Is Being a Bookie a Pyramid Scheme


Is Being a Bookie a Pyramid Scheme

The number of online scammers is on the rise. Some people have lost millions of dollars in fake deals and are more skeptical about making online transactions. Still, the gambling industry has some illegal bookmakers that lack betting licenses.

It is necessary to check a sportsbook’s online reviews to determine its authenticity. Here are seven features of a genuine bookie that makes max profits.

Sports Betting

Each bookie covers one or more sports. It is essential to focus on the sports betting markets that a particular site provides if you are only interested in sports.

Some bookie operators specialize in sports played in a specific country, while others cover international sports. Statistics state that sportsbooks that have country-specific sports like Gaelic Football and Hurling have better odds, coverage, and tips.


Most nations have clear gambling laws. Yet, some countries are stricter than others. For example, Saudi Arabia prohibits all forms of gambling, and you cannot find any bookmaking shop there.

Some nations and states allow various types of betting, like online gambling. They have authorities, bodies, or commissions regulating gambling, offering licenses, and monitoring bookies’ activities.


Several bookmakers have gone bust over the last eight years. For example, 666Bet was a famous bookmaker that mysteriously closed down in 2015.

Selecting an unreliable gambling company can make you lose thousands of dollars if it closes abruptly. Also, ensure that the site you will sign up at has the necessary bookmaking technology, and its system can handle huge traffic during peak gambling hours.

Live Gambling

Generally, bookies don’t allow gamblers to continue placing pre-match wagers once a game starts. Instead, they can only place live bets. Yet, this won’t be possible if a website lacks a live gambling feature.

Many established betting companies offer live bet markets for different sports. They allow players to create accumulators and parlays comprising different sporting events.

Live Streaming

As the number of live gamblers continues soaring, many gamblers like watching games that they have wagered on. This has prompted sportsbooks like bet365 to offer live streams for various sports. Even so, you need to have an active gambling account with some money inside, to use this feature.

Getting TV rights for any game isn’t a piece of cake. A bookie or sports channel has to pay a subscription fee and agree to some broadcasting terms and conditions.

Cash Out

A few decades ago, gamblers who placed huge accumulators lost a lot of money if only one game in their bet slips ended contrary to how they had predicted. Today, many betting companies have a cash-out option that allows bettors to settle bets before the last game ends to reduce their losses. 

Moreover, some sites allow people to cash out before matches or races start.


Famous bookies have built a great reputation over the years. They keep gamblers’ financial and personal information safe using encrypted technology. Also, they are transparent and have published all their betting terms and conditions on their websites.

Typically, a company with hundreds of positive reviews and over five years of experience in the betting industry is easier to trust than one launched a few months ago. Some gamblers rate bookies based on their trustworthiness. 

Besides, you are likely to wager at a site that assures you of your privacy and safety for many years.

Many people have lost huge sums of money through pyramid schemes. A reliable gambling site should have a functioning website, reachable customer support, different betting markets, and a valid license. 

You can check detailed reviews of the best sportsbooks from various bookie review forums and sites.

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