The Basics of Online Gambling
Online Gambling is any form of gambling that takes place on the Internet. It includes virtual poker, casinos and sports betting. The first online gambling venue opened to the public was ticketing for the Liechtenstein International Lottery in October 1994.
Legality of Online Gambling in Canada
Many countries, including the United States, have strict laws against the use of the Internet for illegal gambling. For example, the Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006 prohibits banks and credit card companies from transferring funds to internet casinos and gambling sites.
Some states, like Washington, prohibit online gambling. In Washington, the term “gambling” includes three things: wagering money or something of value on an online game of chance for a prize of value; agreeing to a winning outcome or agreement for a future event; and advertising or promoting these activities.
Bonus Hunting, or Bonus Bagging and Bonus Whoring
Some online gamblers try to profit from casino, sportsbook or poker room bonuses. These schemes involve the manipulation of casino, sportsbook or poker room bonus situations by using mathematically advantageous strategies.
Deposit Limits and Time-Out Periods
When playing at an online casino, it is important to set a deposit limit. This is to make sure that you are only playing for a limited amount of money at a time.
It is also a good idea to set a time-out period when you have won. This allows you to take a break and cool down before resuming play. This can help prevent you from losing all of your funds or winning too much and becoming a high roller.