Online Casino Gambling

In all casino games, when the player places a wager it is deducted from their account balance. Adversely, when the player wins virtual chips their account balance increases. This is a consistency found in both online gaming as well as live play. However, in online gambling, different software developers utilize different mechanisms to fulfill these transactions.

Standard Banking Methods

Microgaming and Playtech use the standard version found in some casino games. The player’s balance is temporarily based on the game in which they are playing. Once the player selects the specific betting amount, those chips are deducted from their in-game balance. Meanwhile, the total casino amount remains the same because the chips for each game are deducted once the game begins.

If the player closes out a game, the amount left in their temporary account appears back in the casino account. Therefore if it is less than the amount they began with, the player has lost; if it is more the player has won. However, once a bet is submitted within the game, that money cannot be refunded. The only way is to win or break even (only in some games).

Realtime Gaming Banking Methods

On the other hand, Realtime Gaming using a mechanism commonly found in live slot machines. The player’s balance is displayed on the screen but cannot be used to place wagers. Instead, players must purchase coins or credits and add them into the video poker game. For instance, if the player purchases $25 worth of tokens within the game, the casino balance decreases by $25. If the credits are worth $0.01 the player will receive 2500.

If the player decides not to play this game, they can cash out. Since 2500 credits is equal to $25, that money is transferred back into their account. The betting during the game has no effect on the overall casino balance only the in-game balance. When a player loses all credits or coins, they must transfer more from the casino balance in order to continue playing. If the casino balance is empty, the player must redeposit into their casino account then transfer that into their in-game account.

Financial management for all games is consistent within the specific casino. Although there are different methods, they all make it easy to deposit, withdraw and transfer money within the casino platform. Online gaming sites strive to make these transactions as easy as possible to all players.

Since the passage of the Unlawful Internet Gambling Enforcement Act in 2006, U.S. crackdowns on online casino operators catering to American citizens have become somewhat commonplace. That said, with two big regulation bills currently under scrutiny in Congress, many online gambling enthusiasts were hopeful that such events were a thing of the past. Hope again American gambling fans, because we’ve got some bad news.

House Resolutions 2266 and 2267 proposing the reversal of the UIGEA simultaneous to the legalization and regulation of online gambling in the U.S. were on the agenda for a House Committee meeting on April 16, but the bills were pushed off the agenda in lieu of what committee members deemed to be more pressing economy-related matters.

The UIGEA is scheduled to go into effect on June 1 of this year. The act was originally scheduled to go into effect in 2009 but the implementation was delayed to give the necessary government bodies time to review HR 2266 and HR 2267. With the new deadline rapidly approaching and no new hearing yet scheduled, many proponents of online gambling are concerned that the U.S. will return to its restrictive online gambling policies.

Until the UIGEA is implemented, the U.S. government has no official stance on online gambling, but many state and federal offices have used the preexisting Wire Act to prosecute casino operators and funds transfer service companies for sending and receiving money to and from American residents for the purpose of gambling online. In fact, on April 16 an Australian payment facilitator named Daniel Tzvetkoff was arrested in Las Vegas amidst allegations of processing almost half a billion dollars in illegal online gambling payments.

If the BetOnSports case which just wrapped in January is any indication of how the U.S. legal system plans to treat such operators, then Tzvetkoff could be in big trouble. BetOnSports founder Gary Kaplan and CEO David Carruthers received four years and three years respectively for encouraging their company to accept payments from American banks. Both men were likewise fined a combined total of more than $70 million.

What do the legislation delays and operator crackdowns mean to the common player? If you’re not American, then neither scenario will affect you. If you are an American gambler, you cannot be prosecuted for playing real-money games online, but funds that are in transit to or from an online casino could be seized by a government body. That’s what happened to hundreds of American players when the Southern District of New York seized more than $30 million last year. None of the funds have as yet been returned to the account holders.

When it comes to the latest in online gambling regulations and legislation, all eyes are currently on France. While various members of the EU have been at odds for over a year with their dramatically different laws regarding online gambling, France – which had been straddling the fence for over a year with its highly restrictive gambling legislation – has finally come over on the side of full online gambling legalization.

