(CNBNewsnet)(January 10, 2019)--Nowadays, we are witnessing a massive shift in the interests and preferences of gamblers from land-based casinos to online casinos, where players can access almost any casino from around the world through their smartphone, tablet, desktop, or laptop. However, due to the exponential rise in the number of financial scams and internet frauds, it is highly imperative that you consider the various regulatory and licensing attributes of an online gambling service provider before committing your money to the cause. There are several online casino resources such as topcasinoonline.com, which are dedicated to reviewing the best web-based casinos that are licensed by competent authorities to ensure the safety and welfare of the players. Being proactive in your choice of a gambling company can make a world of difference in ensuring the safety of your personal and financial information.
Modern regulatory and licensing aspects of gambling through online gambling companies, as well as brick and mortar casinos, are primarily controlled by the gaming authorities that work under the supervision of the Government of a particular country. Therefore, players can count on these organizations to regulate and prevent any malicious activities that may be perpetrated by the different casino operators. There are several features and guidelines by which casinos are graded according to their regulatory status, but we will take a look at how online casino regulation is relevant from a player’s perspective.
Fairness of Games
One of the significant concerns of online casino users is the fairness of games, as they highly doubt the authenticity of the results that are generated by a piece of software that is designed by the casino. Casino rigging and result manipulation is indeed a severe concern in the online gambling industry, which is why a regulated casino offers a far superior and reliable service than any unregulated operator. Fairness of the games is determined through various audits and independent evaluation of the software, especially with Random Number Generators employed by casino software and eCOGRA seals of approval, which genuinely result in a consistent gaming environment. As part of their licensing requirements, regulated online casinos are also required to verify the randomness of their gaming software through an independent auditing process, which should provide a trusted platform for online players to enjoy their favorite games.
Safety of Deposits
Another important aspect of online gambling is the security of funds that are deposited at the casino. It is the responsibility of a company to follow the best protocols that ensure the safety of their clients’ personal/financial information, a gaming environment that enhances privacy, and fast withdrawals when initiated by the client. Licensed casinos will always give priority to the safety of players’ funds by holding them in segregated accounts, all the while allowing free and unhindered access to funds without stipulating any indifferent playing conditions.
Regulated web-based gaming establishments also incorporate state of the art encryption protocols for complete user privacy and security. Since most casinos employ online interfaces that use a web-browser-based platform for gaming, it becomes even more crucial for players to be protected from the persistent attacks that are organized by malevolent agents against the gaming community.
Protection from Scams
Online gambling is sometimes at the epicenter of numerous internet scams and fraudulent agents, which can make it incredibly tough to find a credible company. Therefore, by choosing a regulated casino, you can be assured about the authenticity of a service provider, but only if you can verify the necessary licenses and regulations that have been issued by industry-approved gambling regulators. A regulated company also faces strict sanctions and penalties if it is found to break the law, which further help users to avoid scams and dishonest operators.
Casino Regulatory/Licensing Agencies - The Global Picture
There are numerous casino regulators in the market that offer excellent protection for players. The most popular gaming regulators include the Gambling Commission of the UK, the Malta Gaming Authority, the Gibraltar Gambling Commission, the Curacao eGaming Commission, the Isle of Man Gambling Supervision Commission, the Kahnawake Gaming Commission, and the Alderney Gambling Control Commission. In the United States, gambling is regulated by the Nevada Gaming Control Board, the New Jersey Division of Gaming Enforcement, and the Panama Gaming Control Board. Although these organizations are considered to be the very best gambling licensing agencies in the market, there are also other agencies in countries such as Macau, Cyprus, Vanuatu, Belize, the British Virgin Islands, along with other parts of Europe, Asia, and Africa.
The laws of online gambling are different for each country. The rules of gameplay, the regulations, the methods of money transfer, and even the payouts can differ according to the local laws and regulatory framework. While some countries have outright banned the concept of gambling, some nations have created an open environment that has enabled casinos to thrive. In some countries, land-based casinos may be prohibited, but their citizens are free to indulge in online gambling through international casinos. Therefore, players must always understand the importance of regulation in online gambling, before depositing their money at a web-based operator.