What Does It Mean to ‘Cover Betting’ in Online Gambling?

The betting side of most online casinos is one of the most important areas to look at if you want to understand what is going on behind the scenes. In most traditional casinos, the house always wins and the house edge is pretty high. However, in the online world, players have more of a chance of coming out ahead. This is mainly thanks to advanced technology and increasing player-friendly features. In this article, we will discuss what does it mean to ‘cover betting’ in online gambling, including examples of coverage and the role it plays.

What Is The House Edge?

The house edge is the percentage of money that a casino takes in compared to the amount of money wagered by players. For example, if a casino takes in $100 and the player money is $500, then the house edge is 20%. Most people assume that the house edge is the same everywhere, but this isn’t necessarily true. In most cases, online casinos have a much lower house edge than their traditional counterparts – typically about 2% or 3%. The reason behind this is quite simple: the house edge is calculated by multiplying the slot machine odds by the number of coins in play. Since there are fewer coins in play, the house edge is lower.

An online casino’s house edge depends on a number of factors, including whether or not the casino uses random number generators (RNGs) to determine game outcomes, the denomination of the coins in play, and the maximum limit of individual players’ investments. In the previous example, even though there are five dollar coins in play, the house edge is only about 2.6% since there is a maximum limit of $5,000 per player. In the case of a $10,000 bet, the house edge would be about 4.5%. If the player decides to bet the maximum amount, the house edge would be 7.5% or 8% depending on whether or not the casino uses RNGs.

How Does ‘Covering’ Work In Online Gambling?

The concept of covering in online gambling is fairly straightforward. When one player bets the maximum amount on a certain slot or table, the other players ‘cover’ or contribute the amount that was bet. For example, if player 1 bets $5000 on a certain slot and players 2 and 3 bet $1000 and $500 on that same slot, then the next player would cover the $5000 bet plus the $1000 and $500 bets for a total of $10,500. This process continues until someone wins or all players have lost enough to neutralize the initial bet. In this case, since no one won, everyone lost and the player who originally placed the maximum bet is said to have ‘covered’ or ‘backed’ the bet.

The concept of ‘covering’ in online gambling can be applied to any game outcome, whether or not someone won or lost. In most cases, the maximum bet is placed first, with subsequent bets covering the previous bet. If a player wins, they keep their winnings and the bets are cleared. If someone loses, they lose their investment plus the bets that covered them. In some cases, the player who lost may choose to ‘cover’ the initial bet or at least some of their losses. In this way, the other players’ money helps to protect them from the vagaries of fortune. This is a fairly common practice among the more experienced players who know how volatile the online gambling world can be. It is also seen as a sign of trust and respect among the players since they are aware of the risks that they are taking and the amount of money that they are putting at stake. It is seen as an act of good faith that the other players are willing to cover the losses of the first player. In some cases, the betting will continue until someone wins or all the money is exhausted.

Now that you understand the basics of ‘covering’ in online gambling, let’s take a closer look at how it is done.

Where Do The Money Come From?

The first question that you need to ask yourself is where do the money come from? In most online gambling cases, players’ investments are stored in one or more of the following ways:

  • Accounts at a financial institution (e.g., a checking or savings account at a bank)
  • Cryptocurrencies (e.g., Bitcoin)
  • Electronic chips (e.g., prepaid credit card or PayPal accounts)

In all of these cases, players’ funds are kept in a ‘vault’ or ‘digital wallet’ which is accessible from anywhere with an internet connection. If someone wants to play at a specific site, they may have to deposit funds into their account first or use a credit card.

Why Is ‘Vaulting’ Important?

‘Vaulting’ or storing player’s funds in a digital wallet is a safety measure that protects players’ funds from being stolen or lost. If a hacker or rogue player tries to drain a player’s account, they would first have to drain the digital wallet where the funds are stored. In doing so, they would discover that the funds are not actually stored on the site but rather in a separate location. This is one of the reasons why so many online casinos use third-party payment processors like Paypal or Bitcoin and electronic chips instead of physical cash or checks. It is also one of the reasons behind the increasing popularity of e-currencies like Bitcoin which can be extremely difficult for a hacker to steal. While physical cash stored at a casino is not entirely unattractive to someone trying to steal, it is much easier to obtain for a hacker to obtain a large sum of electronic money (e.g., Bitcoin) than it is to walk away with a large sum of cash.

How Do I Protect Myself From Rogue Players?

One of the most important things that you can do to protect yourself from being cheated by a rogue player or someone with ill intentions is to keep your eyes open. It is a good idea to do some research online before playing and to look for reviews of the casino or gaming establishment. In many cases, you can find reviews of casinos that are posted by other users or organizations that are independent of the casino itself. By reading these reviews, you can get an idea of whether or not the casino is legitimate. You should also make sure to look for a disclaimer at the end of the review to make sure that the review was not paid for or endorsed by the casino in question.

What Is A Legitimate Online Casino?

Based on the information that you have gathered, it is now time to determine whether or not the casino in question is legitimate. In order to do this, you need to look for several key indicators, including: