The best real money online casinos generated 9% of the gambling industry’s profit in 2015 (423$ billion), which is a relatively small part compared to the 30% revenue generated by lotteries, but it is still a huge sum of money when you look at the big picture.
We decided to create this page and help you learn more about online casinos and their role in the gambling industry. That includes showing you how online casinos work, what they are, and other useful tips regarding the legal side of things when it comes to traditional and online casinos. We recommend you to check our review section for the best real money online casinos.
What is an Online Casino?
At the online casino, you can use real money to play a wide variety of games. When most people here about an online casino, they think mainly of games like slots and blackjack, but in our article, we will include things like poker and any similar games where you compete against other people. Our examples include games like video poker, bingo, and slot machines. Keep updated with our site for more of the best real money online casinos.
If you want to participate in gambling, then you have to risk something valuable. However, there are websites which have free games where you cannot lose or win anything. We will not be including them in this article. A significant portion of online casinos have free editions of the games, but you can also play them for real money if you want to.
Most of the time, there are not any huge differences between most of the casinos because they have the same owner or use the same software. The only thing that is different is their branding which is the layout of the website. On rare occasions, you may find different bonuses, but if the owner is the same, most of the functions on the casinos will also be similar.
How Best Real Money Online Casinos Function?
Most internet casinos will have classic games like slots and blackjack which are powered by different software or created by the casino themselves. The computer program used to run those games is a random number generator.
As you probably guessed by its name, the RNG is used to create millions of numbers, and when you place a bet, the generator stops, and you see the number which is equal to the outcome. This technology is not new and has been used since quite a long time at casinos where it served its purpose of powering slots and video poker games. You can even say that the roulette, dice, or deck of cards is a simpler version of an RNG.
Let us take the slots for example – you do not know what the odds are, so the player cannot calculate the probability of a win, but the casino certainly can.
The money you can win on each bet during an extended period is called a payback percentage. If this proportion is 50%, this does not mean that you win 50 cents per dollar wagered because that is not exciting.
The best real money online casinos offer bigger wins which rarely happen, alongside smaller wins which occur more frequently. That way, the casino will still earn 50 cents per each wagered dollar, but the player can win more money at once, although not so frequently.
When you have a game where the odds for a particular outcome are known, then more intelligent players can calculate what the payback percentage is. You can quickly calculate the probability of getting an 8 or 12 when throwing a pair of dice, or the likelihood of the ball landing on black when playing roulette.
Let’s say that you are playing craps at a reputable website; the odds of you rolling 8 or 12 are the same as if you are using real dice. That is because quality casinos have the ability to do so. The same applies to other games like blackjack.
Unfortunately, there are always casinos which are not so honorable about these things, so they decide the probability of winning at these games with a random number generator. The reason why they do that is that if they use the real odds, it will change the payback percentage too much in favor of the customer.
However, these actions are not illegal, considering that you know that there is a difference. There is always a house edge for the casino, so they do not need to rig games in order to win money.
Of course, that does not mean that there are not any casinos that have rigged software. There was a case of a video poker player who never had a playing hand during hundreds of hands, which is highly improbable.
Luckily, situations like that become well-known pretty quick among other punters, and websites who participate in fraudulent activities do not last very long. They will probably win some money, but this strategy is unsustainable in the long run, and a casino which focuses on keeping its customers happy will most likely make a bigger profit.
If you want to bet at an online casino, the first thing you need to do is create an account. That means you will have to enter your personal information such as name, phone number, and address. We recommend you to check our review section for the best real money online casinos.
Making a Deposit
Creating an account will be enough if you are looking to play some of the free games that the online casino offers, however, you will need to make a deposit in order to play using real money. That can be done via a credit card, although sometimes credit card companies simply won’t accept your deposit. That is very common for countries like the USA where online gambling is illegal and most banks will not allow you to make a deposit at a betting website.
Of course, there are other options such as using an e-check (the electronic version of a standard check), an e-Wallet, or cash transfer services such as Moneygram or Wester Union. If you still cannot deposit money into an online casino, we recommend asking their customer support team to assist you. Another alternative is to go to our “deposits” section where we have a list of different deposit methods. Keep updated with our site for more of the best real money online casinos.
