Online Casino 101
Are you planning on signing up to an online casino for the first time? The world of online gaming can be both overwhelming and perplexing, particularly for newbies. Therefore we’ve put together this beginner’s guide to make starting at an online casino super easy. This guide will give new players a look into the basic rules and terminology of online gambling. It will surely answer many questions in your head as you begin your journey as an online gamer!
Return to Player (RTP)
If you are looking into becoming a member of an online casino, you may have already come across the term RTP. RTP stands for Return to Player, and it is something that both land-based and online casino players are concerned about because it affects their winnings.
What is RTP?
RTP refers to the percentage of all the wagered money that will be paid back to gamers over time. The higher the RTP, the more frequent a player will win.
Let’s say you’ve made 100 £1 bets on a game with an RTP of 95%. You will be expecting to receive about £95 in winnings. However, we must note that RTP is calculated over the long term. Since anything can happen in a short period, only wager money you can afford to lose!
Shall I Stick with Games with High RTP?
Although the result of a casino game is pretty much unpredictable, it’s still a good idea to go for games with a high RTP because it represents a higher chance of winning. Opting for games with lower RTP means you will have a lower chance of winning back.
All casino bonuses come with special terms, and one of them is called wagering requirements, which are the number of times you have to wager your bonus before you are allowed to cash out. Head over here for a detailed explanation of what wagering requirements are and why they are in place.
Source of Funds
Before you withdraw your jaw-dropping winnings, you will be asked to present evidence declaring the origin of your funds. It is a legal requirement for online casinos to ask players where their funds come from to minimise fraud and money laundering. Operators can either do this by verifying players’ funds when they sign up to the casino, or when a player deposits, spends or win £2,000 or more.
Proof of Casino Funds
Players who manage to land on huge winnings are often asked to submit various forms of evidence. For instance:
- Proof of income such as payslips, dividends or pensions.
- Bank statements or saving account that reflect stable incoming values from a reliable source.
- Dated proof of a payment made to the player.
Failing to submit evidence within an allocated time may result in a ban from making further deposits, or even account closure.
Random Number Generators (RNG)
Random Number Generators (RNG) are the backbone of every online casino game and the mechanism behind the results of each one of them. They are essentially computer programmes that produce a sequence of random numbers with mathematical algorithms. The numbers generated are supposed not to be associated with one another in any way.
One of the RNGs that are commonly used in online casinos is called pseudo-RNG. It only requires an algorithm and seed number to operate and are used for casino games that don’t include a dealer. In the case of a 5-reel slot with 12 symbols on every reel, the RNG will choose a value of 1-12 for each of the five reels as soon as the player presses the “spin” button. Five different symbols will be generated as a result. If a winning combination is observed among the five symbols, the player will be paid accordingly.
The fairness of RNGs used by reputable online casinos is nothing you have to worry about because they are regularly tested by third-party agencies. Technical Systems Testing (TST), for example, offers a full range of testing and consulting to both online and brick-and-mortar casinos.
Acquiring a gambling licence is a critical step for a casino site looking to become a part of the world of online gaming. Different countries have their specific legislation in place to regulate online gambling operators. If an online casino wishes to enter the UK gaming market, it will be required to obtain a licence from the UK Gambling Commission.