How many times have you come across celebrities endorsing online rummy or poker while surfing the internet? Ads are commonplace when browsing the internet in modern times. Most free applications have numerous ads that they remove at the cost of premium subscriptions. Most of these ads are about online games such as rummy, ludo, poker, bingo, etc., which guarantee the user money on winning. The popularity of such games has led to the rise of online gambling.
What is online gambling?
Gambling, in simple words, means betting, playing games of chance and taking financial risks in the hopes of winning a desired result. Many organisations offer websites and mobile applications with games and bets promising instantaneous financial rewards to players. Virtual casinos are the new trend in the online market, contributing about $40 billion annually at a global level. The number of ads for these games that have popped up in recent years is alarming, and most falsely claim to be ‘games of skill’ rather than ‘games of chance’.
How does it work?
It is easy to download and play virtual gambling games on our devices. Most of these games use online methods of transaction: cryptocurrencies, eWallets, credit and debit cards, etc. People often start playing with little to no investment, receiving financial rewards for winning. However, these games can offer increased rewards or unlocking of higher levels for a minimal price. Such offers are attractive and often too good to lose. After the initial incentives, one may get stuck in a vicious cycle of losses and defeats.
Reasons for the expansion of the online gambling market
The online gambling market stands at nearly $58 billion, with various factors facilitating its expansion, such as:
- The worldwide expansion of the Internet
- Improved access to technology
- Increased smartphone use across the globe
- Rising disposable income
- Advancement of digital payment systems
- The growing trend of online multiplayer games
Risks associated with online gambling
We often ignore the warnings that follow the ads of such games: these games involve elements of financial risk and can become addictive unless played responsibly. There are numerous risks associated with สล็อตฝากไม่มีขั้นต่ำ(slots no minimum deposit) gambling, such as:
- Financial fraud or loss
- Visiting fake or fraudulent websites
- Identity theft through the means of malware, spyware and viruses
- Receiving phishing emails
- Accidental disclosure of sensitive information
Numerous other risks involving the compromise of passwords, account information, personal information and online theft are possible, but we often turn a blind eye to them.