With the implementation of technology in the gambling sector, the online casino community is growing yearly and millions of players are accessing their favorite games daily. However, it is a good starting idea to get familiar with your casino and make sure that you are playing in a safe and secure environment. Licensing in casinos has become crucial to solidify the legitimacy of the casino. This means that only the best and most reliable casinos get licensing from the regulatory bodies.
Regulation and licensing are vital since it prevents the casino from exploiting its player base and adds a string of reassurance between the operator, casino and the community. Before signing up for playing and depositing money it is vital to lo ensure that the casino you are playing at is reviewed by the necessary regulatory bodies. We at the GamblingGuideBook have a top priority to inform the gambling community and new enthusiastic players of how the online system works so that they can get the best out of the casino world.
Why Casino Regulatory Bodies are Important?
Playing at a well-established and regulated casino is an obvious choice. However, many players, especially new ones, think that if they can just play that would be enough. In reality, a casino that has been regulated is much safer than one that it is not. Having a legal license and being through the regulation process, the casino means that it has passed all state regulations and is approved by the corresponding country. There are many regulating bodies, but below we will look at the most prominent ones from around the world.
Nonetheless, some players often ask themselves the question: “What will happen if I play at a non-regulated casino? Is it that big of a deal? The problem here comes from the fact that non-regulated and non-licensed online casino does not take responsibility for your personal information and funds that you might have deposited. If your personal information or money happens to be exploited, it is very complex to file a complaint or take the casino to the necessary legal matters.
Having said the aforementioned factors, below you will find the most well-known casino regulators around the world.
Malta Gaming Authority
The Malta Gaming Authority was founded in 2001 is probably one of the most well-known regulators in the industry. It specializes in regulating European casinos and often if a casino has its badge of approval, then the casino is secure and legal. The key functions of the Malta Gaming Authority are to regulate casinos, issue licenses, and acts as a medium between gambling players and casinos. Its top priority is to protect the players, their personal information, and funds.
UK Gambling Commission
The United Kingdom Gambling Commission was founded in 2007. It is almost entirely exclusive regulating casinos in the UK, but it does not get deeply affiliated with sports betting and bookmaking. The key mission of the UK Gambling Commission is ensuring the safety of gamblers and issuing out licenses for the respective UK casinos.
Kahnawake Gaming Commission
The Kahnawake Commission has issued licenses to over 50 operators and works closely with roughly 250 casinos in Canada. It is currently the biggest regulatory body in North America for online poker, sports betting, and slots. The Commission was founded back in 1996 and its jurisdiction protocol follows the right holds by the Kahnawake jurisdiction. The best part about Kahnawake is that is a low-rate tax Commission, which makes it a great option for new operators since the fees required are minimal.
Curacao Gaming has been organized and created in 2002. It directly cooperates with the industry’s top operators. Curacao’s top mission is to issue out licenses to operators. However, its duties are not limited to that. Curacao also deals with Banking assistance such as payments, transfers, and the legal side of that matter. It also hosts other casinos and works towards the protection of users.
To sum it up, regulatory bodies are a crucial part of the online casino world. If players seek to have the best gambling experience they should get familiar with whether the casino they are playing at is licensed. Licensing simply ensures that your funds and personal data will not be exploited, meaning that you will gamble in a secure environment.