Top 7 myths about online casinos and sports betting

Casino gambling dealer

What if what we know about virtual gambling is a misconception? To play or not to play – everyone decides for himself. But in order to make the right decision, it is advisable to know everything in detail. We understand the topic and tell you what you should not believe.

Myth No. 1. Casinos and bookmakers are an illegal business

We will not dwell on the hundreds of documents that need to be prepared in order to open a virtual gambling establishment. Here are a couple of facts. Gambling is a licensed type of activity, which means that in order to legally conduct it, you must obtain a license. And one more important thing: an online casino must have an irreducible deposit in order to ensure payments in case of large winnings.

Myth No. 2. It is impossible to win in an online casino, and it is unrealistic to beat a bookmaker

Let’s turn to statistics. According to the Guinness Book of World Records, the biggest jackpot in an online casino, namely 17.9 million euros, was hit by John Heywood on October 6, 2015. The Mega Moolah game brought good luck.

Myth #3. You need a lot of money to play at an online casino or bet on sports

Some providers and developers for online casinos, for example, Roll XO casino, offer games in which you can bet literally for pennies.

Myth No. 4. You can predict when you will win

This is what the regulars of land-based casinos like to say, especially with regard to slot machines. Moreover, some claim that this can be determined by how hot the device is, while others say that the quick win is guessed by the smell: the machine, which is about to bring good luck, smells differently. We have not conducted experiments in land-based casinos, but with regard to the online industry, the answer is unequivocal – it is impossible to predict what a slot (slot machine) will give out. The same situation applies to sports betting. Hundreds and thousands of factors, ranging from the weather to the family circumstances of athletes, affect the outcome of a sporting event. Is it possible to beat probability theory?

Myth No. 5. You have to wait a long time to collect your winnings

Through a number of payment systems, you can withdraw your honestly won money instantly, and immediately after deducting taxes. Of course, if there are no technical failures or any other force majeure on the side of the banks. For their part, bookmakers, on the contrary, are interested in the smooth operation of the system. Of course, this is primarily a matter of their reputation.

Myth No. 6. It is impossible to stop someone who has played too much

May. And even necessary. Everyone, of course, remembers that the possibility of making a profit is inextricably linked with the risk of losses, but not everyone is ready to realize this. First, the player, knowing his abilities, can limit himself. Secondly, a player may be restricted by a court decision on the appeals of relatives if he puts himself or his family in a difficult financial situation. By the way, all reliable casinos actively support the policy of responsible gaming, and even provide their customers with the opportunity to set limits on the amount and time spent in the game.

Myth No. 7. Bookmakers are the culprits of match-fixing

The bookmaker’s earnings are the margin that is embedded in the coefficient. If the probability of an event is 50%, in this case the bookmaker calculates the winning bet not as 1 to 2, but as 1 to 1.9, which allows him to earn on a margin of 5%. All match-fixing violates this balance, which becomes unprofitable for both bookmakers and honest players. Bookmakers like to joke that for them the most positive outcome of a sporting event is a score of 0:0 or a draw, because usually players bet on such a result less often, which means that bookmakers earn the most from them.

To play or not to play? This is the decision that everyone has to make for himself. But at least 7 misconceptions can be considered worked out.