Bookmakers – Introduction and analysis of the best bookmakers in New Zealand
The basic principle of bookmaking is straightforward and pretty obvious. A bookmaker takes money in whenever they lay a bet to a customer, and they pay money out every time one of their customers wins a bet. The idea is to take more money than to pay out. The art of bookmaking is in making sure this happens. Bookmakers can't control the outcome of sports events, but they can control how much they stand to win or lose on any particular result. They set the odds for all the wagers they lay, which ultimately enables them to ensure a profit.
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The Fair Market & The Bookmaker’s Margins
To understand the mechanics behind a bookie’s cut, it is useful to imagine a bet on a coin toss. You and a friend bet $100, each to win $100. You win if it lands on heads, your friend wins if it’s tails. When tossing a coin, you’d expect that the likelihood of getting ‘heads’ is equal to the probability of getting ‘tails’. It’s a 50 – 50 situation. This is a ‘fair market’ situation – the odds are an even 2.00 on both heads and tails.
But the bookmaker will never present odds that are equal. Rather than giving balanced out odds, bookies apply margins to the odds. If the bookmaker sets the margin at 105%, your odds will be presented as 1.90, and you will get €90 profit, not $100. This means that despite winning, you will lose out on $10 to the bookmaker. This is how bookies make their money.
What we need to know about online bookmakers
Every bookmaker today develops their own website which presents their services online. Years ago, bookmakers would only provide bets through their local posts. Well, things are very different today and for years the bookmaker websites have been put on the map, and the betting business has reached colossal proportions. One of the benefits of such bookmaker websites is that you can make your bets while sitting comfortably in front of your computer. There is also the fact that anyone can place their bets through their mobile devices since most bookmakers have specially developed mobile versions of the websites as well as downloadable applications. Such versions and applications have been developed to be compatible with smartphones and tablets. With time, practicality and simplicity have taken over betting at local posts since people feel much more comfortable placing their bets online. New Zealand is no exception, having plenty of bookmakers; and the players are one of the biggest supporters of such gambling.
So let us summarize the benefits of online bookmakers:
- Practicality – There is no need to travel to a local bar or betting post
- The placing of bets is done from the comfort of your own home, or while you’re on the road, through your mobile device.
- Variety of payment methods – Yes, you can use a wide range of payment methods on the websites.
- Customer care – Every self-respecting bookmaker has a separate section dedicated strictly to the needs of its customers.
- Bonuses – One of the biggest reasons why people have started using online betting. You can emerge yourself into the world of online betting because through the bonuses (especially the free ones) you can familiarize yourself with the entire process. This way you will be able to establish the basics and acquire an accurate assessment of how to place bets in the future.
- Live bets – As with local betting posts, you can bet on live-stream games in the online world as well.
- Live-streaming – Before, it might have been necessary to have cable or satellite in order to watch a given game or match, but now you can live-stream hundreds of sports and championships. The best part is that everything on the bookmaker websites is streamed via video.
- Almost all of the leading bookmaker websites already have an option to stop a bet, called CASH-OUT or STOP-LOSS.
What are some of the disadvantages of bookmakers and in particular, online betting?
- There are few websites where you will find such appealing and fair coefficients. Here, at NewCasinos.nz we only present bookmakers offering competitive and high coefficients.
- Many websites do not accept players from foreign countries. Unfortunately, a number of such websites are still fighting to get their license so as to operate legally.
- Many bookmakers put limits to their players.
- There is a deadline for paying out the reward for many of the payment methods. We urge you to use the money transfer option of Moneybookers or another electronic wallet. However, if you are willing to wait 1-5 days, then the sure fire way of paying would be using debit or credit cards, or through way of a bank transfer.
You can see for yourselves that the advantages are far more than the disadvantages, and overall, the negatives are far less insignificant.
Using multiple betting sites
If you find that you are getting poor service, having difficulty with deposits and withdrawals or experiencing limited coverage of the areas on which you would like to bet, then it may be time for you to explore other options. In the world of sports betting there is no need to have absolute loyalty to any one bookmaker, and it is perfectly acceptable to use multiple bookmakers. In fact, that can even be an advantage when seeking best odds and taking advantage of promotions and betting offers.
What should we focus on when choosing a bookmaker?
1. A gambling license
Should we play on bookmaker websites that possess a license or those who have not yet acquired one?
Many of the players, especially those who are new, cannot yet decide whether to place bets on licensed bookmaker websites or on those who have not yet been legalized for a lot of countries. As you may know, State commissions for gambling for Gibraltar and Malta have acquired licenses for a number of bookmakers such as: Betsson, Betsafe, Guts and others. In many countries, in order to be completely accessible, the local State needs to issue a license as well for the territory with which the bookmakers wish to be in business with. Thanks to this, the players are able to access the official websites without any issues, and on the other hand the bookmakers are able to pay the taxes to that particular country. Betfair followed in the footsteps of the aforementioned companies and after many disputes, they acquired a license of their own for most countries in the European Union. And with that comes the unhindered access and clarity that this bookmaker has fulfilled all of the requirements.
