Risk of online gambling

The opening-up of the US online sportsbook market has been as important for UK-based gambling firms as it has for native businesses.

(© Tomasz Zajda – stock.adobe.com)

The proliferation of the internet has brought about lots of benefits for everyone but it has also brought about certain risks, which if you are not careful, can be really costly. This usually happens if you have certain information that is being uploaded online, such as your personal particulars, your credit card details, your online banking access codes and pins, and many others.

There are lots of phishing software and bugs out there that has the ability to extract such information remotely, without you knowing. This is also the reason why countries all over the world are rushing to develop and ramp up their cyber defenses because cyber threats are real.

Online Gambling

The threat of cyber defense is very real for us players who constantly access the various online gambling sites out there, especially since our sensitive information are being shared with the particular online operator that we are playing on.

Therefore, it is important to know the possible risk involved so that we are more aware of the precautions that we will need to take. The last thing that anybody would want while having fun on a particular online betting site, only to realise that all their winnings have been siphoned away or that a huge sum was charged to their credit card.

Risk Involved

The very first risk that applies to us online gamblers is the risk of revealing our credit card and bank details to people whom we do not want to share with. This could happen if the online betting site that you are accessing is a bogus site, and that their real intention is to extract such information from players.

Thereafter, you find a huge sum being credited to your credit card or your savings being withdrawn from your bank account. In order to prevent this, always read up on the various reviews out there on a particular betting before committing to it. If you cannot find any review being done on a particular betting site, it is best to avoid it totally.

Also, always make sure to check your credit card for any suspicious transactions and raise a dispute with your respective banks, if there are any.

Secondly, in line with the very first risk, certain bogus websites may also embed certain bugs or malwares in their online games. Thereafter, when unknowing players download these games into their computers, it then gets infected.

The prowess of such bugs should not be belittled because similarly, it has the potential to extract sensitive information from your computer including your banking details and card details. In addition to that, it can even take over the operating system of your computer, such as turning on your webcams and many others.

Third, as we are having fun on the online betting sites not on gamstop, ultimately, we are there to make a little fortune and it would be undesirable if these winnings cannot be withdrawn. I have seen cases like this happening to the people around me, and one even won the jackpot! Unfortunately, it was a bogus site, and therefore he was unable to withdraw his winnings.

That was really unfortunate and the feeling is unbearable. Therefore, to avoid such situations, always be sure to test the withdrawal function of the site that you are playing on, before committing to one. Do also check on the time required for this transaction to happen. You do not want to be caught in that situation when you need the funds but they are stuck in the transaction process, and that it is taking longer than you actually expect.

Conclusion

All in all, while there are inherent risks out there on the internet, this article is not to deter you from having fun on your favourite online betting sites. Rather, this is an added precaution for you to be aware of the risks out there, so that you can protect yourself whilst having fun.

As I have mentioned repeatedly in this article, the most detrimental thing that can happen to you in my opinion is to have your sensitive information especially your credit card details being stolen. Ideally of course, we should not have such information kept in our desktop. Now, here’s a really tiny but important tip. Never save your passwords or credit card details online! Never!

Story by Ben Walker


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