Pros and Cons of Online Gambling. Online gambling is relatively a new phenomenon and a very popular activity - and this is more than a reason that every other day a new online gambling website is launched to attract potential customers.

1. Pros And Cons Online School
2. Pros And Cons

Online Casino Guide

Everything you need to get started in online gambling.

Online Poker Guide

Everything you need to get started in online gambling.

Online Sport Betting

Everything you need to get started in online gambling.

Introduction

If you have never gambled online you are probably bewildered by how to get started. Online gambling is still a relatively young industry and as such there are still many less than reputable casinos. The good and the bad are still fiercely elbowing each other for market share. So choose where to play carefully. I have some tips below which may help you.

You are probably also wondering if the games are fixed. At one point I said emphatically not. On average the casinos keep about 75% of money deposited so they shouldn't need to cheat. However I have heard complaint after complaint of extremely bad luck from playing at some non-licensed casinos that use no-name web software. I do believe that the vast majority of online casinos play fair but am suspicious of a small minority. As you hop from one web site to another of the online casinos it may seem arbitrary about choosing one to play at. Let me help by saying that quality counts. Take a close look at their web site or the free games. If they seem like a professional organization chances are better that they are. Finally trust your gut. If you get a bad feeling about a place then resist playing there, even if you can't explain to yourself the exact reason.

The Basics of Playing

There are two ways you can go in terms of actually gambling online, web-based instant play platforms and downloadable software. Web based platforms offer almost immediate playing and a nearly identical experience to the downloadable software. In the past downloadable software was the best, but now I prefer to play through instant play platforms. Playing at an online casino begins with you registering an account on the website of the spot you want to play at. This is sometimes done on the casino web site and sometimes through the software. Then you must put some into your account. The vast majority of the time this is done with a credit (or debit) card. Other options include Western Union, Bitcoin, and bank wires, although some sites carry substantial fees for using these services. Beware that some credit cards will treat deposits to an online casino as a cash advance. If this happens then you may have success in arguing the charge but many credit cards have a flat policy that a purchase of casino chips counts as a cash advance. I recommend using debit cards instead, as there is never a cash advance fee and the transactions are posted faster.

Once you have money in your account you may then begin to play. Be sure to check the rules first, many online casinos favor European rules which can be different than U.S. rules. This can be good or bad depending on the particular rule. As you play I would suggest documenting everything you do. Personally I use graph paper to keep a running track of my bankroll and the total amount bet.

If you plan to return in the near future do not cash out, just leave your money in your account. When you do cash out the chips will be converted to cash and credited back to your credit card, up to the amount of the initial purchase. If you have a net win then the winnings will have to be sent another way, usually by check. Most places will send winnings for free but others will subtract a finance charge.

The Pros and Cons of Online Casino Gambling

There can be no debate that online gambling is a lot different than gambling in a physical casino. In some ways it is better and in some ways it is worse. Below are my pros and cons of online gambling, based on my personal experiences, compared to gambling in a 'real' casino.

The Pros

Pros And Cons Online School

1. Online gambling is a competitive business and many casinos will offer a lot to get and keep your business. Many will offer sign-up bonuses to new customers, adding 10 to 50% of their initial deposit to their bankroll (see below for more on this subject). Some will randomly deposit money in customer accounts and others will give away vacations for specified levels of total money bet.
2. The rules are usually better than in physical casinos.
3. You don't have to travel long distances. The casino is in your own home.
4. You don't have to suffer real casino annoyances, like smokers.
5. You don't have to feel obligated to tip.

The Cons

1. You have to be patient about getting your money after you cash out. In addition to waiting periods on the casino end there are also delays on the credit card end. Things are generally faster than in years past, but American players can still expect to wait up to 5 business days to see withdrawals processed and paid out.
2. Customer service can be spotty depending on where you play. Some places offer great service via live chat, e-mail and a toll-free number. Others take several days to reply to an e-mail, have no known telephone number, and generally seem like they just don't want to be bothered aside from taking your money.
3. If a player uses a site that doesn't have a legitimate gaming license, they have no power in the event of a dispute. This has gotten better over the past five or so years, but there are still sites that operate without a license will take advantage of you if given the chance.
4. If you play at a lot of places your credit/debit card statement will be a nightmare to balance. Transactions seldom indicate the name of the casino you played at but instead specify the merchant bank.

