To assess online gambling frauds, we start with the definition of gambling. Gambling is defined as an act or practice of taking a sum of money; throwing dice; casting lots; spinning a wheel; drawing cards; etc., in order to win money or other prizes. This act can be done either in person with other individuals or anonymously through the internet with other individuals.
The act of gambling online is considered an illegal act that is punishable by law if the individual broke certain gambling laws, but some individuals are ignorant of these laws. The blog post will focus on misconceptions concerning online gambling and tips to minimize the risk of being defrauded. The misconception that many individuals have is that there are no risks involved with online gambling, but after you read this article you’ll have a chance to learn different types of risks.
Online Gambling Frauds #1 House Always Wins At the End
Online gambling has been a controversial topic for a long time. There are different opinions on whether it should be legalized or not.
The moment you decide to play with real money, the odds of winning shift towards the house. The house always makes a profit from your losses because that is how they earn their living. This is why you should never gamble with more than you can afford to lose as it can lead to irreversible losses and depression.
Online Gambling Frauds #2 Bots in Online Casinos
Casinos are using bots to beat you! It’s true. Make sure to find out the history behind the bot before you start viewing it as an ally. The history of the bots is that they used to be used for entertainment purposes. “What’s the difference?” one might say. Well, for one, now that the bot is being used for casino purposes, its AI can be programmed to deceive people by playing on human quirks. All of the old problems with bots, like building up fake accounts for fake promotions, are very much still problems.
Online frauds are becoming very common with the increase in internet fraud. Bots are one of the most insidious forms of fraud, making it hard to differentiate between playing online multiplayer games and playing with bots.
Bots are designed and trained to play with you and they are very difficult to beat. That’s why you almost always lose!
Online Gambling Frauds #3 Illegal Online Gambling
Many countries have outdated laws when it comes to online gaming fraud. They are not taking into account the new techniques that scammers are using to take advantage of people’s naivety.
We should not be naive when it comes to these scams. The world is moving at a fast pace and so are the scammers who use new techniques to scam people out of their money.
Even such online gambling sites may work honestly -Believe me, it is not the common situation!-, it is possible that the operators of such sites can get busted. This will result in a loss in all of your earnings on the site.
Online Gambling Frauds #4 Identity Theft
Many people take advantage of the convenience of online gambling to enjoy a few rounds of poker or take a virtual drive on a slot machine without leaving home. This convenience can come with risks such as identity theft.
Personal information such as credit card numbers and addresses can be stolen by other players and used to make purchases without permission. If you plan to visit online casinos, it is important to take precautions such as using a credit card to fund your account and doing transactions over a secure connection. You should also keep your computer and web browser free from malware and spyware, and regularly scan your machine for viruses.
#5 Stolen Funds
An article published in 2019 by The Economist highlights the role that identity theft plays in online gambling. The article states that in 2016 alone, $5 billion worth of funds in the United States were stolen in the form of seemingly legitimate gambling-related transactions in which the gambler’s identity was stolen and the funds transferred to the thief. The article also states that in 2018, more than $1 billion in funds was stolen from unsuspecting victims by criminals posing as gambling operators.
How to Avoid Such Frauds? Try Duelit!
It is human nature to try and get the most out of everything. We want to get more than we put in. And when it comes to online gaming, it is no different. There are many fun aspects of online gaming that people enjoy such as betting, winning, and playing with friends or other gamers. However, these aspects can sometimes be taken away by some online gaming frauds which take away the fun aspect and turn it into a nightmare for players and their loved ones.
Some of the most common scams include phishing scams, credit card frauds, identity theft, and so on. It can be difficult to spot these scams because they often use complex coding techniques. The human eye alone can not detect such techniques.
We offer you an alternative to online gambling. Duelit is a popular skill gaming platform that has already paid more than $650,000 to the winners via PayPal.
The platform’s idea is to create an environment safe and secure, where all you do is have fun and that also in very little time and earn cash prizes. In this platform, you only play against real players, so the house always wins rules is not applicable here. AI technology monitors games and detects impossible scores instantly. The concept of fraud does not exist on this platform, so you can enjoy gaming without the risks.