Honest Opinion About Bet Broker & How To Use Them Safely & Smartly

07/11/2017

bet broker, honest opinion feature image
Estimated Reading Time: 9 minutes

Are You Aware Of A Bet Broker? Are They Safe? What Can We Expect From Them? We Share Our Honest Opinion & The Best Way To Use Them!!

Firstly, although we do betting activities, we don’t gamble, in other words we don’t count on luck or chance. Instead, we do advantage playsAdvantage Play, Full List  based on mathematical edge to beat the bookies. When it comes to the Sports Betting, we use Matched Betting / Sports Arbitrage / Value Bets On Proven Tipsters to lock-in profit or consistently earn extra income. As our name Global Extra Money (GEM) implies, we would like our readers to exploit such opportunities in worldwide, while accessing to the top quality program / tools for long-term. In case, you have not accessed to our strategy paper of How To Make Money From Offshore Sports Betting With 3 Advantage Playsoffshore sports betting, 3 advantage plays feature image , strongly suggest take a look first. As we explained in that strategy paper, Bet Broker will make critical role to achieve these objectives. Therefore, in this document as a series of our Strategic Development of Global Betting, we share how you can exploit the benefits of Bet Broker by quickly reviewing several popular brokers.

We cover;

What Is A Bet Broker?

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; 

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). Bet Broker, Middleman Image

Why Do We Need A Bet Broker & What Are The Benefits We Can Expect?

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. 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.

Accessibility

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;Offshore Sports Betting, Bookie Restricted Country List

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.

Specifically Who Should Use Bet Broker Service For What Purpose?

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 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).

Bet Broker, Bookies Logo

If you belong to 1 of these or both groups, it is worth reading this report up to the end.

Betfair Alternatives

BTW, we have separately issued the report of Befair Alternatives – Select The Best Option To Suit Your Unique Needsbetfair alternatives, post feature image, 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.

List Of Bet Broker: 2 Groups

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

Asianconnect

Asianconnect 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. oldest Bet Broker, Asianconnect Logo

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)
  • Bookmakers Covered: Pinnacle / SBOBet / MaxBet (Former IBC Bet) / GA288 (Former Galaxy Bet) / Bet ISN / Sing Bet – No Commission To Bookies Required
  • Betting Exchange Covered: Matchbook – 1.25% Commission Required
  • 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
Service Options
  • Basically 3 options: You can chose in the registration page
  • Bookmaker Single Account: If you want to use only your preferred bookies, you can tick the box individually through the above registration page.
  • Skype Betting – You may feel a bit strange to place bets over skype chat though, it works same as telephone betting. All you need to do is letting them know the match you want to bet on with stake amount, then they come back with the odds they can get for you.
  • 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;
    Bet Broker, Asianodds Screenshot
    Click To Enlarge
A Few Comments
  • 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

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. Bet Broker, SportMarket Logo

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     support@sportmarket.com
  • 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
*Betfair

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 support@sportmarket.com to check if you can apply it.

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;
    Bet Broker, Sportmarket Platform Screenshot
    Click To Enlarge
A Few Comments
  • 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.

East Bridge

East Bridge was established in August 2014, which belongs to OLE Group, licensed and operated from Philippines.Eastbridge, Bet Broker, Logo

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 enquiries@oleintl.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
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;
    Bet Broker, Vodds Screen
    Click To Enlarge
A Few Comments
  • 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.

 List Of Disappointing Response Bet Broker

The each bet broker I list below gave us very limited or no response to our questionnaires, which disappointed us a lot. However, don’t get us wrong that these don’t prove any wrong doings they commit. These only indicate their irresponsible & unprofessional attitude. Thus level of reliability is judgmentally quite low. Please ensure you read the Precautionary Actions at the end.

Premium Tradings

We received a positive feedback from one of our members in particular with the experience of Betfair Exchange Service API solution. Therefore, we had expected a lot. However, after we clarified the key purpose of our inquiries as “Reviewing Your Business”, the response became extremely slow.

The person we dealt was a head of marketing. He finally replied after 12 days negligence to our inquiry. However, he again hasn’t come back to our further questions despite our repeated reminder even involving the chat service due to the deadline of this report. He is supposed to be responsible for clarifying their business operation to build up the trust, but unfortunately he has jeopardized the company reputation. Very disappointed. We will update if he gets back, but so far our impression on Premium Tradings are very secretive & not dependable. Bet Broker, PremiumTradings Logo

Update 23 Nov 2017

Our member who had given me the favorable feedback on Premium Trading (PT) informed us that PT’s flagship tool of Premium Shark Betfair account suddenly became malfunction last week. Despite PT’s announcement of;

Bet Broker, PT Betfair Issue
Click To Enlarge

Now, this looks their solution;

bet broker, premium trading nine wicket
Click To Enlarge

 

The Betting Brokers

Their customer service response is quite poor with a lot of illogical stories, and he / she doesn’t even share the own name. No single answer to our questions, but at least responded twice.Bet Broker, The Betting Brokers Logo

Samvo Bethub

No single reply came back except the initial automated response of “Your message was successfully received by the Customer Support Team. You will receive a reply from one of our representatives within the next 72 hours.“. Bet Broker, Samvo Bethub Logo


Bet Broker Cautions

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;

BET-IBC

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”. BET IBC LogoHowever, one of our members sent me the following screenshot & gave us the huge caution;

Bet IBC No KYC
Click To Enlarge

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;

Dear Yana, One of our members just reported to us that you don’t go through KYC process. Means, you allow anybody to invest (bet in this case) money in various bookmakers & exchanges freely anonymously. Since you’re collecting the money from the general public and you’re required to prevent any means of money laundering, corruption or bribery by verifying each applicant’s ID, which should be required by the regulator where you get license, even if not, it’s a minimum / general requirement set by OECD. We cast big doubt on any companies that don’t adhere to such basic process. JoshuaBet-IBC Email Correspondences
Hello Joshua, We do that for bank transfers but most of our clients use skrill/neteller/ecopayz which do this job for us better then we could do by asking standard kyc. Clients funds are 100% safe as we payout only to the same method and account we receive money from. when are we going to publish the review of us? Best regards, Yana Bet-IBC Email Correspondences
Dear Yana, You are obliged to take proper KYC process irrespective of the payment method, especially you manage gambling business which requires strict age limitation in all countries. Our member who sent the information strongly urged us to publicize “caution” on your business, which we agreed. We will publish it accordingly. JoshuaBet-IBC Email Correspondences
Verdict

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.

Security

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;

Unlike other bet brokers Sportmarket never lay any part of the bets, we only act as an intermediate between the players and the bookmakers. Our income comes from a small commission that we receive from the bookmakers regardless if a player wins or loses.Sportmarket

I asked them to elaborate on this, then the answer was;

In simple terms, you place a bet on EUR 2,000, but only EUR 1,000 is placed on the actual bookmaker, while the remaining EUR 1,000 is “taken” by the agent. If the customer wins, bookmaker pays their share x odds, and agent pays his share x odds. If there is no position taking, all EUR 2,000 will go to the bookmaker and there is no any kind of financial risk from the broker end. When agent/broker is taking position on the customer, they are winning on their losses and are losing with customer’s winning.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 FX Broker 3 Hidden Agenda & 4 Key Criteria To Chose The Best – Part (1) & Part (2).

Conclusion – Precautionary Actions

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.

Bottomline

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.Bet Broker, Risk Management Egg Basket
  • 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!!

Joshua Walker