How Safe Are Sports Bets – Gambling Or Professionalism

How Safe Are Sports Bets – Gambling Or Professionalism

Sports bets is a hobby in Germany. They are placed by millions of people in this country every weekend on very different sports. But there is also a small part of the players who play professional sports betting and thus earn the main income. But is that even possible? Is it possible to finance a whole life or even the family with sports betting? In addition, the question arises as to how safe sports betting is.

Is it simple gambling with a high risk or are sports betting a precisely planned activity that requires a sure instinct? The following article explains the most important factors about sports betting and how safe they can be. On the one hand, this raises the question of how secure the offer itself is, i.e. which criteria speak for a secure and trustworthy betting provider and which success factors exist for sports betting.

The business with luck

The Internet has brought many innovations to the market and made life easier, faster and safer in many ways. The Internet and the companies that operate on it are experiencing a boom. Among them, of course, is the business with happiness and sport. The gambling sector with online casinos and sports betting providers is now available in large numbers and the providers advertise with various offers, bonuses and bonuses. In former times the gambling sector was still state-monopolised.

In 2011 there was a partial opening of the market, which made it possible for foreign companies to access the German market. The legality of sports betting on the Internet is still being publicly questioned. In a nutshell, only the following can be said. Online sports betting is completely legal in Germany and nobody is liable to prosecution. For that there are numerous criteria, which prove the legality of sport bets and the offerer.

 

The tax for sport bets

A sign of the legality of sports betting is the betting tax of five percent. The German betting tax, which has applied to online betting providers since July 2012 and has to be paid to the tax office for all customer tips, is not only for the state itself. On the other hand, this guarantees the security and legality of sports betting for customers.

The simple principle behind this conclusion is that the state would certainly not levy a tax on an illegal activity. Thus the tax, which one or the other player notices negatively, has positive consequences on the other side for the business with sports betting. More info on: https://openodds.com/

 

The hallmarks of a secure provider

The basis for a secure and reputable betting provider is the license for gambling. In Germany, sports betting is regulated by the Gaming Act. This has the basis that the result of sports betting lies in the future and is influenced by chance. Be that as it may, the license is the very first criterion to which attention must be paid in any case. The licences come from a few countries where gambling has been legal for some time.

As a result, there are clear but strict regulations for companies. However, these have only advantages for all involved. The companies can plan and realize their business activities on the legal basis and the customers can fall back on a regulated and state-examined offer of sports bets. So if you can’t find a license when looking for a trustworthy betting provider, that’s a bad sign. In order to operate legally as a bookmaker, an official and, of course, valid license from a regulatory authority must be in place.

The licenses provide information that the provider has been thoroughly checked by at least one official authority. The check relates to certain factors such as data protection, security and offer. As a rule, it can be assumed that a provider who does not have a license does not offer extensive protection or at least performs worse. Therefore, in this case, the search should be driven forward and a company with a license should be selected. But now that there are several hundred licensed bookmakers on the market, the search should not take too long.

Further criteria for security are the additional certificates that a platform receives. Similar to a seal of approval for a supermarket product, they provide further information about the security, data protection and performance of the site. The certificates and test seals come from the German side, for example from TÜV or the German lottery company.

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