Free vs. Real Money Casinos
If you made it this far into the article then you probably already know that there are free casinos which do not make you spend money. These casinos also offer real money games because they want to make a profit, but you still get to test the games for free and see whether you like them or not.
Of course, not all games at an online casino have a free version, for example, progressive jackpot slots. You will very rarely find a free version of this game in online casinos.
Some websites have only free games like baccarat and blackjack, but no slot machines. The way these sites make a profit is by advertising different things to the visitors because a lot of people use free casino websites, and it is a good way to showcase your product.
Most people use free casinos to practice their skills at the games and learn more about them before they start using real money. Other simply do not have enough funds to bet at real money casinos, but still want to participate in gambling or simply entertain themselves. Many people think that slots are boring when money is not involved, but others enjoy them very much.
However, we think that the best way to enjoy gambling is to use real money, regardless of whether the amount is big or small. Otherwise, you are only watching a computer simulation with nothing at stake. We recommend you to check our review section for the best real money online casinos.
Online vs. Brick and Mortar Casinos
Nowadays, there are not so many brick and mortar casinos, but the ones who are still standing are relatively large. Online casinos have its positives and negatives, but it continues to grow bigger and bigger. Here are the main differences between these two casino types:
If you decide to use an online casino, you do not need to leave your house at all. Usually, it is quite a hassle to find a brick and mortar casino, but thanks to online gambling, you can simply bet from your computer or personal mobile device in your pajamas without anyone knowing.
Interaction with others
At online casinos, you do not need to interact with anyone, so it is a perfect solution for introverts. On the other hand, extroverted people will probably find the company at brick and mortar casinos more enjoyable. It depends on what kind of person you are.
Perks and bonuses
There are many things you can get for free at a brick and mortar casino, for example, meals, drinks, and show tickets. Keep in mind that the casino owns all tickets for the show, so it does not cost them anything to give the remaining ones for free. At an online casino you can only get free money in the form of a bonus, so again, it depends on what your preferences are.
Understanding of the different games
Games at the best real money online casinos function similarly, although there are some exceptions. There is no way to count cards at online blackjack because the computer shuffles the cards at the end of each hand.
Some people think they can change the outcome of the dice when playing craps, but that is impossible if you decide to use an online casino because the whole process of throwing the dice is automated.
However, when playing games where the player factor is not so important, there is no difference between online or brick and mortar casinos.
Most of the time, you will find lower betting limits at online casinos than at brick and mortar ones. However, there are some exceptions for high rollers at big websites like Bovada.
If you are looking to wager a large sum of money, then your best bet would be a Vegas type brick and mortar casino (this does not necessarily mean that the casino should be located in Las Vegas). Keep updated with our site for more of the best real money online casinos.
Promotions and Bonuses at Online Casinos
This is probably the biggest difference between land-based and online casinos. Casino bonuses are usually a way for the website to attract new customers by offering free chips or money which can be gambled.
The most common form of a welcome bonus is the 100% deposit match which can go up to 1000$. That way, when you make an account at their site and deposit 1000$, you get double of that amount, which means you will have 2000$ at your disposal.
Some brick and mortar casinos also have similar bonuses, but the scale is much smaller. On the other hand, this is a relatively common practice for online casinos, and nowadays almost every casino has promotions in order to attract new users.
There are websites which do not offer a deposit bonus, but rather a free amount of money (maximum 25$) which can be used for slots and similar games. This is an excellent bonus for people who do not want to make a deposit to receive additional funds.
Keep in mind that there are always rollover requirements which will force you to play through your bonus and deposit a couple of times before you can make a withdrawal. That way they can use the house edge to lower the amount of your bonus, and you cannot simply create a new account and then run away with the money.
There are other requirements, for example, you can play only specific games which will be counted towards the rollover requirements. Let’s use the example where you deposit 1000$ and receive 2000$ back thanks to the bonus. If the wagering requirement is 20X, this means that you must wager 40000$ before being able to cash out.
Most of the best real money online casinos will restrict the bonus only to slot machines, so we will use them as an example. The house edge can be any number, but the standard is usually 25%. The payback percentage used for this example will be 75%.
If you wager 2$ per spin, you will need to make 20000 spins before reaching 40000$. The average number of spins made in an hour by punters is 600, so you can calculate the estimated time in which you can rollover the money. However, the casino will probably keep 25% due to the edge, which equals to 10000$. That is way more than what you will have in your account, so you can see how the odds are stacked against you.
