The Key Aspects of Betting Online You Need to Know
Many people mistakenly believe online betting is all about chucking money into their account, wagering on games, and hoping for the best. As it happens, there are a few more things to learn if you want to become a smart, seasoned veteran of the online casino world. Don’t worry; we’re here to help guide you through some of the trickier concepts below.
First and foremost, you must know about wagering requirements. These dictate “how many times” you are going to need to wager bonus money before you can withdraw. They are there to stop you from cashing out the casino’s bonus funds as winnings. It is common for you to wager the bonus total at least twenty times, but sometimes as many as forty times isn’t out of the question. For instance, if you claim a $100 bonus with 20x wagering requirements, you’d need to wager $100 twenty times. In short, you’ll need to bet $2,000 before you can withdraw the bonus.
Understanding volatility (or variance) is important, too. Volatility tells you how often a game pays and what sorts of winnings it dishes out. Also known as risk (or the level of risk), highly volatile games won’t pay very often. However, they can certainly dish out immense winnings when they do. Of course, this means that low variance games pay out nearly all the time, but the winnings, save for occasionally, tend to be on par with or smaller than your stake.
RTP rates aren’t just found in slots. You can also expect to see them in table games. RTP is an abbreviation for Return to Player, and this percentage-based figure tells you how much of each bet made the casino keeps and puts back in for you to win. The RTP is the amount of every bet the casino makes available for players to win, while the house edge is the pure profit the casino takes.
RNGs (random number generators) are effectively algorithms that determine how a game will run. They are used to ensure fairness on each spin or hand. Who checks these, though? Most casinos have their games checked by independent auditors, who will then provide them with a certificate, certifying that their RNGs (and thus, their games) are fair and trustworthy. Look for RNG certificates when you sign up at casinos.
The KYC Process
Finally, we should briefly discuss the KYC process. KYC is an abbreviation of Know Your Customer, and it is the identity verification process that casino players must go through before they can withdraw their winnings. This involves proving your identity, residence, and proof of payment. It takes roughly 24 hours if you provide the right documents the first time and is not an invasion of privacy but an integral part of any casino’s AML (Anti-Money Laundering), identity fraud and underage gambling prevention process.