The gambling industry is an ever-growing one, especially with the emergence of online gambling sites. These have exploded on the market all with different themes and features. Some are explicitly directed at women while others focus more on certain types of online casino games. What they all have in common, is that they turn over large amounts of money. Wherever money is involved there are people looking to take advantage of the situation. Therefore, more and more governments are looking into ways that can regulate and provide safety not only for the players but also for the casinos themselves.
Online Casinos are online versions of the real thing. In online casinos, players deposit money and then use the deposited money to gamble in different games. The most popular games in online casinos are Slot Machines and table games such as Blackjack and Roulette. Because of the peculiar nature of anything online, there needs to be some rules and regulations set in place in order to protect both the customer and the online business. As a security guard in a real casino would.
Without any rules or regulations, the casino can set unreasonable requirements, refuse to pay out to legitimate winners or use games that produce unfair outcomes. But it’s not only the casino who can act in fraudulent ways. The customer can also use online casinos to act in immoral ways, sometimes even criminal behavior can be seen by the online casino customers. They can create several accounts to launder money and/or to take advantage of bonuses.
In an effort to try to hinder fraudulent behavior from both parties, regulatory authorities have set up rules which must be followed. The rules are first set up to help the customers of online casinos and by doing that they also help the casinos themselves. A casino which has received a license from one of these regulatory authorities will be seen to have much higher status than a casino that has not and therefore they will attract more customers, which in itself is a benefit for the casino.
To acquire a remote casino license there are several steps which the company have to follow. Some regulatory authorities even demand that the company have some sort of connection to the country of which they are acquiring a license. One example of this is the need it has your part of the company’s computing power in the Curacao territory to receive a Curacao Gambling License.
A remote gambling license does not give a casino the right to operate anywhere, the country’s law is what regulates if a person from that country can access an online casino or not. Countries such as Poland, France and many of the states of the United States have forbidden their inhabitants the access to online casinos all together while countries such as for example The United Kingdom have restricted the access and only allow online casinos with a license from the UK Gambling Commission to operate within their borders.
It is important to note that some licenses are easier to obtain than others due to the fact that some countries have stricter gambling policies. Some of the regulatory authorities’ main concern is that the casino acts in a fair way to their customers while other authorities main concern is the discouragement of fraudulent behavior by the customer. It is therefore important for the customer to read up on the different gambling authorities as well as to read up on the online casinos.
With the number of online casinos on the market and the variation in reputation of the different licenses, it is very good that many new comparison websites have emerged. One of these is FindFairCasinos. Their aim is to provide customers with fair and trustworthy reviews of online casinos, games and gambling authorities so that the customer can make an educated choice before they start to gamble online.
One thing is sure, more and more online casinos are seeing the light of day and we are seeing bigger turnovers in the online gambling industry, therefore, we will continue to need regulatory authorities to be on the side of the customer and on the side of legitimate casino companies to make sure that no one is being taken advantage off.
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