Protecting Your Finances When Gambling Online

Gambling in the 21st century has never been easier due to the rise and popularity of online casinos and poker games. With the majority of the western world having a mobile phone, or at the very least a computer, gambling has never been a more accessible and convenient pastime. 

With games such as roulette, blackjack, slot machines and poker, all available to be accessed in the palm of your hands, the draw and potential of winning big can really attract a considerable amount of people, in fact, 33.6 million people were gambling online a year in Great Britain alone, meaning that this industry has captivated the imagination and sucked in a wide array of people. 

However, before you get tempted to risk it all on red or black, it’s essential to know that online gambling can be dangerous for your finances. If gone unchecked and unmonitored, the addictive nature of these games can and has led people to bankruptcy, as they become reliant of the thrill of a win and chase that. Thankfully, in recent years, a lot of online casino’s and bookmakers have put in various safety measures to protect you and the most vulnerable, and your money when playing. 

Thankfully there are websites that analysis all these features and ranks Real Money Online Casinos by these safety features, as well as their overall quality, to make sure you play at the most responsible websites. But what are these safety features in place to protect people’s finances, read on to find out. 

Deposit Limits

This is one of the main features found in virtually all reputable online casinos, that’s implemented to help protect the player. These restrictions will limit the amount of money an individual can deposit and withdraw within a set period, meaning that you won’t be able to bet your entire bank account in one sitting. 

It’s also a protective measure from potential hackers. As these casinos hold your card details, it’s an attractive destination for cybercriminals to gain this information. If they do manage to get through an online casino’s rigorous security measures, then at least with this feature they’re unable to clear your finances out entirely at one go. 

License Holders

Much like in the real world, casinos need a license to operate online to be legal and considered safe, so ensure that a license is fully displayed on the website you’re playing on. By having a license, it proves that the casino has put in the required measures to keep your deposited money safe. This is because a license dictates that a casino needs to have a ‘segregated fund’ separate from the rest of the player’s money. This means that there’s always money available to pay back out and ensure that no winnings are ever made up of other players bankrolls. 

Log-In Authentication

For the majority of online casinos, it’s impossible to access them without going through a secure and rigorous log-in portal. Most sites use a secure username and password scheme, to make sure it’s only you that’s accessing your account and your finances. Still, on some compatible devices, they’ll also have a fingerprint or face scan for extra security. There will also be additional security questions for when a password is suspected to be compromised, adding an additional layer to your account. 

Furthermore, when registering your account for the first time, most casinos require proof of ID, to confirm you are who you say you are, to combat fraud. It’s also done to ensure that there’s no underage gambling, which is growing into a huge problem of its own. 

Data Encryption

The majority of online casinos use some form of data encryption to make your personal data, such as bank account numbers and card details impossible to read and decipher by cybercriminals. The most commonly used type of encryption is the Secure Socket Layer, better known as SSL. It uses the most up-to-date data scrambling technology to secure information transfer, which aids in keeping your data and therefore finances safe.

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