Adequate risk assessment is a key aspect of effective real money gambling. You need to know what risks you’re taking and how you can reduce them. The gambling industry is increasingly moving to the virtual world. Online casinos definitely dominate over stationary gaming houses, offering more slots, live games, bonuses, and much greater convenience.о
However, e-gambling for money can also be difficult for players, as many different factors need to be taken into account to accurately assess the risk. Of course, you can play online casino for real money without any prior risk analysis, without factual knowledge, and without prior preparation. With a lot of luck, such an approach can even result in a win. However, this is not a rational approach, and in the vast majority of cases its consequences are unfavorable.
So how do you estimate the risk in online casinos, and what is the most important thing in this regard? This is what we will address in our short article. Read on and learn the most important information.
E-gambling: casino license, reputation, and secure payments
Unfortunately, playing at online casinos that do not have a gambling license or any e-gambling certification almost always involves huge risks. Let’s be honest: although the online gambling industry is developing really dynamically, a gray area in the e-gambling market still exists. These are casinos that:
● Operate without any license
● Operate under a low-quality gambling license (which does not guarantee anything)
● Have a license that is not active
Playing at one of these casinos involves a huge risk and a very high probability of losing money. It may be that a site simply refuses to pay out winnings or blocks a player’s account for no reason. In the past, there were also cases where unlicensed online casinos suddenly “disappeared” from the market, taking users’ deposits and winnings with them.
RTP and House Edge in online casino offers
Another very important issue that determines the level of risk in the game, but this time it is not directly related to safety. Remember that some types of slots and table games are riskier. This means that when playing them, you are statistically more likely to lose a large part of your capital. Always check two key parameters before choosing a real money game:
● Return To Player: the popular RTP factor, which tells you the statistical solvency of a particular slot. Gambling machines that have an RTP of at least 96% are considered less risky. The risk is also lower when a slot has a low or medium volatility parameter.
● House Edge: a parameter that determines how much statistical advantage the casino has over a player when it comes to table games. Variations of poker, roulette, baccarat, or blackjack, in which the House Edge is unfavorable to the player, are also considered much riskier.
As a casino player, you are very lucky. Why? Because in table games and especially in slots, statistical solvency can be determined quite precisely. The same cannot be said for other forms of gambling, such as betting on horse racing or football matches.
There is one more important and useful piece of information. Most gambling games can be tested in free demos, and only later played for real money. This is the best way to assess whether the chosen slot is profitable and how risky the game is.
Last but not least: responsible gambling rules that you should follow
Yes, responsible casino gambling is one of the fundamental aspects. Uncontrolled gambling in casinos (online or offline) without reasonable restrictions is, unfortunately, usually the first step to serious problems that can end in a financial disaster.
The best thing you can do is to thoroughly familiarize yourself with the main principles of responsible gambling on one of the professional websites that deal with this topic. Gamblers Anonymous, for example, can be a great source of knowledge. You need to know how to control your gambling. You should also be able to notice any disturbing signals that may indicate that gambling has become a problem for you.
A key factor is to set gaming limits. Always set the number of sessions per week and the duration of each session: for example, once a week, on Wednesday, for 120 minutes. It’s also a good idea to set gaming limits. First: a deposit limit, e.g. you can deposit a maximum of €800 in one session. Also, set an acceptable percentage of losses during the game. If your balance falls by more than 40% of your initial capital, for example, you walk away from the table. Setting such rules will greatly help reduce risks associated with gambling and contribute to safer play.