Bettel is German for ‘betting’, and in German-speaking countries it can be used as a verb to mean ‘to gamble’. When used in the nominative form, it can be an adjective meaning ‘recklessly generous’. However, if the noun is used with an adjective following, it can be a noun meaning ‘a state of mind that is generously inclined toward gambling’.
The betting industry is a multi-billion dollar market, and it is growing year after year. Gamblers around the world are wagering more than ever before, and there are numerous online casinos where people can place their bets. But what happens when you are playing online and your account gets compromised? What should you do if you are betting verballt (German for ‘verballt abused’)? Should you shut down your account? How harmful is online gambling? Let’s examine these questions and more in today’s blog post.
What is Online Gambling?
“Online gambling” is simply all gambling that is conducted electronically, such as via computer, tablet, or smartphone. It does not include physical, face-to-face wagering, such as sports betting or land-based casinos. With the rise of the internet and the popularity of smartphones, online gambling has become incredibly popular and accessible. It is an industry worth around $16 billion annually, and that is expected to grow to $23.8 billion by next year.
Why Are People Going Online For Gambling?
There are numerous reasons why people would choose to go online for gambling, but let’s examine the most common reasons:
- Ease of Use
- A Variety of Betting Options
- Low House Edge
- Fast Payouts
Is Online Gambling Harmful?
Let’s examine the overall health of the online gambling industry and the effects that it is having across Europe and the rest of the world. In the last year alone, the industry has grown by 12%, and that trend is expected to continue. If you take a look at some of the top online casinos, you will see that they are available to play in all European Union countries as well as in Australia, Canada, and the United States. The reason behind the industry’s success is that if you want to play online casino games, you can go ahead and do so. There are no restrictions on where you can play, and it is highly likely that you will not be banned for playing. Finally, the industry is incredibly transparent. You will always know exactly what type of games are available and what the rules are for playing. If you want to have some fun, you can go ahead and play any game you choose without having any fear of repercussions.
Now, it is important to note that gambling is a fun pastime and a way for people to relax and decompress. However, if you are going to be placing bets or playing for high stakes, you should certainly research the risks involved. Some of the more common risks associated with gambling include: