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Online casinos are specialized websites on the Internet that provide a virtual environment in which players can gamble from the comfort of their own homes. Traditional land-based casinos transformed into online casinos that became possible only with the advancement of the Internet.
The industry started in 1994 when the company Microgaming developed their very first online casino software platform. This was a basic system released on the internet where gamblers could deposit the money, play and then withdraw immediately. In 1995 appeared the products of Cryptologic’s security system Inc (now owned by Amaya Gaming) which allowed to make safe financial transactions.
Back in the days, online casinos offered the same slots as land-based casinos, in fact, the same developers who created slots adapted their software products for online casinos. Although online casino is a very young industry, it keeps constantly changing and developing, nowadays gamblers can even play live dealer games on their iPad, iPhone or Android device. In this year, the online casino industry will generate $56.05 billion dollars and the forecast for 2019 is $59 billion. People always had an urge to gamble; now we have a unique possibility to witness the progress of online casinos and the industry as a whole.
Why nowadays gamblers prefer playing at the online casinos better than playing at the land-based casinos?
Online casinos have been growing in popularity; a lot of gamblers are attracted by its numerous advantages, availability, and convenience. Nowadays land-based casinos have become more a social meeting place for social gamblers who like to play in an old-fashioned way. The land-based casino gambling experience is truly amazing, especially if you are in Las Vegas with its flashy lights and the thrill of it, excitement, smiling waitresses, drinks and playing experience alongside other players. But not every gambler is sociable enough and is looking forward to gambling alongside others gamblers.
If the closest land based casino is located in another city the player also needs to take into account transport expenses, time, accommodation and meal costs. There are always a variety of interruptions in
the land-based casinos: other players, waitress, table games can be chaotic and full. Now you can choose – with the convenience of online casino you are able to play games from the comfort of your own home, without distractions and the necessarity of visiting Las Vegas or other gambling hotspots. There is no need for expensive trips and dinner reservations, you don’t have to worry about dress codes and you don’t have to deal with cash or chips. You will have the convenience of being able to click on the table you want to play on and not having to wait for a seat, while the games are pretty much the same as far as the basic rules.
The online casinos offer rewards in the way of welcome bonuses and other promotions. If you want to try an online slot for the first time, but you are not ready to spend any money until you’re sure you like the game, you can play the slot for free. Later proceed with real money if you like it. The biggest difference that online casinos have from the land-based casino is that they actually give you free money to get you started. Bonuses are given to new players, just for signing up and creating a new user account.
As long as there is an internet connection, online casinos can be played from anywhere in the world and at any time: day or night. They are open for business 24 hours a day, 365 days a year.
The reasons online casinos became so popular is its anonymity, privacy, and safety. If you feel comfortable gamble on your own and spinning the reels of online slots in the comfort of your own home, online casino is the ideal place for you.
When we talk about fast paying casinos, it doesn’t matter if you only play online slots, or if you stick to table games, live dealer games, poker, online bingo, wherever you are in the sports betting, eSports or virtual sports, we all want casinos with fast payouts.
Here are some of the fastest withdrawal methods available to online gamblers:
- Debit and Credit Cards, prepaid cards
Usually, these payment methods are always accepted in online casinos. Your money is credited within 24 hours.
eWallets are also known as electronic wallets and are becoming very popular. This is one of the most convenient methods for fast deposits and withdrawals from online casinos. Many transactions are instant.
Skrill is a worldwide third-party payment processor that works in the same way as PayPal. The deposits and withdrawals will show up immediately once processed. This payment method is accepted by the best online casinos. Takes a couple of days for withdrawals to show up in your Skrill account.
One of the most famous eWallets in the world. It has a great reputation among online gamblers. It is not extremely fast but this method has some of the lowest fees. Takes a couple of days for withdrawals to show up in your Neteller account.
Another eWallet, Ecopayz is not so famous as Skrill or Neteller, but the service is constantly developing.
In many countries, PayPal is not available to online casino players, but for those who do have access, this method is one of the fastest in terms of withdrawals and deposits. Withdrawals will show up in your PayPal account immediately once processed. You can transfer your funds to your bank account.
This method allows you to pay and receive money using a 16-digit pay safe card PIN number. You can safely withdraw your money and deposit them back into the bank account linked to it.
One of the new cryptocurrencies. Some transactions deposits and withdrawals are instant. Some transactions can take a bit of time.
- Bank transfers
Some banks transfers can happen instantly, but most of the time transactions can take anything from 4 hours to a couple of days.
The same payment methods, some online casinos are definitely slower when others. We have identified fast paying casinos with no pending period or cash-outs in minutes to 24 hours. Most have not required KYC but those that do require can verify your documents in minutes to a few hours.
