PHS online casino

PHS Casino Rating

Find The Best Casinos in Philippines

PHS(Philipino’s) Casino Rating brings together the top casino brands in the Philippines and introduces you to their promotions one by one. If you want to learn about casinos in the Philippines, and more casino knowledge teaching, you must not miss it!
Game Type of Online Casino

PHS Casino Rating

Comparing The Best Casinos in Philippines

PHS(Philipino’s) Casino Rating brings together the top casino brands in the Philippines and introduces you to their promotions one by one. If you want to learn about casinos in the Philippines, and more casino knowledge teaching, you must not miss it!

Online Casino : The Pros and Cons of Crypto Gambling

Blockchain technology has dramatically changed online transactions. Online gambling is much more fun these days thanks to cryptocurrency payments. Here you will learn all about the pros and cons of crypto gambling at online casinos.
Online Casino : The Pros and Cons of Crypto Gambling

Foreword

Blockchain technology has dramatically changed online transactions. Online gambling is much more fun these days thanks to cryptocurrency payments. Most hybrid casinos accept both fiat and cryptocurrencies. Yes, the difference between the two payment methods is as clear as night and day. Here you will learn all about the pros and cons of crypto gambling at online casinos.

Advantages of Crypto Gambling

Here are some of the advantages of playing online casino games with cryptocurrencies. Keep in mind that most of the casinos listed here support several forms of digital payments.

Privacy

All players wish to remain anonymous when gambling online. This is what cryptocurrency gambling offers to the greatest extent. Cryptocurrency is a decentralized payment method. Therefore, there is no government, central bank or financial institution monitoring transactions. This means that the online casino will not ask for any financial information before processing the payment. This is especially true in strict crypto casinos.

Faster transactions

Privacy and faster transactions go hand in hand when gambling with digital coins. Generally, transactions are processed faster at crypto casinos than at standard gambling sites. Why? As mentioned earlier, banks and other middlemen do not facilitate crypto transactions. This eliminates any waiting time you may experience with other payment methods such as credit/debit cards. While deposits are instant, withdrawals take only a few minutes to complete.

Zero limit

In some gaming jurisdictions you will not be able to pay with credit/debit cards, PayPal, Skrill etc. A good case study is in the UK, which banned credit card gambling in 2020. Not so with crypto gambling. The problem is that most governments have yet to regulate crypto payments. Therefore, some offshore casinos are happy to offer this type of gambling in restricted areas. However, do not use it for malicious purposes as the authorities will still track you.

Wider variety of games

With cryptocurrencies, you can play almost all games at online casinos. But things are only going to get better as some game developers such as NetEnt, Microgaming and Play’n Go offer games exclusively for crypto players. Like typical casino games, these games are proven fair. Interestingly, players can even check game results using cryptographic hash functions. Of course, this adds another layer of transparency.

Bigger bonuses and promotions

Playing games at online casinos allows players to receive tons of bonuses and promotions. Both new and loyal players can get rebates, deposit bonuses, no deposit bonuses, free spins and more. But the difference between crypto bonuses and standard bonuses is size. Often, crypto winnings can run into the thousands of dollars, especially when wagering with higher value coins like Bitcoin. But as always, be sure to read the bonus terms and conditions carefully.

Improve security

There is no denying that most payment methods at casinos are safe and secure. After all, players must go through an identity verification process before they can withdraw any winnings from the casino. But blockchain technology is even more secure than SSL encryption. The ability to decentralize control provides an additional layer of security. Additionally, crypto users cannot transfer funds repeatedly, as the system can only execute one transaction at a time.

Disadvantages of Crypto Gambling

Cryptocurrency gambling isn’t all pomp and color. This method of banking also has some disadvantages.

Volatility

If you’re an avid follower of cryptocurrency news, you’re aware that this has been one of Bitcoin’s most challenging years. This year alone, the popular digital coin has been trading between $30,000 and $65,000. Now suppose you deposit BTC into a casino while trading $50,000, only to find that the value has dropped to $49 during a withdrawal. Of course, this means a big loss for the players. But vice versa.

Limited access control

So far, cryptocurrencies have generally been viewed as lacking government regulation. While this means unparalleled privacy and fast transactions, it also means less secure transactions overall. But on the plus side, most crypto casinos are licensed and regulated. Those without any proof of license are also good options, though if anything goes wrong, you’re on your own.

No support or refund

Most digital coins do not have dedicated support systems like traditional payment methods. Therefore, players cannot make complaints about transaction delays, conversion rates, etc. Also, once a transaction is initiated from a crypto wallet, it cannot be reversed or refunded. So always enter the correct address to avoid losing your hard earned coins.

Conclusion

The benefits of crypto gambling outweigh the disadvantages. All casino players are willing to pay any price to enjoy instant transactions, anonymous games, higher bonuses, and other perks associated with crypto gambling. Keep in mind that the lack of support for resolving transaction issues is a concern. Nonetheless, crypto payments are the future.

