5 Most Common Online Casino Myths

The money generated by these websites certainly reflects that change. iGaming is now generating billions of dollars annually.

Despite this increase in popularity, a lot of people still cling onto various misconceptions and outright myths about the industry. In this article, we would like to discuss the five most commonly-held beliefs about online casinos that are either untrue, or widely misunderstood. Without further ado, let us delve into the meat and potatoes.

'Online Casinos are for Men'

One of the biggest misconceptions when it comes to online gambling is that online casinos are a male-centric activity. The truth is actually quite the opposite. Surveys have shown that women tend to sign up for online casinos much more frequently than men, and the same is true for online sportsbooks.

In 2023, men still use online casinos more than women do. However, that is likely to change in the very near future. Online casinos are so popular among women, that even land-based casinos have moved on from the macho atmosphere, and are now appealing to a mainly female customer base.

'Online Casinos Are Rigged'

The idea that online casinos are rigged comes from the misconceptions behind house advantages, and exactly how they work. For the uninitiated, a house edge is a mathematical expression of the percentage that a casino expects to keep from every bet that a player makes. In other words, it is not that casino games are rigged. A player still has the chance and opportunity to win, and the outcomes are still random.

What is important to note, is that there are quite a few of low house advantage games, that will serve new players a lot better. You will find that some of the lowest house edge casino games are games like blackjack, certain slots, European roulette, etc. Poker, on the other hand, is a game with no house edge. The game relies solely on the players' experience and skill. So, you always have the option of giving that a go.

'Credit Cards are the only Option'

In the early years of online casinos, credit cards were the only payment method available to players. Due to this, a lot of people believe that credit cards remain the only option that customers have. However, that could not be further from the truth.

We live in the new age of private transactions, where e-wallets and cryptocurrencies are the way forward. Online casinos have fully embraced the new age. Customers can now use cryptocurrencies, e-wallets, direct bank transfers, and even e-checks.

'Cold and Hot; Let's Not'

One of the most permeating myths when it comes to online gambling is the idea that cold and hot streaks exist when it comes to slot machines. For those who don't know, you can probably assume that a hot streak is when the machine is more likely to give out money, whereas a cold streak is the opposite.

The question is, is there any merit to this claim? The answer is a resounding 'no!' Slot machines, whether online or offline, are 100% random. Throughout the games' long history, their creators have incorporated Random Number Generator software to create fully randomized outcomes. In other words, there is no such thing as a cold streak or a hot streak. It is all down to luck.

'Lucky Charms Work'

Finally, we would like to address a myth that may not be harmful, but is widely believed and untrue non-the-less. That being, lucky charms that may help you win a game. Gamblers, bettors, people in general tend to be a superstitious group. They have a string of good days and attribute it to a certain item. It could be a coin, a horseshoe, a shirt, or a four-leaf clover.

While holding onto these lucky charms, people may feel more confident, happier, and sure of themselves. From that point of view, lucky charms do work. However, they do not alter the outcome, and they definitely don't help players win at casino games.

FAQ

Are online casinos rigged?

No. Online casinos are not rigged. They are safe and secure. At least the licensed and reputable ones are like that.

What do I do if I've hit a hot streak?

There is no such thing as a hot streak when it comes to online casinos. If you've won a series of slot games, then we would recommend quitting while you are ahead. Ultimately, of course, the choice is up to you.

Can I make transactions with any other method other than credit cards?

Absolutely. In 2023, online casinos accept payment transactions made through credit, debit cards, e-checks, vouchers, e-wallets, and cryptocurrency. Crypto is especially popular, especially Bitcoin, Ethereum, Tether, etc.

Do women play at online casinos?

One of the biggest misconceptions are that women don't play at online casinos. The truth is the exact opposite. Women are much more likely to sign up for online casinos in 2023 than men are. So much so, that many websites are now pandering to a female audience.

Would my Lucky Charm work at an online casino?

The simple truth is that, lucky charms don't work at any casino, land-based or online. They may comfort you, or make you feel bolder. But they don't impact the chances of victory.