Online casino licenses allow betting sites to operate in certain jurisdictions and regulate such casinos fair play, security, payouts, and more.
Enjoy Safe and Rewarding Betting Experience on Licensed Online Casinos
Reliability is important to every betting site. It develops trust and confidence between a player and the casino. For this reason, a gaming license is one of the key features that trustworthy Bitcoin casinos must have. It serves as an indication that a betting site follows strict rules and features stellar standards for online gaming.
Numerous regulatory bodies from different countries hold the responsibility in awarding licenses to qualified casinos. But not all licenses are created equally. Each of them has different standards and requirements. While some use strict measures, others grant a license with just standard casino features as their basis. To give you an idea on which of them follows the highest standards, you can refer to the list of licensing bodies below.
Top 4 Reasons Why You Should Play on Licensed Casinos
There are numerous betting sites online doing businesses without a license. Even so, playing on licensed casinos are more recommendable than betting on its unlicensed counterpart. Here is why you should sign up and play on license-holding betting sites.
1| Player Protection
You can ensure the safety of your funds, as well as your personal info if you are playing on a licensed casino. It offers top-notch security features that went under careful tests. In most cases, this type of casinos also offers alternative dispute resolution or ADR solutions to protect your rights as a player. Meaning, if you have an issue with a betting site, ADR presents a more convenient process to act on the given problem.
2| Wider Player Reach
A license grants a betting site the permission to run a business on certain areas. Some grants entrance to regulated markets like the US, while others do not. If you are residing in such areas, do not worry as some betting sites hold a license for you to get the chance on playing and betting online.
3| Fair Gameplay
Games are the heart of every online betting site. As such, it is important that each title gives you not only fun betting action but also give fair game results. A casino license guarantees a level of fair play to its games. In fact, such games use Random Number Generator (RNG), which ensure that no game results are rigged. On top of these, licensors carry out regular tests to these games. As a result, you can see to it that each title’s quality and fair play is up to snuff or even better.
4| Safe Online Betting Environment
With today’s technology, you can play and bet online instantly, through your desktops or phones. Sadly, this speedy transaction also brings risks like rip-offs or scams. Because of these issues, licensed casinos need to go under risk assessments and features some procedures and policies to ensure that their services are trustworthy and that they can protect the privacy of their player data as well.
Betting sites can still offer wagering options even without a license. But keep in mind that placing your bets on licensed casinos somewhat gives you a guarantee that your info and funds are in good hands.
3 Common Requirements Licensed Casinos Must Comply
Getting a gaming license is not an easy feat. But keep in mind that not all licenses are created equally. As mentioned earlier, licensing bodies uses different green and red flags in qualifying a certain betting site for a license. For instance, getting a license from MGA and the UKGC may involve strict background checks, fair play tests, and more. Meanwhile, Licenses from Curaçao tends to use looser requirements. Even so, there are certain features that all of these bodies commonly consider before granting a gaming license. These include:
1| Honesty and Integrity of Service
Betting sites applying for a license should be running an honest service. To prove so, licensees will need to provide records of all their transactions and payout. This is to ensure that it complies with anti-money laundering rules. Plus, all the betting site’s software, including its RNG, must go through regular tests and certifications.
2| Transparent Organizational Records
Transparency goes hand in hand with trust. To get a license, betting sites must disclose transparent info about its owners, partners, and other associated individuals or groups. Criminal record, if any, of any person within the team, should also be laid down. Doing so is essential to block cons or criminals from running their own business.
3| Stable Financial Status
Operating a casino is not a small feat. It involves a huge investment to keep the business flowing. Most unlicensed betting sites disappear in the thin air once they go bankrupt, leaving you scammed. And since it does not have a license, you will not be able to reach the casino to make amends. This is why the financial stability of a betting site is an important criterion in getting a license. A good financial flow will also see to it that the casino can pay all the winnings acquired by bettors. Plus, you can consult the responsible regulating body if you run into payouts or money-issue to hear out your concerns.
These requirements are some of the standards of quality that a betting site must feature to get a license. Through these, players can see that they are placing their bets on a table, trustworthy, and rewarding. After all, rogue casinos would not want to go through painstaking standards. Remember to stay on the safe side by signing up with trustworthy and licensed betting sites.