When considering the risks of online gambling, you’ve likely considered the ease of access, unlimited playtime, and unlimited money to bet. This article will outline 5 of the biggest risks associated with online gambling. We’ll also cover how to protect yourself from scams and unregulated websites when playing from Canada.
Easy Access
Easy Access to online gambling poses several risk factors for underage gamblers. Although casinos do not knowingly allow underage gamblers to enter their establishments, there is a potential for children to be influenced by the online environment, which can be particularly problematic. Using browser histories, saved passwords, and applications in the home all pose potential risks to children. Moreover, children may discover virtual casino games and interact with gambling interfaces without their parent’s knowledge or consent.
Cybersecurity Issues
In the ever-changing world of cybersecurity, online casinos face several challenges. Without an adequate cybersecurity plan, they face weeks of downtime, which can damage customer trust. High-profile hacks can even destroy a trusted brand. To remain competitive, casinos must invest in cybersecurity talent. Game developers must continually test their software and conduct probes to identify any vulnerabilities. This ongoing effort to maintain the integrity of online casino software is a major challenge, and it’s a constant uphill battle.
Today’s cyber threat landscape has grown exponentially, and the casino industry is no exception. The American Bar Association predicts that there will be legal ramifications for companies that do not maintain strong cybersecurity measures. As a result, the industry has to continue to adapt to the latest threats. For example, one Las Vegas organization had its player tracking database stolen via an IoT thermometer in a fish tank.
Unlimited Play Time
Researchers have shown that the availability of unlimited play time may contribute to gambling addiction, particularly in young people. Although it’s difficult to say what exactly leads to problem gambling, the study’s results are encouraging. It indicates that internet gambling is a more accessible means of entertainment for many individuals. So, if unlimited play time is a risk factor for online gambling, there is a need for regulation and education.
Unregulated Online Gambling Websites
A Canadian resident who places a wager on an unregulated website may risk losing more money than he expected or even becoming a victim of identity theft or deposit theft. Thieves may use personal information to apply for credit, file taxes, or even obtain medical services. This unauthorized activity can damage one’s credit history and take time to repair. Similarly, unregulated gambling websites have been accused of not paying out winnings, and patrons have no recourse if their money goes missing.
Moreover, unregulated websites are vulnerable to hacking and cybersecurity problems. They may use a third party to sell personal information to other companies and even promote gambling without your knowledge. Therefore you should avoid online gambling on unregulated websites. In addition to this, players should avoid gambling on sites with which they are unfamiliar. If unsure whether the online casino is safe, they should check for safe places and learn some safety and security advice before playing.
The Government continues to monitor the illegal gambling market and has warned consumers against engaging in gambling through unregulated sites. In the past year, British punters visited unregulated websites 27 million times. According to PWC, 460,000 customers used unlicensed gambling operators and staked a total of £2.8 billion. This represents only 4.5 percent of the overall number of visits to betting websites, or 27 million visits. While the Government’s Gambling Review continues, it is still unclear whether this trend will ever be curtailed.
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