Common Myths About Online Casinos
There are so many different gambling platforms like Vegas Casino on the web. So, It is common for people to make myths about them without sorting things out. The sad reality is that users would rather choose to believe in the mystical than the statistical. What are these myths, and why don’t they make sense at all?
The Casinos Are Cheating
The biggest myth of all is that casino games are rigged. No, this is not true. Casino titles are fair, and they all use a random number generator. So, why do most people lose? The games, by design, do not give the player a big chance of winning. This thing is what we call the house edge.
Think of it this way: if you played one-on-one against Lebron James and lost, would you accuse him of cheating? You won’t do that, knowing that LeBron is a formidable player. The same thing goes for casinos. By design, your odds of winning are not huge.
Take roulette, for example. If the wheel has 38 holes, the ball will land only on one. As such, the winning odds for a straight bet is merely 2.6%. The games are not rigged — because of probability theory, you are not likely to win.
It is not true that computer programs deliberately choose a result that makes the online casino win. Most casino games are a game of chance, and the chance of winning a round is slim, let alone winning the jackpot round.
Winners Do Not Get Paid
This myth keeps on making the rounds of gambling circles and groups on social media. Many players complain that they did not get paid. The truth is that online casinos pay a lot of money. By far, one of the biggest payouts amounted to $23.6 million. The game is a slot machine called Alice in Wonderland.
Most of the gamblers who complain are likely to be violators of casino policies. For instance, they used their bonus money to bet and win. However, they violated the terms & conditions. As such, the casino would refuse payment.
Keep in mind that casinos are legit businesses. They submit income requirements to the government. In addition, they have licenses that can get revoked. If they really are not paying up, then how come they are still operational?
Bonuses Are a Scam
Some people claim that a casino bonus is a scam. No, it is not true — online casinos can give players more money as an encouragement. The only thing you need to know is the terms and conditions of this bonus.
Here are some of the most common bonuses:
- Welcome bonus
- Cashback bonus
- Free spins
- Loyalty bonuses
Online casinos provide different cash values or amounts. However, there is a common rule in these bonuses called the wagering requirement. Most people do not read the terms and conditions; then they accuse the gaming platform that the bonus being a scam.
A wagering requirement is a number that represents the value you must wager before you can withdraw your winnings. For example, if the bonus you received is $100 and the wagering requirement is 35X, you must wager $3,500 before you can withdraw the winnings from the bonus.
Then, there are also other rules, such as you can only use the bonus on specific games. Sometimes, there are also limits where you can only bet a maximum of $5 per round. If you exceed that, the casino will forfeit your bonus.
Online Casinos Are Illegal Businesses
No, online casinos are not illicit organizations. They are legitimate operators. Sure, there are some fly-by-night operators. However, many casinos are legit. How will you know? If you go to a casino website, scroll to the bottom of the page, and you will find a section where you can read the license number and who issued it. Next, you can cross-check or validate that information by going to the casino association.
For instance, if the gambling platform got its license from the UK Gambling Commission, you can visit the UKGC’s website and check if it is legit. Online casinos generate huge revenues, which in turn trickles down to taxes. Many governments today are making a move to legitimize the casino industry, knowing that it is a good source of income.
The gambling industry is rife with beliefs. People seem to attribute their successes and failures to something divine. The thing is that the results of casino games are nothing more than a game of chance. The one thing that makes a difference is poker, where you play against others and win with your skill.
Before you play with real cash, it is suggested that you try the demo mode first. Many gaming websites offer demo versions of their games. Read the instructions and understand the logic behind them. Only then you will be able to explain the probability of winning.
