How Casino Sites are Regulated
Just as you would not put your money in an unregulated bank, you most likely do not want to roll the dice in an unregulated casino. For players new and old, it is understandable to have concerns about the regulation of casino websites. But if you’re a new player, you may not realize just how important this is.
Regulated casinos are those that are backed by a governing nation or authority. Like land based casinos, those which operate on a virtual basis must be licensed if they are to be deemed ‘legal. As much as regulation may seem unimportant, unregulated casinos could cause big problems you down the road, including irreplaceable loss of funds.
Taxing and Regulation
Taxing online casinos is a leading reason for regulation. However above anything else, the player is given protection. Once a casino is licensed by their jurisdiction, they will be required to follow various rules, including the payment of taxes. This revenue is important for nations that offer the regulation of casinos and another reason why these governing bodies ensure the utmost protection for players.
Why it is Important to Play in a Regulated Casino
A regulated casino will abide by the gambling laws within its jurisdiction. That means players are legally allowed to have fun playing games for real money. It also means that you can log in and play safely. Online casinos go through a lengthy process to be licensed, so they will not allow misconduct of any kind. This ensures that players from all parts of the world can trust the site their using. And that means you can play confidently.
How the Different Casino Jurisdictions are Regulated
The jurisdiction of an online gambling site can be an important factor in deciding the sites reputation, its transparency and the available recourse for players, should they be involved in a dispute. It also includes the type of software that they use, their payment methods and the overall speed of the site and any promotional offerings.
When applying for a license, the gaming jurisdiction will check three areas of the online casino. This includes the promoters background, the fairness of the games and the intent or methods for paying the winners.
Enjoying the Island Life
For the most part, online casinos are established in small, island nations. In a nutshell, they are businesses that have been legally established outside of the larger countries. The regulating laws of online casinos will vary from nation to nation. For example, some of the jurisdictions will allow online casinos, but not the ones that are land-based. More importantly, some of the jurisdictions enforce strict controls on player safety and the overall integrity of the operator. Others are more relaxed, but still offer good protection for players. Then there are those which may be referred to as “rubber-stamp jurisdictions”. These are considered to be legal, but may not offer much more than the license and low tax rates.
The choice destinations for establishing a regulated casino are Malta, Kahnawake, the Isle of Man, Antigua and Barbuda, Alderney, Curacao and Gibraltar. Each one of these jurisdictions provides different levels of regulation, but they all have an established reputation for ensuring the smooth operation of the online site.
In general jurisdictions under the E.U. are more trustworthy than those based in the Caribbean. The reason being is because these casinos are heavily scrutinized by the E.U. and must follow a strict protocol. It must be noted that a casino outside an E.U. licensing jurisdiction is not any less reputable.
The Role of eCOGRA and TST
You will see ‘eCOGRA’ and ‘TST’ on many of the leading online casino websites. Both offer assurance to players through rigorous inspection and testing.
eCOGRA stands for eCommerce and Online Gaming Regulation and Assurance and is an independent, non-profit making standards authority which regulates the gaming industry, specifically ensuring fair gaming, player protection and responsible site conduct. In short, it is an authority to make sure casino is fair and honest. When a person visits a site with the eCOGRA badge, he or she can be satisfied in knowing that the site is reputable, responsible and trustworthy.
The TST, or Technical Systems Testing, is an internationally recognized and independent accredited testing facility for both brick and mortar and online casinos. The organization audits and certifies online gaming establishments, ensuring that their operations are fair, secure and auditable. They will test the Random Number Generator (RNG) and any other exploitable aspect of the site’s software. They will verify that the casino complies with current industry standards and meet the requirements imposed by their jurisdiction. Lastly, the TST will test the casino’s security protocols to make sure that site is 100% secure. When the software of a gaming site has been tested by the TST, all stakeholders are confident in the credibility and accuracy of the site.
Both these seals, and those of other organizations, can usually be found in the footer of an online casino website. Not all sites will display them; however, it does not mean they’re unsafe.
Why it is Safe to Play at a Regulated Casino
The fact that a gambling site has been licensed, regulated and certified, definitely offers the best player protection and services available. Trusted third parties have carried out thorough analysis of the promoters, software, security and method of payment.
A reputable regulated casino will ensure the money transfer process is safe and secure. You want to make sure that the site you choose uses 128-bit SSL encryption, which in short means that all data is encrypted making it impossible for an outside party to access it. Alternatively, a casino will use "eWallets" or third-party services such as Moneybookers, PayPal and Neteller. These will have their own SSL and are trusted by millions of retail outlets around the world. Essentially, with a regulated online casino, you can “roll the dice” with ease because your cash is safe.
In closing, you may try out hundreds of gambling sites, both regulated and unregulated, but in a short time, you will no doubt discover that a regulated casino is the best way to go.