So, which casinos offer the fastest payouts?
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Due to many restrictions and regulations regarding online gambling around the world, many countries have very limited or no access to online casinos. All online casinos are tested by independent auditing companies. They all possess a legally issued license and utilize software provided by well-known international developers operating worldwide. All trustable online casinos have a seal of approval – eCOGRA (e-Commerce and Online Gaming Registration and Assurance). This institution provides independent reviews of online casinos to help gamblers find out if the site is reliable if that is safe and secure to use.
Here is the list of the most trustable online casinos in the world that accept players from across the globe:
- Vera & John Casino
- Royal Panda
- Free Slot
- Energy Casino
In a virtual casino game, the outcome of each game is dependent on the data produced by a pseudorandom number generator (PRNG). This determines the order of the cards in card games, the outcome of a dice throw, or the results produced by the spinning of a slot machine or roulette wheel. PRNGs use a set of mathematical instructions known as an algorithm to generate a long stream of numbers that give the impression of true randomness. While this is not the same as true random number generation (computers are incapable of this without an external input source), it provides results that satisfy all but the most stringent requirements for true randomness.
When implemented correctly, a PRNG algorithm such as the Mersenne Twister will ensure that the games are both fair and unpredictable. However, usually, the player has to trust that the software has not been rigged to increase the house edge, as its inner workings are invisible to the user. Properly regulated online casinos are audited externally by independent regulators to ensure that their win percentages are in line with the stated odds, and this can provide a degree of assurance to the player that the games are fair, assuming the player trusts the regulator.
The Australian Interactive Gambling Act 2001 (IGA) criminalizes the supply of online casino games by an operator anywhere in the world to persons located in Australia. It only targets operators of online gambling sites,
resulting in the curious situation that it is not illegal for a player in Australia to access and gamble at an online casino. No operator has even been charged with an offense under the IGA and many online casinos accept Australian customers. In June 2016, the South Australian Government became the first state or territory in the world to introduce a 15% Place Of Consumption Tax (POCT) modeled on the 2014 UK POCT.
The Canadian criminal code states that only provincial governments and charitable organizations licensed by provincial governments may operate a casino in Canada. It also prohibits residents from participating in any lottery scheme, a game of chance, or gambling activity not licensed or operated by a provincial government. In 2010, the British Columbia Lottery Corporation launched Canada’s first legal online casino, PlayNow, which is available to residents of British Columbia. The province of Quebec also operates a legal online casino through Loto-Québec.
Despite this legislation, the Kahnawake First Nation in Quebec has taken the position that it is a sovereign nation, able to enact its own gambling legislation, and has licensed and hosted nearly 350 gambling websites, without ever being prosecuted.
The German Online Casino Legislative 2012 (EU) many will often describe as very complex matter. The European Commission via the “EU Pilot” scheme recently questioned Germany about what steps it plans to take to eliminate the current sports-betting monopoly operated by state-owned Oddset and to also reconsider its stance on prohibiting online casino and poker games due to the huge gray market currently existing — and prospering — in the country. Latest strike to the German Legislative was from Court of Justice for the European Union (CJEU) recently ruled against the country’s restrictive online gaming laws where is clearly stated”Further to a judgment of the Court from which it can be inferred that a national law is not compatible with EU law, all organs of a Member State concerned are under an obligation to remedy that situation,” Judge Advocate General Szpunar stated in the 2015 year.
In the United Kingdom, the Gambling Bill that was passed into law in 2005 tends to all matters of online gambling, permitting online betting sites to have a Remote Gambling Licence in order to offer online betting to UK citizens. In 2014, the UK government put into law the Gambling Act of 2014 which in addition to the original 2005 law, required offshore online gambling operators catering to UK players to obtain a UK license. The new regulation required operators to pay a 15% Place of Consumption Tax (POCT), something that triggered an exodus of sorts of some operators from the British Isles. However, this exodus did not last long in most cases as the benefits outweighed the stumbling blocks, due to the UK being a major market for online gambling.
In the United States, the legality of online gambling is debated and can vary from state to state. The Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) limits the ability of banks and payment processors to transact with internet gambling sites that are unlawful under any federal or state law. However, it does not define the legality or otherwise of an internet-based gambling site. It was commonly assumed that the Federal Wire Act prohibited all forms of online gambling. However, in December 2011, the United States Department of Justice released a statement clarifying that the Wire Act applied only to sports betting sites and not to online casinos, poker, or lottery sites, leaving the definition of legality up to individual states. Certain states such as Nevada, Delaware, and New Jersey have started the process of legalizing and regulating online gambling and it is expected that regulation will continue on a state by state basis.