Online casinos have been around since the invention of the internet. Looking at the gambling industry, one thing is evident; online casinos have streamlined gambling making it popular and accessible to players around the world in a way that the walk-in casinos couldn’t. In this article, we will discuss how online casinos function.
Among the topics that we will discuss include deposit and withdrawals from online casinos, the relationship between the casino platform providers, software providers and the payment providers. In as much as playing at online casinos is a seamless process, a lot of activities are usually at play in the background. We hope that this post will enlighten you on how online casinos work.
Deposit and withdrawals
Before you can play your favorite games at an online casino, you need to be able to deposit cash into your account. Depositing funds to a players account is made possible by the payment options the casino provides. There are multiple deposit options a player can opt for depending on availability and reliability. Online casinos offer its clients with diverse payment options ranging from credit and debit cards, e-wallets such as PayPal and Skrill, bank transfers and currently there are emerging casinos that allow players to play using cryptocurrencies such as bitcoin and ethereum. When a player needs to withdraw funds from their accounts, they can use these payment options to withdraw their funds.
When choosing the payment options for withdrawals and deposits, a player should be aware of the fact that transactions are processed at different rates depending on the medium opted for. For instance, e-wallets have proved to be faster in processing deposits and withdrawals when compared to bank transfers.
Platform providers, casino operators and payment processors
For an online casino to work, there needs to be a platform that will hub the games; this necessitates the need for platform providers. The primary function of platform providers is to design and develop the online environment that online casinos will use to host their games. Depending on the needs and client base of an online casino, not forgetting the games that the casino intends to host, a platform provider may develop a platform that can handle 1000 or fewer games to those that can hub an excess of 5000 games. Platform providers are also responsible for creating multiplayer and single player gaming environments.
As we mentioned earlier, players need to deposit and withdraw funds from their online casino accounts which necessitates the need for payment providers. The primary function of payment providers is to provide a channel through which players can withdraw their winnings or deposit cash to the online casinos. Software providers such as Playtech and Microgaming are responsible for developing games and content that are made available to the players in the online casino. Without software providers, online casino players wouldn’t be able to enjoy their favorite games in the online casinos.
Return to Player Percentage
Finally, we end this post by talking RTP (return to player). The term means the amount of wagered funds at a specific slot or game machine will pay back the casino players over a certain amount of time. If the RTP of a slot machine is capped at 80%, this means that if players wager $100 using $1 stakes, they are guaranteed to get 80% of the cash wagered in winnings.
Other names for Free Spins – regulation by the UK Gambling Commission