There’s a lot to learn when you start gambling. With so much gambling information on the web and so many rules, tips and opinions being offered, it can be difficult to parse out what to incorporate and what to ignore.
Unfortunately, we can’t decide that for you. What we can tell you is that there are a few things specific to online casinos that are often explained either only in fine print or not at all. Among these are casino payment and bonus terms and conditions, average casino payout rates, and the possibility of cheating.
As far as gambling basics go, these are some of the most important. Knowing a little about them will allow you to play a more relaxed game with more confidence.
Casino Payment Terms & Conditions
There are many things to consider when looking at casino payment and bonus terms and conditions. Three of them are crucial:
- Typically, players must wager 20-30 times their initial deposit before they can cash out. If you’ve received a bonus, this Translation: if you deposit $100, be ready to wager at least $2,000 before you get anything back. If you receive a bonus, the wagering requirement can jump to as much as 35 times your initial deposit.
- Wagers made on some game types will not be applied to the fulfillment of the wagering requirements. Translation: You may have played $2,000 in Progressive Slots, but if wagers on Progressives don’t count towards meeting your wagering requirement, you’ve got another $2,000 to get before cashing out.
- If you decide to withdraw before satisfying the minimum requirements, your bonuses AND winnings will be void.
Average Casino Payout Rate
- Payout rates are a ratio, expressed as a percentage, which measures winnings against wagers. The industry average is about 95%.
- Look for a third party endorsement on the online casino home page to verify its average payout rate. Examples include eCogra and TST.
Cheating scams in online casinos are actually less frequent than those in live casinos. While 2007’s Absolute Poker scandal attracted a lot of media attention, it’s Vegas and Monte Carlo that still attract the biggest scam artists. Despite this, many prospective online gamblers refrain from placing web wagers because of the old “I don’t believe in what I can’t see” adage. Understandable, sure; but here’s how to get over that fear.
Play on sites whose software is reputable. Playtech, Microgaming and CryptoLogic Inc. are among the best. They employ random number generators (RNGs) that ensure numbers, dice and cards are dispensed arbitrarily.
Read casino reviews and pay close attention to payout details. Among cheating scams, the biggest don’t involve card counting or “fixing” a roulette wheel; rather, they involve rogue casinos either delaying payment to players in hopes they will play more while waiting, or retroactively placing new conditions on withdrawals.