5 Myths About Online Gambling
When enjoyed responsibly and within limits, online gambling becomes an entertaining leisure activity. There’s also a chance to turn it into a lucrative activity with the right set of strategies and plans in place. These are reasons why many players are into online gambling and operators are enjoying record popularity. Like other popular activities, myths also surround the industry. Let’s look at some of these myths that surround the industry.
Myth #1: Online Gaming is Illegal
It’s the most popular myth surrounding online gaming. Some people believe that online gambling is illegal, as such, many players avoid casinos at all costs. Online gambling, like playing in physical casinos is heavily regulated. In many countries, there are regulations in place that cover casino games both online and offline. Since they are regulated, it means that wagering on casino games is perfectly legal as long as these are within the bounds of the law. It’s entirely legal for players to sign up and wager real money bets in many countries. The challenge lies in knowing what websites are licensed and regulated. Yes, certain countries ban all forms of online gambling, but these exceptions are in the minority.
Myth #2: One Game is Enough to Get you Addicted
There’s no specific study that links a single game to player addiction. There are anecdotal pieces of evidence and news stories about players who become addicted to online gambling. But most of these are not linked to just one game. Also, these players often ignore place limits, or they fail to use the casino’s Responsible Gambling tools.
Myth #3: Players Go Bankrupt Once They Start Gambling
Some people see gambling as a sure way to go bankrupt. Yes, some players have gone this route, but it’s not the rule. Online casinos are heavily regulated and as part of the regulation, the casinos use a Random Number Generator (RNG) software that ensures the transparency and fairness of every game. With this technology, there’s always the chance of collecting payouts on your next game. And if the player just uses the right set of strategies, then there’s a big chance that the game’s jackpot is hit. As you can see, it’s almost impossible for all players who start gambling to go broke instantly.
Myth #4: Online Gambling is Just a Front for Money Laundering
Again, there’s no solid evidence that links online casinos to money laundering. Casino operators understand the risks and the need to comply with regulations. As such, it’s now mandatory for licensed casinos to implement the ‘Know Your Customer’ or the KYC policy. Under the policy, casinos check the players’ background before signup or before a withdrawal. For example, players must be 18 years of age and must upload documents to verify the account. Also, some casinos may require documents from players to justify the wealth or source of income. So, if you sign up with licensed casinos, then you can be sure that the platform is not used for money laundering.
Myth #5: Casino Games are Rigged
A common myth that’s circulating online and in forums is that the casino games are rigged in favor of the house. According to many stories and anecdotal records, casinos rig and manipulate their games so they can collect the players’ money. Here’s the real score about online casino games and gambling in general: the house retains an advantage. We call this the ‘house edge’ as a way for the operators to sustain their operations and continue providing casino services.
To say that casino games are rigged is not correct and it’s especially unfair to many licensed casinos that comply with the industry’s best practices. The leading names in the business like 22Bet Casino rely on an independently audited RNG to ensure the fairness and transparency of all its games. Also, these top casinos work with reputable software vendors which means that the games are fair and produce random results as part of their grand design.
Conclusion
As the popularity of online casinos continues to rise, the misconceptions and other myths grow as well. Its development is understandable since online gambling is a fast-growing and highly competitive business. As a player, you will read many things about online gambling and many of these will put online gambling in a negative light. Yes, online gambling has risks, and you can lose your money. But with due diligence, research, and the selection of the best online casinos, you can always stay safe. Players are more knowledgeable now, and there are tools and resources available online that you can use.