There are a plethora of sportsbooks online. Although many are reliable, numerous successful sports bettors lose money because they fall victim to rogue sportsbooks.
Rogue sportsbooks are sportsbooks that end up defaulting on players' winnings, so leaving successful sports bettors left with nothing to show for their winning bets. Just like sportsbooks in general, not all rogue sportsbooks are the same. They typically fall into two categories.
The first category includes the fly-by-night sportsbooks that open up with the intent to scam their customers. These sportsbooks are only open for a short period of time and then go out of business. When these operations shut down their websites, they take any money that is owed to their winning players with them.
Even if a bettor requests a payout from one of these scam sportsbooks prior to them closing up shop, they will stall the payment as long as they can. They will slowly process the request in hopes that the bettor either loses the money back or until they decide to go out of business and take the money with them.
Not all rogue sportsbooks open up shop with the intent to defraud their players. Some sportsbooks begin their operation with the best intentions but lack the capital to fund their business venture. After offering bonuses to increase their betting handle and paying out all other business expenses (employees 'wages, site maintenance, etc.), they do not have sufficient capital left over to cover the cost of their players' winning bets.
Unfortunately, these companies end up resorting to the same tactics as the scam sportsbooks. In some cases, they will be purchased by a well-established, trustworthy sportsbook who will assume the debt and process the payouts to the winning players.
As part of your research, you should read online sportsbook reviews from people that have individually reviewed and placed bets at these sportsbooks. Another way is to ask online sports bettors about sportsbooks that they have used and their experiences with those sportsbooks.
The path to successful sports betting starts with a highly regarded sportsbook. Do not get burned by a rogue sportsbook. Do your homework to ensure that you place bets with only reliable and dependable online sportsbooks.