Online Casino Prime News & Updates


As the premiere source for gambling news and updates, Online Casino Prime has everything about online casinos and Internet gambling. We offer a complete, detailed and in-depth information with regards to online casino industry.





Myths and Facts of Online Gambling


Are you aware of the different myths and facts about online gambling? Well, you may be familiar with some, but not all actually. Since not all of us are aware of this, we will give you a concise information regarding the different myths and facts about online gambling. By this,people like you will be able to know what really lies behind the truth of the Online Gambling Industry.

MONEY LAUNDERING

MYTH: Online Gambling is more prone to money laundering than land based casinos
FACT: This is a myth and not true. Why? Observe well, in such cases of land based gambling,  money transactions is in a direct form.
It means a person bet his own money directly to anonymous cash transactions. While in online gambling, you are more safer because every transaction made is through online payments, and credit cards. And these transactions are recorded electronically. The fact that there are more reports of money laundering in land based gambling places than online gambling.

Even when the US political officials have said that these online gambling is more prone and susceptible to money laundering, they have never cited any example yet. Not like land based casino where different reports have been made.

GAMBLING ADDICTION

MYTH:  Online Gambling presents higher risk for players to experience gambling addiction and abuse.
FACT:     Scientific evidences does not support this claim.
Online Gambling can be better monitored to avoid such issues than the traditional forms of gambling, which is the land based casinos. Real slots, lotteries and race tracks are said to be more addicting than the gambling form in the Internet. Only a small percentage (about 1%) of reported online gambling addiction has been recorded, and this are those problem gamblers who cannot control their activity. Although both have their own issues on problem gambler, the traditional form of gambling has more adverse effect and has higher percentage on such issue than online gambling.
CRIMINAL OFF SHORE COMPANIES

MYTH:    Online Gaming operators are more likely to be criminal off shore companies.
FACT: Definitely untrue. We all know that these companies are licensed and perfectly legal companies.
If you are not sure about online gambling operators’ legality, you can check out the Internet and find eligible information about their legality. And of course, these gambling operators will not be licensed if they are criminal off shores. Even the Online Gambling industry protects its own respect and dignity in their chosen field and to all their supporters.
UNDERAGE GAMBLING

MYTH: Online Gambling is more likely to attract young gambling players than the traditional form of gambling.
FACT: Wrong. Why? Simple. Young ones cannot make any banking transactions if they are not on the legal age.
While in the traditional form, it is more prone since different transactions are anonymous and not all are recorded. Online Gambling operators require the age of their clients for them to regulate and control such young age people in making any transaction to their online casino. The US government concluded that online transactions are made safe for children since it requires proof of identity and age. There have been a bill passed in the US government for age verification tool. This will help in determining if a person is already at legal age to make any proceedings in an online casino.
EXISTENCE OF ONLINE GAMBLING IN THE UNITED STATES

MYTH: Online Gambling does not exist in US
FACT: Actually, Americans are allowed to bet via their computers, televisions, or telephones on different horse races and other same services.
The United States does not totally prohibit online gambling. The truth is that US regulates its own domestic online gambling. Several states sanction forms of online gambling as well. As we all know, some several states in the US flourishes because of online gambling enterprises. Some other companies that accepts bets for horse races is operated by such states under US, where in the profits of this flow into their government.  Another proof is that the state of Nevada has the largest betting region in the US. Nevada residents are allowed to bet and wager their money in sports events via telephone, internet, or any means valid. They even have lottery outlets in different parts of their state.

This entry was posted in Casino News, Online Casino, Online Gambling. Bookmark the permalink.

Leave a Reply Cancel reply