Are online casinos scams?
Are online casinos scamming players coming to their site? The answer is quick and easy. No, it is one of the most regulated and controlled environments in the world. No scam is possible in this environment considering the monetary stakes, of course, but also the penal stakes. We will therefore explain to you why an online casino is reliable. But not only that, we will also show you how to detect the scams that revolve around this environment, without this coming from the online casinos.
How does a reliable online casino work?
There are several factors to consider in determining whether or not an online casino is reliable. Here are the important and necessary criteria for an online casino to be considered reliable.
The gaming license
It is important to know that a casino online is regulated by a compulsory gambling license. There are several licenses, but the most common in the industry is the license issued in Curaçao by the Master Gaming Licence CIL (Curaçao Interactive Licensing N.V).
This license is granted to an online casino after a series of extensive tests proving its reliability. If you find yourself in an online casino, this is the first thing you should check before depositing any money.
Where can you check that the online casino you are at has a gambling license? It's very simple, just go to the bottom of the online casino page or to the legal disclaimer to find the logo or text of the license. When you click on the logo or clickable link, you will be redirected to the casino's gaming license page.
We advise you to check the status of this license carefully, as some online casinos with no or no longer a gaming license may try to slip through the cracks. Online casinos without a valid gaming license are subject to heavy fines and severe prison sentences.
Online Casino Terms and Conditions
This part of an online casino is too often unread or even forgotten by the players. However, it is a very important part of an online casino before you start playing. This text, which can seem so long, is essential for your gambling sessions to go smoothly, it's not there to make it pretty. Even if an online casino is approved by a gambling license, there may be some conditions that are very limiting.
The terms and conditions are not only there to disadvantage the player as some might think, they are also there to protect the player.
We, therefore, advise you to read every single line of this text, especially when taking a welcome bonus which often requires wagering conditions.
Betting conditions and withdrawals
Some online casinos set up betting conditions that are sometimes too high. To give you an idea, in good online casinos the wagering requirements for a deposit bonus are around 30 times the amount and a maximum bet of €5.
The same goes for withdrawals, some online casinos put a limit on your deposit while canceling the excess you have won. This is completely abusive, good online casinos do not cancel your winnings, they just ask you to make several withdrawals on a weekly or monthly basis.
How a provider works
What is a provider? A provider is an online casino game provider that can operate multiple online casinos. They are in no way affiliated with any particular online casino.
In addition, these companies are also regulated and monitored by institutions to ensure that there is no rigging in their games. Every game before it is released, whether it is a slot machine or a straight game, is tested millions of times to determine the "RTP" (return to player). If the RTP is too low, the game is not accepted at the same level as if it was too high.
The average online casino game has an RTP of 97%. So 97% of the money put into the game is redistributed to the players. But how does this actually work? Here is a small diagram followed by an explanation so that you understand:
1. Play'n GO makes available via their servers the Book of Dead machine
2. The casino transmits and makes the machine available on their catalog for players to play.
3. The player plays on the machine by putting his or her money in the machine and the casino collects it.
4. The casino pays a commission to Play'n GO for allowing them to add the machine to their catalog.
As you can see, the online casino has no influence on the slot machine. Therefore, they cannot decide to give a player an advantage, and the same goes for the provider, who can face significant jail sentences and heavy fines if they try to defraud.
The real online casino scams?
Previously, we've given you the tools to spot whether a casino is reliable or not. In the following points we will look at some of the cases that you can find on the internet that are right after your wallet.
Fake online casinos steal from you
We have shown you how to check if an online casino is a real online casino. You have to be very careful, the main factor to verify it is the gambling license that must be available on the site. If it is not a casino regulated by a gambling license, they will lure you with tempting offers but you will not receive a single cent if you wish to make a withdrawal. Furthermore, since these kinds of online casinos are unlicensed, they offer providers unknown to the battalion. This can also be a lead to keep up your sleeve to unmask this kind of scam.
Some platforms don't have a license (most CS:GO skin betting sites), but that doesn't mean they are not reliable. To ensure the reliability of this kind of site, each move you will play must be accompanied by a "PROVABLY FAIR" link. This link allows you to verify that the move you have played is unique and fair.
Influencers are not your friends (especially in the online casino)
We see a lot of influencers, on their social networks, promoting groups or training courses promising you 100% success at the casino. This kind of people are to be fled. Why should they run away? They are not your friends, they just want to redirect their audience through an affiliate link allowing them to generate revenue from the loss of their subscribers.
Online casinos are fighting against this kind of charlatans. They are not interested in getting traffic like that at all.
Telegram groups use people's naivety
Here is one of the links in the chain closely related to influencers. This kind of group promises you a lot of fun by explaining an infallible technique at roulette (or another game). It's a well-tested plan, they give you a link to an online casino for you to apply this "incredible" technique. The link they give you is not a link like any other, it's an affiliate link allowing them to earn a certain percentage on the loss of their players.
You can already see it's coming as big as a house, can't you? You guessed it indeed, these ill-intentioned people give you a very volatile technique that can quickly make you lose.
As mentioned in the point above, online casinos are not interested in this kind of traffic and ban influential people/affiliates who practice this kind of methods. They would much prefer to have regular players who deposit €50 a month and enjoy their sessions. Not someone who is going to deposit €200, get scammed because of an external factor, and not play on their site at all.
Because of these methods, it makes bad publicity at the said online casino. And it is well known that people leave negative comments more easily than positive ones.
Lucky7Bonus was created to help players find reliable online casinos.
Each of our partners has a dedicated article explaining how it works. In this article, you can also find our full review. We advise you to read them before you play and especially to read the terms and conditions of the online casino.
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