What is Expected of the Player

One of the biggest problems facing the online gambling business is abuse by players. At the annual industry meeting in Montreal there was just as much, if not more, discussion about this issue than the future legality of online gambling. This is a very legitimate concern because there are a lot of people seeking to defraud the industry.

Although online gambling is a very competitive business when it comes to player abuse the industry feels so strongly that the online casinos help to protect each other. Specifically negative databases, or blacklists, of players suspected of fraud or abuse are shared among the online casinos. The typical reasons for being blacklisted are:

1. Disputing charges
2. Threatening to dispute charges
3. Using someone else's credit card
4. Manipulation of gaming software
5. Opening more than one account per household or computer

Of these disputing and threatening to dispute charges are the biggest problem the industry faces. The industry term for this is a charge back. This will get a player blacklisted very quickly. Multiple accounts per household or computer I believe is only frowned on if multiple bonuses are given to the same household or same e-mail address. In addition Julie Sidwell says that at least two negative databases track bonus abusers, or player who only play during bonus promotions.

Once the player is on the blacklist they will likely be unwelcome at every casino that the list is shared with. It is like a bad credit rating or a police record, it follows you wherever you go. Placement on a blacklist is not always justified and once on it there is no authority to appeal to for removal.

Doing business in the unregulated world of the Internet is risky for both player and casino. For this reason there seems to be an unwritten code of honor expected of players. Players do not have the liberty of parsing the rules in a legalistic manner and doing whatever they please that is not listed as prohibited behavior. In the absence of a higher authority to regulate the business, players are held accountable to an implied good faith contract. Remaining above reproach and avoiding any appearance of questionable behavior is important for longevity as a player.

Playing for Bonuses

To attract your business many casinos will add a bonus to your initial deposit, usually 10% but I have seen it go as high as 100%. When you accept a bonus you are usually required to meet a certain level of betting action to cash out the bonus. I have seen the total amount bet required range from three times the deposit (Pinnacle Sportsbook) to 40 times the sum of the deposit plus the bonus (Connecto Casino). Read the rules carefully before you start playing. After opening an account wait at least 15 minutes for any welcome e-mail to come in. Sometimes this e-mail will indicate different rules than what the web site says about earning a bonus. Assume that you have to meet the more stringent of the conditions. Regardless of what the rules are you should more than exceed them. If pressed for specifics I would say play at least 50% more than required but 100% or more is better. Some online casinos claim, and exercise, the right to deny bonuses to customers they feel are in it only for the bonus, as opposed to the enjoyment of the casino. Finally I would be suspicious of casinos that you have never opened an account with who send unsolicited bonus offers.

I have created an automatically updating list of the best bonuses in terms of wagering requirements and other terms for each of the popular casino games.

What are the best online gambling sites?

There are thousands of online casinos to choose from, and to the beginner it may seem confusing telling them apart. Use our 'Recommended' section as a guide on the top rated and trusted brands. Please also consider these important factors:

1. Is there a sign-up bonus? If so how much?
2. How are the rules? This can vary a lot in games like blackjack and video poker.
3. Are there transaction fees? If so how much?
4. Is there a phone number you can call? Is it toll free? If you call, is the line busy?
5. Is the casino licensed?
6. Is there information available about who owns and operates the casino?
7. Who provides the software? Is it a reliable name, or some mystery no-name company?

Do not expect any casino to score an A+ in all these categories. Consider the total package and use your best judgement. A good place to start is to visit read my reviews of casinos with the Wizards Seal.

Is it Illegal to Gamble Online?

Pros And Cons

On October 13th, 2006 the Unlawful Internet Gambling and Enforcement Act was signed into law by George W. Bush as an unrelated add-on to the SAFE Port Act of 2006, and we have followed what has changed since then. Since then many Internet casinos have closed the accounts of American players, as well as Neteller, the main payment processor for U.S. players.

In December 2011 the US Department of Justice issued a legal opinion that the Wire Act of 1961 online applied to sportsbetting, opening the door for legalized online gambling in the United States. Since then, the states of New Jersey, Nevada, and Delaware have legalized online betting in some form, and more states are set to come on board in the future. There has been no movement of federal legalization of the activity, so right now it remains in a legal grey area, although not illegal.

We are keeping an eye on each state in the US regarding the legality of online gambling here.

