Fake Bookmakers
Written by
AZ team
Last updated on
When we refer to “fake” bookmakers, we are talking about those betting platforms that you should avoid when placing your bets on sports events. Unfortunately, many online bookmakers fall into this category, and it can be challenging to distinguish between reliable and fraudulent sites. In this guide, we will provide you with essential information to help you recognize the red flags and make smarter choices when selecting an online sportsbook, ensuring a safer and more enjoyable betting experience.
| Highest withdrawal limits Bookmaker | Betonline |
| Highest odds proven Bookmaker | Sportsbetting AG |
Velobet – 9.5/10 rating
⚽ Great range of betting markets
👔 Owner: Santeda International B.V.
📅 Established: 2023
🌎 GEOs: Canada, New Zealand, Finland
🏛️ License: Comoros
Banking
Min. deposit: $20
Max Monthly Withdrawal: $15,000
Withdrawal time: Instant
Advantages
- Generous sport welcome bonus
- Accepts many countries
- New bookmaker with high odds
Cloudbet – 9.5/10 rating
⚽ Over 4000 slots
👔 Owner: Halcyon Super Holdings
📅 Established: 2013
🌎 GEOs: Argentina, New Zealand
🏛️ License: Curaçao
Banking
Min. deposit: 0.001 BTC
Max Monthly Withdrawal: No limit
Withdrawal time: Instant
Advantages
- Accepts many cryptocurrencies
- Loyalty and VIP program
- Big variety of sports betting
Sportsbetting AG – 9/10 rating
⚽ Big variety of sports betting markets
👔 Owner: Itagui Inc
📅 Established: 2011
🌎 GEOs: USA, Canada, New Zealand
🏛️ License: Antigua & Barbuda
Banking
Min. deposit: $20
Max Monthly Withdrawal: $100,000
Withdrawal time: up to 24 hours
Advantages
- Optimized for every device
- Accepts cryptocurrencies
- 24/7 live chat
Betonline – 8.5/10 rating
⚽ Accepts players from many countries
👔 Owner: Imion Limited Casinos, Termas del Arapay Management S.A.
📅 Established: 2004
🌎 GEOs: USA, Canada, Australia
🏛️ License: Panama
Banking
Min. deposit: $20
Max Monthly Withdrawal: No limit
Withdrawal time: Up to 24 hours
Pros
- Many cryptocurrencies available
- 24/7 live chat
- Mobile app
Does the bookmaker have a valid license to operate?
If an online bookmaker lacks a valid operating license, we highly advise against registering and depositing with them or if you decide to deposit don’t risk a lot of money and make a low deposit. There are more unregulated online bookmakers than you might realize, and engaging with them can be quite dangerous.
Several of these unregulated bookmakers may claim to possess a license on their site. Always verify that this is accurate. You should verify with the licensing authority to determine if this is accurate. At times, an online bookmaker might have possessed a license from a gambling authority, but it could have expired, or they may have violated regulations and lost the license.
Look for the official site of the licensing authority and locate the online bookmaker. If they are not listed on the site, they are likely deceiving you about possessing a license. You should exit if you have any uncertainty regarding the validity of an online bookmaker’s license.
Are we claiming that every online bookmaker without a license is fraudulent? What we mean is that we would never advise you to hand over your money to an unlicensed bookmaker. If the bookmaker mistreats you, there is no licensing authority available to whom you can bring your case. You will be by yourself.
Reputable bookmakers spend substantial amounts to secure a license for operation. They understand that this is crucial for their members and fosters trust with them. A licensed bookmaker will make every effort to maintain their license and is more inclined to treat their clients justly compared to unlicensed bookmakers.
Check the reputation of the online bookmaker
If an online bookmaker is fraudulent, there should be many negative reviews about them on the internet. A great way to begin is by exploring active online gambling discussion sites. Participants in these forums typically share honest accounts of their experiences with online betting sites. Locate these forums and look for any online sportsbook that you are considering wagering with.
Some websites maintain blacklists of online bookmakers that have been unfair to their members. Find these websites and verify if the online bookmaker you are thinking about is listed on any of them. You should avoid any online sportsbook that is listed on banned gambling sites.
Discover how many years the online bookmaker has been operating. If they are relatively new, this could be a “red flag.” Some dishonest bookmakers launch as one business, gain a negative reputation, and then reappear as a different company. Certainly, we are not claiming that every new online bookmaker is fraudulent. However, they require time to build their reputation.