Earlier this week, in a relatively close vote of 299 to 223, France’s National Assembly passed a new bill which will pave the way for popular online gambling activities like cash poker and sports betting. The bill is now on its way to the European Commission where it is expected to be approved in April. From there the bill will move on to the French Minister who is likely to sign off on the new laws in May, allowing near-immediate implementation nationwide.

It would be nice to say that French legislators finally saw the light, but it’s more likely that what they saw was green. With one of the most popular sports betting events – the World Cup – fast approaching in June, the National Assembly seemed all too eager to push through the once-controversial legislation which should coincidentally be in place just in time to allow the country to profit from remote betting for the event.

In the past, France has only allowed online gambling through approved national operators. Though this new legislation will ideally open the market to more outside operators, finally giving French players their choice of online poker rooms and casinos, many private companies still fear that France will cling to its national interests by continuing to openly favor French-owned operations. These concerns aren’t entirely unfounded, especially since the French-based Mangas Gaming group was the first to profit from new advertising deals.

Reuters released a comprehensive French online gambling market overview on the heels of the National Assembly’s positive decision, and by all accounts the potential profit margin for operators based outside of France are grim, what with continuing restrictions on popular games like roulette and blackjack. Still, such operators remain optimistic about their prospects in France. Leading bookmaker bwin – which only four years ago faced legal action in France for illegal gambling charges – is only days of away from relaunching French access to their sites.

Online gambling has grown to become a fiercely competitive industry.  This is evident when examining some of the top online casino software providers and their respective portfolios.  Take Microgaming for example.  This company offers more than 400 games, giving players the beauty of variety.  Rival Gaming on the other hand, only has about 60 games in its portfolio.  Does the number of games a casino offers really matter?  Does it mean that one software provider is better than the other? Although it all depends on who you ask, this article will strive to provide the answers.

Veterans vs. Newcomers

When trying to determine why one casino has considerably more games than their competition, one must understand that some online casino software providers have been in the business much longer than others.  For instance, Microgaming has been around for more than a decade now whereas Rival Gaming got its start just a few years ago.  This alone is a significant factor that accounts for the vast difference in the number of games a given casino has to offer.  The second reason is associated with the rate of releases.  Over the years, Microgaming has been committed to introducing three to four new titles every month, while Rival Gaming adds new games on a more sporadic schedule.

The Aspect of Variety

When you create an account with an online casino powered by Microgaming software, you will have your shot at well over 400 games.  More than likely, you will not have the time or desire to play all 400.  Some players prefer slots, some love scratch cards and others live for the thrill of table games.  For this reason, they are more likely to stick with the games that fall into those categories.  Hence, the power of Microgaming casinos does not lie in the 400 games, but the variety they offer to the player.  Everyone is different and has their own preference, factors that allow the software provider and its licensees to cater to the masses.  So while a company such as Rival Gaming cannot match Microgaming’s variety, one like Cryptoplogic, which offers a diverse portfolio of about 200 games, can.

Out with the Old, in with the New

The rate at which new casino games are added is another important factor on the market.  While certain games such as blackjack and poker will probably maintain their popularity for an eternity, other games will become dull over time once people grow tired of playing them.  For example, online slots without the additional bonus game on the separate screen are considered old news among many players.  While some players still prefer the old school version, that percentage is dwindling quickly.  For this reason, software providers that keep the market fresh with new titles are more likely to attract more players and maintain their interest.

Conclusion

The battle continues to wage on, but direct competition in the online gambling space is actually on the decline.  Today, operators are focused on strengthening their bottom line through niche markets.  A perfect example is Rival Gaming and its exclusive i-Slots.  As more players emerge online, they will likely discover their niche and find that the number of games a casino offers isn’t as important as it once seemed.

In the land-based casino environment, the serious gambler rarely shows their emotions, especially when intense games such as poker are involved.  After all, doing so could prove to be very fatal.  Players can let their guard down and relax a bit more when playing online.  This is because they usually play at home by themselves or in the company of family or friends who don’t mind seeing them get excited should they happen to score a nice payout.  If you are lucky enough to win money by gambling online, you have all the right to scream, shout and jump for joy.  However, if you are not able to control your emotions when playing at home on your computer, unleashing your excitement in the online world could lead to your downfall just the same.

