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Don’t be Taken in by These Common Casino Scams

| November 21, 2022, 06:00 PM

Every year, people gamble hundreds of billions of dollars online in an industry that generates annual revenue amounting to more than $50 billion per annum. Like any online industry that involves financial transactions, the online gambling sector inevitably attracts its share of scammers and fraudsters.

Here, we lift the lid on some of the most common scams and how to ensure you don’t become another statistic.

Fake slot games and jackpots

Casino scammers offer unfair games that pay out little or nothing. Some have a jackpot that is entirely fictitious. In contrast, others pay out only tiny amounts such that the RTP is utterly ridiculous, like 20 percent (real slot games offer a return of around 96 percent).

Disappearing bonuses

We all like something for nothing, and some fabulous casino bonuses are out there. Some of them look too good to be true, while others are too good to be true. A disreputable casino will tempt you in through the doors offering something like a $100 no-deposit bonus with no wagering requirement. When you try to claim it, however, the bonus either doesn’t exist or is not as good as it sounded in terms of the deposit you have to make or the wagering requirement on the bonus.

Slow payouts

Some casino scammers take longer to reveal their true colors. They seem to operate a legitimate online casino until you try to withdraw your winnings. At this point, things go wrong; either the casino takes days to part with any money or doesn’t.

Ludicrous wagering requirements

This is a variation on the disappearing bonus scam. The casino will provide the bonus cash or free spins but will place such outrageous limits and conditions on it that winning real money is practically impossible. For example, there might be a wagering requirement of 100x and then, just in case you somehow beat that, a $50 withdrawal limit to act as a backstop.

The fake casino

It sounds like something from a movie, but the point is this – it is far easier to set up a fake casino in cyberspace than in the real world. This scam has all the subtlety of a brick in that the fake casino takes the money that players deposit and then keeps it, shutting down the site and vanishing without a trace.

Protect yourself

The good news is that the online casino industry is strictly regulated, so as long as you use a reputable casino licensed by a competent authority, you will be protected from these kinds of opportunistic scams. Gamble Online is an independent reviewer that provides a list of safe gambling sites, so that’s an ideal place to start.

If you are doing your research, always check the licensing information, which should be prominently displayed on the home page. Also, don’t believe curated reviews on the casino site itself. Always check independent review sites to be sure of an impartial opinion.

Category: NEWS

About the Author - Stephanie Maris

Stefanie is a local blogger and social media content marketer from Maryland and most recently a wife and a mother. She has an unhealthy obsession with puns, sarcasm and caffeinated beverages.

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