If the casino decides to count wagers made on blackjack towards the rollover requirements, then the player which uses a core strategy will have to go against a 1% house edge. In our case, the casino will take only 400$, so you are left with a profit of 1600$, which is not bad at all. That is why casinos only allow slots to be counted towards the play through requirement.
In the early days of online casino gambling, the requirements were not so strict, and many players could take advantage of that, but now things have changed drastically. These bonuses are great if you want to play more of your favorite games, but when it comes to winning money, your chances are not so high, especially when the house edge is so significant. We recommend you to check our review section for the best real money online casinos.
What Kind of People Gamble at Real Money Online Casinos?
You will find that there is a wide variety amongst the gamblers who play in real money online casino. That is because everyone wants to make some money.
There are blackjack players who embrace the challenge of making a right decision, and considering that the house edge is very low there, they have a good chance of making a profit. The same can be said about video poker.
Slot machine players usually play in order to get a big score, and they are similar to lottery players. It all comes to the character of the particular player.
Regardless of the game, you are playing, everyone wants to make a profit. Even though most people know that the odds are against them, they continue to gamble. After all, one of the primary goals in gambling is to have fun and enjoy the experience.
However, in gambling, there is always the risk of becoming addicted to it. According to researchers, betting stimulates parts of the brain that are also stimulated when using drugs.
For people who have problems with controlling themselves or are easily addicted, online gambling may not be the best free time activity.
The right way to think about betting is to view it as an entertainment form, which means that you need to pay for it with money. Punters who do that know that it is tough to win in the long run, so they only spend money they can afford to lose. It is not a smart decision to use the money you need for rent and hope to make a profit when gambling with them.
You need to know yourself and your habits very well before diving into online casino betting. Keep updated with our site for more of the best real money online casinos.
Definition of Casino Games
Games like poker do not count towards the casino games category, even though it is still a gambling form. The main reason for this is because you play against other people and not against the house. The casino profits from taking a small amount of each pot.
Sports betting also is not considered a casino game, even though you play against the house. In this case, bookies pay off the winners by using the money from the losers and the remaining amount is their profit.
House edge is not difficult to understand for most punters. Let’s take roulette as an example. The American version has 38 numbers, 18 of them black, 18 are red, and two are green.
If you bet on red or black, the odds offered by the casino are even, but the odds of winning are not. You will win 18 times out of 38, and that is exactly how the casino makes a profit.
However, house edge applies only to a large number of spins, which means that you need to be playing regularly for the figures to be correct.
If you are playing from time to time, there is a chance that you can upset the odds and win a lot of money. Still, it is very difficult to make an income from being a professional punter.
Is online Casino Betting Legal?
Running an online casino is considered as illegal in the US; However, some states (Delaware, New Jersey, and Nevada) are exceptions to this. You still need to obtain a license, which is not cheap or easy to get.
According to federal law, banks are not allowed to transfer money for illegal gambling activities, and this created the misunderstanding that online gambling itself is illegal.
The federal law itself does not apply to online casino gambling, but states have made the whole thing illegal. With this in mind, most people would ask the question: “How likely is it that someone will be prosecuted for this?”
We would recommend that our readers from the United States follow the laws because there are no guarantees that they will not get prosecuted, although most of the times law enforcement targets the provider.
You will find that the laws are much clearer in other countries like the United Kingdom, where gambling is legal. The laws protect the customers there so that they feel safe when dealing with betting websites. We recommend you to check our review section for the best real money online casinos.
Reviews of Online Casinos
There are many sites on the internet which will offer you reviews of different online casinos, but most of them are only looking to receive a commission after you sign up for a website, so they make all of their reviews sound incredibly optimistic.
We like to pride ourselves on the fact that our reviews are unbiased and informative. We try to show both the positives and negatives of a betting website by providing you with a detailed review. That is why you need to be careful when researching information about a gambling site.
Another thing you should pay attention to is the rating scale because some websites purposely put high ratings for all websites so that you are more inclined to sign up with them. It is always worth it to spend a little more time researching before signing up for a betting website. Keep updated with our site for more of the best real money online casinos.