Most people are aware of the meaning of Bitcoin and other cryptocurrencies in general. However, many individuals have no idea what -200 means in relation to betting. While it might not seem like a big deal, this number can actually make or break your whole gambling experience. In this article, you will learn about what -200 means in betting, including some tips on how to avoid this number altogether so you can have a more pleasant experience when playing any game.
What Is The -200 Number?
The -200 number is a combination of the last two digits of the years 1900 through 2002. It is used when determining gambling limits in many countries, including several in Europe. This limit is commonly imposed on online casinos because most countries in Europe consider online gambling to be a recreational activity rather than a serious form of gambling. As such, they place heavier limits on what an individual can wager compared to land-based casinos.
For example, in the country of Ireland, an individual can wager up to €600 per day, though this is restricted to casinos that offer Irish games and licensed betting shops. For other casinos that offer gambling, the maximum daily wager is €400.
Why Is Online Gambling Limited?
Most people are aware that gambling is usually associated with land-based casinos and other types of physical betting parlors. While these locations still exist, the modern equivalent is the online casino. Because of the increased security and reliability offered by the Internet, online casinos can afford to be a little more liberal with their wagering limits. This is especially beneficial for recreational gamblers who might otherwise be limited by the lack of a physical presence.
However, there are still boundaries in place to prevent people from losing large amounts of money. For instance, while there is no maximum amount that an individual can wager on online bingo, on certain sites you are liable to be told that your account is over a certain level. The same goes for other types of online betting, particularly sports betting, where the -200 number is frequently imposed. However, as long as you stay within the law, you should have no problems wagering as much as you want whenever you want.
Does Financial Stability Matter?
One of the reasons that online casinos are limited in the amount that they will allow you to wager is due to financial considerations. Since inception, Bitcoin has not been a stable cryptocurrency, meaning that its value can fluctuate widely. While it is still possible to use Bitcoin to make transactions, the volatility of the price makes it a less than ideal choice for gambling.
Many people assume that since Bitcoin is digital, it has no tangible properties. While this may be true in a sense, knowing the exact amount of Bitcoin that you own can still be useful. For example, if you want to exchange some for cash, then being certain of the amount makes the process easier. In addition, knowing how much Bitcoin you have decreases the stress of losing coins as you might otherwise do if you did not know the value. In this case, it is better to avoid betting with Bitcoin since the consequences of losing money can be more devastating.
Use Another Currency
Another way to circumvent the limits imposed by the gambling regulators in many countries is to use another currency when placing your wagers. However, this comes with its own set of problems since most online casinos will not accept non-standard currency, particularly from smaller countries. Most sites will also blacklist your account if you try to use a banned currency. This can make it difficult for you to continue playing if you want to keep using currencies that the site does not accept. Most importantly, you will not know how much your winnings are worth in your own currency. If the value of your own money changes dramatically compared to the value of Bitcoin, then you could end up in a bit of a pickle. The last thing you want is to be informed that the money you are receiving is not worth what you think it is.
Place Your Wagers In The EU
One final consideration before you start placing your bets is where you will place them. If you live in a country that offers legal gambling opportunities, you should probably opt for an EU-based casino rather than one that is physically located outside of the European Union. This is because it is much more difficult for the government to regulate online casinos than land-based ones, meaning that the chances of your winnings being confiscated are limited. In general, EU-based casinos are more accepting of gamblers from all over the world, which is great if you want to try something new. However, if you play frequently you might want to consider signing up for a land-based casino that is licensed in your country of residence rather than trying to play at home. This is because most sites that specialize in online gambling will not allow you to play if you are located outside of the European Union. In addition, many EU-based casinos make it very easy for you to set up an account with just your email address. If you do not live in an EU country you should get your country’s representative to enter your data so that you can access the site. Sometimes it is impossible to verify an individual’s identity online so this is a safety precaution that all EU-based casinos take.
With all of that said, it is still possible to gamble online as long as you are aware of the problems that might arise. Just keep the tips discussed here in mind and you should be able to enjoy your time playing without any concerns. That is, as long as you stay within the regulations and limits that the site imposes.