The concept of risking your money on events with outcomes ultimately out of our control for an enticing reward in gambling has existed for centuries due to the thrill (and possible rewards) it provides. With time, we have made this activity more accessible from only being available in physical locations to being available to everyone on the internet.
But has this accessibility created more problems than solutions for people who like to gamble? In this article, we are going to discuss the arguments in favour of and against online gambling.
Why Online Gambling Should Be Banned
Now we will provide a list of reasons that suggests there may be reasons to ban gambling or at least regulate it more diligently.
Accessible to Problem Gamblers
Online and mobile gambling is easily accessible to anyone. This also includes problem gamblers. Problem gamblers are individuals that get so engrossed in gambling that it is difficult for them to stay away from it. They display unhealthy behaviour such as continuously planning how to obtain more money, trying to control their gambling habits but failing, and feeling irritable when cutting back on gambling. Constant easy access to i-gambling does not help the case of problem gamblers, in fact, it can further exacerbate their problem gambling habits. Another point to be mentioned is the diminished perception of the value of money which causes problem gamblers to forget that they are using actual money to gamble.
However, this issue can be dealt with responsibly. Many reputable gambling sites offer responsible gambling options as well as advice on gambling safely. They even offer options that can help individuals fearing they might develop such problems, take a break or cut back on gambling.
Slow Fiat Payouts
One of the biggest drawbacks of online gambling when compared to gambling in a physical location, is the processing time for your withdrawals and long KYC procedures. It can be time-consuming to convert your online earnings to your local currency. In addition to the regulatory procedures (e.g., KYC and AML), online gambling sites take additional time to review your withdrawals. These procedures might make your online transactions more secure but they could also be a cause of frustration for people who want instant cashouts.
It can take a few days to process the winnings to your account depending on the country or region you live in and the website or application that you're using. However, most of the well-known websites do not typically make you wait too long to make your withdrawals. You also might have to use one of their partnered payment service providers or an E-wallet like PayPal or Neteller to get your funds within 24 hours. Some sports betting sites promise quicker payouts but these are often for existing, well-known customers.
Susceptible to Scams
Some suspicious operations have scammed their bettors out of their money. Normally, these are newer websites that have just recently been established. These types of websites do not have any kind of developed reputation, and they also do not provide security protocols found on other, more established betting websites.
To avoid such situations, it is best that you, as a bettor, are verified before you deposit any funds or reveal any sort of sensitive information on a casino site. There are several websites built especially for verifying the security of gambling websites. It is also crucial to ensure that your relevant security protocols are in place in order to help secure your money.
As long as you remain vigilant and careful when it comes to potential scams in internet gambling, you can avoid being scammed by doing a bit of research.
Lack Of Immersion
The thrill offered by online gambling may seem appealing to most, but the downside to a lot of them is there is a highly noticeable lack of immersion. This includes the lights and sounds of the gambling floor or lack thereof. Players in certain games may not be able to see the results play out in front of them otherwise seen during table games. This lack of immersion can lead to gamblers becoming disengaged since many online casino or table games often look cartoonish or two-dimensional. This is due to the fact that they are rendered with computer-generated graphics. The ambiance created by a live environment as well as the direct experience that gamblers can undergo often offer all the more exciting, especially if they end up winning.
Missing Out on Tourist Attractions
Since iGaming is, as its name suggests, strictly online, players may miss out on the chance to see the tourist attractions and landmarks situated near casinos. Take the Wynn Las Vegas hotel as an example which also happens to be a casino resort. Other examples include the Las Vegas Strip and the Bellagio Resort and Casino. Online gamblers may be missing out on some very interesting experiences if they stick to just gambling online. Experiences like flashing lights, cheering, colorful surroundings cannot be imitated the same way in an online environment.
This, however, also depends on the gambler's preference as many gamblers may not be as outgoing as others. Many individuals prefer to stay indoors in their own private spaces. Additionally, the type of incentives offered by online casino and betting sites cannot be replaced by live experiences, thrilling as they may be. Internet and mobile gambling also tends to adapt to all kinds of budgets.
Opportunities for Money Laundering
The only casino and betting industry comprises large volumes of transactions that allow money launderers to disguise their money laundering activities. Online gambling offers an opportunity for money launderers and crooks to launder money. By channeling illegally acquired money through a gambling platform, such individuals are given the chance to hide the origin of the illegal money. How this is done is the money launderer signs up for a gambling account, verifying their identity and their bank account information. Once this is done, they can add money to the gambling account through multiple modes of payment. Besides this method, a lot of other modes of payment are also available. These include credit plus debit cards, digital currencies, prepaid cards, and checks. The funds are deposited into the gambling account and when they are paid out, they are automatically legal. This is one of the numerous ways money launderers can take advantage of online gambling for their own benefits.
