It doesn’t matter where we go online; protecting our funds is of the highest importance. That’s why we keep our online banking information, card details and other identifiers or logins as secure as possible.

Using an online casino ranks in the highest tier of protection – not only is there a massive amount of financial data that is held on file, but if an operator wants to verify your identity, which many of them have to for anti-fraud and AML purposes, then they will often hold copies of your passport, driving license and utility bills.

Therefore, online casinos rank right alongside banks as online companies that need to ensure your funds and your data stay as safe as possible, and here are some of our top tips on how to protect your funds while using online casinos.

Check that online casinos have the right licensing

If you are looking to protect your funds while online, you need to take a collective approach. Doing the correct research about the quality of a casino platform will put you on an excellent footing. One of the key factors to consider is the licensing information displayed on a casino’s main page, which provides additional details about its business model and operations.

Some gambling licenses have a much better reputation than others. For example, a UK Gambling Commission License is considered one of the highest-rated in the industry. The UK was a pioneer in the early days of online casino gaming, with its landmark Gambling Act in 2005. Underpinning this legislation was the bolstering of the UKGC.

The regulator has a significant emphasis on responsible gambling, fines and criminal penalties for those gambling companies that do not adhere to the strict framework that the UK has had in place for the last 20 years.

Other reputable casino licenses in the industry include those issued by the Malta Gaming Authority (MGA) and the Isle of Man Gambling Supervision Commission. Regional US regulators that have a good reputation include the Nevada Gaming Control Board and New Jersey’s Gaming Control Board.

Costa Rica, Panama and Curaçao are among the licensing bodies to look out for, as they have a less-than-stellar global reputation. This can lead to signing up for brands that do not necessarily have your best interests at heart, and may not prioritize the protection of your data or funds.

Read what people are saying online

Sometimes the opinions of people are something that you shouldn’t seek out online, especially when it comes to expert, academic topics. However, casino gaming is something that appeals to a mass audience, and weighing up what reviews on social media say and what other players have to say about their experience via social media comments is something that can assist you.

Negative reviews are common practice, and you’re not going to find a casino out there that doesn’t have a couple of dozen negative comments. However, suppose they have a low rating on multiple sites, pages of negative reviews, and numerous comments stating that they have had issues with funds disappearing or their data being compromised. In that case, these are the online casinos you should avoid at all costs.

Seek out alternate payment options

There are other ways to protect your funds when using online casinos, and some individuals have opted for alternative payment options to safeguard their funds while playing online. Brands like Neteller, PayPal and Trustly allow users to sign up and link their bank accounts or cards, so in the event of a breach, there’s no sensitive card information that is held on a server.

In addition to this, cryptocurrency casinos have emerged as a means for individuals to shield themselves from some of the typical risks associated with traditional payment options. Although Bitcoin utilizes the power of the blockchain and all transactions are publicly available, they cannot be amended. The rise of stablecoins has also resulted in a broader range of options for those who prefer to play using their digital assets.

It’s rare that a cyberattack on a crypto casino will target customers’ wallets and data; they will usually try to access the funds that are held in the main casino wallet, as that is where the bulk of the casino’s capital lies. PC performance protection privacy and VPNs will add an extra layer of security for those looking to insulate themselves further. Still, the rise of alternative payments demonstrates that you can combat fraudsters on multiple fronts.

Responsible gambling protocol

Protecting your funds doesn’t just mean using a platform that has an excellent track record of keeping your funds safe; it also means putting rules in place so that you can keep your betting at a reasonable level and within the initial framework of your betting limits.

You can set these targets by using readily available tools that online casinos offer, such as time and deposit limits, and you can also set deposit limits to ensure you do not exceed a specific amount over a particular period, usually 24 hours.

You should only ever gamble with money you can afford to lose. If you begin to bet with money that is earmarked for essential household goods, rent or savings, then this is a huge red flag, and a telltale sign of a gambling problem. Other signs to look out for include:

• Chasing losses.
• Borrowing money from people to gamble.
• Secretive behavior.
• Issues with your family, friends and close relationships.

In this instance, it’s not just a simple case of protecting your funds; it’s a matter of stopping your gambling from becoming so destructive that it leaves you with no money.

Final say

You need to adopt a multi-pronged approach to ensure you keep your funds safe while using online casinos. Responsible gambling tools and adequate levels of research about a new casino brand give you a strong foundation you can work from.

However, although the full scope of a casino’s security protocol and how they keep your data safe is something you usually have to take for granted, if you read local news and check out social media comments and reviews from gamers and experts alike, you’ll put yourself in the best position to protect your funds online. Stay safe, stay measured and stay up to date with the latest security and licensing developments in the fast-paced and ever-changing world of online casino gaming.