The very first online gambling venues emerged around two decades ago or in the middle 90s.
This was made possible thanks to the advent of the internet that remains one of the most influential innovations of all times.
The internet opened new amazing opportunities for people to connect online, communicate online, look for information online, and have fun online.
Casino gaming has found its way into this virtual world with the very first online casinos operating from Antigua and Barbuda under the Free Trade and Processing Act.
The History of iGaming Venues
Back in the middle 90s, the Caribbean nation of Antigua and Barbuda was able to grant licenses and permits to companies interested in running online casino gaming operations and this marked the beginning of the iGaming industry. Microgaming was one of the very first software providers solely focused on such games to appear in the industry. Microgaming was also the very first fully licensed and regulated iGaming software developer to offer fairness and randomness audited games.
Before the very first online casino was established, Microgaming released the very first functional iGaming software which will later on power some of the earliest online casinos alongside CryptoLogic. While the technology required to run and power these websites had been accessible since the advent of the Internet, the very first iGaming software providers were able to emerge a couple of years later in 1994.
This naturally led to the establishment of major licensing bodies and of course, country-specific regulations and laws which are present to this day including the Malta Gaming Authority, the United Kingdom Gambling Commission, the Curacao Gaming Control Board, and the Kahnawake Gaming Commission among others. The Kahnawake Gaming Commission was the very first regulatory body of this kind to be established in 1996.
Just one year after the Kahnawake Gaming Commission was formed, there were over two hundred online casinos, online sports betting, and online poker sites operational in the industry.
Today, the global casino and online gaming industry is home to thousands of reputable, licensed sites, and many of these cater to Ghanaian gamers as seen here. The global iGaming sector is worth around $66 billion as estimated in 2020 and it is expected to grow to reach $74 billion in 2021 and $158 billion in 2028 at a projected CAGR of 11%. This leads us to the main topic here, the most common stereotypes concerning online casinos.
Common Online Casino Stereotypes
- First stereotype – Online casino games are generally rigged
- Second stereotype – Online gambling activities are illegal
- Third stereotype – Online casinos are not secure
The most Common Stereotype, Online Casino Games are Rigged
There are many stereotypes and myths related to the online casino gaming industry but the most common is that the games are rigged and that it is impossible to win. When playing at a renowned, licensed website, no games are rigged in any way. Since iGaming venues need to make money to stay operational, all games have a casino edge that caters to them. Nonetheless, this does not mean that they are rigged, that the odds are against you, and that you cannot win.
Every game except live dealer games run on Random Number Generators (RNGs) and this is what gives every single player the same payback percentage alongside the same winning odds or the same chance to win. At renowned online casinos, RNGs are regularly audited for fairness and randomness so thinking that these games are rigged has nothing to do with the reality. With RNG audited games, every spin is an isolated, random event and nobody knows when a big win will come.
Many gamers believe that the operators somehow affect the game results. Once again, this is not true when playing at a licensed venue. Licensed online casinos have rules and regulations to follow and they cannot do whatever they want. Secondly, no licensed operator would risk their reputation and business by offering any kind of rigged games.
Many Believe Online Gambling is Illegal
In addition to the previously mentioned, another common stereotype is that online gambling is illegal in all or some forms.
While smoking marijuana or other adult activities may be illegal in some places, online gambling is not illegal. In many parts of the world, various forms of gambling including online casino gaming are one hundred percent regulated and legal. While there are some places where such laws and regulations are not in place or are not as clear as they should be, engaging in such gaming activities in many countries is not illegal.
At the same time, it is illegal to start an online casino or a gambling site without having the required permit and license to do so.
Many also believe that online casinos are illegal scams and while this may be true for some unlicensed, unregulated iGaming venues, those that are regulated by prominent regulatory bodies such as the Malta Gaming Authority and the United Kingdom Gambling Commission are always worth checking out.
Common Stereotype, Online Casinos are Not Secure
Many gamers worry about their personal information being at risk when playing online casino games and these concerns generally stem from the common stereotype that the sites are not secure.
Many players also worry that their funds can get stolen once they make a deposit and once again, this has nothing to do with reality.
The reality is that the most renowned, most reliable, fully licensed, and regulated operators are also the most secure sites you will come across online.
All renowned online casinos use the very best, the most protective security technology including military-grade encryption technologies which make it impossible for anyone to steal your personal information or get ahold of your hard-earned money.
In all fairness, not all venues out there employ the best encryption technology to protect your personal information and your funds but those that are licensed and regulated are one hundred percent secure.