Honest Opinion About Bet Broker & How To Use Them Safely & Smartly
Estimated Reading Time: 43 minutes
What Can We Expect From Them?
We cover the following topics after Bet Broker – Preface;
- 1. Bet Broker – Preface
- 2. What Is A Bet Broker?
- 3. Why Do We Need A Bet Broker & What Are The Benefits We Can Expect?
- 3.1. Accessibility
- 4. Specifically Who Should Use Bet Broker Service For What Purpose?
- 5. List of Fully Answered Bet Broker
- 6. List of Disappointing Response Bet Broker
- 7. Bet Broker Cautions
- 8. Conclusion - Precautionary Actions
Bet Broker – Preface
Firstly, although we do betting activities, we don’t gamble, in other words we don’t count on luck or chance. Instead, we do
A Bet Broker also called Bet Agent is a Middleman between bookmakers & you. Bet broker provides their clients with a single account that connects multiple bookmakers & betting exchanges, namely;
- Sharp Bookies: Represented by Pinnacle – see further details of this excellent bookie in our Full Review & Asian Giants including SBOBet & MaxBet – some of them are included in our List Of Best On-Line Bookies In The World;
- Betting Exchange: Betfair, Betdaq & Matchbook (if you’re not familiar with the exchanges, see Bet Exchange How It Works )
Bet Broker claim you can bet Anonymously & Securely (well, from our perspective, nothing is perfectly secured, So, please don’t miss the Precautionary Actions section at the bottom of this document before taking any action).
Are Bet Brokers Legal?
One of the most popular question is “Are bet brokers legal?” Yes, most of the bet brokers are regulated by the authorities in the jurisdiction they each register. However, only this fact doesn’t ensure any safety. Unlike the established giant bookmakers, many of the bet brokers are SMBs (small & medium sized businesses) and poor management will quickly lead to the disaster. Typical example is Samvo Group. Samvo bet broker (Samvo Bethub) held licenses with the United Kingdom Gambling Commission (UKGC) and the Curacao Gaming Commission but closed down late 2017, just FYI.
For further details regarding the security aspect, see “Bet Broker Cautions” section later in this report.
There are 4 distinctive benefits you can expect from bet broker as follows;
- Accessibility – You can access to the online bookies & bet exchanges you usually can’t due to the geographical restriction. Why? Simply because bet broker is placing the bets on your behalf.
- Sharp Bookies Advantages – Since bet broker includes Sharp Bookies, you can enjoy 1. Best Odds in the industry 2. High Stake Limit 3. No Account Restriction 4. Bet broker arbitrage. So, you receive all the advantage brought by the sharp bookies’ “Welcome Professional” policy.
- Reduced Betting Exchange Commission – You may be able to enjoy lower commission such as 2.5% of Betfair rather than usual 5%.
- Increase Efficiency – You can select Single Integrated Account from which you can place all of your bets at multiple bookies. This allows you to streamline bet placing process as well as logistics of funding (deposit & withdrawal) among several bookies. I paste a screenshot of the platform of each bet broker later, which will give you an idea how it works. Basically, when you click on an event, it shows you all the odds from the listed bookmakers with minimum stake requirement & the maximum you can bet in the form of bet-slip. You can chose the best odds bookie & place the bet very conveniently & efficiently.
Let me elaborate on the accessibility. You may wonder which bookmakers ban your location. Each online bookmaker have their own policy of the restricted countries, which may be different from the law. You can use Bookmakers Restricted Countries List, where you can check if you can access to the specific bookmaker you intend from the jurisdiction you reside;
Caution On VPN (Virtual Private Network) Tactics
Some betting advice sites suggest VPN access to sign up offshore bookies. Yes, you may be able to physically access, register & bet through this tactics. However, bookmaker’s KYC (Know Your Customer) policy will enforce you to verify your account with ID (Passport / Driving license etc), Address Proof (Utility Bill, Bank Statement etc) & possibly Deposit Method Proof (Credit / Debit card Both Side).
