5 Things you Should Know about Online Casinos
Online gambling and casinos are not as easy as it seems. Though they are fun, it requires some time and effort to understand the nitty-gritties so that you, as a player, are aware of the loopholes, the danger points, and the means with which you can stay safe as well as increase your scope to win legitimately.
It also helps when some online casinos offer a streamlined user interface that directs newbies to different games and spells out all the regulations to ensure transparency among players.
So, here are 5 key things you should know about online gambling and casinos:
1. The Legality of Online Gambling
Let me first start with the rules and regulations.
Though online gambling has now appealed to Indian audience, and is now in the grey zone in the country, there are many countries in the world that still abdicate the practice of gambling, whether in person or virtual.
Considering a country like India, it’s vital to play in an online casino that’s licensed by authorities like the Malta Gaming Authority. This means all transactions, the outcomes of the games and your personal information is governed by a third party which makes sure its security is of the highest standard.
2. Fast & Reliable Payment Options
This is a digital era, when you get to enjoy your favourite slot games or any other casino games anywhere and anytime!
Having said that, the versatility of the withdrawal/deposit options available in any online casinos enables you to not only make transactions with ease but also keeps them quick and convenient.
While there are multiple online payment options you can go with while playing at an online casino, these are the most crucial things to consider:
- Types of payments: A good online casino should offer diverse options to process payments. This means that it should have the facility of net banking, e-wallets (Skrill and Neteller), and Visa/MasterCard.
- Safety & Security: Look for legit online casinos that not only provide safe payment methods but also transact your winnings fast. Check their SSL encryption technology to learn how secure their payment options are and are they good enough to keep your personal details safe online.
- Withdrawal time: The withdrawal time depends on the type of payment option you prefer to go with. With e-wallets, the processing time is instant. However, if you’re using Visa/MasterCard, it might take 24 hours (but depends on your bank). The same applies for net banking. They are usually processed within 1-2 days.
3. The Power of House Edge
Whether it is an online casino in India or a casino that targets players in any other country, know that they are “for-profit” organisations, and thus, they have a business mindset to the casino games.
Though you aren’t supposed to pay up for simply joining the casino, you’re mandated to pay for the casino games you choose to play. This process of free house entry but charged games is known as the House Edge, and this is where they get their business from.
You can either win or lose at these house edge backed games for some amount of time. However, if it goes on for long, there is almost a 100% chance that the house will win, and thus, reaping in the profits.
If you’ve been a short-term winner, congratulations! The house is all too happy for, unless you aren’t winning in the long-term. Thus, ensure you know the casino games in & out and adhere to responsible gambling before you put your money on them.
4. Online Casinos aren’t Rigged
Stop listening to those who haven’t played on any online gambling platforms, and dispensing their assumed knowledge. Unlike the popular (without any data-backed) opinion, live casinos in India aren’t rigged.
Why? Because sooner or later, this discrepancy will come out in the open and once it does, the status of the casino will plunge down, never to rise up again.
On the other hand, online slot games work on a Random Number Generator (RNG), which comprises an algorithm that houses millions of permutations of the combination that may come up at ANY spin.
Granted that these algorithms make it difficult for you to win but there’s no question of “illegal” means being deployed here.
5. Rely on the Strategy
Many casino games can be tweaked with the help of strategy where you can change the house edge to make it easier on your wallet.
Some of the best options are blackjack and poker where if you place your strategies right, they can be played at half the percentage of the mentioned house edge. However, it isn’t the same with craps and baccarat. But there are ways around it.
Gambling addiction is something you should know about online casinos. According to a study conducted by Gamblers Anonymous, almost 26% of players have been divorced or separated because they spent too much time and money on gambling. Therefore, responsible gambling, offered by many legit casinos can help you avoid this situation.
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