Hello there! Ever wondered what’s all the fuss about all these certifications and licenses? I have. And I will tell you what they are and why they are important.
Who are These Guys?
The very first online casino was launched back in 1994 in Antigua and Barbuda. A lot of countries were apprehensive and did not allow such a thing. After all, our governments only wanted to protect us. But the success of online gambling in terms of revenue changed how our lawmakers think. As such, governments in Europe put up departments to monitor and regulate online casinos. Later on, UK, Canada, Australia, and others joined the bandwagon.
Licensing is one of the key important activities of these organizations. The UK Gambling Commission and others need to know who the owners are and if they are compliant with the law. If they cheat on a customer, they will have financial and legal consequences. More information about gambling organizations you can find here.
Benefits for the Players
The main advantage of a licensed casino is a credibility. A gambling operator that is regulated and certified is an indication that the games are fair. In addition, these documents are proof that they are legitimate businesses and not crooks.
Some of the common gambler advantages are the following:
- Guaranteed withdrawal – legitimate casinos are mandated by law to allow players to give them back their money, provided that the player is also compliant to legal expectations. For one, you cannot be a money-launderer. If there is enough evidence to suspect that you are, then you are in trouble.
- Consumers protection – players can complain to different international commissions if they have reasons to believe that they are victims of fraud or cheating.
- Safe and secure personal and financial information – all your data are encrypted and secure. Part of the licensing and regulation requirement is to have a system that is protected from hacking.
- Fair Games – the governing bodies regularly check the games if they are truly randomly generating numbers. There is no way that a casino can rig a game. If it did, the government will shut it down.
Cost of Licenses
There is a different license cost for each jurisdiction. The average is $75,000 per year. The gambling house also has to pay taxes (usually, about 3%) from all its winnings. As you can see, legitimate casinos are real businesses that pay tens of thousands of dollars just to be able to operate. And man, we are just talking about fees; we are not yet discussing the game systems and software that the operator has to pay for.
A non-licenced casino cannot be identified. And people who operate non-licenced gambling facilities can easily run away with our money. You will have no recourse to trace where your money went.
Government organizations were put in place to protect the consumers like you and me. If you ever have a doubt whether a casino is legit or not, call the online Casino support & feedback. Take down notes on what they say and do your due diligence in researching if the company is duly registered and licenced. Play safely & be gamble aware.