- Updated: 31st July 2019
Another technical article, taking advantage of the “trend” that exists at the moment, with so much discussion regarding betting brokers, with a lot of names coming up. Inside Bet comes with this article enlighten, warn and especially present what are these betting brokers that have been trending lately amongst punters.
Betting Brokers: For those that are familiar with stock market vocabulary, you might understand the definition of broker easier…
Let’s say it is an institution that is directly related with the stock market and that buys and sells stocks for the client, which is for example what a bank does as well.
Now over to the betting world: the same thing happens, but instead of the stock market, it happens with the several bookmakers of the entire world. Let’s say that a broker has a commercial relationship, where they can make best on bookmakers where most of us can’t even enter, let alone have an account.
Betting Brokers: Let’s go step by step:
A broker accepts a client/punter, and then the punter can make his bets on the several bookmakers that broker has a commercial relationship with through a platform.
Let’s go into details, that I will try to enumerate by topics, with questions and answers, so it’s easier to understand. Does the broker bet on my behalf?
Yes, the punter registered on one of those platforms places a bet on the platform and the broker will find the best odds/bookmaker to place that bet.
Normally the punter selects the desired odds, obviously choosing the highest ones.
Obviously, the platforms allows you to know where those odds are (bookmakers) and what is the price, as well as the value that is available to be wagered.
Is the punter’s money on the bookmaker?
No! The punter’s money is in the “hands” of the broker, he is the one that manages the bankroll.
That’s where he removes a bet placed by a punter and returns or even adds more money according to whether the bets are won or lost.
Therefore, the money you’ve deposited is always with the broker and not with the bookmakers.
That also wouldn’t be viable because the platform allows you to bet in more than one bookmaker.
Are the odds attractive?
Yes, definitely. The fact that you can have Asian bookmakers available answers this question on its own.
The broker always has Asian bookmakers available, and they normally offer the most competitive odds in the market.
Does the broker offer an Exchange?
Yes, a lot of broker have that trading option, offering on their platform exchange bookmakers like Betfair for example.
What are the markets that are available?
The broker doesn’t have all the markets available, since they are more focused in fulfilling the needs of professional punters, so they offer more Asian lines.
For example, they don’t offer “Both teams to score”, who scores first, BTTS & Over 2.5 Goals.
The broker only offers the Asian lines because those are the ones the professionals work with.
Is it accessible?
I’ll split this answer into 3 portions: The platforms presented are definitely easy-to-use and easy to understand.
However, they aren’t accessible to any punter, because many brokers require conditions that are only within reach of some.
They aren’t available to everyone, because not everyone has the information at their disposal, such as the companies’ names and headquarters as well as feedbacks regarding their broker/punter relationships.
The information isn’t easily accessible at all.
Is it safe?
Well, that’s the toughest question to answer, because it is an unknown entity, which means the feedback is always given by the punters, and normally, there aren’t any complaints or any other kind of unusual situations.
Furthermore, we inform you of all the pros and cons.
We are aware that there were brokers that simply left the market, with even their website disappearing, which means you should be really careful when choosing a broker.
Basically and answering the question: is it safe to bet this way?
No, because very little is known about them, and many don’t even know their origin. Obviously, since it is not regulated, there are dangers that are inherent to this situation in England for example.
Is it legal?
That is another question that might be easy to answer: It is not legal, because in England, there’s nothing that mentions this in the Law, and the regulator didn’t approve any broker in order for them to operate in England.
Others may say that this is a “legal loophole” because the law that regulates betting doesn’t directly mention this kind of scenario.
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Others might also say that it is illegal, saying that the law is clear, and if it isn’t approved by the regulator, it is therefore illegal.
We leave these matters to the true specialists on this topic.
Is it advantageous?
Foreign punters are starting to value this kind of brokers, the reliable ones of course.
It allows you to centralize your money on one-place instead of spreading it out across several bookmakers.
That situation allows you to bet more and with more quality, knowing that the brokers offer the best odds at any given time.
Many consider this situation very specific and very advantageous, and we tend to agree.
Do they charge commissions or rollover?
Yes, a lot of brokers deposit and withdrawal fees.
But currently we are already used to that with some bookmakers that also charge those fees.
Many of them even force you to have a determined betting volume throughout the month.
Let’s say that volume might be inappropriate or crazy for most of us, because it can force you to have a very high average stake.
Do they offer deposit bonuses?
No, a broker doesn’t offer any bonuses. What can happen is there are some agents that might offer more conditions than the broker itself.
What do the professionals say?
Well, what we’ve been hearing is that a lot of people have been utilizing this solution and even in countries where betting is practically non-regulated and free, which means it can be a good solution.
What’s strange is that in those countries, the offer is huge, but many people say that, it might be a good tool for people to work as professionals in the online betting world.
Betting brokers: Summary
To summarize, everything has pros and cons, but we’ll state that we lack content in order to make a better judgement about brokers.
Many might be left with the impression that this is somewhat “shady” and we tend to agree, but as time goes by, their image has been getting clearer and better.
That leads us to conclude that, if we’re hearing more and more about them, it’s because they are looking for client or because they are more exposed now. That can be a strategy or a good solution for some punters and countries.
Once again, we want to warn that, according to the Law, it should always be considered illegal, because the regulator doesn’t say anything regarding its legality.
It is up to you to make your own analysis, but many of you will automatically not want to use them, because a lot of the brokers require you to transact a very high volume, which ends up fending off casual punters.
To the professionals or those that are close to that, the brokers might offer advantageous conditions for the future.
Many have the financial ability to do that and are more experienced in the betting world, which means they know very well how to handle that.
Here we left another analysis, this time somewhat mild, because we know that a lot was probably not approached in this article, but since this is a topic that is still a mystery for many, while being completely unknown for others, it also means we have very little information that’s valid and credible in order to speak about the brokers more specifically.