Making money through sports betting can be intriguing for some people as they don’t seem to understand how staking money on sports would yield more gains.
Some people despite showing them earnings made via betting find it hard to believe and in some cases see bet as a way to take some part of the money they are managing.
While being scared is normal, you shouldn’t however, not let it deter you from giving it a trial.
Below are some questions some people might be afraid to ask about sports betting in South Africa
1. Is it real?
Even though they see a lot of people doing well for themselves thanks to sports betting, some individuals, however, find it hard to believe it is real.
2. Will the bookmakers not take away my money?
While we don’t dispute that there are some bookmakers you should be wary of as they can take away the money you stake on your bet. However, the best way to avoid this is to register with government licensed bookmakers.
3. Is it addictive?
Sports betting is only meant to be done for leisure or as a pastime. It is a way to make money while catching fun. For you not to be addicted, you need to see it as the fun it is and learn when to stop.
4. What happens when I lose?
There are times when you will lose but those time are rare if you carry out good statistics and research. However, when you lose, see it as one of those things and move on.
5. What happens when I win big?
Some people believe they wouldn’t be able to cash out if they win big. Well, you are rest assured that no matter how much you win, you will be paid, so long you are registered with a regulated bookmaker.
6. Will I pay tax if I win big?
No, you wouldn’t. You as a bettor are not expected to pay tax at all on your winning only bookmakers are responsible for that.