The online gambling industry is one of the fastest-growing industries on the planet. From $64.13 billion in 2020, it is expected to grow to $72.02 billion in 2021. A compound annual growth rate (CAGR) of 12.3% is something not many industries can boast. The Covid-19 pandemic had undoubtedly played a role in such explosive growth, but nobody can deny just how popular online gambling is. Even the United States, a stalwart opponent of legalized sports betting nationwide, is considering ending the ban.
Americans spend some $150 billion on illegal gambling each year, and it is far better to legalize and tax those bets than let them go to illegal bookies. However, getting started can be daunting for new players, which is why we have collected a list of tips everyone should know before jumping into the beautiful world of online casino games.
The Learning Curve
Not all online casino games are created equal. Some are easy to learn and even master. Others have a somewhat steeper learning curve, while some have a veritable learning cliff that is extremely hard to overcome, especially if you have little to no experience with them. Online slots are probably the most popular online casino game, and one of the reasons for that is that they are relatively straightforward.
Unlike some other games, you don’t have to use complicated strategies or have an advanced math degree to calculate odds to have a chance of winning. On the other hand, Poker and Blackjack require extensive knowledge not only of the game but of psychology as well, so you can properly gauge your opponents’ intentions. That is why it is probably for the best to stay away from live poker tables and playing against human players, at least until you have a better grasp of the game.
Online Casinos Players Are a Diverse Batch
As the popularity of online gambling continues to rise, more and more people from all over the world are playing at online casinos. It is usual to play Poker with people from Canada, New Zealand, and Vietnam at the same table. The communication may be tricky, especially if not all have good English, but often, that only adds to the fun. Africa was left out of most online activities, gambling included, due to the poor Internet infrastructure, but things have improved dramatically in the last decade.
The best way to illustrate that is to quote Playcasino team: online gambling in South Africa is on the rise, with more than 40 online casinos in operation at the moment. Other countries are following the suits, and online casinos are sprouting all over the continent. The governments of the countries that are lagging are seeing the increased revenue possibility from online gambling and are doing their best to catch up.
House Edge And How to Survive It
You have probably heard the saying, “House always wins.” The reason why this saying is true is because of the house edge. House edge represents the advantage a casino holds over the players in any given game. At first glance, this may sound completely unfair, but it is necessary. Without it, a casino would make no profit with which to pay overhead and would go bankrupt in no time. However, not all games have the same house edge. For example, online slots have a house edge ranging from 3% to 4%. On the other hand, online baccarat has a house edge of 1.24 for players and 1.06% for the banker.
To complicate matters, even more, some games have a variable house edge, which depends on how you play the game. The best example is Blackjack. An average player will face a house edge of between 0.5% to 1%. A less skillful novice will fight against a house edge of 25 and more. True professionals can glide along with a house edge of 0.2%. This makes them independent of Lady Luck and the cards they are dealt, as they can squeeze out a win even under the worst circumstances.
Online Casino Bonuses
One major downside of the popularity of online gambling is that everyone and their grandma are trying to get a piece of the pie. That means that the number of online casinos is skyrocketing, which means fierce competition and a bitter fight for every player. Like every other service industry, casinos have figured out early on that the best way to keep old and attract new customers is to throw money at them. They do it in the form of various bonuses they give to the players.
Depending on the type and the casino in question, they can be quite substantial. For instance, casino.com is known for the generous welcome bonus they dish out to new players. Some other casinos prefer to skip on the welcome bonus and give a matching deposit bonus instead. There are too many bonus types to mention them all, but some of them come with strings attached. Read on to learn about them.
Wagering requirements are a nifty way online casinos have come up with to thwart players from simply collecting a bonus, withdrawing it to their bank account, and moving on to the next casino. Such actions would soon lead to bankruptcy since everybody would take free money and run. Wagering requirements prevent that. They specify how many times a player must wager a bonus before they can withdraw it. For example, a wagering requirement of x10 means that if you have received a $50 bonus, you must make bets in the total amount of $500 before you can transfer the money to your bank.
Again, the exact wagering requirement depends on the type of bonus and the casino you are playing at. Some are relatively modest, while others tend to be quite harsh, with wagering requirements as high as x50. We would recommend staying away from online casinos that have such high demands.