Online sports betting has become a multi-million dollar industry in just a few short years. While it was once only accessible to a few hardy hackers, today anyone with internet access can participate. In North Korea, people have been using sportsbooks for online betting for years.
How does it work: You open up an account with a reputable bookmaker and transfer funds from your bank to it with no hassle. All reputable online sports betting websites provide NTP (Internet transaction protocol) based wire transfers from your bank to the bookmakers account. Once you’ve verified your account, you then log in to your online sports betting account and place a bet. All legitimate online sports betting websites allow you to place bets while staying within the safe confines of your own home. You never have to leave your desk or be physically present to partake in your bet.
The bookmakers will provide odds on what games will likely be played based on all public information. Their goal is to get you to bet with them based on their recommendations. However, not all bookies follow international betting Odds standards. Some will only post betting odds which are in accordance with their local laws. For example, some south Korea bookies won’t post winning odds internationally because they believe that if they do, south Koreans will lose their mind.
Another illegal activity that is prevalent in south Korea is called betting on horses. Many of the locals participating in online sports betting will attempt to get others to bet on their horse race or soccer match. The problem is that the laws governing sports gambling in south Korea aren’t as stringent as the laws of other countries. This means that some of the standards used to determine which individuals can place bets on horses are being violated. Some bookies have been caught circumventing the law and this often leads to the loss of players and funds.
In addition to failing to follow local laws, many south Korean bettors make the mistake of leaving their money with the first online sports betting site they find. When a client makes a deposit it can be anywhere from a few hundred dollars to tens of thousands of dollars. This means that each bettor has a different financial interest. It’s easy for someone with a lot of money to start betting hundreds of times per week on a particular sport, but what about someone who only has a little money?
Not all betting websites offer the same choices for bettors. Some will allow you to make “teasers” or bets which are the smaller variety. Other options available to south Korean bettors include fixed odds and multiple choice.
Fixed odds are what many people familiar with online sports betting would consider the more traditional system. These online sports betting systems use a number of variables to figure how likely something is going to happen. For example, if a team is favored to win by five points at a game, then that team’s chances of winning that game in the future are five times the number of points that were used as the betting points. The variable used to determine the odds may be something like the recent trend for the Dow Jones Industrial Average or the recent performance of the American dollar.
There are other types of betting systems which are slightly less traditional but also more effective. One such system, which can be used by south Korea sports bettors is called the Bot. This works much like an automated system because it notifies users about changes in the odds which is calculated based on the current conditions of the game. The use of Odds Bot has helped south Korea sports bettors to double their winnings over the past few years. It may just be the edge they need to stand above the rest of the sports bettors.