Sportsbook Offers Instant Payment via Debit Card

Oct 27, 2010, 08:00 ET from Northbet

TORONTO, Oct. 27 /PRNewswire/ - Las Vegas-style single-game sports betting is here in North America, and possibly growing soon.

Governments long ago became the biggest bookmakers, making gambling part of society with lotteries, horse betting, and land-based casinos. The U.S.A. is essentially dead broke as billions of dollars in potential tax revenue depart the country en route to offshore sportsbook operations. There's a growing movement in the U.S. to legalize and tax Internet gambling. States, including Delaware, Pennsylvania and New Jersey have made gestures individually about legalizing sports betting. Sooner or later, it will happen. But when it does, how far behind the competition will the Government operated sportsbooks be?

With sports betting long been legalized in the UK - governments in Canada already taking bets online and expanding their action soon - some US states are lobbying for a piece of the action. Meanwhile, offshore sportsbooks are searching for new ways to stay ahead of the game.

One of the newest entries in the online betting space, Northbet.com, has introduced 'instant payouts' via your very own debit card.

While the norm for payouts from an offshore sportsbook has traditionally been lengthy, Northbet's expectations are their new service will change all that. Northbet.com is gambling on sports bettors having fast access to their money. With instant gratification becoming more and more of a trademark in our modern day society, the gamble might pay off.

So as the fast-paced modern day world makes the designation of  immediacy more important than ever - the idea that losses are counted in seconds, but winnings take forever to collect - is changing for today's player. Northbet.com is one sports book that is hoping their new concept will gain enough market share before big brother gets in on the action.

The entire motive for the site's existence is based on the idea of providing players with their cash -  fast. The site emerged earlier this year, with the goal of satisfying the sports betting public with an option that provides a same-day payment policy, ensuring that its customers get paid on the same day they make a withdrawal request. They upped that ante recently by providing a 'debit card' option that allows for payouts in as little as 120 minutes.

As internet bookmakers, continue to improve and provide an impressive array of features to their customers, it can only be a matter of time before Governments seek their take of the billions of dollars in action on sports worldwide. Betting estimates of 300 billion dollars a year from Internet sports bets seem high. But they will be low soon, given how the business of Internet gambling is expanding.

You can't get a hotel room in Vegas on Super Bowl weekend, or during much of March Madness but with Northbet's new debit card there's less reason for the serious sports bettor to be there. The money is one easy transaction away and it would simply take a trip to the bank to get it.

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SOURCE Northbet