What do we know about virtual gambling that is wrong? To play or not to play – everyone decides for himself. But in order to make the right decision, it is advisable to know the “material parts”. We understand the topic and tell you why you shouldn’t believe it.
Myth No. 1. Casinos and Bookmakers Are Illegal Businesses
Let’s not dwell on the “100,500” documents that need to be prepared to open a virtual gambling establishment. Let’s give a couple of facts. The gambling business is a licensed type of activity, which means that in order to legally conduct it in the Republic of Belarus, you must obtain a license. And one more important thing: the online casino must have a minimum deposit of 2,250,000 Belarusian rubles in order to ensure payments in the event of large winnings.
Myth No. 2. It’s Impossible to Win At an Online Casino, and It’s Impossible to Beat a Bookmaker
Let’s turn to statistics. According to the Guinness Book of Records, the largest jackpot in an online casino, namely 17.9 million euros, was won by John Heywood on October 6, 2015.
Here are two other examples:
- Elmer Sherwin:
- Bet Amount: $3.
- Win Amount: $4.6 million.
- Game: Elmer Sherwin, an 80-year-old retired flight attendant, won $4.6 million on a Megabucks slot machine at The Mirage Casino in Las Vegas in 1989. He had previously won $4.6 million on the same type of machine in 1986 with a $3 bet.
- John Orchard:
- Bet Amount: 30 pence (about 40 cents).
- Win Amount: £5.88 million (over $7.7 million).
- Game: In 2012, John Orchard from the UK won a massive jackpot while playing the online slot game “The Dark Knight” at Butlers Bingo. He staked just 30 pence on the winning spin.
So of course, you’re not going to win an impressive amount of money each time you enter a website, but these examples show that luck can be on your side.
Myth No. 3. You Need a Lot of Money to Play In Online Casinos or Bet on Sports
Some providers – developers for online casinos – offer games in which you can place bets for literally pennies. So, for example, the National Casino has games that accept bets from $5 to $10. In order to actually start playing, you need to make a minimum deposit. You can click here for more info on deposits.
Myth No. 4. You Can Predict When You Will Win
Regulars of land-based casinos like to say this, especially in relation to slot machines.
Moreover, some claim that this can be determined by how hot the machine is, while others say that a quick win can be guessed by the smell: a machine that is about to bring good luck smells different. The editors did not conduct experiments in land-based casinos, but with regard to the online industry, the answer is clear – it is impossible to predict what a slot (slot machine) will produce. The same situation applies to sports betting. Hundreds and thousands of factors, ranging from weather to the family circumstances of athletes, influence the outcome of a sporting event. Is it possible to beat the theory of probability? Hard to believe.
Myth No. 5. You Have to Wait a Long Time to Claim Your Winnings
Through a number of payment systems, you can withdraw your honestly won money instantly, and immediately after deducting taxes. Of course, if there are no technical failures or any other force majeure on the banks’ side. For their part, bookmakers, on the contrary, are interested in the smooth operation of the system. It’s all about their reputation.
Myth No. 6. It’s Impossible to Stop Someone Who’s Playing Too Much
It is. And it is even necessary. Everyone, of course, remembers that the possibility of making a profit is inextricably linked with the risk of losses, but not everyone is ready to realize this. And here legislation comes to the rescue. Each country has its rules about gambling. If the law rules a ban, the ban will apply to all legal casinos and bookmakers within the country. A player may be limited by a court decision based on requests from relatives if he puts himself or his family in a difficult financial situation, again this will depend on the country where you live.
Myth No. 7. Bookmakers Are the Perpetrators of Match Fixing.
The bookmaker’s earnings are the margin that is included in the odds. If the probability of an event occurring is 50%, in this case the bookmaker calculates the winning bet not as 1 to 2, but as 1 to 1.9, which allows him to earn a margin of 5%. All fixed matches upset this balance, which becomes unprofitable for both bookmakers and honest players. Bookmakers like to joke that for them the most positive outcome of a sporting event is a score of 0:0 or a draw, because usually players bet on this result the least often, which means that it is from them that bookmakers earn the most.
