Investing in Bingo

Review of: Cyberbingo.com
Online bingo games:
Elliot Fishburn
Version:
NA

Reviewed by:
Rating:
4
On March 10, 2013
Last modified:March 10, 2013

Summary:

Great site for online bingo

Bingo, like many other games, has moved online. We often think of Bingo as a homey game played in community centers across the world. But it also has a more serious side as a betting and jackpot game. In traditional Bingo halls, the rules for winning and collecting winnings are different from place to place, but they are usually stated at the Bingo hall itself. If players get confused, there is an attendant who can help explain the policy.

Bingo

Bingo

When playing online Bingo, players can be at a bit of a disadvantage. Like in traditional Bingo halls, online Bingo sites clearly state their financial policies in a special section on their website. However, if they are unclear to you it is rare that someone can explain them. This article will seek to explain some of the common practices found among online Bingo sites so that you can make smart decisions about your betting.

The first thing to be aware of is that not all sites are reputable. Online Bingo attracts as many as 3 million players per day, and it is no surprise to anyone that there are scam artists on the internet hoping to cash in on this type of trade. A scammer will set up a real looking site that allows you to deposit money, but will never pay you if you win. The best way to spot them is to check out their discussion boards. Healthy online Bingo sites tend to attract a community of repeated players. If the players have stuck around, then the site is clearly operating a legitimate business. You can also try checking independent online Bingo sites and forums. They will be populated by players who frequent many sites and, most likely, have discovered the ones that are scams. If you don’t have much time, try typing in the name of your Bingo site and see if any posts have been made about it.

The second consideration is the withdrawal limits. Once you’ve found a reputable site you’ll want to look closely at their financial policies to determine just when and how much money you can withdraw at a time. Sites will often have a minimum amount that you must meet to withdraw your funds, and most will also have a maximum. This is to protect the site. First, the site wants you to stay invested. Having a short waiting period or barrier to withdrawing ensures that the players make some sort of commitment before sitting down. Second, the sites operate like a bank in that if everyone withdrew at the same time, or if they suffered a large withdrawal, they might shut down or be unable to meet the amount. By spreading large withdrawals over a set amount of time, the site has the ability to make money to meet its obligations.

So remember, before investing in any site, do your research. You’ll want to know if the site is reputable and that your financial information will be safe. You’ll also want to understand what its withdrawal policies are before you go to withdraw and find that you can’t. If you arm yourself with knowledge, you’ll enjoy the bingo game much more.

Gamble Aware (www.gambleaware.co.uk) is managed by the Responsibility in Gambling Trust, an independent charity which funds treatment, research and education about responsible gambling. The website has been developed by a Task Force made up of representatives from the Gambling Commission, DCMS, academia and industry.

Gary Beal

Great site for online bingo

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