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Online Casino Facts including TaxesWebsite Gambling Article by - - Nov 2, 2007 Safe Secure Licenced Online Casinos - The Facts Gambling at online casinos is a favorite pastime for millions of people. But whether you're interested in playing 5¢ Slots, 25¢ Video Poker, or playing $50 hands of Blackjack, it can be hard to know where to start. With so many online casinos out there, how can you find the best online casinos to play at? The fact is: Online casinos subject their gaming books to reviews. Not a review by their own in-house accounting department, but one by an internationally renowned professional services firm. The payout percentages, both present and past, are then posted on the casino's website. Look for them, these casinos are proud of their high payout rates! Is it safe depositing money with an online casino? All casinos listed on our website use 128 bit encryption security to transfer information and funds confidentially and securely. What this basically means is that transacting with these casinos is every bit as safe as transacting with major banks and financial institutions on-line. If you're comfortable buying at Amazon.com, then you should be comfortable depositing at a good online casino. All banking transactions are protected by 128-bit data encryption, the same level of encryption that is used by Fidelity Investments and other giant financial institutions! let's talk about credit card fraud: We are not aware of this ever occurring. Besides the factors we have mentioned above, the casino never receives your credit card number in the first place. Rather, the information goes to a third party. I would be far more worried about giving my credit card to a teenager in a restaurant and having her disappear for 30 minutes than I have about credit card fraud with online casinos. Online Casino Licenses: To operate internet casinos and sports books licences now issued by governments around the world. The first to issue licences were Caribbean and Pacific Island Governments, most notably in Antigua Barbuda, St Kitts, Dominica, Curacau and Vanuatu. More recognised jurisdictions have also recently started issuing licenses, including Australia and gaming commissions of North American Indian territories. To be a licensed online casino requires a minimum $100,000 annual licensing fee! Your personal security (including credit card details and other personal information) is also guaranteed under license agreements in many, if not all, jurisdictions. Most casinos and sportsbooks use secure servers to conduct all of their transactions, and all information about you is held offline. Many also take out insurance against fraud. Many of the jurisdictions require that the licensee posts bonds of cash or insurance as part of the license requirements. As an example, the groups licensed in Curacao have to post an amount of money equal to the average win in a special account in order to guarantee that they can pay winners. To even get a license, those who apply have to go through some extensive government checks. Do I have to pay taxes on my online casino winnings? Paying taxes on your winnings depends upon the jurisdiction in which you reside. Certain countries have strict privacy laws and the casinos will not have financial information disclosed to anyone. Your winnings are up to you to declare. How do you know outcomes are random and you're not being cheated? In order to prove to players that game outcomes are random, many casinos and casino software developers are having their game return to player rates reviewed by independent auditors. Microgaming, and all its licensee casinos for example, has Pricewaterhouse Coopers review historical return to player rates, and post the verified outcomes for players to see. Returns are verified in the range 96% to 99% across all games - returns consistent if not better than terrestrial casinos. Do many people actually gamble online with real money? It might surprise you to know that recent estimates suggest that somewhere in the order of 30 million people have actually placed real money wagers via the internet, and the majority of these would have been placed at internet casinos. Results of a survey published in PRNewswire (22 March 2007) claimed that approximately 23 million people gamble with real money online at the moment. How do you start playing at online casinos? 1 Download and install the casino software. Every quality online casino allows you to download their software and play it without cost. 2 Register and open an account. The next step is to register with the online casino. This involves giving some ID details (name, address etc), and establishing your player username and password. You can now play the casino software for free to see what it is like, and if you choose, open a real money account and play for real. The best online casinos make it easy to deposit money into your casino account. You can do it with a credit card, and your account will be credited instantly. You can also send checks, money orders, paypal, Firepay or use Western Union or bank wire transfers or even over the phone depending upon the casino. So where do you recommend that I gamble? Easy, begin by playing at the casinos which have been around for a long time, and have established themselves as reputable operators. There are quite a few out there, but we can only vouch for the ones that we have played and been happy with. Online gambling is a competitive business and many casinos will offer a lot to get and keep your business. Many will offer sign-up bonuses to new customers, adding 10 to 50% of their initial deposit to their bankroll. Some will randomly deposit money in customer accounts and others will give away vacations for specified levels of total money bet. The rules are usually better than in physical casinos. You don't have to travel long distances. The casino is in your own home. You don't have to suffer real casino annoyances. You don't have to feel obligated to tip. Online Casino games are available to suit all windows platforms, mac, webtv, cable modems, dial up, 33k, 56k modems and offer a choice of your preferred language. Eg English Spanish French German and many more. Every Online Casino on this website is Fully Licensed, Authorized, Legal and Safe. All have completely secure internet servers.
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