Why Should Online Gambling Not Get Banned
Having gone through some of the negative aspects associated with gambling it is also important now to focus on the positives. Here is a list of some of the important positive aspects of gambling.
Perhaps the biggest advantage of gambling online is the ease of access it provides to players. Online casinos are designed to provide players with a convenient way to partake in poker cash games and tournaments, jackpot slot machines, blackjack, roulette, craps, baccarat, and many more games all from the comfort of their homes. In fact, online and mobile gambling allows players to join the tables from any location at any time. Some online casinos have even launched mobile apps that are specifically tailored to be compatible with each respective device. Gambling websites never shut down so you can also bet any time you want with the freedom they provide. These apps aim to provide a home experience to players without visiting the nearest casino physically.
Thanks to an online gambling account, there is no need to worry about not making it to the bookmakers on time to place a bet before the game you choose to bet on begins. You also do not have to be concerned about having to secure a spot at your preferred casino game, among other things. You can gamble using multiple different devices, the only thing needed is internet access as well as an account with the gambling site of your choosing.
A large number of gambling websites accommodate all kinds of budgets, no matter how low or how high. You can choose to deposit funds as low as 10 USD and as much as 7,000 USD. There is a vast range of stakes as well and you do not have to worry about having to spend much money if you do not want to. At the same time, high rollers can choose to wager as much money as they want.
This is particularly important for casino players as the total range of stakes you can play for in numerous casinos (land-based) is significantly smaller. What this means is that some gamblers have to play stakes lower compared to their preference, and some have to play for stakes slightly higher than their preferred stakes.
Wide-Range of Games Available
When you walk into the world of online gambling, you will find that there are thousands of options on numerous sites to choose from. Online casinos offer hundreds of slot machines, dozens of table games among other thrilling RNG games that you can enjoy while gambling online. Online casinos also have exclusive games or features that are not available for their land-based counterparts. Separate categories of games and a filter option also exist to assist players in finding the right game for themselves.
Out of all of the advantages that online gambling as a whole has to offer for gamblers, the expansive range of game offerings has to be at the very top of the list. If you are not able to find the game you wish to play, you are either not looking hard enough, or such a game does not exist.
Use of Cryptocurrencies
Crypto casinos have gained a lot of popularity these days due to the convenience they provide in terms of being able to make crypto deposits and withdrawals with a high level of anonymity.
Numerous bettors that gamble online are acquainted with using numerous digital currencies when placing bets on casino games or in sports. Aside from being able to use regular banking methods, you can choose cryptocurrency now as well. The core advantage of gambling online using cryptocurrencies is the impressively high level of security and anonymity that allows online gamblers to keep their activity private.
Gambling sites have their own coins as well, such as Monero which happens to be one of the most favoured crypto gambling currencies. Digital currencies let their owners share as well as transact confidential data without being concerned about potentially being hacked. This goes to show that crypto gambling is just beginning its journey as blockchain technology offers the safest possible online transactions.
Bonuses and Promos
Online casinos provide unique perks that are not usually available on land-based casinos. A wide variety of online gambling sites offer their consumers a wide range of incentives in return for conducting their gambling and betting activities with them. More or less, all of them provide new users with welcome deposit bonuses. Welcome bonuses are, in essence, additional funds added to your account when you choose to sign up to a gambling site and make your initial deposit. Most of the sites provide added bonuses and rewards too, and these are normally through loyalty schemes.
Such bonuses and rewards are a great benefit to gambling online, especially for individuals who play and bet on a more regular basis. These bonuses and such basic aid in increasing your money, and in some cases, they can even bridge the gap between completely losing funds and winning.
Connection With Online Communities
Contrary to what one might believe, gambling online is far from a lonely experience and the social benefits of online gambling are as real as they can get. Online communities exist for players as forums for gambling discussions where players can share gambling tips and strategies. Players can also discuss gambling-related issues with others from around the world. Players can also learn more about the rules of games from veteran players through message boards, and chat threads. According to experts, online gaming of all sorts does not only promote psychological benefits but also promotes feelings of community.
While the gambling sessions themselves may seem a bit quiet, the gambling online communities make up for that lack of socialization that you would get in a physical location. These online communities are where players can make connections with other gamblers and even start new friendships.
Despite a few setbacks, gambling online and on mobile offers a wonderful opportunity to players wanting to learn more about how gambling works without the awkwardness and pressure of random strangers watching. If you have not given online gambling a chance, it is definitely worth checking out a few casinos.
This article was published on September 14, 2021, and last updated on September 8, 2021.