I Think I'm Being Cheated

Since 1997, the Wizard and his team have been trying to keep the gaming business clean of cheating, both online and in land casinos. Our blacklist lists some of the online operators we've exposed dealing an unfair game. While most accusations we get of foul play look more like bad luck to us, we still are open to looking at credible evidence. If you feel you're the victim of an unfair game, please fill out our complaint form and we'll evaluate your claim.

External Links

A good source for following news regarding Internet gambling in the U.S. is at CasinoListings.com .

Written by: Michael Shackleford

A few years ago, cryptocurrency and Bitcoin, in particular were just vague terms for most people. However, Bitcoin slowly but surely gained popularity and became a widespread form of payment.

The number of online casinos accepting Bitcoin is constantly growing and players are enabled to play more and more games by depositing via Bitcoin.

When you make a deposit, your Bitcoins are converted into a standard currency (USD, for example) and the deposit is processed in a manner similar to depositing via any e-wallet or debit card.

However, some players are still prejudiced against the benefits of using Bitcoin. If you are also among them, you will definitely be interested in finding out more about the advantages and disadvantages of making online casino deposits and withdrawals with Bitcoin.

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Advantages of using Bitcoin

The first advantage of using Bitcoin is the privacy it ensures for both casino owners and players. No third party is given access to your personal and financial information. In addition, you will not encounter the chargeback issues associated with the standard credit cards.

Many countries worldwide are yet to legalize online gambling. As a result, some bank institutions do not proceed transactions to and from gambling websites and players are left with no other choice but to look for alternative deposit methods. In this respect, Bitcoin is the best option. The transaction is not processed via a third party (bank). You don’t need to link a credit/ debit card in order to make a payment via Bitcoin.

Another advantage you should be aware of is that deposits and withdrawals with Bitcoin are instant. In point of fact, the majority of contemporary payment processors offer instant deposits, but withdrawals take at least 2-3 days. If you use Bitcoin, you will be able to instantly withdraw your funds. When you send money to the Bitcoin address of the casino the desired amount is immediately transferred after confirmation.

No country in the world has recognised Bitcoin as a real-money currency, which can actually be a two-bladed knife. Yet, your Bitcoins are not a subject to taxation, which is a good thing. Using Bitcoin as a main deposit/withdrawal processor is inexpensive, because you owe no fees for bank transactions. In addition, you do not need to reveal your identity. Transactions are anonymous, which is yet another advantage.

As you can see, there is nothing complicated in using Bitcoin. The transactions are fast and secure, but before you switch to depositing via Bitcoin, you should also be aware of the disadvantages.

Disadvantages of Using Bitcoin

Casinos that accept Bitcoin do not need to hold a license issued by a certain jurisdiction. It is a well-known fact that licenses are associated with a lot of application fees, so online casinos can save huge amounts of money they would otherwise spend on applying for a license.

Although Bitcoin’s popularity is increasing, the online casinos that offer Bitcoin as a deposit/withdrawal method are still a few.

Another drawback is that Bitcoin can be a volatile currency. It means that the exchange rate can move extremely quickly. If it moves positively against the dollar, this is in your favor. However, if it moves negatively, it works against you.

Sometimes, withdrawals with Bitcoin can take even more time than withdrawals to credit/debit cards. The reason is that some websites process the Bitcoin withdrawals manually for security purposes.

How to use Bitcoin for making online casino deposits

The first thing you have to do is to set up your wallet and then verify your account. If you are planning to deposit smaller amounts, you can create a wallet within the system of the provider. However, if you are going to wager larger amounts, you are advised to download an encrypted wallet to your computer/mobile device.

The next thing you have to do is to fund your wallet. You can do that via a bank wire or ask someone to transfer Bitcoins from their wallet to yours. Keep in mind that a special key is generated for the purposes of every transaction.

Next, you have to make sure the casino you are planning to play at, accepts Bitcoins. Don’t underestimate the importance of checking whether your casino of choice is a reputable one.

When you choose Bitcoin as a deposit option a string will be generated. You have to copy/paste it and determine the amount of Bitcoins you would like to transfer. The transfer is instant. If you have deposited a small amount, you will be enabled to immediately start playing. If you are depositing a bigger amount, it might take some more time as the amount need to be processed through the blockchain a few times.

The Bitcoins will be converted into another currency at the time you make a deposit.

As for the withdrawals, there are some casinos that do not process withdrawals via Bitcoin. If this case, most players opt for a paper check as a withdrawal method.