Although most Australian punters recognise the TAB as having biggest betting market in the racing industry, online bookmakers are quickly increasing their popularity by offering better odds, more betting markets and superior customer service.
Selecting the right bookmaker can be a lengthy process as there are several factors which punters must consider before signing up.
While their popularity in the racing industry is an important factor, their treatment of customers’ money is the real determining factor.
Generally, after a punter has placed a bet on a race, they should only have to wait a maximum of 4-5 days to collect their winnings after they have requested a withdrawal from their account.
Bookmakers which take several weeks to give punters their money are likely to be either careless or unable to payout all of their customers, which raises questions regarding their financial situation.
Reputable bookmakers will never charge customers withdrawal, credit card or account keeping fees and will also refund customers their wagers if their selected horse is scratched.
The security of the bookmaker’s website is also vital and programs such as Verisign Secure will almost ensure that all your personal information and account details are safe.
The final most important aspect of online bookmakers would definitely be the odds that they offer on various betting markets.
Websites such as way2bet.com.au or bettingshop.com.au will show punters the odds from several online bookmakers on the same event and consequently punters can find the best odds to suit them.
Once a punter has evaluated all of the above criteria, their next step is to sign up with a bookmaker.
To prove a customer’s identity, bookmakers will generally ask for three pieces of ID which add up to 100 points.
Furthermore, if they choose to deposit money into their account via credit card, punters will need to verify their credit card ID.
Once a punter has done all of the above, their next step is to start examining the different betting types available to them and start wagering on some horse races!