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  The amount of money you can win from a casino bonus is often limited. Also, bets placed on restricted games do not count towards wagering requirements. It is often better for beginning players to play without a bonus.

  If thinking about complicated math equations gives you a migraine, don't worry, we'll explain what you need to know in an easy-to-understand way.

  All casino games are configured to give the casino an advantage, known as the ‘house edge’. The house edge is the percentage of money wagered that the casino can make back in the long run. Knowing how this affects you will go a long way in managing your expectations.

  Casino games have a theoretical long-term return-to-player (RTP) value, meaning that, over time, players will tend to win back a certain percentage of their initial investment. However, this does not mean that players will win back their entire investment in a single session. RTP is a statistical value, and individual game spins can vary greatly. Casinos can rely on statistics to gain an advantage in the long run. While individual players may get lucky and win in the short term, the overall result will eventually reach the expected RTP.

  For example, if a particular game has an RTP of 94.7%, statistically, over time, you can expect a return of 94.7%. On a $100 bet, that equates to $94.70, while the casino expects $5.30. Keep in mind that this is a statistical average and is not an indication of how much you can win on a particular bet.

  Wagering requirements are very important when deciding on a casino bonus. This is the total amount you need to wager before you can claim any winnings from the bonus funds. This has been briefly discussed above, but one thing to look out for is whether the wagering requirements apply to just the bonus funds or both the deposit and bonus funds. This makes a big difference in the total amount you need to wager. Don’t be caught off guard when trying to cash out – make sure you understand the terms and conditions. Quite a few online casino complaints relate to this.

  One of the most important factors is volatility (also known as variance), which relates to how big individual wins are and how often they occur.

  Gambling addiction, or problem gambling, is a serious problem that can have devastating consequences for those affected. It is important to approach gambling with caution and to treat it as a form of entertainment rather than a way to make money.

  Gambling problems can lead to financial ruin, relationship problems, and mental health problems. If you or someone you know has a gambling problem, there are resources available to help.

  The first step is to admit that you have a problem. This can be difficult, but it is important to get help. Once the problem is recognized, steps can be taken to gamble safely.

  Know when to walk away. If you or someone you know is struggling with a gambling problem, there is help available.

  Don’t stop learning the basics of online gambling with our guides. Our team of experts aim to cover every aspect of online gambling in this section. Whether you’re gambling at an online casino in Europe or a luxury online casino in the UK, our guides will help you improve your overall gambling experience and ensure you play safely.

  Whether online or offline, casinos, accountants, and other gambling establishments have historically been used for money laundering and other criminal activities, leading many jurisdictions to impose restrictions. However, the regulatory landscape is changing rapidly. And as these establishments generate millions of dollars in revenue, jurisdictions that have traditionally been hostile to gambling are beginning to change their minds.

  Vietnam, a country that has banned gambling for centuries, is considering legalizing sports betting. The Netherlands and Germany legalized online gambling in 2021, following in the footsteps of their European neighbors Spain, Italy, the UK, Belgium, Switzerland, France and Denmark. iGaming—a new internet gaming industry—began operating in Ontario, Canada in April of last year.

  While they may sound similar, this article discusses the key differences between gaming, gambling and betting, as well as how to comply with regulations in different countries.

  “Games” and “gambling” are often used interchangeably, but the former relies on a certain level of skill (i.e. Poker), while the latter is based entirely on games of chance (i.e. roulette and other online casino games).

  Betting can involve strategic predictions of real-life events backed by data and research. The most common examples are betting on sporting events, reality shows, and elections.

  Crypto gambling is a type of online gambling that uses virtual currencies as a means of payment. The advantages of this method include the added security offered by blockchain technology, and the ability for players to withdraw money instantly from their accounts, unlike in traditional online casinos.

  Sumsub has prepared a KYC guide for the gaming industry in the US and Canada to help businesses understand gaming laws in those countries and optimize their verification flows. You will learn how to combat fraud, build a proper verification process, screen users for money laundering, and maintain high conversion rates:

Crypto Gamble

  In 2009, the Financial Action Task Force (FATF) revised its Recommendations to further enhance AML obligations for casinos. As a result, FATF member countries have strengthened the regulatory landscape for casinos, bookmakers, and others.

  To comply, a proper AML program is essential. The goal is to prevent suspicious customers and transactions from entering the financial system. However, criminals are constantly inventing sophisticated methods to fly under the radar. Therefore, a truly effective AML program must be able to handle new and complex fraud attempts. Otherwise, businesses will suffer financial and reputational losses.

  Although AML laws are the same for online casinos and betting apps, betting still has its own peculiarities, and the potential for money laundering is high.

  Criminals directly invest/acquire betting shops. This is what allegedly happened in Bremen, Germany. As a result, the city government decided to close all betting shops.

  AML compliance program. To prevent betting businesses from becoming a source of crime and to comply with betting regulations, a comprehensive AML compliance program must be implemented. This must, among other things, explain how the company detects, assesses and reports financial crime.

  Customer Due Diligence (CDD). Before customers are allowed to gamble, they must go through a Customer Due Diligence check. This involves obtaining customer information to verify their identity and evaluate whether they are involved in any crime.

  Enhanced Due Diligence (EDD). In cases where the risk of money laundering is higher, companies implement what is known as Enhanced Due Diligence. One of the most vital components of EDD is checking the source of the client’s funds to ensure that they are not derived from illegal activities.

  Ongoing customer monitoring. This is an additional layer of risk management that involves ongoing due diligence checks on customers and monitoring of their transactions.

  Independent AML audits. Such audits allow companies to detect deficiencies and failures in their AML strategies, and fix them before regulatory inspections. This way, companies can be protected from high regulatory fines.

  Gambling operators must comply with laws and regulations aimed at preventing casino money laundering and terrorist financing (ML/FT). This is a highly vulnerable industry due to its high-risk nature, and online casinos often make painful mistakes that result in large fines.

  AML compliance program. Online casinos must develop their own compliance program dedicated to fraud prevention. The program must explain how the company detects, analyzes, and reports criminal incidents such as gambling money laundering and fraud attempts. There is no universal compliance system, so each online casino must develop a compliance system according to the specifics of its business.

  Customer Due Diligence (CDD) involves collecting basic information about the client (such as name, address, and date of birth) and verifying it through a trusted source. Online casinos must also check users (or “gamblers”) against databases containing Politically Affected Persons (PEPs), sanctioned and blacklisted individuals, and adverse media.

  Enhanced Due Diligence (EDD) is a more sophisticated check that is required if the client poses a high risk of money laundering. Online casinos, however, are almost always required to perform EDD due to the high ML risks associated with this sector. EDD involves verifying source of funds (SoF) documents, which include debit/credit cards, bank statements, savings accounts, recent paychecks, etc. The types of SoF documents accepted may vary from casino to casino.

  Employee training. If your team isn’t fully aware of the red flags associated with AML, even automated prevention tools won’t keep you safe. That’s why online casinos should provide their compliance officers with the necessary training, including annual refresher courses. Compliance teams should also be aware of general requirements (such as SoF verification) as well as the specific risk tolerances for their casino.

  Reporting. To avoid breaking the law, operators must always report known or suspected money laundering and terrorist financing incidents. In addition, operators should be aware that there is no minimum financial threshold for reporting these activities.

  Ongoing customer monitoring. Monitoring helps gambling operators see the big picture of their customers, their business and risk profile, including where funds are needed. Knowing your customers is helpful, as it is not always at the registration stage when fraudsters or money launderers reveal themselves.