Although technology is the way of the future – There are still many gamblers who are reluctant to play at an Online Casino, or australian online gambling sites, for various reasons. The main reason we have come across is that people are unsure of how their money is handled and they seem to feel that it is going into a black hole somewhere on the internet. The ironic thing is that these same people are quite happy to use internet banking to transfer funds to other accounts and to do shopping online, yet are scared to allow a casino to debit their credit card.

For this very reason I decided to write this article to dispel some of the myths around gambling online, and more specifically the banking, depositing side of things. I am referring specifically to credit card transactions, however most e-wallets like Neteller, Moneybookers, Eco Card etc. operate on the same basis.

The most important thing to remember is that all credit card transactions performed over the internet are done via a SSL encrypted channel. SSL stands for secure socket layer, which simply means that it is processed over a secure connection via a 3rd party processor directly linked to your bank. The casino does not see the actual credit card account number or data, so it is actually safer than paying for a meal at your local restaurant with a credit card!

You are also protected from potential fraudsters using your card as most online casinos have very stringent security procedures to the point of being quite irritating if truth be told. i.e When you request a cashout of your winnings, the casino will often insist that you send a copy of your credit card and identification document so that they can prove that you are the legal owner of the card. This is only for the 1st withdrawal, subsequent withdrawals are processed with ease once they have done the initial verification.

The beauty of using credit cards is that it takes less than 5 minutes to process and the money is available in your casino account immediately. There is also an added feature which many people do not know exist, and this is called a chargeback. Unfortunately some gamblers use this facility when they have exceeded their bank roll and have gambler remorse, so they simply chargeback the funds by telling their bank that the transaction is fraudulent or unauthorised. Please note that this is not recommended and will get you banned by the online casino in question!

However, if you genuinely discover that someone ( like a family member ) has used your credit card without your knowledge, then you can request a chargeback from your bank and they will then retract the funds from the casino in question.

Unfortunately some banks ( especially in the USA ) have a policy that they do not process gambling transactions, and in these instances your credit card will be declined, regardless of whether there is funds in the account or not. There is not much you can do about this asides from changing banks or using another deposit method.

In short – it is safe to use your credit card on the internet at online casinos – even the highest paying casinos.

There are quite a few things you should know about online and live casino gambling before you break open the piggybank. One of the most important is that most casino games carry a negative expected value induced by the house edge. There are a few exceptions to this rule of course. Blackjack for instance can be turned into a 0 house edge game through skill or the edge can even be reversed in some cases. Certain variants of video poker can also be turned into positive EV games through optimal strategy. The bottom line is however, that the odds are not stacked in your favor when you play against the house. Unlike in poker, where the house collects the so called poker rake off a game which is played between two players, the house has no choice but to introduce the house edge in order to generate revenue in casino gambling. In poker, the house will often reward players with rakeback, something that casinos offer too in the form of comp points loyalty programs.

Now then, this house edge theory is not a secret. As a matter of fact, every trustworthy and fair casino and online casino – for example the best au online casino sites – fills its players in on exactly how much the house edge is on any given game. They usually give you payout rates (which is a marketing-oriented move on their part, as they simply tell you you’ll win X% back of every dollar, instead of saying that you’ll lose X% of it) which are varied depending on the type of game you play. These rates are in the 97-98% range in the case of slot machines and 92-94% in the case of roulette (where different bets may carry different house edges). The house edge is public information. There’s something however that is much less known about the house edge: it is not the main source of revenue for a casino. While it may look like that, and the casinos will probably tell you it is so too, the house edge is a simple tool in a greater equation. Its presence induces a process which is really responsible for the revenue the casinos make. This revenue is called the house drop, and while the house edges are in the 1-10% range (could be much more on games like bingo and keno) the house drop is generally around 30% but it can even reach 100% depending on the player for whom one calculates it.

Here’s how the house drop works. Let’s say you walk into a casino with $10, which you plan to play on the roulette (let’s suppose there’s a 5% house edge on it to make the calculus simpler). You make your ten $1 bets and you lose 50 cents. That’s your 5% house edge right there. Of course this is discussed in general terms. You may end up with more money after your ten $1 bets, on average however and over the long run, you will lose 50 cents, so it’s mathematically reasonable to use this amount.

What happens with the $9.5 that you’ve left after your initial bets is what matters though. You decide to re-invest your money, and you make 9 more $1 bets. You lose 5% on those too. If you add that money up to the $0.5 you lost on your previous bets, you’ll see you’ve lost more than 5% of your initial $10 bankroll (as a matter of fact, at that stage you’ve lost almost 10%).

If you play on afterwards, you’ll drop even more money. If you play till your bankroll is all gone, you’ll register a 100% house drop.

Why should you play in casinos like https://en.goldenrivieracasino.com/ then? Because the variance offers you the chance to take down a fabulous amount of money on every bet that you make. If you do succeed in it, it’ll be up to you to walk away with the money and not let the system take it back from you. Don’t forget to choose a casino which offers you poker rakeback like benefits, as that will cut into the house edge and implicitly into the house drop as well.