in place.
How can I find out the latest results and scores?
Many of the online bookmakers make it very easy to get access to the latest results and scores. They provide a wide range of useful information, scoreboards, and statistics to make it easy to know how a favourite team is doing. Plus, the statistics can be used to help research an upcoming fixture to make it possible to make the most informed decision on who may win.
How do I find the latest active promotions?
Most of the major sports betting sites have a dedicated page that lists all of the latest and active promotions. This helps to keep track of the different offers while also providing the term and conditions that apply to each bet to make sure you know what needs to be done to qualify. Also, this makes it quite easy to quickly compare the best deals when looking for a new online bookmaker to use.
What is meant by a free bet?
Any free bet offered by the sports betting sites is simply a bet that you can place at their expense. You have the opportunity to place a bet without needing to use the money in your account. If you are successful with your bet, you get the money transferred to your account (less the stake), but in the event of a loss it is just a case of the bonus stake not being refunded. Most of the online bookmakers put restrictions in place for withdrawing the winnings from a free bet, so you will need to check the terms and conditions on the relevant site.