Avoiding Pitfalls of Online Sports Betting

A woman sits on a couch with a laptop, holding a credit card in one hand.

As sports seasons come and go, millions of fans obsess over brackets, picks, and put down real money on the outcome of games and matches. It is now legal in many states to engage in online sports betting, and the industry is growing exponentially. Americans wagered nearly $53 billion last year and the online sports betting industry doubled in size. As when any market grows, legal questions come with it. You can always talk to your attorney through our Legal Protection Plans about any legal questions you may have regarding online gambling (or any other legal questions), but in the meantime, here are four things to remember about online sports betting.

Laws Governing Online Gambling Will Vary From State to State

Nearly half of states have legalized online gambling, but the rules vary depending on where you are; in some states, it's still illegal entirely. The first thing to know is if online gambling is legal where you live. Next, look up the laws in your state, even if it is legal, because the laws, rules, and regulations over online gambling are changing all the time. If you have questions about online sports betting laws in your state, you can consult with your lawyer.

Make Sure The Sports Book You're Using Is Reputable

Don't commit to the first sports book you find, particularly if you're new to online betting. Reputable sports books are more reputable and reliable, and they are more secure. Research any site you're considering, read reviews, and check with the BBB and other review sites to make sure they're legitimate before committing to anything.

Know Your Withdrawal Options

Some sites will require a deposit before allowing you to place bets, and they make withdrawing your winnings difficult. When this happens, it's usually one of two reasons: either withdrawals are not allowed in your state or the site may be a scam or fraud scheme. Because of this, really understanding how gambling sites are allowed to operate in your state - if at all - is extremely important (see above).

Protecting Your Personal Information

It's always important to protect your identity online, and, in a newer industry like online sports betting, there can be scammers in places you might not think of, eager not only to steal your money, but your data and identity, as well. Make sure to keep your passwords long and complicated (this makes them hard to hack), change all your passwords every couple of months, and research any company where you make an account to make sure that use security and encryption and have statements on how your data will be used. We also offer an Identity Theft Protection Service that many be of interest if you plan on participating in online gambling.

If you ever have questions about the legal aspects of life online, you can contact your attorney 24/7 with your questions and get answers, information about your rights, and get legal advice about online gambling, identity theft protection, and many more topics, all for one low, monthly fee of $29.95 for families and individuals. Learn more about our Legal Protection Subscription Plans or Sign Up Now!