Betting Online for the 2011-2012 Football Season: Like Going Back to 1999

People are always going to find ways of betting online, and the 2011-2012 football season is no exception, especially with the NFL lockout now over. 

One of the changes gamblers will notice when opening new betting accounts or funding existing accounts for the first time in many months will be the limited deposit methods offered to US citizens. 

While a majority of online sportsbooks still offer betting online via credit cards (Visa and Mastercard specifically), most are actively discouraging new customers from doing so.

The drawbacks of opening an online betting account with a credit card for these wagering firms are simple:  Payment processors are few and far between, can’t always be trusted, and charge exorbitant fees.  

Funding a new sports betting account with a credit card often makes customers ineligible to receive bonuses.

The favorite deposit method now being touted by a large number of US-facing online sportsbooks is money transfer (also known as person-to-person).  This is actually one of the easiest and most efficient means of funding an online betting account and was the preferred method back in the late 1990’s.  New depositors can be guided through the process via online chat or over the phone.  Typically, accounts are set up and ready for wagering in under an hour (just don’t wait until the last minute the day of a game you wish to get action down on).  There are fees attached for the customer but many companies waive the fees with one or two withdrawals per month. 

Bank wires are a great way to fund accounts but there is a minimum deposit that is often a little larger than that required for the credit card and money transfer method.  It also takes a number of days for bank wires to clear.  This means accounts should be open and funded well in advance of any intended wagering activity. 

Sending a cashier’s check by mail is a good way of setting up an online betting account, as crazy as this might sound.  It is the way this writer funded his first sports betting account back in 1998 and worked out great.   Any sportsbook listed on the Gambling911.com website is trustworthy.   You can always contact us here to learn of other online sportsbooks we recommend that offer the option of cashier’s check by mail or Fed Ex.

One other thing we should point out, while some online sportsbooks do offer the credit card deposit method, it is illegal to pay out using this method.  Sportsbooks typically wire funds or send via Fed Ex/UPS/DHL.  The money transfer method is also utilized whenever available. 

While there are no federal laws criminalizing gamblers from placing bets over the Internet, one must be aware of their individual state laws.

The only state to criminalize actual online gamblers is Washington State.  There it is a Class C felony, punishable by death (just kidding).  Well, the conviction is similar to that of a child molester or repeat drunk driving offender, so you get the picture.  Don’t even think about opening an online betting account if you happen to live in the state of Washington.

Likewise, every few years individual state law enforcement decides to actively pursue online gambling companies themselves for various reasons.  Maryland has long been hostile territory for online gambling companies, dating back to the time of Neteller, a popular eWallet solution.  In recent years, New York State has opted to aggressively pursue these betting companies even by way of local law enforcement.  Missouri and Louisiana have also shown an intolerance towards these wagering establishments.  Some sportsbooks no longer accept new customers from these states. 

One of the oldest online sportsbooks in operation today, Bookmaker (BMaker.ag) (in business since 1986 as a betting call center and online since 1998) offers a generous first time free cash bonus, re-ups, loyalty points program and buddy referrals.  These bonuses are available to those who open an account with $300 or more, though $100 to $299 deposits can receive a 15 percent bonus.  Those who deposit via credit cards receive the lowest denomination bonus.  Gambling911.com readers tend to deposit the $300 or greater amount and, keep in mind, these are deposits.  You are not buying a betting account.  The money you put on deposit is yours to wager with and withdraw whenever you please.  Only when you lose a bet does the online sportsbook remove money from that deposit.

In closing, something you won’t read about on most websites is the generous buddy referrals bonuses offered by most online sportsbooks.  Affiliate websites typically do not receive credit for buddy referrals, hence the reason you won’t see much promotion. 

If I were running an online betting site, I would encourage the buddy referral program as much as possible.  This is the closest thing to an “invite only” concept and a great means of building one’s business via “word of mouth”.

But you as the online sports bettor should also think like an entrepreneur.  The more people you bring in, the more money you can make.  Because there will be limited number of places in which to wager during the 2010-2011 football season, chances are most of the folks at the local sports bar no longer have a good out. Go there and make some new friends.  Bookmaker gives you 10 percent of your referral’s initial bonus up to $300 per buddy.  With social media what it is today, the chances of making a few extra hundred dollars per month are greater than ever before. 

Enjoy betting online this 2011-2012 NFL and College Football season. 

- Chris Costigan, Gambling911.com Publisher