One of the many innovations made possible by the Internet is online betting. Where it was once necessary to travel to a casino, betting parlor, or horse racing track to participate in any of the many available forms of wagering, it is now possible to engage in virtually any of these activities from the comfort of one’s home. Everything from poker to sports betting to wagering on horse races is now possible online through an incredibly wide range of sites, some specializing in one form of wagering with others offering numerous types of betting choices. One such site is Bat365 who are the leaders in online cricket betting. Online betting has seen very fast-paced growth.
The first step to online betting is to establish an account with a reputable betting site. This requires completion of an online application that asks for some personal information. This information will likely include a tax identification number or Social Security number for US residents. This identification is needed, in part, because the website will need to withhold taxes from winning bets with odds that exceed a certain threshold. In other words, if you hit a big payoff, the site will automatically withhold taxes from the proceeds deposited back into your account.
There are several ways to fund an account. The immediate way to fund an account is by credit card, although some cards in the US restrict charges to gambling sites. Others allow charges, but restrict the frequency and amount. Checks or bank wire transfers can also be used, although these are not instantaneous. Some sites allow for direct linking to a bank checking or savings account so that money can smoothly flow back and forth between your bank account and your online betting account. Deposits to or withdrawals from your online account via this method are usually credited or debited instantaneously, with the corresponding debit or credit to your bank account occurring a couple days later.
One exciting aspect of setting up a new account is getting free bets as a promotion by the online site. In some cases, your account will be credited with a money deposit once you have placed wagers totaling a certain amount. For example, one online horse race betting site will deposit $100 into your account if you have made bets totaling $500 within the first 30 days of opening your new account. In general, virtually all online bookmakers offer some sort of a free bet package upon the opening of a new account. Most have some conditions, such as a minimum initial deposit or minimum amount of betting activity within a specific time.
There are many types of online betting sites. For example, a number of sites specialize in online horse racing betting. On these sites, the player can make any type of bet available at the track and can choose from a wide range of tracks to play. Most of the most popular sites offer play at almost all of the active tracks on a given day. Even more exciting for horse players is opportunity to watch the races live through video streaming. Online casinos offer games such as blackjack, roulette and baccarat where online players compete against the house. They have popular poker games in which players compete at virtual tables against each other or in tournament play. The site makes its money through commission and tournament fees. There are even online bingo sites.
Online betting sites provide the opportunity to wager on virtually any sporting event, just like in Las Vegas. An emerging feature for many sports betting sites is ‘in-play’ gambling, where players wager not only on the game’s outcome, but also on events within the game. For example, players can wager on the next player to receive a penalty or the next team to score. And event-based betting is not just limited to sports. Some sites allow wagering on the outcome of TV shows, such as Dancing With the Stars.