Why Betting Accounts Get Closed or Restricted?
Head to any online or off-line sports betting-related forum and you’re likely to come across a large number of winning sports bettors whining about their accounts getting closed or restricted by bookmakers. Why do you think it happens? Let’s find out reasons which can lead to your sports betting account getting closed/restricted.
The gambling and sports betting industry underwent major transformation post the advent of the Internet. It all happened for good and made online sports betting the most frequently used method for placing bets.
As more and more number of websites make historical statistics and data available to the general public, a large majority of well- educated population is also rapidly turning to sports betting, not just for entertainment purposes, but also for earning a livelihood.
The professional sports bettors of the modern times have a solid understanding of mathematics that goes into bookmaking activities, and know how to make long-term profits through application of bet hedging and arbitrage methods.
No matter how many claims may be made to the contrary, a large number of mainstream bookmakers do indulge in certain off-the-record practices wherein they exclude or restrict winning players from placing bets on their portals.
Although some of these bookmakers may also go to the extent of cancelling the winning accounts, and literally banning the profitable sports bettors from their online premises, the others may effectively impose restrictions such as limiting the offered bets to ridiculously low levels, for instance £ 2 per bet, forcing gamblers/sports bettors into exiting.
The criteria used for closing or limiting the betting accounts
As more and more bookies seek square punters (the ones who bet more than their daily winnings), the professional breed is rapidly becoming an anathema for the leading bookmakers. But how do you think bookmakers find out these people who punt for a livelihood?
Following are some of the important indicators that flag a sports betting account to be that of a professional bettor, possibly resulting in severe restrictions or even closure:
Profitability – Professional sports bettors are often seen withdrawing more money from their betting accounts than their deposits.
Bonuses and free bets – Professional sports bettors are rarely show any interest in the so-called special offers. You’ll find them availing these offers only and only if they fit into their long-term betting strategies, which is often not the case, as these bonuses and free bets have many stringent terms and conditions associated with them.
Bet sizes – Professional sports bettors never indulge in any experiments while betting. They always calculate the exact figure they need to bet on a certain market, in order to take home a certain amount of guaranteed winnings. So, you’ll often see them betting amounts like £ 81.26, a common indication of it being an arbitrage bet, a strategy that’s fairly common among professional sports bettors.
User behaviour – You’ll never see professional sports bettors betting for fun. They indulge in sports betting for a livelihood. It’s highly unlikely to find a pro hanging around a website merely for watching some live matches. They’d normally just login, place their wagers and switch to the next bookmaking website.
Quite surprisingly, profitability isn’t actually the first factor that bookmakers look at. Often, you need to let the time pass in order to figure out who is profiting in the long term and who’s not. And it’s too late by then.
Instead, bookmakers are more keen on detecting professional sports bettors before they actually put any money into their pockets. It’s for this reason that these bookmakers create guidelines for several risk groups and profile players depending on their betting patterns and behaviours.
Such rigid investigation method also impacts sports bettors who may not be professionals, nevertheless, it does eliminate the risk for the bookmaker. In a way, bookmakers opt for better-safe-than-sorry approach. As a result, casual bettors may also sometimes see their accounts getting heavily restricted or shut down without any explanation, for no apparent reasons.
Isn’t it illegal to abruptly close sports betting accounts?
The refusal to accept a sports bet at advertised odds although is definitely not in line with the spirit of fair game, it doesn’t break any law. Several different organisations are involved round-the-clock in proper regulation of the sports betting and gambling industry. But their primary role is adjucating only the bets which have already been placed, and not the betting limitations and/or abrupt account closures.
Until the time there is a significant change in the industry regulations, to the extent that a bookmaker’s license may be cancelled for refusing bets without any valid reason, it’s completely up to the sports bettor to decide whom he’d like to entrust his money with.
Why Bet365 allows winning accounts?
It’s important for bookmakers to efficiently manage their risk in order to stay in business. It is precisely for that reason that they set limits on the amounts they can accept in each market. But, risk management is one thing and unfair practices another.
Bet365 lays great emphasis on fair treatment of sports bettors. They do their best to educate sports bettors on how bookmaking business works, so they can make smart choices when deciding between different sports betting deals on the Internet.
Unlike the practices adopted by some of the mainstream bookmakers, Bet365 focuses heavily on risk management activities. Their unique model enables them to allow winning accounts regardless of the amount of money is made on them. Furthermore, they are also able to offer some of the best odds in the online sports betting industry. It’s highly recommended that you place a bet at Bet365 to discover this for yourself!