Online casinos have become mainstream. Gambling websites are now more popular than ever, and from the looks of things, they will only get more popular as time goes. Regardless, online gambling is a relatively new phenomenon, especially when compared to its land-based predecessor.
The fact that it is new and unexplored has many people wondering about the industry. What is worse, it has many people giving power to myths and outright falsities told about online gambling. That is why, in this article, we’d like to set the record straight. Let us take a look at some commonly-held beliefs about online gambling, and see whether they are true.
Truth: Online Casinos Accept Cryptocurrency
In 2009, the mysterious Satoshi Nakamoto completely changed the world of finance, when he released the first crypto. Bitcoin has since grown rather drastically, becoming a multi-thousand-dollar investment. Businesses all over the world are looking into expanding into the crypto market. Even criminals are doing what they can to get a slice of the pie.
However, one of the first industries to embrace the crypto market was the iGaming industry. Online casinos have been accepting Bitcoin, Ethereum, and Tether for a long time now. It is just part of the reason that crypto-fans are much more likely to gamble online, then in person.
Nowadays, crypto gambling is so popular that there are crypto casinos and websites dedicated entirely to betting and gambling using cryptocurrency. Even standard internet gambling sites embrace a variety of cryptocurrencies, from Bitcoin, Ether, and Tether to Litecoin, Bitcoin Cash, and Ripple.
Myth: All Online Casinos Are Unsafe
We firmly believe that this myth is derived from the largely true statement we explored previously. A lot of people are under the misconception that all online casinos are unsafe, just because the unlicensed ones are. That could not be further from the truth.
Indeed, top-tier, licensed, and regulated online casinos take every precaution to ensure a safe and fair gaming environment. If they didn’t, they wouldn’t pass the review by some of the top-tier licensing organs in the world. What is true, though, is that not all licenses are equivalent.
But, if your casino has the Ontario license or a license from one of the many European Union member states, then it is likely very safe and quite reliable. You can and should expect fair odds and detailed security measures.
Truth: Unlicensed Casinos Are Unsafe
Off the bat, we are starting off on a truth. A lot of people believe that unlicensed casinos are harmful and may even be scams, and indeed, that is true. If you are new to online gambling, you are going to want to explore licensed, highly-rated, and regulated online casinos, no matter where you are playing from.
In Canada, for example, online casinos are legal nation-wide. However, residents can only play at licensed offshore gambling websites. The only exception being Ontario players. There are some excellent rated casino sites for players in Ontario, as the province has recently legalized all forms of online gambling, and even issues its own licenses.
Myth: You Can’t Win Real Money Online
This myth largely stems from misunderstanding certain laws, or simply misunderstanding the online gambling industry as a whole. There are a lot of people who believe that it is impossible to win real money online, because of legal restrictions. However, that is not the case, and there have, in fact, been quite a few gamblers who’ve won incredible sums online.
Some believe that most online casino games are rigged. That is also untrue. The most popular online casino games are slots, and much like their land-based predecessors, online slots are entirely random. They function using a random number generator, meaning that every spin will result in a unique and randomized outcome.
Truth: Online Gambling is Legal in Canada, but…
There is a large majority of people who believe that online gambling is legal in Canada. Indeed, residents of the Great White North are free to gamble online. However, the Canadian government, for the most part, has banned an online casino operating within the nation’s borders. What does that mean?
Well, it simply means that Canadians, for the most part, have to play at offshore casinos. But, there is an exception to this rule. As we mentioned earlier, Ontario has legalized online gambling within the province and even issues licenses to local online casinos. So, while most of Canada has not jumped on the bandwagon, Ontario’s residents can gamble both locally and internationally.
Myth: Online Casinos Enable Compulsive Gamblers
Out of all of the myths that exist surrounding iGaming, this is the one that is most inaccurate. There is simply no reason to believe that online casinos enable compulsive gambling. All of that data shows that more players fall prone to problem gambling in land-based casinos than they do gambling online.
Not only that, but internet casinos take a lot more steps in mitigating problem gambling than most brick-and-mortar establishments do. For example, gambling websites track player activity. If they notice something is off, or a gambler is spending too much, they contact them, and even cut them off by temporarily suspending their account.
A lot of online casinos also participate in self-exclusionary campaigns. In other words, a player can step into contact with an online casino and ask that their account be suspended for a certain amount of time. At which point, the casino will disable said account, and block the user’s IP until the allotted time has passed. So, you see, in many ways, online casinos are safer than their land-based counterparts, at least as far as compulsive gambling is concerned.
Things to Think About
Online casinos are here to stay. The industry has grown to generate billions of dollars annually, and many experts believe that it will overtake its land-based predecessor. If that is the case, then we have to get used to the idea of online gambling, and in order to do that, we must do away with any falsities, misconceptions, myths, or outright lies told about online casinos.
Ann is a beacon of inspiration and knowledge in the health blogging community, known for her holistic approach to wellness that combines mindful nutrition, balanced fitness routines, and mental health awareness. With a passion for empowering her readers to achieve their healthiest selves, Ann shares practical advice, easy-to-follow recipes, and personal anecdotes that make navigating the journey to wellness accessible and enjoyable.