In the Spotlight
by J. Phillip Vogel
Canbet has been providing online and telephone wagering on American and international sporting events since 1996. They are publicly traded and are Australia's 348th largest company (6th in terms of revenue growth thanks in part to, as Canbet puts it, "the exodus of sports bettors away from financially unstable offshore books").
Canbet offers an impressive array of wagering opportunities including: NFL, college football, arena football, CFL, NBA, college basketball, WNBA, MLB, NHL, golf, tennis, auto racing (including Formula One), boxing, extensive worldwide soccer, and cricket. Canbet's available bet types are equally as extensive and include: sides, totals, parlays (including cross-sport), teasers, round robins, money lines, halves on all NFL and NBA and selected other games, quarters on NFL televised games and playoffs, and NBA playoffs, futures, and props.
Canbet also offers perpetually reduced vigorish on straight bets and parlays. Specifically, all NFL, college football, NBA, and college basketball sides and totals, and baseball totals and runlines are at -107 rather than the industry standard of -110. This is available EVERYDAY and on ALL games (unlike some books that mislead you into thinking this and then you find out that it's limited only to certain games or days of the week). This "built in" bonus winds up being much better in the long run than the one-time signup bonuses offered at some sportsbooks. Add to this a customer support team that in all likelihood is the friendliest and most helpful in the industry, and it's easy to understand why Canbet has such a good reputation.
Canbet claims the title of World's Safest Internet Sportsbook. Although at first glance this seems like just clever marketing lingo, on closer inspection there are several very compelling reasons for their holding this prestigious title.
For starters, Canbet is the only sportsbook licensed in not one, but TWO, first world jurisdictions - England and Australia. What's more, they comply with the regulations of both countries, which results in more safeguards for customers than would result from either jurisdiction alone (let alone when compared to most books out there that comply with no regulations at all).
Australia is one of the most highly regulated countries for Internet gambling. There, government regulations require safeguards for the protection of the bettors. These safeguards state that, "Bookmakers are required to keep punters' (bettors) monies separate from their own in a segregated trust account; all bets are to be recorded by the government regulator; and those records are available if the officials need to arbitrate on a dispute."
Now I know that right about now many of you are thinking that you're not worried about it because the offshore sportsbook you are currently patronizing has always paid you in the past. The problem with this line of thinking is that it assumes that the book is in good financial shape. Unfortunately it's common practice among unregulated books to use their customer's bankrolls to pay for their overhead and marketing expenses. Essentially they are gambling with their customer's money and when they lose, which many have and continue to do, they close up shop. The Australian regulation makes this impossible. With Canbet this simply cannot happen.
Add to this stringent UK regulations, including the need to demonstrate cash reserves sufficient to cover the outcomes of all bets placed, and you can see why bettors have a higher level of security with Canbet than with any other book.
With UK and Australian safeguards, strong financial backing, and reduced vigorish, Canbet is truly in a class of its own and may just be the model of what an Internet sportsbook should be.
See Canbet Website
Back to Online Gaming | More J. Philip Vogel Columns | Mail this Article to a Friend