By Harry Falcon
Despite online gambling growing in popularity, its age-old myths and fallacies still follow it around. Although there is a certain charm to some as they go hand-in-hand with our psychological biases with the game, which makes us human, some are outright dangerous bits of misinformation. So, with the help of the following myth-busting tips, you can confidently play at legal casinos found at casinosonline.ph without getting tripped up by the same old biases.
Myth: "Online casino games are all rigged" vs reality
A persistent shadow follows online casinos, and it’s the feeling that some people get when playing that the operator could be rigging the situation. Perhaps the line of thinking is that they own the website, so what’s stopping them from changing the code?
The truth is that most casino operators don’t program their own games, they use games from certified publishers. These publishers are regulated, and the game’s code is checked to ensure the return and RNG is exactly what it claims to be.
A legal, licensed casino will only use trusted casino game providers that have a track record of delivering the claims they make, else they risk losing their license. And truthfully, they can make a profit without needing to lie or “rig” it, as the house already has an edge…
Myth: "My personal and financial data isn't safe" vs reality
Sharing personal and financial details online raises concerns about security for some, with fears of identity theft or fraud. The truth is that, should you play with a licensed and legal operator, there are security standards.
It’s standard practice to have Secure Socket Layer (SSL) or Transport Layer Security (TLS) encryption, which helps scramble data between your device and the casino’s servers. For deposits, there will be Payment Card Industry Data Security Standard (PCI DSS) requirements.
Ultimately, your main concern about casinos not adhering to these practices is whether it’s an unlicensed casino.
Myth: "Something is due to happen" vs reality
Perhaps the biggest myth there is, and this perhaps more common in land-based casinos, is to see a certain pattern play out and believe an event is due to happen. For example, four blacks in a row at roulette, the player believes a red is due next. Or, four losses in a row in Blackjack, they increase their stake because they’re due a win now. Each hand, each roll of the dice, and each spin of the wheel is independent from the next - there are no patterns across games, unless you’re an expert at tracking hot decks and counting cards (which isn’t possible online, anyway).
Myth: “Bonuses are free money" vs reality
Online casinos acquire customers by offering welcome bonuses and free spins. Some claim it’s a sham, some claim it’s free money - the truth is, as usual, somewhere in between.
Generally, the big claim about getting 20 free spins or a certain dollar amount in rewards isn’t entirely as it seems, because you cannot just withdraw it (or the immediate winnings) without meeting certain wagering requirements.
But, this doesn’t mean it can’t be free money, because it is possible to meet those requirements. And, some casinos legitimately offer these freebies with no deposit required, which is, at the very least, a free punt. But free money? No, it’s not that straightforward.
Myth: "If you double your stake, you can’t lose" vs reality
The allure of a foolproof system to beat the casino is so strong that, despite being warned against, it has persisted for decades. The Martingale is the most famous example, which is where you double your bet after a loss. Eventually, in theory, you will recover your initial stake.
The reason why this is theoretically true yet practically untrue (and therefore a myth) is that your stake can rack up immensely quickly and run your bankroll dry before you get the win. If you start with a $10 stake, after 6 losses, your 7th bet now has a stake of $640 - if you don’t have that on you, you lose $630 anyway, because this is the amount of the 6 stakes cumulative so far. If you’re brave enough to go for it and win that 7th bet, your efforts will result in just $10 of winnings, despite so much money being risked.
Myth: "You can’t get a mortgage if you bet" vs reality
There are certainly some people who want to keep their betting activity private, and this is well within their rights to. However, the fear of not being able to get a mortgage is overblown, particularly considering examples like the UK, where home ownership rates are high and yet they’re one of the biggest users of online casino games.
Each lender is different, but unless you appear as though you have a problem and bet beyond your means, interacting with licensed gambling companies doesn’t blacklist you from a mortgage in most modern economies.
It certainly won’t help, and it will be a consideration and not totally ignored. However, deposits to online gambling companies is very common and won’t spook most lenders, unless the deposits figures are troubling.
Informed play is safer play
Gambling is centuries old, yet online casinos are only a couple of decades new. Although there are certainly some challenges around modern technology and the innovative use of promotions, there’s no need to fall victim to myths that have tripped up players for centuries.