Some bookies ask for it right after your registration, some may not ask until you start withdrawal. In case you fail to verify, your account will be suspended & your winnings may be confiscated, which is disastrous. So, don’t believe the rogue site’s unfounded story lightly. Unless you have reliable person who allows you to use the above personal information willingly (assume only immediate family or extremely close friend), you’d better forget about this approach and use the Betbrokers introduced in this report.
If you have such reliable source then you need reliable VPN. Based on our members’ feedback, this VPN is supposed to be the best from the viewpoints of the strongest security, high speed, versatility (accessible countries) & cost – – for further details, see Best VPN For Betting – Why Sharp Needs Privacy
Broadly speaking, there are 2 groups who have potential demand with specific purposes as follows ;
- Professional / Semi-Professional Punters Who Want To Access To Sharp Bookies (To Seize Sports Arbitrage Opportunities or Value Bet On Proven Tipsters / Systems / Software Without Any Account Limit / Restriction For Long-Term).
- Those Who Want To Reduce The Commission of Bet Exchanges or Can’t Access To Bet Exchange (To Capture Missing Matched Betting Opportunities).
If you belong to 1 of these or both groups, it is worth reading this report up to the end.
BTW, we have separately issued the report of Befair Alternatives – Select The Best Option To Suit Your Unique Needs, where you will find Betfair White Labels providing effectively Betfair Identical platform. For those who can’t legally access to Betfair and seek for the Betfair equivalent market coverage & liquidity, this document will be useful. FYI.
We had sent a list of questionnaires to each of the following bet broker. Based on the outcomes of the subsequent correspondences, we split into 2 groups of Fully Answered & Disappointing Response.
List of Fully Answered Bet Broker
BetinAsia was founded in 2011 and looks expanding its share steadily thanks to an outstanding and fast dedicated Customer Support service as a “Crypto-friendly” brokerage.
BetinAsia Key Features
- License & Regulation: Yes & Regulated by CGCB (Curacao Gaming Control Board) with License #: 365/JAZ & Sub License #: GLH-OCCHKTW0710132018
- Customers’ Fund Protection: They answered as “CURACAO GAMING LICENSE binds us to operate in a secure way and holds us accountable” and their T&C says “Subject to the prior provisions of this section, our entire obligation to you for any loss or damage arising in association with this Agreement shall be restricted to the lesser of the amount of fees actually received from you in the previous six months, or five thousand pounds (£5,000.00).”
- Contact: Avlonos, 1, Maria House, 1075 Nicosia, Cyprus
- Restricted Countries: US, UK, Sweden & France
- Bookmakers Covered: Pinnacle (PS3838), Singbet, BetISN, SBObet, MAXbet (Former IBC Bet) and 18bet
- Betting Exchange Covered (commission): Betfair (3% on winning), Betdaq (1.5% on winning), Matchbook (1.25 on both winning & losing), Turf7 (1.25% on winning) & Citibet
- Betinasia offer 2 Betfair White Labels – See Befair Alternatives – Select The Best Option To Suit Your Unique Needs for further details.
- Fee / Charge To Client: None
- Minimum Transaction & Cost: Depositing is free of charge. The minimum deposit is €100 or the equivalent in other currencies. The minimum withdraw is €100 as well. For all payment methods, except Bitcoin, Litecoin and Ripple, one free of charge withdrawal every 30 days. All other withdrawals within the 30-days period will cost 2% of the withdrawn amount. The 2% fee applies to all withdrawals with Bitcoin, Litecoin and Ripple.
- Minimum Stake per Bet: €5 except for Skype betting service, where min bet is €1.000.
BetinAsia Service Options
- Basically 3 options: You can chose in the registration page
- Bookmaker / Exchange Single Account – If you want to use only your preferred bookies, you can tick the box individually through the above registration page.
- Skype Betting – It’s a convenient betting service where BetinAsia’s dedicated service team will help 9AM to 9PM CET 7days a week. (BTW, their Support working hours are 8AM – 23PM CET).
