Risks In Online Gambling

Online gambling is enjoyed by millions of people worldwide in a variety of formats including casino games, poker, lottery and sports betting. While there are protections in place, gambling activity opens up individuals to several risks. This article gives an objective overview of the risks involved in online gambling including fraud, cheating and the ease of losing control of your losses.

Risks In Online Gambling - Fraud And Credit Card Theft

With so many gambling sites based on lightly regulated offshore locations there is always the danger than an unscrupulous company or individual will steal your credit card details. When you deposit at an offshore casino, you are engaging in a high-risk activity compared to shopping or booking flights (for example). These concerns can be somewhat reduced by sticking to the best known brands - especially those who are regulated and / or listed on stock exchanges. You can also protect yourself by using an 'electronic wallet' service, which acts as an intermediary between your bank and the offshore company. With this method you might still lose your deposit, only not your credit card.

Risks In Online Gambling - Rigged Games

Casinos have an edge built into all of their games, Poker sites take a small percentage from every hand, and betting sites ensure that their spreads give them a profit from the total of bets made. While this means that gambling companies are assured of a profit over time, there is always the temptation - and quite possibly the technical ability - to tweak the odds further in favor of the house. To protect yourself from rigged games, players should search for external certification of the software being used - genuine operators are usually happy to display these on their homepage, if they are not then it might be best to steer clear.

Risks In Online Gambling - Collusion

This is specific to poker games, and is a known problem among those who enjoy this popular pastime. Opponents can gain a big advantage by sitting at the same table, and sharing information on their cards. They may also squeeze more bets from unknowing victims by manipulating the betting, or even 'dump chips' to stop each other being busted from a tournament before the money. Fortunately, most people attempting to collude are very bad, and the patterns of play get picked up fast by the poker site software. If you feel there is something odd going on at your online poker table, write to customer support immediately (and leave the game too) they will usually be happy to handle any investigation.

Risks In Online Gambling - Yourself

When you are handing over real money for lottery, sports or casino gaming, you are often more aware of the value of that currency in the 'real world'. When gambling online it is too easy to re-buy a new bankroll with a simple click of a button. Since this is so detached from reality people can get carried away, losing more than they ever intended to gamble with. If you have discipline issues in this area then it is best to avoid online gambling altogether. In addition, the more reputable sites have limits which you can set up for daily, weekly or monthly totals - ensuring that the dreaded 'tilt' does not wipe out your real-world bank account.

While there are many potential pitfalls of gambling on the internet, many millions of players enjoy this pastime without falling foul of any of the risks mentioned above. Being aware of the potential problems, and being proactive in ensuring that they do not affect you, should ensure you can gamble online safely every time you play.