The share of the legal gambling business takes 60% of the global market with a volume of €45 billion. Top experts predict an increase in the capitalization of the industry to $105 billion by 2025. These are confirmed facts. It’s hard to argue with them. Still, there is a huge number of misconceptions in the gambling industry. So, let’s find out what myths gamblers believe in before they start to play at a casino online.
TOP-8 Myths about in the Gambling Industry
1. The first misconception is about an opportunity to make money online. Many people think that it’s impossible since the market is divided between major players.
This is a subjective statement and fits any sphere. It is quite possible to reach the top with a proper promotion in the gambling industry if you know its rules and laws.
2. The second misconception is that online gambling is difficult.
It seems that this myth was introduced by young businessmen who haven’t studied the market and poorly understand how it functions.
In fact, playing at the casino online and managing this process are much simpler than ordinary accounting programs. The main thing is to have a skilled team of dedicated and talented employees.
3. Most people are sure that online casinos operate illegally.
Strict rules for regulating online casinos have been established in the industry. For example, the US stands as the leader in regulating a gambling activity since separate rules exist in each state. It is incredibly difficult to enter there illegally.
Nowadays, licenses for gambling businesses are issued locally: for the country in which the company operates. It is no longer possible to issue legal documents anywhere on islands. If you want to advance in Britain, it’s necessary to get a British license. And it is almost impossible to launch a “pseudo-casino”.
4. Gambling is closely linked to organized crime.
Major players are often subjected to all kinds of checks. Since high rollers value their name, they are unlikely to take risks of cheating.
5. Online casino is a super profitable business.
Most entrepreneurs believe that gambling will bring billions without much effort and investment. In fact, it’s not. The gambling business requires significant investments (it takes from $150 thousand and up to 20 specialists in a team to launch and promote a casino) and carries a lot of risks;
6. Online gambling is limited to playing at the casino online.
Gambling is commonly referred to as any type of gambling. Bookmakers, lotteries, and poker are also listed in the gambling niche.
7. Gambling platforms always cheat clients.
On the legal market, platforms are based on generating random numbers. Thus, winning or losing is a matter of chance. Game software developers always test slots for honesty and correct operation in special independent laboratories.
8. It’s easy to withdraw bonuses without playing.
It is impossible to withdraw the received bonus to a bank card or an electronic wallet. You can only play it back. The Sign-up bonus is a good chance for beginners to get acquainted with the full functionality and play without the risk of losing. Still, gamblers are allowed to withdraw bonus winnings only after wagering them.
Misconceptions have existed anytime and anywhere. People tend to have different points of view. Still, if you’re interested in gambling and want to try to play at the casino online, do not read myths and avoid listening to skeptical opinions. It is better to try yourself and make your own conclusion. After all, most casinos allow trying games for free, so it is possible to get acquainted with functionalities without risking funds.