- Black – It’s an integrated betting platform that covers 5 bookies & 5 exchanges in 1 account. When choosing the event, it shows all available bookies’ odds, then you select the best odds & the highest limits in all major Asian bookmakers. The looks like;
A Few Comments about BetinAsia
- BetinAsia is proud of the excellent customer support & instant handling of the fund deposit/withdraw requests without fees.
- Black as a white label of Mollybet platform is an easy to use, multi-channel interface showing real time updated best odds, so that users can place aggregated orders at the highest liquidity in milliseconds. This solves any problems associated with poor liquidity, price movements and manual execution errors.
- Low minimum stake is beneficial for small bettors, moreover its high limit stake is obviously fit for high rollers & professional bettors. We understand that for large syndicate and professional punters Black offers two APIs of Pull API & Push API, which makes it possible for the customers to use different algorithms and betting tools to automatically place the bets.
Asianconnect88 is one of the oldest bet brokers, established in 2002. They are licensed & operated in Curacao Netherlands Antilles. Several people in our members have been using Asianconnect for a few years and all of them gave us quite positive feedback including flawless quick payment processing.
Asianconnect Key Features
- License & Regulation: Yes & Regulated by CGCB (Curacao Gaming Control Board)
- Customers’ Fund Protection: They answered as “The gaming license requires us to hold sufficient funds in our bank accounts to honour all customer winnings.”
- Contact: Asianconnect N.V. Dr.M.J. Hugenholtzweg z/n UTS-Gebouw Curaçao, Netherlands Antilles Tel 44 203 289 5500 (Europe) / 63 917 805 3399 (Asia)
- Restricted Countries: US, Philippines & Singapore (UK Players Accepted Only If use Bitcoin for deposit / withdrawal – means Asianconnect don’t reject UK registration but accept deposit only in BTC)
- Bookmakers Covered: Pinnacle / SBOBet / MaxBet (Former IBC Bet) / Bet ISN / Sing Bet – No Commission To Bookies Required
- Betting Exchange Covered: Asianconnect offer 2 Betfair White Labels – See Befair Alternatives – Select The Best Option To Suit Your Unique Needs for further details.
- Fee / Charge To Client: None
- Minimum Transaction & Cost: Minimum deposit for all money gateways is €10, Asianodds account £/€100, & Skype Betting £/€150. Fee for Bank Transfer, Bit Coin, Neteller & Skrill Deposit are Free. 1st Withdrawal every month is Free & 1% for the subsequent withdrawals.
- Minimum Stake per Bet: £/€ 2 – 10 depending on each bookmaker
Asianconnect Service Options
- Basically 3 options: You can chose in the registration page
- Bookmaker / Exchange Single Account: If you want to use only your preferred bookies, you can tick the box individually through the above registration page.
- Asianodds – It’s an integrated betting platform that covers 6 bookies in 1 account. When you chose the event, it shows all available bookies’ odds, then you select the best odds. The interface looks like;
A Few Comments about Asianconnect
- Asianconnect is very responsive, and it’s been around reasonably long enough (15 years) to prove the trust & reliability to good level.
- Low minimum deposit & stake per bet requirements are beneficial for small bettors.
- One of our members originally knew this bet broker in the interview done by ZCode (some of the info are outdated, thus use the info in my report here if you find any discrepancies). He said he had earned €45,000+ over the last 1 year from ZCode & asianconnect bookies mainly Pinnacle. BTW, on this occasion suggest see the ZCode Full Review, that is probably 1 of the best betting system of US 4 Major Sports. For this particular betting tactics, contact us for any inquiries.
Sportmarket was founded in 2004 and is operated by Sportmaket Ltd. A few of our members have been using this bet broker for some time, and gave us fairy good feedback. One member admires their continuous improvement such as adding new bookies and reducing the minimum deposit etc.
