Bets Abroad – What You Need to Know

When we visit different countries, we also look for our favorite form of entertainment and relaxation. Some love to spend the day sunbathing on the beach.  For others, a holiday is not a holiday unless they can eat and drink their weight in local restaurants. There are also those that like to party all night long at exotic locations. However, we like to bet. Make sure to follow a few pieces of advice when betting abroad.

The Laws

Different countries have different laws and regulations, so it is important to read up on those before investing your time and money into something that could prove to be more trouble than it’s worth. In some countries, online gambling is fine, while in others, you could get a fine.

It’s not just whether you are allowed to bet on something or not – the laws also spell out some key details, like how much money can be placed in a bet, what documents are required, and last, but most important, what limitations there are for foreigners. It may not be a problem for a local to walk away with several thousand dollars, but a guest from a different country (we mean you) might be limited with a smaller amount.

Taxation is also something that can’t be overlooked. Many people turn to online gambling simply because it is the most profitable and the least troublesome when it comes to taxes. Don’t bet until you know that you get to keep your winnings.

Exchange rate

Any traveler will tell you that the exchange rate is something that can be quite diverse, depending on where you change your money into the local currency, what the amount of money is, and whether you hail from distant lands (as you do). Steer clear from tourist hotspots, and check online for the best rate that you can get. If you don’t trust the exchange offices at all, try the banks. They offer a significantly inferior rate to some exchange offices, but will probably be more forthcoming with the regulation and receipts.

Code of Conduct

Betting houses are a subculture in their own right. Combine that with going to a foreign country, and you’ve got yourself a terrain that is unknown at best. Do your research beforehand on betting houses and their rules when it comes to attire, tipping and proper bet placement. That way, you will not offend anyone, or lose your money.

Language Barrier

While this is a given, it is often overlooked – do not bet in a country where you don’t speak the language. You even might manage to place a bet – everyone loves a new player at the table, since it is a great way of earning more money. However, the amount you bet could vary based on your understanding of the language, and the clerk’s understanding of your desires. What we’re trying to say is – avoid the unnecessary misunderstandings and place a bet when you have at least acquired the conversational level of the local language.