And Betting is no longer just a casino bookmaker established in Las Vegas. Online sports betting is now legal in 29 states and Washington, D.C., and professionals and casual bettors alike can access their smartphones, download an app, and dream of winning a parlay. The American Gaming Association predicts that 11% of adults will place bets online this year.
Our Help Desk is here to help you make sense of technology in your life. If you’re planning on betting on the Super Bowl, you need to know how to keep your data and bank account safe. So, let’s take a look at what you need to know about online sports gambling. And don’t forget to keep your budget in mind.
How do sports betting apps work?
Simple. Instead of going to the casino and placing bets directly, you deposit money into your app account via your bank account or another payment method. From there, it’s up to the world to decide how much to bet and which bets to make.
However, there are some caveats. The apps you select will verify your age when you set up your account. In most states, he must be at least 21 years old to participate in legal sports gambling.
A quick search for “online sports betting” on the internet will bring up a plethora of websites. The same goes for searching in the Apple App Store or Google Play Store.
Some well-known names, especially those that appear as advertisements during games, include DraftKings, FanDuel, and BetMGM. Other sites include Caesars, PointsBet, and BetRivers.
What are the biggest risks?
Gregory Moody, an information systems professor at the University of Nevada, Las Vegas, said these apps may be considered more valuable targets for hackers because of their rich data sets linked to bank accounts.
When using sites like DraftKing, FanDuel, and others, it’s important to keep digital hygiene in mind.
Tips to keep your bets safe
Use reputable apps: If you’re new to online sports betting, searching Google Play or the Apple App Store for reliable options can be daunting. But there are clear signs that one app is better than another.
First, check if your app has a large number of users and reviews. Next, if these numbers seem reasonable and the reviews are not automated or seem fake, do a quick search for user issues on Reddit, Trustpilot, and BBB.
Set up two-factor authentication. Once you’ve selected a sportsbook, set up two-factor authentication if necessary. In addition to setting a strong password, 2FA allows you to use another method to verify your identity when logging in from a new device, such as a text message to your phone.
Sportsbooks offer this extra layer of protection, but it’s up to you to turn it on. To do this, go to your preferred app’s account settings and look for security settings.
If you want to protect your privacy, scroll down to the data sharing section of your settings and look for “Do not sell or share my personal information” or a variation of that phrase. However, you may have to look hard to find it. You can also look for privacy opt-out forms on sportsbook websites using your desktop computer or laptop. Finally, use the alias email address provided by Apple or Gmail when you sign up.
Do not link bank accounts: It seems counterintuitive for a gambling website, but you’ll want to avoid linking your bank account directly.
Moody recommends placing bets using third-party payment apps, such as Apple Pay, Google Pay, Venmo, and PayPal, if the app allows it.
” [3rd party’s] Specializes in payment transaction processing. They have entire cyber teams set up to detect and stop this kind of thing,” Moody said. And, he added, their goal is to not get hacked or people will stop using the service.
If you need to link your bank account, make sure your account has a strong password and multi-factor authentication associated with it. Monitor your banking activity and look for suspicious activity.
You also need to know who to contact if your winnings get stuck on Ethernet. Before placing your bet, be sure to check the sportsbook’s helpline and withdrawal policy regarding winnings and refunds. Please double check how bonus bets and associated winnings are handled. Bonus offers cannot be withdrawn immediately for cash equivalents.
For example, DraftKings does not allow users to withdraw their winnings to another payment type. Winnings will be deposited using the same method used for the original bet.
Don’t forget your tax documents.
According to IRS Publication 525, big wins from sports betting are considered taxable income.
If your winnings meet the criteria, you may be asked to generate a Form W-2G at your chosen sportsbook.
Even if a W-2G or other form is not issued, winnings are taxable income and must be reported to the IRS, said Eric Bronnekant, head of tax at digital investment advisory firm Betterment.
You’ll report the money you earned when you file your 2025 income tax return, which covers the 2024 tax year. Taxed at ordinary income tax rates.
Heather Kelly contributed to this report.