Sportmarket Key Features
- License & Regulation: No, They answered as “We do not hold a gaming license in Malta as it is not possible for this type of business but we have met with LGA (the lottery authority in Malta) and they didn’t see that our business could not be operated from Malta. We do hold a gaming license in another jurisdiction (outside EU) but we are not currently using that one as we are not laying any parts of any bets.“
- Customers’ Fund Protection: They answered as “We are regulated at Malta from where we legally operate our business without any issues. All the accounts that we posses are company ones and Banks/eWallets are protecting all the funds there. “
- Contact: Sportmarket Ltd. Milestone House Triq is-Sajf ta’ San Martin Bahrija l/o Rabat – RBT 6013 MALTA firstname.lastname@example.org
- Restricted Countries: USA / UK / France
- Bookmakers Covered: Pinnacle / SBOBet / MaxBet / GA288 (former Galaxy Bet) / Bet ISN / Sing Bet / MMMBet / CMDBet
- Betting Exchange Covered: *Betfair – 2.3% Commission / Matchbook – 1.8% / Betdaq – 1.2%
- Fee / Commission To Client: None
- Transaction Cost: Deposit & Withdrawal Bankwire Free, but 1% for Neteller / Skrill
- Minimum Deposit & Stake per Bet: €250 & €25 Respectively
Regarding Betfair, the biggest advantage via Sportmarket is a Reduced Commission. There are 2 options;
- Betfair Direct Account – Both Exchange & Sportsbook, 2.5% commission
- Sportmarket Pro Platform – No Exchange but Only Sportsbook, 2.3% commission
*There is a complicated T&C for each country. Therefore if you’re interested in this Betfair discounted commission service, strongly suggest send inquiry to email@example.com to check if you can apply it.
Sportmarket Service Options
- Basically 2 options as briefly explained in the above Betfair case.
- Private Bookmaker Account – You can create account of Betfair, Pinnacle, IBC, ISN, Matchbook and SBO individually.
- Sportsmarket Pro – It’s the similar integrated betting platform as Asianodds. It covers 11 bookies in 1 account. The interface looks like;
A Few Comments about Sportmarket
- Same as Asianconnect, they are very responsive, and it’s been around reasonably long enough (13 years) to prove the trust & reliability to good level.
- Unlike some betting brokers (see the Precautionary Action later), Sportmarket does not take position on bets, thus lowering the risk for the players that they would run out of cash and not be able to pay them.
- Given the minimum stake of €25 per bet, this is not for the smallest players.
Bet-FootballBET-Football is licensed & operated in Montenegro under the company name of Bet-Football D.O.O. They described their strength as “We believe we provide the ultimate one wallet service with a wide variety of accounts, fast and easy deposit / transfer / withdrawal options with excellent customer service.“.
Bet-Football Key Features
- License & Regulation: Bet-Football is fully licensed by E-Gambling Montenegro, with license number 0032 & reg. no. 5-0615951.
- Customers’ Fund Protection: They commented “We are legally required to maintain sufficient funds to honour all customer deposits and winnings“. We also asked if the customers’ fund is segregated from their own business operation. They answered as “Yes as part of the licence a basic requirement is to have all customer funds held in a segregated account.”
- Contact: BET-FOOTBALL LIMITED Cetinjskji Pu BB, 81000, Podgorica, Montenegro Email: firstname.lastname@example.org We also have Skype, Twitter and a Facebook page
- Restricted Countries: UK, France, Turkey & USA
- Bookmakers Covered: SBO, Pinbet88, ISN, Maxbet, GA, Sing, 1bet, 18bet and M8, Mollybet and also 3ET
- Betting Exchange Covered: Matchbook – 1.25% when Backing a selection and 0.75% when you add liquidity to their exchange.
- Bet-Football offer a Betfair White Labels – See Befair Alternatives – Select The Best Option To Suit Your Unique Needs for further details.
- Fee / Charge To Client: Their service is completely free.
- Minimum Transaction & Cost: Minimum deposit is €100.There are no fee’s to the clients when depositing and each customer gets ONE free withdrawal over €200 per working week (Mon – Sun) all others have a 1% fee and any withdrawal under €200 has a €2 fee.
- Minimum Stake per Bet: Each bookie has its own minimum bet size but the lowest is €2 and Pinbet has the highest at €26 when using directly or €10 when using Pinbet on Molly.
