Many persistent myths circulate about online casinos. Most are nonsense, and some are (a little) true.
At CasinoFisher, we love honesty and clarity. We think it is high time to list the ten most stubborn myths about online casinos for you. We tell you whether the myth is true or whether it is an absolute fable. And perhaps even more important: we explain exactly why a myth is true or false.
Myth 1: All Online Casinos are Unreliable
Nonsense. Of course, there are (unfortunately) enough online casinos that cannot be trusted. Those online casinos end up resolutely on our blacklist. But the fact is that the vast majority of online casinos can easily be trusted.
These online casinos have reliable licenses from Malta or the United Kingdom and only use casino games from respected and safe game providers. They are under the strict supervision of the party that issued the permit. If they break the rules, a fine will follow, or the license can be withdrawn.
Myth 2: An Online Casino Can Ensure that You Always Lose, no Matter what Game You Play
Nonsense. At online casinos, you play on games from external game providers. These games run on separate, highly secured servers that the casino cannot access. The online casino only functions as a gateway between the player and the game provider. They cannot, therefore, influence the course of the game and only settle the outcome of the bet.
Myth 3: An Online Casino Can Lower all Payout Percentages with the Push of a Button
Nonsense. Many players think that online casinos can set the games to a "give" or a "take" mode. For example, the casino could ensure that on the weekend (if people have more time to gamble) or if the salaries are paid (and therefore players have more to spend) the games pay out much less than average.
The same applies here: the casino could not even reach the games if they wanted it (see myth 2). Besides, every game has a built-in house advantage, so the casino always has a lead over the player in the long run. The offered games are rigorously tested several times a year for randomness, independence, and security. It is also examined whether the advertised payout percentages are in line with reality.
If a casino works together with a game provider, they both run a huge risk: they can lose their license. In that case, they can immediately close their millions of businesses. So there is no reason why a sensible casino or provider would want to mess with the payout percentages.
Myth 4: If You Win You Will Never Get Your Money
Nonsense. An online casino is obliged to check your identity extensively with payouts above $2,300. Many online casinos also go through the identity check with lower payouts. That means that you have to send (or upload) some documents that show that you are indeed the person you say you are.
It is, ultimately, an excellent thing. It prevents other people from running away with your winnings. Money laundering and creating multiple accounts are also prevented. These rules also ensure that someone under the age of 18 cannot gamble.
In practice, it often comes down to having to send a copy of your proof of identity and a copy of the bank account. The latter must, of course, clearly state your name and address. After the casino checks them, your account will be verified, and all payouts will be processed immediately in the future.
Myth 5: It is Impossible to Win at an Online Casino
Nonsense. If no one could win by gambling, no one would ever play. Of course, a casino has a house advantage on every online game. Without this house advantage, the casino would be bankrupt within a day.
But the variance (capriciousness) of the games ensures that every game shows wave movements. Sometimes you stand for profit (you are on the right side of the variance), and sometimes you stand for loss (on the wrong side of the variance). That is also called luck or bad luck.
So stop on time is the most important advice. Too many players do not pay out on time and play away their winnings (and deposits). You always lose it over the long term, which is why the short term session is so enormously important. Playing the right casino games also has a major impact on your chances of winning. If you have a good command of Blackjack, the house advantage is only 0.5% - 1%. Compare that with other casino games such as Keno, American Roulette, or some pokies, where the house advantage can go up to 5% - 20%.
Myth 6: Online Casinos Do Everything They Can to Make You Broke
Not true. Reliable online casinos want you to become a loyal customer who regularly returns to take a chance. It is of no use to them if their players develop a gambling addiction, with all the negative consequences that this entails. Of course, they also have a social responsibility to prevent problematic playing behavior as much as possible.
Therefore casinos have a duty to combat gambling addiction under the rules of the license. Players can protect themselves by setting personal deposit, play, and loss limits. A player also has the option to exclude himself voluntarily, for a more extended period or even permanently. During the exclusion period, the player cannot play at the casino.
More and more online casinos, including those Mr Green and LeoVegas, have developed tools that help the casino and the player to identify problematic gaming behavior and to intervene in time.
Myth 7: Casino Bonuses are There to Lure You to the Online Casino
True. The casino bonus is the ideal way for online casinos to make you play at their site. Giving away bonuses costs the casino money, which they often earn back when players decide to keep playing at the casino.
A casino bonus often consists of a deposit bonus (deposit 100 dollars and receive 200 dollars bonus), and usually, you also get some free spins on a popular pokie like Starburst as a gift.
Casino bonuses must always be wagered many times before they are converted into real money that you can cash out. Most casino bonuses must be wagered between 3x and 60x. That is certainly substantial but remember: it is a gift from the casino. See it as a free extra chance to make money.
If you do not want to adhere to this kind of annoying betting conditions, you can simply refuse the welcome bonus at any good online casino. Some casinos use much lower betting conditions. For example, at both Oranje Casino and Kroon Casino, you only have to wager the welcome bonus 15 times before it is released.
Myth 8: Anyone Can Just Start an Online Casino
Nonsense. If you want to start an online casino, you will need a substantial starting capital. If you want to be able to offer the games of popular game providers such as Netent and Microgaming, you will have to pay a lot of money for that. Building the casino and implementing all deposit methods also costs a lot of money. And do not underestimate costs for staffing: a help desk that is available 24 hours a day via live chat can cost a lot as well.
But even if you have enough money, you are not there. To be eligible for an online casino license, you must meet rigorous conditions. Have you been guilty of criminal activities in the past? Then the Malta Gaming Authority or the UK Gambling Commission will kindly and politely advise you to do something else.
Myth 9: It is Impossible to Win a Million Jackpot
To a large extent, valid. The chance of winning a million-dollar jackpot on the Mega Moolah or the Hall of Gods is terribly small. The chance that you will be struck twice by lightning is probably higher. But there is a chance, no matter how small.
Our advice: only play progressive jackpot pokies with millions of prizes always in moderation and only with money that you can really miss. If you stand a few hundred dollars in profit, hit a few tens, and try to win those millions. Does not it work? Then go and play something else. Or, even better, book and pay a good hotel at a lovely place and treat your partner to a beautiful weekend away.
Myth 10: Online Casinos Pay out Worse than Land-based Casino
Nonsense. The casino games at online casinos often have much better payout percentages than the same games at land-based casinos.
For example, most online pokies pay out between 95% and 99%. Do you play a pokie at a real casino? Then count on a payout percentage between 88% and 92%.
Are you trying your luck in a bar or entertainment hall? Then we wish you good luck - you will need it. Here the payout percentages are even lower: between 80% and 90%.
Ready to Play Yourself?
Well, now you know that most myths about online casinos are simply not true.
Are you ready to take a chance at an online casino?
The online casinos below have been personally tested by CasinoFisher and labeled as very reliable.
These online casinos have a nice welcome bonus for new players. This way you can immediately double your deposit. With this extra money you can try your luck on the table games or on all those fantastic online pokies.