Are you a big fan of online casino gambling? We love online gambling too, which is why we have devoted our website to gambling-related topics.
The thing about online gambling is that there is so much to know. It is a vast and wide-open industry with some aspects that apply on a global scale and others that are more regionally or locally focused. You could spend a lifetime studying the industry and still never learn everything there is to know. And of course, the online gambling universe is constantly expanding.
Knowing what we know, we thought it might be interesting to analyze some of the fundamentals that seem to apply across the board. We came up with the 10 undeniable truths listed below. If you can think of any more, feel free to add them to your own list.
1. No Consistent Legal Framework Exists
Undeniable truth #1 says that no consistent legal framework exists within the online gambling universe. The profundity of this truth is underscored by the fact that, even in jurisdictions where laws are pretty clear, enforcement of such laws is ambiguous at best. This lack of a consistent legal framework makes it impossible for us to say, as a blanket statement, that you can legally gamble online no matter where you live.
There are some countries where gambling is strictly prohibited in all its forms. China is a good example. There are other countries where you can gamble on just about anything. The UK is a great example. Then there are countries that cannot seem to make up their minds. The U.S. shines in this regard. U.S. laws are essentially a patchwork of regulations from each of the 50 states.
2. It Is Very Difficult to Stop
The lack of a consistent legal framework aside, it is very difficult for authorities to stop online gambling even in jurisdictions where it is prohibited. The problem for authorities is that it is extremely difficult to regulate internet activity of any kind. Regulators can pass all the laws they want, but enforcement of said laws is nearly impossible.
At the core of the issue is the incredible speed at which internet technology is changing. Government regulators simply cannot keep up. Furthermore, investigative and enforcement techniques are not sophisticated enough to keep pace with the people developing the technology that makes online gambling possible.
As just one example, IP masking by way of a virtual private network makes it possible for people who live in a country were online gambling is illegal to still play their favorite games. There is no way for law enforcement to track them down because use a VPN makes it difficult to know their true internet addresses.
3. Banking Can Be Used as an Enforcement Tool
Authorities do have one particularly valuable tool to aid their limited enforcement efforts: banking. For example, let's say you make deposits at your favorite online casinos using a major credit card. It is fairly easy for government authorities to find out how much you've deposited, when it was deposited, and so forth. All they have to do is look at credit card data.
For right or wrong, this is one of the reasons gambling with cryptocurrencies has been accelerating in recent years. Cryptocurrency platforms like Bitcoin and Litecoin are both secure and encrypted, making it nearly impossible for authorities to glean any useful information from their respective blockchains. People can deposit cryptocurrency with a reasonable expectation that their activities will remain private.
4. It's Best to Stick with Licensed Operators
There is little doubt that not all casino operators are honest. But that is true of any industry. So, undeniable truth #4 is that it's best to always stick with licensed operators when you gamble. A licensed operation must prove its honesty and integrity in order to be licensed initially. Most jurisdictions follow up with regular re-licensing requirements that hold operators accountable.
The UK is considered a world leader in online gambling because of its licensing requirements. All operators hoping to set up shop there must be licensed by the UK Gambling Commission. Elsewhere, the Malta Gaming Authority and the Kahnawake Gaming Commission (Canada) are two other regulatory bodies known for keeping operators honest.
5. Random Number Generator Games Dominate
Our next undeniable truth is that random number generator (RNG) games dominate the online gambling landscape right now. What is an RNG game? It is a game that relies on a software implementation of a random number generator to determine results. The MegaMoolah.com video slot is a great example.
Every symbol in the game is represented in the associated software by a number. When you click the button to spin the reels, the software's built in code randomly chooses a number to fill every slot position on your screen. The symbols that correspond with those numbers is what you actually see.
Random number generators have been in use with video slots ever since computerized versions of the games began replacing mechanical slot machines. The beauty of random number generators is that they can also be used to facilitate video poker, blackjack, roulette, and all the other table games you currently find online.
6. Gamblers Love Their Jackpots
Speaking of MegaMoolah.com, our next undeniable truth is this: gamblers love their jackpots. Playing a slot or table game to win the normal payout on your bet is one thing but playing to win a jackpot is something different altogether. People love jackpots because they are so much bigger than standard payouts.
The granddaddy of all jackpots is the progressive jackpot. What is a progressive jackpot? It is a jackpot that is funded by 'contributions' from every player currently playing the game through which it is offered. So let's say you're playing MegaMoolah.com. Every time you place a bet and spin the reels, a portion of your wager is put into the jackpot.
The progressive jackpot continues to grow until someone finally wins it. At that point, it resets to a default value funded by the casino. Subsequent play across the network continues growing the jackpot again.
7. Live Games Offer a Unique Experience
One of the hottest trends in online gambling right now is live gaming. Live games are table games hosted by live dealers and croupiers in either studios or existing land-based casinos. Online players get in on the action through a combination of live audio and video. Operators make it possible by combining computer software with their live feeds for a real-time experience. It is also a unique experience. Live games combine the excitement of being at the casino with the convenience of playing online.
8. Online Gambling Is Convenient
Speaking of the convenience of playing online, that is the next undeniable truth of online gambling. Playing online affords you the opportunity to play whenever you like it. Because you are not restricted to the operating hours of a local land-based casino or betting shop, you can play whenever the mood strikes you. If you play on a site that is mobile friendly, you don't even have to be behind the computer. You can play your favorite games with a smartphone or tablet.
9. You Don't Always Have to Bet Real Money
As we close in on the end of this post, the #9 undeniable truth is one that a lot of new gamblers are happy about. Here it is: you do not always have to bet real money. A lot of online casinos allow free demo play of at least some of the games. Others offer free demo play on every title in their inventory. It is up to casino operators to decide.
At any rate, free demo play allows you to try new titles before you wager any real money. It gives those who really cannot afford to place real money bets an opportunity to still enjoy the experience of online gambling. And of course, free play gives game developers an opportunity to showcase new games as soon as these are ready for prime time.
10. The Era of Bitcoin Gambling Has Arrived
Our final undeniable truths states that Bitcoin gambling has now arrived. We use the phrase 'Bitcoin gambling' as an umbrella term covering gambling activities using any cryptocurrency. So we might be talking about Bitcoin in one post even though we are referencing other cryptocurrencies like Bitcoin Cash, Ethereum, and Monero.
We cannot say that the majority of online casinos accept Bitcoin and its competitors right now. But as time marches on, more operators are seeing the value of accepting crypto deposits. In the last 12 months we have even seen a rise in the number of casinos that are operating exclusively on cryptocurrency.
These 10 undeniable truths of online gambling paint a pretty clear picture of where the industry is right now. It is a thriving industry that is reaping billions in profits every year. It is an industry that is padding coffers, making millionaires out of operators, and giving players every opportunity to enjoy an activity that mankind has been doing since the earliest days of its existence.