Despite the multitude of well-researched and accurate resources (like this one!) available out in the world, there continue to be myths and half-truths about online gambling still in circulation. We reckon this mostly comes from people who don’t take the time to do their research and simply believe what others say without checking it. It is also true that real, true information is constantly competing with conflicting information for our attention.
With that in mind, the CasinoTop team has decided to tackle some of the most common misconceptions about online gambling and provide the truth on each.
Experienced gamblers will tell you that when you play, you will lose more than you win. That’s just a fact. But newbies tend to claim that their losing streaks are down to unfair games rather than the laws of probability.
Every game that is hosted by a licensed casino has to be proven fair through an independent audit. Such audits put the software through a battery of tests to make sure that it behaves completely randomly and thus, totally fair.
Regulators take player protection very seriously and that includes protecting players’ money. Every reputable regulatory body obliges the operator to keep player funds separate from business funds and this is part of the conditions of licensing. If an operator is caught using player funds in some way, such as paying overheads or employee wages, that operator is going to face drastic measures from the licensing authority.
Reputable casinos simply do not want to take that risk and so keep player funds in a separate bank account. That way, should the business go bankrupt, players can still withdraw their balance.
Anyone who has had to go through a verification process at an online casino can tell you this one is completely untrue. Casinos must perform what are called KYC - Know Your Customer - checks and that’s why they ask players to provide proof of their identity and their address.
This helps to keep minors out of the online casino and lets the operator check that players are who they say they are, which is particularly important in their anti-money laundering and fraud prevention strategy.
It is true that casinos impose withdrawal limits. These are in place to prevent crimes like money laundering and some players can find them tedious, especially if they have won a significant amount of money and cannot withdraw it all in one go.
However, reputable licensed casinos will always pay out a player’s winnings and will do so using safe, secure payment methods. If a player is unsatisfied with how their withdrawal has been handled (or not handled, as the case may be) they are free to seek recourse through the regulator in charge of that casino.
A lot of time, energy and resources have gone into making this statement untrue. Regulators are constantly raising the bar in terms of player protection, responsible gambling resources and tools to protect players from addictive behaviour at online casinos.
Licensed casinos must offer players the option to self-exclude from online gambling, the opportunity to set daily, weekly or monthly gambling limits and easy access to any available resources and support that they might need to control their gambling activities. It is true that these methods are not completely fool-proof and people have slipped through the cracks on a number of occasions but it’s not for lack of trying from regulators and operators alike.
This statement is disingenuous because it depends entirely where the player in question is based. Gambling legislation differs between countries and sometimes even between regions, provinces or states. Some places ban the practice entirely, others have legislation that doesn’t quite cover online gambling per se, leading to a kind of grey area. Other places legalise and closely regulate online gambling. It is up to each player to inform themselves about their country or area’s gambling laws.
There is a lot of misinformation about online gambling out there but that shouldn’t stop responsible players from being able to enjoy this form of entertainment with confidence. Look for sites such as CasinoTop, where you are guaranteed to find information that is accurate, up to date and unbiased.