Online Gambling

Here are some do’s and don’ts to keep in mind when you’re gambling. Do:

• Set a stop/loss strategy for your gambling session, and stick to it. A stop/loss strategy is where you set limits on how much you are willing to lose AND how much you are willing to win. For example, if you start with a bankroll of 200, one stop/loss strategy would be to (a) stop if you lose 200, (b) pocket 200 when you reach 400, and then continue to play with the remaining 200 until you (b1) lose it or (b2) win 200 more, at which point you would stop.
• Know the rules of the games that you’re playing.
• Tip the dealers and drink staff even if you are losing. You’re tipping for their service, not for your run of good or bad luck.

Don’t:

• Drink to excess when gambling. Alcohol suppresses inhibitions and increases the chance that you will wager more than you’d planned.
• Bet more than you can afford to lose. If you are betting money that you need for food, shelter, and clothing, then you’ll find yourself in a tough spot very quickly. (If anyone reading this finds themselves in this situation, please seek help at GA.)
• Give unsolicited advice to other gamblers. It’s rude. For example, when playing at a blackjack table, don’t tell others how to play their hand (unless they ask you, of course).

Online gambling has its own unique do’s and don’ts in addition to the ones listed above. Do:

• Try out the site before you make a deposit. Many sites allow you to play in practice mode so you can see if you’d enjoy playing there. In addition, some sites offer free, no-deposit bonuses that you can use to try the games risk-free and actually have a chance to win real cash.
• Get a bonus on your initial deposit. Many sites offer to double, triple, or even quadruple your initial deposit as an incentive to play at their site. If you get a bonus, be sure that you read the site’s bonus terms and conditions so that you understand if there are any restrictions regarding the bonus. (I’ve written an extensive article on bonusing that you’ll want to check out.)
• Use a NETeller e-wallet to fund your online gambling accounts. It’s fast and secure, and it much more convenient than credit cards (in fact, most online casinos no longer accept credit cards). If you do not already have a NETeller account, you can get a 10% bonus by contacting me prior to opening your account.
• Make sure that the gaming sites accepts players from where you live. With the recent passing of the Unlawful Internet Gambling Enforcement Act of 2006 by the United States, some sites have stopped accepting US-based real money players from some or all states. You can find out which sites accept players from where you live at The Online Casino Gambling Directory; the sites listed there have an icon that indicates if they accept players from all or parts of the United States. Here are the lists of all online gaming sites that accept players from various locales.
  • US players that reside in any of IL, IN, LA, MI, NJ, NV, NY, OR, SD, WA, WI
  • US players from all other states have a few more choices available
  • Non-US players have the most choices

Don’t:

• Expect to be paid right away. When you withdraw, it usually takes several business days for the money to appear back in the account that you used to make the deposit.
• Provide false information when registering at an online gambling site. Sites can use this fact to void your winnings!
• Go anywhere other than The Online Casino Gambling Directory to find online gambling sites. The Online Casino Gambling Directory is listed as one of few Reputable Gaming Portals by eCOGRA, and is really the only site you need to find gambling sites and related information. (OK. That was a shameless plug — but it’s true!)

NETeller recently confirmed that they are staying in the US market, at least until the US implements the provisions of the UIGEA in July 2007. Realistically, there will need to be a major shift in the United States Congress to allow NETeller to continue operating under its current business model in the United States. By major shift, I mean something on the order of a repeal of the UIGEA, which is unlikely.

One possible scenario that I can see is that the regulations that are implemented will contain a loophole through which NETeller will attempt to squeeze through. History suggests that most regulations of this nature do contain loopholes that are exploited by interested parties, and there is little reason to think that the UIGEA regulations will be an exception. Once NETeller attempts to squeeze through the loophole, litigation may follow (although I can’t imagine what jurisdiction would hear the case).

We’ll all have to wait and see. In the meantime, game on!

By the way, if you are a US player and recently go kicked out of your casino or poker room (like I did!!!), I got your back. Here is a list of online casino and online poker sites that continue to accept US-based real-money players. Fight the power.