Online gambling is a million dollar industry, but several people still have certain doubts about its safety and legality. Here we have compiled a list of commonly asked question to clear away any doubts you have about gambling online.
Is online gambling legal? This is one of the most common questions that we get asked. The answer to this question is not a simple yes or no. Legality of online gambling depends on the jurisdiction – country or state – that you belong to. In the UK, online gambling is legal and all online gambling operators are recognized by the UK Gambling Commission. Online gambling is also considered legal in many other countries in Europe and Asia.
In the US, however, the laws pertaining to online gambling are unclear, which puts the issue in a grey area. The laws pertaining to legality of online gambling are defined at two levels in the US – the federal level and the state level. At the federal level, the courts say that only sports betting is illegal, and the DoJ states that all forms of online gambling activities are illegal. As most of the online gambling sites are not based in the US, it is legal for US players to partake in all online gambling activities, except sports betting.
At the state level, the laws differ from one state to another. While some states are for online gambling, others are against it and have totally outlawed any such activities in their jurisdictions. In most states, except in Washington and Louisiana, people are allowed to gamble online, but not indulge in sports betting. To ensure that you do not break the law, please check the online gambling laws of your jurisdiction. Today, there are a number of safe and secure online casinos and online poker rooms that accept players from the US.
When compared to live casinos, your odds of winning are higher at an online casino. The reason for this is that online casinos have a higher payout percentage, usually between 95% and 97%, because their overhead costs are low. Also, the casinos try to attract more people to their sites with the higher payout percentages.
The online casino’s payout percentage determines how much you are going to win in the long run, if you play at the site. So if the payout percentage of an online casino is 95%, it means that in the long run, you will end up with $95 for every $100 you spend. The percentage is usually calculated for the long run, and holds good for the many, many hands you play, or bets you place. During this time, you may go through several winning and losing streaks, but in the end the amount you hold will be based on the payout percentage of the particular casino.
One of the biggest fears that online poker players share is not getting paid your winnings. But providing you chose a reliable casino or poker room (as recommended by us), there is no basis for this fear and you will get paid what you win.
As to how you get your winnings, online casinos typically credit winners using the same method used when registering. So if you deposited initial funds through your ewallet, say ePassporte, the casino will credit winnings into the same account. Some online casinos, however, stick to conventional methods like bank drafts or wire transfers when crediting their customers.