A Fall From Grace

Online casinos are able to offer games with a lower house edge because their operating costs are much lower than land-based casinos.  This equates to higher payout rates and greater opportunities for the player.  Unfortunately, players tend to part with larger amounts of money faster online than when gambling in brick and mortar casinos.  The main reason – players get lost in their emotions and continue to wager when they should just sit back and enjoy their winnings.

Take the player who just cashed out big at an online casino for example.  After winning, they brag and boast to their friends, relishing in their good luck and all the money they won.  Convinced that today is their lucky day, they continue to gamble, now wagering with the feeling of invisibility.  Unfortunately, more often than not, the player ends up losing all of their winnings and may even dip further into their funds to hand over more money to the casino.  Desperate to get it all back at all costs, they keep gambling and continue to lose.  A good rule of thumb for online gambling is to never play more than you originally intended to bet.  If you do, you could find yourself chasing elusive winnings that only stand to deplete your bankroll in record time.

If the player in the above scenario would have kept their emotion under wraps and applied rational thinking to their subsequent wagers, the outcome would have probably worked more in their favor.  There is nothing wrong with showing a little emotion when you win money from betting online.  However, if these are substantial winnings, you may want to consider withdrawing them before popping the champagne cork and celebrating into the night.  The last thing you want to do is blow the money you won and lose even more by trying to redeem yourself.

The Moral of the Story

When it comes to gambling online, it is important to adopt the skill of being able to control your emotions whether you win or lose.  This is not as easy as it may sound so if you have never played at an online casino, you may want to practice with some free games before you even put up a wager.  If not, you stand the risk of losing a lot of money and taking the first step on the road to compulsive gambling.

Despite the surging popularity of online gambling, there is still a large number of individuals who do not feel safe enough to gamble at the many available internet casinos.  Many of them believe that these websites exist solely to contribute to problem gambling, underage wagering and money laundering.  What makes it worse is that these issues are a reality in various areas of the world.  In fact, unlicensed and illegal internet casino sites are currently operating in China, Korea, Japan and many other countries.  One major reason this occurs is because of the online gambling laws enacted in certain areas.  Some countries have simply chosen to make this activity illegal and forbid their citizens from partaking.  While all jurisdictions have their reasons for being for or against online gambling, it does nothing to sooth the fear of individuals who are spooked from all the security horror stories.

Security Conscious Casinos

Interested yet hesitant parties should be comforted to know that reputable online casino operators understand their concerns regarding security.  These companies work diligently to prevent issues of fraud and hacking from occurring within their gaming environment.  The online gambling industry is prevalent in the UK and to no surprise, this area is home to internet casinos that offer players some of the best protection available.  At the same time, they realize that no website is ever 100% safe, so many are now working to improve their level of security to ensure players even better protection.  UK operators are currently working with internet security firms to enforce security protocols and verify identification.  Casinos are putting emphasis on mechanisms that prevent underage gambling as well as unauthorized account access from parties that are not validated.  These efforts are being made to better ensure that player casino accounts and most importantly, their funds, are protected.

PartyGaming and PKR.com are two of several online casinos in the UK that have decided to ramp up their security efforts.  They have let it be known that it is their obligation to keep the security systems up to date and also make sure underage gamblers are not participating.  When asked if these efforts were being made to eventually tap into the American market when and if regulation is introduced, both stated while they always look to expand, they are more concerned about providing a secure gaming environment.  In the eyes of PartyGaming and PKR.com, the potential of the U.S. market isn’t nearly as important as protecting the players.

Conclusion

If an online casino cannot provide dependable security, there is no way they will survive in this fiercely competitive market.  However, operators must be aware that the evolution of technology opens up the door to more security woes.  Every time a viable security tool or method is introduced, the criminals always seem to find a way around it.  Therefore, security systems need to be updated on a regular basis to keep the player community protected.  Thankfully, many online casinos in the UK and other areas realize this and do their best to ensure security for their players regardless of where they reside.