What is ‘Advance-Deposit Wagering’?
Advance-deposit wagering (ADW) is a term related to funding bets before play. In essence, it means that in order to place a bet you have to have funded your account before you are able to gamble. ADW is usually managed online or by phone and tends to involve bets placed on horses or greyhounds, but also applies to casinos.
‘Advance-Deposit Wagering’ Explained
To participate in advance-deposit wagering, you need to ensure you have a funded account prior to placing the wager you want to place. Once the funds have been deposited, you can bet on horses, greyhounds and even on pari-mutuel pools.
Before getting involved in ADW, you should check that it is legal for you to do so. In some states in America advance-deposit wagering is illegal so be sure that you are in a state where legality is not an issue before betting.
In certain states horse trainers, racecourse owners and even governments receive a percentage of the revenues made through advance-deposit wagering. This happens in New York and Nevada and provides a large source of income for those who benefit from it. The state of Illinois made ADW legal in 1999 and is one which receives part of the revenue.
This has led to some other states legalizing the wagering. At the beginning of 2010, there were 20 states in which ADW was legal with Louisiana and Washington among them, along with the likes of Pennsylvania, Kentucky and Nevada.
There are some major companies that offer ADW betting exchanges. These include TVG Network, Xpressbet.com and KennelandSelect.com.
As well as advance-deposit wagering there is an ulterior option which means you can bet without advance funding. This is done in credit shops that allow this form of gambling. Accounts using this type of action are usually settled at the end of a month.