Technology has made it really easy to build online games, like the mobile slot Eye of Ra, and much more so building an online casino. As such, there are hundreds, if not thousands, of online casinos today.
The question is: are they safe?
Regulation is a matter of extreme importance in gaming. The regulators keep players safe and ensure that online casino operators exercise fair business competition. More importantly, they are kept in check, ensuring that players are not cheated. This is done through licensing where casinos have to meet certain regulatory requirements. But why is this important? And what benefits do we get from this?
If you are a gamer, you definitely want to know who you are dealing with. Well, not personally, but at least you want the company to be represented by a real human being who will be put on the spotlight should something wrong happens.
A licensed casino is represented by a corporation, and a corporation is represented by its investors and Board of Directors. All of them are human beings, not dummy names, who will be held accountable for the actions that their casinos take. Any corporation is liable for what happens in its business. If there are casinos that cheat, the government should know who to chase.
If a casino has no license, then it simply means that it is working in the shadows—that there are unknown people operating it, people whose identities will never be found out should they turn their backs against the players. With a license, certain people can be fined, indicted or jailed, and justice will be served if a casino did something against the law.
Licensed casinos are regulated by the government. They cannot just release new games if these games were not checked for fairness. They cannot operate in all countries, but only in certain jurisdictions where they are allowed.
Why is this important?
An illegal gambling site can easily tamper its games and make the results favorable to the owners. Without a license, there is no government body that regulates their operations. Unlicensed casinos can also be used for money-laundering—they can use the gambling site as a front to funnel sales from drugs, human trafficking and gun smuggling.
But if a casino is licensed:
The government can inspect the source of its funds, how much money is disbursed, and so much more.
The government can check if the casino’s profits are believable. What this means is that if the earnings seem too high, the government will start to question them and check whether the games are rigged.
A license is also indicative that the gambling operators are compliant with the law. For example, if a country requires that the employees must be at least 18 years old, casinos are expected to comply. If the government requires that the employees are paid some minimum amount, the casinos are also required to comply.
The government checks these casinos for their companies with the law, and they are punished if they violate these laws.
If a casino is licensed, we are sure that it does not violate human rights, that it does not underpay its employees, and that they contribute to charity if the government mandates it.
A casino without a license can launch rigged games, and players will not know about this. But if it is licensed, it is required to provide proof of fairness for each game. What this means is that if you play a game like Eye of Ra online slot, for example, you know that the results of the games are random. This is crucial to players, as all gaming enthusiasts expect that gambling games are games of chance. While there can be games that require skill, the players still expect that the results are all random.
Without a license, nobody is policing the gambling operator. Can you just imagine how a casino can rig a game to its favour even at a mere 10% advantage? You will lose a lot, and the operator will rake in a huge amount of money.
Another aspect of player protection is security. The online casino keeps personal and financial information for each player. It has your credit card number, your billing address and your full name. If this information leaks, you are in trouble.
If a casino is not licensed, then you should have doubts about its security systems. A licensed casino has to go through rigorous testing by the government. It must be able to prove that it is safe, and that its systems are compliant to international standards.
Do not support a casino with no license. No matter how tempting the offer is, you are gonna get the bad end of the stick. If a casino is not licensed, it certainly is not operating with the player’s best in interest in mind. Stay away for them and choose only those that are licensed by reputable government bodies.