However, the fact that a certain bookmaker has not yet acquired a license for a particular country, does not in any way mean that they do not offer good conditions or indicators. Betsson is an example of such a bookmaker who has tried for some time to acquire a license for many countries, and in the end succeeded, for the most part. As they do already have a legal license, you can successfully register on their website without worrying they there would be any access restrictions. Betsafe is yet another example of a website that does not have a license for many countries, but the players can access it through an alternative address.
Advantages of licensed bookmakers:
- They operate and pay their taxes legally. In this way they have verified their request for a serious brand and a sure bookmaker;
- There is no need to search for mirror websites and alternative links to provide access;
- Most of them also have an New Zealand version of the website as well as customer care provided by a team of experts.
Non-Licensed bookmakers:
- You need to use alternative connections to access the websites;
- Even though they are not legal, they still have good offers such as: coefficients, bonuses, payouts and extras.
2. Payment Methods
- First off, it is important to check what kind of deposit and withdrawal methods are allowed by the particular website. There should be the most popular and convenient ones such as: debit and credit cards, Moneybookers, bank transfer or others. See our full listing of casino payment methods here.
- Secondly, you should check if there is a tax when depositing or withdrawing money. Usually, no such tax exists, but if there is one then it would be minimal. Familiarize yourselves with the type of tax!
- What are the limits for placing bets – what is the minimal deposit and how much can you bet.
- How long it will take for your money to reach you with each different payment method. As we have mentioned, with most methods it takes 1-5 days, whereas with electronic wallets such as Neteller or Skrill, the process will only take minutes.
3. New player bonuses and other promotions
One of the most discussed factors is the existence of bonuses amongst online bookmakers. Without doubt, this can be a huge plus, especially if a certain website offers you a compensation-free starting bonus. In this way you will be able to familiarize yourselves with the way the game is played and all of its online distinctions. The best part is that you will not be losing any of your own money but rather the money given to you by the bookmaker.
Aside from the compensation-free bonuses, there are also those bonuses that you receive for a first-time deposit. Some are 50% of the overall bet that you have placed and others are 100%. But do not let yourself be tricked if a particular bookmaker is giving you a larger amount as a bonus! It is important to know that the larger bonuses are bound with even more requirements. This way the money gets rolled over and only after that are you able to withdraw the sum total. We recommend that you focus on bookmakers giving out smaller bonuses, with simpler requirements for money roll over where you are not as bound.
Bonuses for registered clients
Even though some bookmakers may have some unappealing bonuses for new players, they might be among the best in bonus offers for players who have already been registered. You should always familiarize yourself with all of the requirements and all other information about bonuses for every bookmaker!
4. Betting possibilities and offered championships
Any good bookmaker must combine many different sports and, respectively, an assortment of championships and divisions. If you are set on betting on any particular matches that are not available on a certain bookmakers that would definitely be a sign that you should look to another one. It is crucial that you choose a bookmaker that not only offers all the standard options for the end result, but also includes the following for all of matches and bets. In football betting important betting options are:
-Half-times (first/last)
-Number of corners
-Goals (over/under)
-Cards
-Violations/Fouls
-Goalscorers
-Asian Handicap
5. Real-time bets and live streaming
There probably isn’t a single player who does not deal in real-life betting. This kind of betting is far more dynamic, offers more adrenalin and in most cases the coefficients are considerably higher. This is the reason why most players choose bookmakers that offer real-time bets. It is important to mention that you should pay attention to the number of broadcasted matches, as there are many websites who do in fact offer real-time bets, but there are not as many available matches. The leading online bookmakers offer more than 20 000 matches a month available for real-time bets. Such a bookmaker in Europe would be Nordicbet. You can read all about what they offer in our review.
Live-streaming
Live-streaming allows you to watch any live match. Live video streaming directly from the bookmaker website contributes for better tracking of the development of matches. This way you can easily come to conclusions and respectively place your bets with the hope that they are the most reasonable. The quality websites offer more than 2000 live-stream matches a month.
6. Mobile versions and available applications
Very important factors in choosing a bookmaker! There is no way around these criteria since more and more players place their bet through their mobile devices. It is absolutely crucial for a bookmaker website to have developed a mobile version compatible with all mobile devices. Even though a large number of websites already have a mobile version, not all of them have the so-called responsive. This kind of design is specially made for mobile devices. Through it the loading of a website is optimized for any device as well as almost any screen resolution.
You should also look for a bookmaker that has specially developed mobile applications for all the leading smartphones and tablets. Such applications are available mostly for Android devices (Samsung, HTC, Lenovo, a number of tablets, and others), iOS ( Iphones and Ipads), phones with Windows mobile software, and even some Blackberry models.
7. Customer care and support
We advise you to check up on how you can get in touch with the particular bookmaker that you have chosen. Check if the bookmaker offers a 24 hour care and support and if it is through phone, live-chat, email and so one. Our advice is that you choose a bookmaker that offers all of these contact options. Also, you should make sure that their customer care and support team is highly rated and have only positive reviews written about them!
To summarize
To ensura that they make a profit sportsbooks have no interest in offering true odds at any time. They make their money from offering odds that give them an edge at all times. That doesn’t mean, though, that true odds or better can’t be found at times with hard work and focus. That’s the job of a successful bettor. Focus on finding your edge, sport and strategy. Once you have the right bookmaker to support you, knowledge and experience will take you a long way.
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