Since the H-Man has come on board and gotten off to a solid start we’ve begun to receive several questions about online sports gambling. The following are the things that you need to know:

Is online gambling illegal?

In October 2006, the self-righteous windbags who comprise Congress passed a law that made it illegal for any financial institution to allow their customers to send money to any internet gambling site. They did not make it illegal for individual persons to gamble online.

Furthermore, the services provided by an internet gambling website are not illegal. The only entity that commits a criminal act is the financial institution that allows the individual person to transfer funds to online gambling websites.

Why is it so hard to get money into my account?

With the new legislation your financial institution wants to block you from putting money into your Sportsbook or Bodog account in order for them to avoid committing a criminal act (as noted above). Most major financial institutions have put some form of controls in place to try to comply with the law passed by Congress, however executives from the majority of these institutions have openly admitted that complete compliance is impossible.

How do I get money into my account?

It is not nearly as easy as it use to be. The easiest way to get money into an online account these days is through the use of a credit card not issued by one of the major U.S. based banks. For example, a Capital One card. The other way, which requires some leg work, is to verify your identity with the internet site via faxing a picture ID and some bank information to them.

What if I’m not comfortable giving an internet gambling site my personal info?

In the early 90’s when internet gambling first started to take form there were a few instances where people got ripped off. Basically, payment processors, organized under the laws of various 3rd world countries, would process the transactions for online gambling sites but never send the money to the online site. Instead, they would keep the money for themselves, close up shop, and disappear.

By the mid 90’s, some intelligent businessmen realized that online gambling was here to stay and that reputable online payment processors had the potential to be goldmines. Shortly thereafter, Neteller and Firepay (organized under UK law) were established and quickly became multi-million dollar companies.

Both of these companies still exist but no longer process payments for American citizens due to the October 2006 legislation. Now, the actual internet gambling sites have begun to process the payments themselves. Feeling comfortable with giving these sites your personal info is a matter of personal preference. But keep in mind that these websites (the long established, reputable ones) understand that stealing 200 bucks from individual clients would certainly be to the detriment of their business. An individual client, on average, will lose 10 times their initial deposit over the course of their gambling career.

Are some online gambling sites more reputable than others?

Bodog and Sportsbook are among the most reputable online sites. For example, Sportsbook.com is a publicly traded company on the London stock exchange.

Seeing that these are the most reputable companies, they’re also the websites that have implemented the most new protocols to protect the transfer of money.

From our recent experience, Bodog’s new protocols are extreme and to the detriment of the client. Hence our new affiliation with Sportsbook.com

Also, Sportsbook has these money Nikki Cox banners that we just couldn’t pass on.

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