Online
casinos, also known as virtual casinos or
internet casinos, are online versions of traditional
("brick and mortar") casinos. Online
casinos enable gamblers to play and wager on casino
games through the Internet.
Online
casinos generally offer odds and payback percentages
that are comparable to land-based casinos. Some
online casinos claim higher payback percentages
for slot machine games, and some publish payout
percentage audits on their websites. Assuming
that the online casino is using an appropriately
programmed random number generator, table games
like blackjack have an established house edge.
The payout percentage for these games are established
by the rules of the game.
Reliability
and trust issues are commonplace and often questioned.
Many online casinos lease or purchase their software
from well-known companies like Microgaming, Realtime
Gaming, Playtech, and CryptoLogic Inc in an attempt
to "piggyback" their reputation on the
software manufacturer's credibility. These software
companies either use or claim to use random number
generators to ensure that the numbers, cards or
dice appear randomly.
By
taking advantage of 'free' bet promotions, users
can back the event, and then lay the event on
a betting exchange, at similar or same odds, thus
ensuring that their 'free' bet is not a bet at
all, instead more like a financial trade. No matter
the outcome, it is possible (by using a betting
/ arb calculator) to calculate both the possible
outcomes before the sporting event has started.
By inputting the odds, the bet calculator then
tells you what amount to bet, to ensure that whether
the bet wins or loses, the return is the same.
(Wikipedia).