Service Options of Bet-Football
- Basically 3 options: You can chose in the registration page (*In the registration process, if you kindly select GEM – Global Extra Money in “How did you hear about us? (Please select) ” box, we will get commission, which will help us keep our GEM site free);
- Single / Multiple Accounts: Clients can chose open individual accounts at one of the following bookmakers & Exchange: SBOBet, IBC (MAXBET), Pinnacle Sports, 1XBET, Bet ISN, SingBet, 18Bet, 1Bet, M8Bet, Betdaq, and chose either Molly Bet, QBO or 3ET as a software that will integrate all your chosen sites into 1 platform.
- Skype Betting: Convenient way of betting but minimum stake amount will apply.
- Private Betting: It’s based on Invitation only. Customers are allocated their own personal account manager who will provide them with a dedicated service.
Bet-Football A Few Comments
- One of the largest strength is obviously the Betfair White Label (see Details), which provides the largest market coverage & liquidity..
- Bet-Football.com is relatively new (since June 2014) in the bet broker industry. However, as the site footer shows; , they seem to be quite rigorous about the business operation.www.bet-football.com is licensed and regulated by the government of Montenegro. E Gambling Montenegro d.o.o. (Podgorica, Moskovska br. 65., reg. no. 5-0615951) hereby certifies that under the concession (serial no. AA 0546, numeric no. 117-01/12) and approval (no. 02/01-376/3), organize and operate games on chance in Montenegro on website www.bet-football.com, in accordance with the Agreement on management and financial cooperation, concluded between E Gambling Montenegro d.o.o. and Bet-Football Limited d.o.o. d.o.o. (Podgorica, Cetinjski put bb, reg. no. 5-0696241, TIN: 02992426-302) on 6 June, 2014. More details about the license, E-gambling Montenegro and handling of complaints: www.e-gambling.me Bet-Football
- We have communicated with the manager over the phone and got the impression that they are very keen to make the right things in the right way as a legitimate company. They adhere to all the regulations strictly and we felt the level of professional morale is high, thus reliable.
- They charge no fee on their entire service.
EastBridge Key Features
- License & Regulation: Yes & regulated by PAGCOR (Philippines Amusement and Gaming Corporation)
- Customers’ Fund Protection: They answered as “Customer funds are all kept separate from each other and all under us alone, no customer funds are held with any bookmakers or other entities. I just have to be very honest and say that we are very well funded and that we do not need to delve into customer money for anything. However, you will just have to take our word for that and know that the reason we have been in this industry so long and work with so many big clients is because we believe that good settlement is key to long term business. Our customers always get paid.”
- Contact: OLE Group Philippines, Inc. UNIT 8A MARVIN PLAZA 2153 Chino Roces cor Herrera St., Makati City, Philippines +63-5856488 email@example.com
- Restricted Countries: USA & UK
- Bookmakers: Pinnacle, SBO, Max Bet, ISN, Singbet, Crown, and SBC
- Fee / Charge To Client: Nil
- Transaction Cost: Deposit & Withdrawal No Charge but unless a minimum turnover requirement of EUR/GBP/USD 10,000 is achieved between withdrawals, 1.9% charge from Neteller / Skrill / Bank Transfer up to a maximum of EUR 25 or other currencies equivalent per withdrawal request.
- Minimum Bet: £/€ 2 – 13 depending on each bookmaker
EastBridge Service Options
- 3 options: Basically the same options as Asianconnect
- Bookmaker Direct Account: If you want to use only your preferred bookies, there are 6 bookies you can create individually. But majority of users chose Vodds Betting Platform.
- Skype Betting - They offer you Skype as Asianconnect do.
- Vodds Account - It's an integrated betting platform that covers 6 bookies in 1 account (they said cover occasionally some smaller books as and when they surface). When you chose the event, it shows all available bookies' odds, then you chose the best odds. The interface looks like;
A Few Comments about EastBridge
- In comparison with the previous 2 bet brokers, there a few disadvantages such as No Betting Exchange Available, Minimum Turnover Requirement For Free Withdrawal. And Only Football market in Vodds platform (they say expanding into Basketball, Baseball and Tennis by around April 2018).
