Are you curious about all of the good things you are hearing about the US friendly BetOnline racebook (www.betonline.com)? Each year, Advantage Wagering offers a guide to the Top 5 Racebooks. In 2011, one of those choices was BetOnline (with BetOnline being a recently new gaming site). In addition to offering bets on other sports and giving you opportunities for poker or casino games, there is also a horse betting racebook available on the BetOnline webpage. For these reasons, you know that you can have big expectations for this website.
Why horse racing fans are using BetOnline
As one of the first wagering sites on the internet, there is always a lot of buzz about BetOnline and their racebooks. There are many reasons why fans are moving on to the internet and the main one is that they do not live next to a track. For most, the hook occurs around the time of the Kentucky Derby or other key racing events.
These bettors may be accustomed to betting at their local track or on other sports online. Interestingly, when they go to the Churchill Downs website to place their bet, they are informed to go the track or go to another online third party betting source. Naturally, this soon leads to a search for the perfect website and BetOnline rises to the top due to its bankrolling options.
BetOnline – Easiest way to fund a bankroll
The BetOnline website ensures potential customers that they are attempting to maintain the largest number of bankroll funding options. This is great news for racebook fans that are tired of being restricted to a major credit card. Instead, BetOnline opens their doors to financial services that you may not have heard of such as Person to Person from VISA, money orders, MoneyBookers.com, Book to Book, NetTeller, BankWire and traditional checks.
What to expect from BetOnline racebook payouts
When it comes to getting the money you have won from a bet, there may be exceptions. For instance, they have a minimum withdrawal and a daily maximum transfer. This means you need to have $50 in payouts before you can transfer it to your bank account with a check.
You will also be restricted to $2,500 a day with a check. For other online banking companies like NetTeller or MoneyBooker, you have fluctuations from a $25 minimum to a $15,000 maximum. For these reasons, be sure to check with these minimums before you sign on with one company to handle all of your bankrolling funds for your account.
To initiate the payout, you will need to click on the payouts request in the “my account” section. Afterwards, you allow for 24 hours to pass and then you will receive a response. There are some payout stipulations such as no third party payouts. They also restrict payouts to Monday through Friday and are closed on holidays. Credit and prepaid cards will have a minimum of seven business days to wait between making your first deposit and then making a payout withdrawal.
Freebies, rebates, and racebook promotions
Like all websites, BetOnline offers benefits to their loyal customers. Their main bonus for racing bettors is the 7% rebate promotion. When you click on their terms link, you soon learn there are a few stipulations to this program. Bets that are ineligible for the rebate include any wagers that payout $2.20 or less for a $2 wager, category D and E tracks, fixed odds bets, prepositional bets, and matchup bets.
Also keep in mind that internet bettors will receive the 7% but those using a telephone number to place wagers will only get 4%. Like many websites, they also do not refund wagers on horses that have been scratched (drop out of the race).
On the up side, there is no limit to how much a bettor can earn. There is also a $50.00 discount once every 30 days. There is a trick to this $50.00 in that you must take advantage of it by requesting it with your payout.
No problem for BetOnline bad press
In the recent past, there were headlines implicating BetOnline as being part of the mafia. Is this true? As it turns out, there are certain ways that a website will be treated if the United States government says that it is operating illegally. Namely, they will place a block on the website or inform you by shutting off your internet service temporarily. They will not, however, come after individuals that are not aware they are using an illegal website.
In all actuality, there are no blocks or bans on BetOnline. Instead, they are a company based in Panama and this allows them to be legal. According to laws, websites can only be operated out of states like Nevada and other countries.
There are also a large number of legal wagering websites in Europe and around the world. Regardless, some U.S. states are prohibiting these kinds of websites altogether. Again, users only need to be concerned when they are blocked or alerted by their web provider.
Either way, you are always safe with BetOnline. If you get caught up in some sort of struggle, there is a customer service telephone number that allows you to withdrawal your bankroll. That number is 1-888-426-3661 or 507-206-3369.