We all love to have a bet online, but the only thing we love more than the betting is staying safe while doing it. Even if you’re a seasoned online bettor, you might be intrigued but daunted by the prospect of Bitcoin betting sites.
It’s natural and desirable to have safety as your number one concern. A bit of research is the main thing you want to do. That’s why, today, we’re going to look at some of our best tips for staying safe when choosing the site you’re going to bet on. this is the first thing to be concerned about—choosing the right site.
So, let’s look into this.
- Licensing
The number one most important thing to consider is that the site you’re looking at is licensed by the relevant official commission. Here in the U.K., the Gambling Commission has issued licenses to about 2,600 organisations for online betting.
The Bitcoin betting site you’re looking into should be licensed by this official body, otherwise you are at risk. The site would therefore be operating illegally, and they could simply be looking to steal your money.
The site itself should clearly display its license, and it should also be found on the Gambling Commission’s directory of licensed companies.
This is always your first point of call. If it’s not licensed, it’s not safe.
- Security
Once you’re sure it’s licensed, start looking into how robust its security features are. bitcoin betting sites are fairly unique in that you shouldn’t have to offer up too much private information to create an account.
Nonetheless, you still want all the requisite security features on the site you’re using. Make sure they offer things like 2FA verification, and that they have no history of major data breaches. Though your info isn’t at risk, your funds could be.
Security should be one of the clearest things that the site takes most seriously in its approach to betting. If it doesn’t seem right, then don’t bother with it. While your information isn’t so much at risk, you are always at risk of being phished if you don’t take enough care. It is still easy for fraudsters to set up fake facades of betting sites to take your money. Don’t let that happen.
- User reviews
Next, you should start looking at the site’s user reviews. Any site with a lot of traffic should have a fairly substantial amount of user reviews. There are many directories where users come to do this, and the biggest sites will have literally tens of thousands of reviews.
This is where you’re most likely to find out about any glaring issues that a betting site has. Bitcoin betting sites are still somewhat up-and-coming, so the newer ones may have numerous teething issues. If they do, they’re best avoided until they’ve sorted these out.
Scan the reviews for any common complaints that come up. If you find that the same issue is being mentioned time and time again, then the site probably isn’t best for you.
- Research
Overall, then, the best way to stay safe when choosing a Bitcoin betting site is to do your research. There are many, many Bitcoin betting sites out there, and some are obviously more safe than others. If you just jump into the first one you find without looking into it, then you are bound to run into problems.
As I said, over 3,000 licenses have been issued to as many as 2,600 different operators for different betting services. Even though Bitcoin betting sites make up quite a small percentage of that, there are still a great many of them to consider.
Know what to look for—licenses and good security features.
Ultimately, it is much easier to stay safe than you might think. With a bit of research into all the key points we’ve looked at here, you’re never really in any danger. All of your info will be protected, and you’ll have recourse should anything go wrong. As long as the site you’re looking at is licensed, and there seems to be no common reports of major issues, you should be safe.
