Hidden Traps in Illegal Casino Operations and Tips to Avoid Them
Casinos, whether land-based or online, have seen a marked growth in terms of earnings and number of operators in the last decade. According to available data by Statista, starting from 2001, the total gambling gross yield worldwide was forecasted to reach 115 billion U.S. dollars as at 2016, and further projected to rise to 495 billion U.S. dollars by 2019. That’s over 300% increase in just three years!
Unfortunately, the proliferation of casinos has also seen a rise in the number of illegal casinos in operation. These bad eggs are not only a blight on the business but have crafted almost foolproof tricks by which they game the system and fleece unsuspecting members of the gambling community worldwide. Their mode of operation involves a lot of hidden traps which come in the form of juicy offers and options.
Hallmarks of Illegal Casinos
Some Illegal casinos can be identified by the way they operate and the quality of service value they deliver but some cannot. Here’s the key parameters of their operations and services are:
Unfair Deals : In legal casinos, there is a regulation on the winning ratio. UKGC for example, the advantage of the dealer/operator cannot be more than 5%. However, in illegal casinos, there’s no such rule. You may find the same game or even a better bonus in the illegal one, but winning ratio behind is horribly low.
Cheating : Their games & systems do not require third party certify. That means the systems are rigged to cheat players whether online or in a brick or mortar shop. It is not surprise that people always losing their BIG CALL. Can’t tell any problem? Of cause! Even a professional game testing lab needs to spend days to find the back door in these games.
No Protection: There are no guarantees embedded in their services which can serve as protection for the players. People cannot report to any authority even they have evidence to prove that casino is cheating.
Easy of Startup: You can detect this from the lack of standard environment they operate from. This is a critical point to watch out for because if they can easily bail out any time with no fear of incurring a loss in the event of a major fraud investigation.
Why Many People Fall Prey
Sadly, a lot of people still play in and fall prey to these illegal casinos at the moment. If you’re wondering why the answers are not farfetched — they do so because of the following reasons:
- Lack of Options: In some countries, there is one legislation or the other which prohibits gambling. In China, for example, gambling is outlawed. This means that anyone who has a passion for playing in such countries can only do from illegal operators. It’s difficult to expect an illegal service provider to have integrity.
- Unreasonably High Payouts: This is usually one of the hallmarks of the illegal operators with an ‘inbuilt, hidden, cheating’ system to make players lose. That is why most of them can offer an unaffordable payout to bait their customers. Always do the math by yourself!
- Easy of Deposit/Withdrawal: A normal deposit or withdrawal procedure can take days to process. However, illegal casinos are able take it within a minute. It is not because they work harder, but they are able to skip all the third parties & regulations. The implication? No protection for the money deposited in terms of refund when there is a deposit or transaction failure.
- Credit Bet Offer: In order to attact more players, underground casino offer credit bet to unsuspecting players. But unknown to these clients inside this credits there are hidden unreasonable interest rate which cost them a fortune or even their life.
A Permanent Fix? GlobeCas Blockchain to the Rescue!
While many legal casinos are aware of the operations and impact of the underground operators on the gambling ecosystem in terms of earnings and reputation, many have been short on ideas to fix the problem. While some have made efforts to upgrade their operations including traditional payments and cash out options, the illegal guys have continued to have a field day. With GlobeCas Blockchain-driven innovation, however, the gambling ecosystem can heave a sigh of relief from the scourge of illegal casinos and their hidden traps.
The GlobeCas solution involves:
- Building an integrated casino platform
- Allowing land-based casinos in its network to live stream real-time dealing games
- Covering the licensing and compliance issues by our UK Gambling Commission Operating License
- Providing the initial equipment setup, gambling software, customer services and technical support package services
- Changing the traditional payment methods which can be complex, expensive and time-consuming. For instance, the longer processing time for deposit & withdrawal (involve bank & other payment gateways, usually extending beyond one call to several business days. This a sore point for the business of many legal casinos who haven’t been able to find the technology to do better.
- Standardizing deposit and withdrawal methods by using our cryptocurrency (GCT)
- Strengthening and diversifying the platform with live dealer games, Poker, RNG games, slot machine and sportsbook; and
- Enhancing the quality of the entire gambling industry
With GlobeCas everyone is guaranteed a well-regulated where fair play lead to fair wins: the system is designed to resist cheating, providing protection for player deposit; players enjoy low transaction cost, rapid deposit & withdrawal allowed by token with guaranteed security for deposit & withdrawal.
Launched with the most recognized gambling authority, the UK Gambling Commission License, GlobeCas is a Blockchain-driven network of casinos joined into a single, unilateral platform which uses the GlobeCas Token, GTC, an ERC20 token standard on the Ethereum Blockchain as the standard currency on the platform. The GlobeCas technology solves the deposit and withdrawal issues caused by the traditional methods of payment on other gambling sites.
Drawing from an experienced team with over 13 years of solid business experience in the gambling industry the GlobeCas value proposition seeks to:
1. Standardize the Currency of the Gambling Industry
2. Protect Clients from a Sole Casino
3 Ensure Full Payout Compliance
4 Facilitate KYC Convenience
Share The Success
The GlobeCas fix for illegal casino is a demonstration of the platform’s readiness to provide world-class service to the global gambling community. Already, GlobeCas ICO is live now. We will have a huge bonus for our early supporters. Clearly, there are no doubts here: a digital coin solution for the gambling world makes perfect sense, and GlobeCas will be the most profitable project in 2018 and is ready to lead the industry.