The Online Gambling Regulatory Bodies
Introduction
There are multiple online gambling regulatory bodies in the world today. The purpose of these regulatory bodies is to strike a balance between protecting the interests of retail players like you and me, as well as the online casino operators to ensure that they are being treated fairly as well. All online casinos should be registered with at least one of these regulatory bodies.
Being registered is a testament of the online casino’s transparency, credibility, and reliability. Failing which, this online casino is probably dubious and should be avoided by everyone at all costs. Some regulatory bodies are more lenient in certain aspects as compared to others. In today’s article, I will be going through some of the common regulatory bodies that you can find.
United Kingdom Gambling Commission (UKGC)
The UKGC is the governing body in Great Britain and it has a high international reputation. With its high standards, it is no easy feat for companies to get themselves licensed from them. They issue licenses not only to online casinos but also to arcades, gaming software, and many other things.
Due to its strict criteria, there is a large number of non UK casinos and casinos that are accorded a license from the UKGC are always associated with a high level of transparency in their dealings, fair and equitable in its systems, but can be pretty costly.
Curacao Gambling Licensing Authority
The Curacao Gambling Licensing Authority is allowed to operate in any country where gambling is not legally prohibited. Ironically, it is not applicable in Curacao itself. Nevertheless, countries such as France, Netherlands, Australia, and the USA relies on them and hence lending some credibility to the regulatory body.
The process of obtaining a license from the Curacao Gambling Licensing Authority has been said to be relatively much easier when compared to the UKGC. Moreover, a single license is sufficient in covering all activities which saves the hassle of applying for multiple licenses.
Malta Gaming Authority
The Malta Gaming Authority is the general regulatory body used in the European Union (EU). It usually takes about 12-16 weeks for one’s license to be approved, making it one of the longest among the various regulatory bodies. There are different types of licenses for different purposes unlike the Curacao Gambling Authority. It is well known for having a secure business environment, and it is not as expensive as the UKGC.
Generally, it has a relatively higher reputation as compared to the Curacao Gambling Licensing Authority. I would say that it falls somewhere in between the aforementioned authorities.
Gilbraltar Gambling License
The Gilbraltar Gambling License is another UK based regulatory body. It takes about 3-6 months for a license to be approve and that is the longest for any regulatory body. It has differentiated licenses for different purposes as well. It is renowned for its high class jurisdiction and laws which makes it one of the more credible licenses in the world.
Conclusion
Players usually avoid checking the licenses of the casino that they are dealing with. However, it is extremely important because activities that may appear legal for one might not be the case under a different jurisdiction and vice versa. Ultimately, it is to protect ourselves.