- I asked about the company financial situation publicized in this site. The answer was " The revenue is not reported in Ole Group Philippines. This is just a BPO company and revenue is minimally declared for tax purposes." I further asked which company is the entity to operate your tangible business activities? The answer was "Ole group Philippines. Ole group international is the license holder. Ole group Philippines is a BPO company contracted with Ole Group International to help run daily operations.If you are looking for evidence of us being a reputable company you can search industry forums. We also have references from other reputable companies like Matchbook."
- Then, I asked can you provide me the links that show industry forums & references from other reputable companies like Matchbook. The answer was "I do not actually have any links to hand, but if you just did a quick google search you will come across some. We have also partnered with a number of forums like Blogabet, Secret Betting Club, etc.I will forward you the Matchbook reference when I get it.
- 10 days later, I received the mail saying "In regards to Matchbook references they are Ben Brake or one of the Heads of Matchbook, Francis Osei."
Despite several good feedback from our own members, we had terrible replies from Premium Tradings in the past, therefore we listed it in Disappointing Response Group. However, it turned out to have caused by ex manager, and new Account & Sales Manager Alice approached us with the comment of;
Premium Tradings have given the Attractive Exclusive Offer to our GEM members, please see the details at the end of the review.Premium Tradings Key Features
- License & Regulation: The license is from Curacao, but the regulatory body is the Government of Curacao (Curacao Gaming Control Board is regulating only offline based operators).
- Customers’ Fund Protection: They claim “PremiumTradings funds are used only for customers’ accounts and their operation.“
- Contact: Bellona N.V , a company with registered address at E-Commerce Park Vredenberg, Curacao.
- Restricted Countries: US & Israel
- Bookmakers Covered:Premium Broker Bet, Maxbet, PS3838, 1bet, ISNbet, 18bet, Babibet, – No Commission To Bookies Required
- Exchange Covered: Citibet, turf7 (horse racing / greyhounds), orbit & fair exchange.
- Fee / Charge To Client: The service is toll free, however Goal tool service (product) itself is supported by a third party software, which forces a usage fee only for it. The fee is 0.15% monthly over the generated turnover of each member account which is deducted each first Monday of the month.
- Minimum Transaction & Cost: Minimum deposit 100€/$/£ (Reduced from 200€/$/£ from 22 Apr ’19) for Premium Single Account , 100€/$ for Premium Goal and 1000€ for Skype Betting service. Every member is entitled to get one free withdrawal per calendar month, with no applicable amount limitations. A fee of 1% will be applied on all further withdrawals in said time frame.
Minimum Stake per Bet: Min stake may vary depending on the bookie and currencies – 1€ -25€ for Premium Single Account & 4€ – 25€ for Premium Goal. 500€ for Skype Betting Service.
Premium Tradings Service Options
- Basically 3 options;
- Premium Accounts – Single or Multiple betting account that can chose among Maxbet, PS3838, 1bet, ISNbet, 18bet, Babibet, as well as betting exchanges as Citibet, turf7 & 2 Betfair alternatives.
- Bet Broker Betting or Skype Betting – Bet Broker is an automated brokerage service and Using “By request” option, you will get an exclusive offer by their Trading Team with higher odds and the stakes than the visible ones for a certain event. Skype betting service is to assist customers with hitting the market max bet limits, by using different sources that they exclusively work with 24/ 7 service ( the details of the Skype dedicated for bets is not displayed since they are providing them only after the customer performs a deposit for the service in order only active customers to persist in that Skype.)
- Premium Goal – One platform tool that allows you to place multiple bets with just 1 click in the sportsbooks inside: Maxbet, PS3838, ISNbet, Singbet & 18bet.
A Few Comments on PremiumTradings review
- Premium Tradings is now very responsive, and it's been around reasonably long enough (started operation on the EU market in 2011 & the company was established years earlier) to develop trust among users.
- As said at the beginning, our several members reported us their comfortable trading experiences including ultra smooth withdrawals. BTW, they offer Bitcoin payment / withdrawal on top of the standard Skrill, Neteller, EcoPayz & Bankwire.
