Although it enjoys massive success, online gambling remains a mystery for a good portion of the thrill seekers out there from a legal standpoint. Truth be told, there shouldn’t be many questions around what must constitute a straightforward online gambling legislation. In reality, iGaming afficionados do not yet enjoy such a long overdue “luxury”.
One of the reasons for why these legal ambiguities have arised over the decades is represented by the tender age of online gambling itself. It took off with the technological advancements that allowed our devices to become increasingly more complex, supporting a wide range of virtual entertainment, leaving lawmakers behind. Therefore, it took a while before world’s governments started to pass laws that properly addressed online gambling. Before that, they employed irrelevant and outdated laws with some countries still relying on them today.
Even so, much has changed for the better in recent years. Granted, there is still a ways to go until one can consider online gambling a well regulated industry across the globe, but much progress has been made in recent times. While playing the pokies brings in the wins, a solid understanding of the legislation that surrounds online gambling will keep both of you and them safe.
The importance of online gambling regulations
First thing online gambling implies: money. Every time players engage in online gambling, they are entrusting the companies behind the URLs with hard-earned cash. Consequently, this represents the main point of regulation. Players need to be sure the online casinos they interact with are safe and fair. But these represent only two of the key factors online gambling regulation focuses on. In total, there are three main pillars the iGaming legislature is based upon:
- Lawful conduct of operations;
- Ethical conduct of operations;
- Fair conduct of operations.
Therefore, any casino that wants to operate on the web must be compliant with all of the above. This, in turn, ensures players are met with ethicality in a law-abiding environment. As far as money is concerned, the regulations focus against money laundering and forbid underage access to online slots.
Also, there are strict measures in place against misleading advertising. From the customers’ point of view, they should be protected by transparent terms and conditions, fair odds of winning, airtight banking options, and data safety measures. Winnings are also to be entrusted to the players within reasonable timeframes.
Here is where the regulatory bodies and online gambling jurisdictions come into play. If anything, it sounds way too complicated than it actually is.
Regulatory bodies and online gambling jurisdictions
Online gambling jurisdictions are represented by those regions where online gaming has been made legal by the government. Regulatory bodies are represented by organizations in charge of regulating iGaming businesses based in such regions. These entities are also known as licensing authorities, since they offer permits to the companies they greenlight. There are several prominent online gambling jurisdictions and respective regulatory entities across the globe:
- United Kingdom with the UK Gambling Commission;
- Curacao with the Gaming Control Board;
- Isle of Man with The Gambling Supervision Commission;
- Alderney with the Gambling Control Commission;
- Malta with the Malta Gaming Authority;
- Antigua & Barbuda with the Financial Services Regulatory Commission.
In order to operate with full legal backing, online casinos must clear a number of licensing requirements. Depending on the issuing regulatory body, these may vary from one jurisdiction to another. However, there are some that persist across all.
- Suitability of executives and owners.
- Fairness of the games provided;
- Employing responsible gambling measures;
- Transparent accounting procedures;
- Handling complaints;
Well-established and serious newly-emerging online casinos will display their license on the website to make it as visible as possible they are in accordance with the law. When in doubt, take a peek at the footer, as there is where the statement is usually displayed. Play safe and good luck!