Online casinos work on certain principles – some of which are set by the regulatory bodies while some dictate the functioning of the online gambling platform. One thing which is a constant through every online casino is the use of limits on the bets. Every online casino has a minimum and a maximum limit set on their deposits, withdrawals, and bet amounts. The reason for this can be more than one. Still, it all boils down to one main reason: casinos always place themselves in the position of advantage, thereby maximizing their chances of winning by restricting gamblers’ transactions and bet amounts.
The key intention behind setting various limits is to restrict problem gamblers from indulging in risky deposits that could lead to piling debts and to follow the best KYC/AML practices required by the government. For example, the United Kingdom Gambling Commission has policies such as GamStop, GamBan, and GamCare designed to stop problem gamblers from financial pitfalls. Before we understand why casinos set limits at all, let us understand what limits are in the first place:
Types of Limits
There are different types of limits on any independent online casino based in the United Kingdom or other countries. As we mentioned earlier, the operator of the online establishment may place a limit on withdrawals and deposits. There are limits on the bets that gamblers place on the games as well. The casinos may decide what the betting limits are and the limits on the bet amount set by the individual games in the gaming gallery.
A table limit is a minimum and maximum limit on the betting amount available by gamblers. The gamblers have to place a bet within the bet limits such that the gameplay can be optimized for profits. Table limits can be of two types – maximum and minimum table limits.
Minimum Table Limits
Minimum table limits are the lower limit set on the betting amount during gameplay. This means players can place a bet that is only above the minimum table limit. An online casino controls the kind of gamblers they want at a table using their minimum betting limit. If the minimum table limit is set high, it is clear that the game demands high rollers who like to gamble big.
In the case of games that have a low house edge, they often tend to have a high minimum limit. In the previous days, offline casinos would often have low minimum table limits, which would result in large crowds around the tables. As the years have passed, the casinos have brought more stringent rules into their functioning, restricting gamblers on the floor.
In usual cases, all table games give the house the larger advantage. As a result, larger bets on a table mean larger profits to the house. Thus, operators keep the minimum table limit relatively low to ensure that the seats at the table are full. Low minimum bet limits apply in the case of slot machines. Slot machines are designed to attract players who bet low and gamble slow. Thus, slot games tend to have a wide range of bet amounts with more denominations.
Maximum Table Limits
The maximum table limits decide the highest bet a gambler can place when he is at a table. This, in turn, decides the maximum gamble the house can take if it encounters the highest bet amount according to the betting limits. In easier words, it is the most amounts that the casino can spare in a particular game. High maximum table limits attract high rollers who gamble to win money. Furthermore, bets above the maximum table limit could result in a huge loss for the house if the gambler makes a win.
It is a popular belief among the worldwide gambling community that the maximum betting limit was set to restrain the Martingale Betting strategy.
Reasons Behind Limits at a Casino
The reason for limits at a casino is quite straightforward. They have been mentioned below:
- The house always has the advantage. Thus, it optimizes the win for itself and the loss for the player.
- If the player wins, the house calculates the loss it can suffer without undergoing irreparable damages.
- To protect vulnerable players from gambling losses (self-exclusion limits)
- To restrict high rollers from trying the Martingale Strategy to win.
- To restrict large sums of money through the online casino, regulating money laundering and other fishy business.
- To allow one and all to participate according to their own needs and potential.
The table limits at an online casino help to accommodate more players by maximizing the chances of wins on the house’s side.