Honesty and transparency are the key elements of trust in any business. And it is no different in the online gambling sector either. Trust runs the business. But how do you earn the trust?
The answer: A proper gambling license.
Players would prefer licensed sites to participate in online gambling games. And it’s not hard to check out if the casino you’re trying to play in has a license. For instance, did you know you check out the best curacao online casinos here?
Online Casinos Need a Proper Gambling License
Love for casinos is indomitable. Online casinos have proven to be profitable for casino operators, and an easier way to have fun for users. A report from Business Wire projected that the global gambling market would reach $565 billion by 2022 at a CAGR of 5.9%.
What are the Benefits of Betting on a gambling licensed site?
Gambling licenses don’t just make the gambling site compliant with international laws. They also make the site more appealing to users. And as someone who loves to gamble online, don’t start creating an online account without checking the license.
Here is why.
- You’ll know it’s more reliable to send and receive money and rewards
- A reliable gaming license adds to the site’s authority
- You know the gaming platform is legal in several international jurisdictions
- You may even find the gambling app on Google Play and the iOS store
Most importantly, you wouldn’t have to worry about your account being randomly suspended, with all your money.
How Gambling Licenses Make Online Gambling More Secure for Users
Online gambling businesses need to abide by certain terms and conditions to obtain a gaming license:
- Need to share the company structure and its finances
- Auditing reports and policies need to be submitted
- No involvement with illegal activity is tolerated
- A lucid description of the games offered by the site should be clear
- The business owner’s exposure to finance is necessary to secure the stability of the business
Gambling Jurisdictions
What are the top gambling jurisdictions that you should look for? Here are some of the names you should watch out for, if you’re looking for a reliable casino site to play in.
- Curacao is the oldest gaming jurisdiction that provides a one-to-one license that allows businesses to set up online casinos, sports books, and more.
- Malta Gaming Authority issues 4 types of licenses to lotteries, online casinos, and more depending on which vertical the business wants to register under.
- UK Gambling Commission is one of the biggest licensing jurisdictions in the iGaming industry, issuing licenses, preventing money laundering, and protecting fair practices.
- Alderney Gambling Control Commission ensures that its regulatory and licensing activities meet the highest international standards.
- Kahnawake Gaming Commission issues licenses that guarantee the responsibility and fair practice of the business.
Online casino sites need a license – and you shouldn’t trust one without it. Spend your money on sites that reward you higher for your time. And on games that have a higher RTP ratio.