- They offer Special Discount Exclusively For our GEM members, see Below for details;
And as said early in this report, it shut down in late 2017.
Please bear it in mind that unlike giant bookmakers we usually deal, this is the business we have to pay careful attention to the risk management.
Let me start up with "Warning" bet broker;
We originally thought Bet-IBC is one of the best choices because they are very responsive and they have the advantage of "Only USA is a restricted country" & "Wide range of bookies / bet exchanges choices". However, one of our members sent me the following screenshot & gave us the huge caution;
KYC (Know Your Customer) is a standard & basically mandatory process for all financial / investment related institutions that collect money from public. It can't be omitted as the business practice of a legitimate company. The below are the correspondences between BET-IBC marketing staff & us;
As said, we had thought Bet-IBC was a good choice (despite the fact they charge fee on your total stakes in Vip account) though, this KYC issue imposes us to label "Caution". Some people may think anonymous status is convenient, but that is the industry of HYIP (High Yield Investment Program) where 99.99% is a Ponzi scam. Don't get me wrong, we are not saying BET-IBC is a scam. However such unprofessional business practice implies the sign of possible other misconduct. So, there is always the risk that any authority will arrange to shut down the site & confiscate all the fund, which you hear daily basis in the HYIP industry. Once it happens, there is very little chance to recover your money.
64K missing debates are happening between a Bet IBC customer and Bet IBC in this forum thread "BET-IBC SCAM EXPOSED - With proofs". We are not in the position to judge who is right though, given the lack of critical proof that Bet IBC should provide, looks it's safe for people to stay away from this bet broker.
Anonymity - No Protection
Let me continue Anonymity issue.
Premium Tradings claims "All accounts are under our company’s name, thus ensuring that no personal client information is exposed to bookmakers or any other third parties.", yes anonymity. Does it sound really attractive?
All this means that your money will be stored in the bet broker rather than the established big bookmaker. You are essentially giving a third party the ability to access your money and place bets on your behalf. Most of the bet brokers seem to be SMBs (small & medium sized businesses) but are collecting a lot of money from punters all over the world. So, the worst case scenario is Ponzi scheme (see the section of Make Fast Extra Money 2nd Concern – Security ). Or simple poor management will lead to the collapse of the business easily.
Unlike big licensed bookmakers that are imposed to ring-fence their customers' fund (of course it doesn't guarantee anything though), your money is basically not protected when the bet broker becomes insolvent (or if your bet broker vanishes tomorrow). Even from the licensed bet brokers I listed, I couldn't receive clear confirmation that the customers funds are segregated from their own business funds.
Could Be Your Enemy
Sportmarket indicates in their site that;
I asked them to elaborate on this, then the answer was; (Sportmarket E-mail Reply)
So, what could be the negative consequence when bet broker takes position & the customer is not aware of the implication of it? See Forum Thread depicting the story related with Premium Trading, scary?
In short, certain bet broker manipulate the betting like MM (Market Maker) of FX broker by having in house DD (Dealing Desk) & laying the customers' bets as what I explain in Forex Broker Select Trusted Forex Brokers With No Hidden Agenda.
BTW, Alice Trishmann, Accounts Manager & Sales of PremiumTradings made the following comments on the above forum thread;
Having said, bet broker makes a critical role for many international punters to exploit the juicy advantage plays opportunities globally. Allow me to reiterate Not Use VPN tactics Under The 3rd Party Name.
So, we need bet broker. The issue is how safely & smartly we can use.
What we suggest are ,
- On top of the information I share in this report, do your own research until you feel comfortable. Avoid any bet broker that don’t respond to your serious question.
- Don’t allocate more than 30% of your total betting bank into the category of bet broker fund.
- Don’t put all eggs into one basket. Namely split your above bet broker fund allocation (up to 30% out of the total) into multiple (at least 2) bet brokers.
- Assuming you prefer bookies integrated account, get the demo account before you start with the real money. Every bet broker I provided the information will give you the log-in info immediately after you request via contact.
Hope These Will Help. Good Luck!!
Editor - GEM (Global Extra Money)