With the volume of $47 billion in 2017, the online gambling market has seen some spectacular growth in recent years and the trend is likely to continue. The internet has offered many new possibilities for online gambling, with millions of people joining the online gambling world every year.
However, online gambling can be a bit confusing and daunting for beginners with no previous knowledge of the industry.
To understand how it works we recommend you take some time to read the top five facts about online gambling you should know.
Online Casinos Are Like Real Casinos
Just because you’re playing online and have no real contact with money or slot machines, for example, doesn’t mean that online casinos are any different from the real ones. All online gambling sites are business and their aim is to make money.
Online betting functions the same way, and no matter how confident you may seem, the odds are stacked against you. In the end, you may easily have some fun with online gambling, but be prepared to lose money.
There Are Countries Where It Isn’t Legal
Some countries have banned online gambling, while its status remains unclear in many others, such as the United States, for example.
In some U.S. states, online casino gambling is legal and subject to regulations, but in general, it’s illegal for non-U.S. companies to provide gambling services to U.S. citizens.
Online gambling is prohibited in Germany and Russia, while it is fully legal in the United Kingdom.
You Can Bet Your Bitcoins on Casino Games
The ever-increasing popularity of bitcoin has prompted many casinos worldwide to introduce bitcoin casinos, letting you use cryptocurrency for transactions.
There is an increasing number of online casinos that offer Bitcoin as a currency option, and there are even some that use exclusively bitcoins for all transactions.
You can also bet your bitcoins on sports betting and online lottery with one major advantage that bitcoin transactions offer: anonymity. Another significant advantage of bitcoins casinos is that there are no transaction fees involved and no limitations on the number of transactions per day.
Online Casino Bonuses Can Be Deceptive
The majority of online casino sites offer new players attractive bonuses just for signing up on their site. It can be quite a temptation for players eager to earn some money quickly, but the reality is a bit more complicated.
What you should know is that you will usually be required to deposit a certain amount of money and then get a bonus on it.
Whatever you do, keep in mind that online casinos want to make a profit for themselves and know how to deal with players who want to take advantage of the system.
It Can Be Hard to Make Profit
As mentioned in the previous paragraph, most online gambling sites will try to maximize their profits by making it hard for players to win. This doesn’t mean that online casino games are rigged, but the chances are usually against you.
The situation with online sports betting is largely similar, as most online betting sites require players to make a wager higher than the amount they win, which means that your overall losses will be larger than your winnings.