How to Keep Your Money Safe When Betting Online in Canada

How to Keep Your Money Safe When Betting Online in Canada

If you are new to online betting and are interested in placing your first bet, the one question you may have is whether online betting is safe. Online casinos and sportsbooks have put a lot of effort into making their online casinos as safe as possible. Even when you know that online betting is safe, it is still important to understand how to protect yourself and keep your money safe. The good news is that the steps you need to take to make this possible are simple, and we are going to explain them below.

Check the Site’s Security

When you sign up at an online casino and make a deposit, you have already provided the casino with your personal and financial or banking details to enable both of these. To protect yourself, you need to ensure that the casino uses top-notch security so that you know your personal and financial details are safe.

One of the first things you need to check is if the casino uses SSL encryption on their website. An obvious way to do so is to check if a locked padlock is displayed on the left side of your browser’s address bar. The padlock may be green or grey, depending on the browser. If it is crossed out, the website does not have SSL and thus you should not enter your personal and financial entails there. There are plenty of review websites that already lists safe and secure betting sites so this part could be skipped if you are using some of those sites to inform yourself (Source: https://www.safebettingsites.com/ca/).

Also, check that the casino has additional measures in place, such as robust firewalls and additional layers of encryption at the server level. If a casino has undergone an audit in the last few years, this information will be easy to obtain. Otherwise, you will have to rely on detailed reviews of individual casinos.

Remember that if someone is able to hijack your details and access your account to bypass the casino’s security, your money will be in jeopardy, and this includes money you may have in other accounts outside the casino.

Secure, Strong and Unique Passwords

Your bank account, credit card and other financial accounts are provided by companies that have top-notch security. These companies do their best to ensure they are not hacked and thus keep your details and money safe.

However, all of this will not do too much good if you use a weak and insecure password. Hacks happen all the time and hackers are able to get your email address. If you use the same email address on a casino account combined with a weak password, a hacker can gain access to your account easily.

Using a secure password manager that helps you generate secure passwords is a great way to ensure you are only using strong passwords for your account, including your casino account(s).

Use Two-Factor Authentication

It is encouraging to see that most casinos now require that all their users have two-factor authentication in place. Two-factor authentication uses more than one method of authentication to ensure you are the owner of an account before giving you access. For example, you might have to enter your password and a number or code generated by a two-factor app.

When you set up two-factor authentication, you ensure that no one else apart from you has access to your casino account. This goes a long way in helping keep not only your money but your other details safe. Some casinos also require two-factor authentication if you or someone else wishes to withdraw money from your casino account. This is an additional layer of security that you should set up.

Check the Casino’s Licensing

Checking a casino’s licensing is just one step into checking its reputation. Licensed casinos have undergone a thorough examination to ensure they are safe and operating legally. The security measures of such casinos are top-notch and there is little risk of losing your money.

With unlicensed casinos, there are no guarantees, and you can lose all the money you have deposited with them or won through them. This is because they can be shut down or change their terms at any time to restrict large withdrawals. Because there is no governing body behind them, there is no one to turn to, and thus you end up losing your money.

The good news is that you can check the license of any casino online before you start playing. Most casinos make this easy by displaying their licensing information on their website. For all other casinos, you can find this information by looking through the websites of major casino licensing and registration bodies.

There is no doubt that playing casino games presents some risk to players. This risk also extends to the money you deposit into your casino account, especially if you have not vetted a casino properly. Doing so is easy, as is taking the necessary steps to protect your money at an online casino.

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