BettingTop10 South Africa – Frequently Asked Questions
BettingTop10 has listed some Frequently Asked Questions (FAQs) to assist you with any help you may need. If you can’t find your issue here, please email us on [email protected].
How To Use Betting Sites
How do you place a bet?
Placing a bet online generally follows the same process regardless of the operator you choose to use for your wagering. Visit your chosen bookmaker to register for an account, deposit some funds and you’re ready to play.
Most betting sites cover a vast range of sports betting and events, with many offering bonuses and rewards just for depositing and betting with them. Use the sportsbook menu to find your chosen sport and market, click or tap the odds of your bet to add to your betting slip. To build an accumulator, continue to click on the odds of your required selections and they will also appear on the bet slip which is usually on the right of the page. When you are happy with your selection(s), enter your stake and hit the ‘Place Bet’ button to confirm.
How do you deposit & withdraw from an online bookmaker?
If you’re looking to deposit real money into an online betting account you will find a range of options are available. Credit and debit cards are popular methods, but e-Wallets have also become fashionable in recent years. The payment process tends to be very similar at all online bookmakers, so following the steps below should help you along the way.
- Log into your account and look for the ‘My Account’ section. This is normally accessed somewhere in the top navigation bar
- Find the deposit section which is usually referred to as banking, deposits or funding
- Choose the option you prefer and enter the amount you want to deposit along with any details required to process the payment
- Hit the submit button and the funds will be added to your account. This is generally instant with most methods
- Log into your account and visit the banking section and look for ‘withdrawals’
- Choose how you’d like to withdraw – it will usually be the same way you deposited
- Choose the amount you want to withdraw and hit the submit button
- You may be required to supply ID of some kind at this stage. This a normal process and helps to prevent money laundering
- Payment times vary between different operators and methods, but 2/3 working days to hit your account tends to be the industry average
How much can I bet?
Many operators implement minimum and maximum bet amounts, so check these out in their terms and conditions before placing any wagers. There may also be a limit on the total payout they will provide to punters.
How do bookmakers set their odds?
A bookmaker’s main aim is to try to ensure that they make a profit on every event, no matter what the outcome. Bookies will look at previous form, statistics, historical precedents, expert opinion and many other factors before setting their odds.
The margin which the bookmaker attempts to build into every market they set odds for is based upon the notion that punters will bet in similar proportions to the true odds of the event’s outcomes which they have determined. Obviously odds can fluctuate if betting patterns differ from what is expected. Changing the odds to balance liability is the main reason odds change after the initial prices have been set.
Legal and safety questions
Is online betting legal in South Africa?
Each of South Africa’s nine provinces has a gambling and racing board. To offer online betting, bookies must be licensed by one of these boards. The Western Cape Gambling and Racing Board (WCGRB) is currently largest provider of online bookmaker licenses.
At what age can I legally use an online betting site?
You must be aged 18 or above in order to place a bet with all online betting sites in South Africa. The majority of operators will conduct identity checks when you sign-up to ensure that you are not gambling illegally. This will usually be a copy of your South African identification document (or passport) together with a utility bill displaying your full name and address (no older than three months).
Will my winnings be taxed?
South Africa doesn’t generally tax gambling winnings. You may be required to report large winnings to the South African Revenue Service, but your windfall won’t be subject to capital gains taxes. Professional gamblers may wish to consult with an accountant to discuss any financial obligations they may incur.
What are wagering requirements?
Most online sportsbooks offer a range of bonuses and promotions to both new and existing customers. Wagering requirements are the conditions you must meet to be able to withdraw any winnings which are linked to these offers. All bonuses have terms and conditions and it’s these that determine what a punter must wager to be able to withdraw bonus cash or winnings associated with that cash.
Is online betting safe?
In order to be an approved, secure online sportsbook, the operator must be licensed by an accredited gambling authority. The sportsbook should have a reference to its licensing directly on its website with a logo and a clickable link that shows where it is licensed and its licensing number. Reputable operators will also employ strict privacy policies relating to personal information to ensure this is kept safe and secure.
Where to bet?
The betting industry is a competitive sector and companies will try to lure you in to wager with them and only them. Bonuses, promotions and loyalty schemes are amongst the methods used by operators to retain your custom, but don’t be afraid to shop around and have accounts at numerous sites.
We’ve spent loads of time researching the top bookies to bring you detailed information about each of them, so spend time reading our reviews to find out exactly what to expect from an operator before you sign-up for an account.