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Most Common Online Casino Scams

There are a variety of different scams that you must be aware of before playing online gambling games. That’s why we’ve prepared a checklist of online casino scams to help you figure out how you were targeted and what the scammers are targeting.

Sadly, Philippine online casino scams abound. Therefore, if you do not take precautions, you may suffer losses.

Here are some of the most common ways casino players get scammed:

Deposit theft is arguably the most common scam and unfortunately very common. Sometimes, players make deposits, but their funds never show up in their accounts. Or, they may receive a notification that their deposit was declined despite having enough money.

Bear in mind that this could just be a glitch or a one-time accident. But if this happens to you, please contact customer support immediately.

Online gambling scams can take the form of casinos that don’t pay. Here, players win money, but the site claims they don’t meet the wagering requirements for withdrawals, even if they do. Alternatively, the site might say that there was an “error” with the deposit.

If you still do not receive your bonus after meeting all the requirements, you are most likely being scammed.

Since most online casinos offer some type of bonus to convince players to play, some scammers often take advantage of this to their advantage. That is, they create fake offers that look too good to be true (and they are!) and trick gamblers into depositing money where they don’t get any benefit.

Of all the online casino scams in the Philippines, this one is probably the most difficult to avoid. When creating an account with an online casino, you will be asked to provide personal and banking information such as your legal name, address, date of birth, social security number, and credit card information to proceed to the next step of the application process.

Unfortunately, hackers and scammers can access this information and steal your identity or commit other types of fraud.

When most people hear online gambling scams, they think of malware. This is for good reason, as hackers can steal your information by infecting your computer. This type of malware can give strangers access to your personal data, who can threaten you with money (ransomware).

Here, the best thing you can do is pay attention to the links you click and the websites you visit, and install a good antivirus program. Remember, phishing is a scam, so if you find those responsible, they face serious consequences.

Some scammers create fake online casinos and manipulate the games so that you never win. By doing this, they encourage you to keep playing (and losing) in the hope that you will eventually give up or deposit more money.

Unfortunately, these scams are harder to prove than blatant frauds because casino games don’t necessarily give you the best overall chance of making money.

A sure sign that an online casino is a scam is that it doesn’t have an effective customer support team. Usually, this means that if you run into any problems, you won’t be able to contact anyone for help, thus losing your money.

Fortunately, you can easily check the response rate of any casino’s customer support representatives before you sign up, just by asking them a few questions about the casino. If they never respond or take days to respond – take a detour.

What to do if you encounter online casino scams?

If you think you’ve been the victim of an online casino scam, there are a few things you can do to make sure it doesn’t happen to anyone else:

Spread the word

Without a doubt, one of the best ways to warn others about online gambling scams is to write about your experiences online. Everyone can look up anything these days, so you can be sure that whenever someone searches for a scam casino, they will be bombarded with negative reviews.

If you have real-life friends who are also gambling enthusiasts, you should also warn them about fraudulent casinos.

Contact the Casino's License Provider

If the casino is licensed by a reputable and legitimate organization, you can file a complaint directly with the company that issued the license. However, keep in mind that this may not always yield results. Either way, any action you can take is worth a shot.

Browse Gambling Blogs

Last but not least, you can sift through numerous gambling blogs and forums to determine what they have to say about the casino and what they review. Usually, these sites are filled with people sharing their experiences, good or bad, and this is what you need.

To help others avoid your plight, please post about the online gambling scam you have suffered and advise others not to visit the culprit’s casino.

How to prevent falling for online casino scams?

Fortunately, there are steps you can take to prevent falling victim to casino scams. If you follow these tips, you’ll probably avoid a headache, at least until you’re sure about the casino’s legitimacy.

Unsurprisingly, the most important thing you should do before committing yourself to an online casino is to do your research. If you follow a gaming platform, read its reviews and see what other people are saying. Of course, if there are more bad reviews than good ones, it’s best to avoid the site and look elsewhere.

Bear in mind that this could just be a glitch or a one-time accident. But if this happens to you, please contact customer support immediately.

With our roundup of malware and spyware scams, it’s wise to install an antivirus program on your computer to help protect you from online threats. After all, viruses are responsible for more than 11% of all cyberattacks and security breaches in the Philippines, so why not take some precautions so you can browse with confidence?

When you first log into a new casino, it’s always a good idea to make a small deposit instead of going all-in right away. That way, if the casino turns out to be fake and you fall victim to an online gambling scam, you won’t lose too much money. Yes, any lost money is unfortunate, but losing $10 or $1000 won’t hit you in the same way.

All legal online casinos have licenses issued by gaming regulators. Generally, you can find this information on the casino’s website, usually at the bottom. If you can’t find it or the casino doesn’t have a license, that’s a red flag.

Please read the casino’s terms and conditions before creating an account and entering sensitive information. Yes, all of them. By doing this, you’ll know exactly what you’re agreeing to and won’t be caught off guard by unfamiliar practices or requirements. If yes, you will have legal grounds to sue.

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