The gambling industry has been around for decades and over that time, things have significantly changed. It may not appear that there were significant changes on the outside, but gambling companies have strict rules they need to adhere to. Nowadays it’s way more uncommon to see gambling commercials, and it’s more difficult for underaged citizens to get access to this form of entertainment.
However, with the rise of the iGaming industry and online casinos, it once again became more difficult to keep things in check. Luckily, there are regulatory bodies around the world that manage to keep this industry alive and in check. Here we will go over a few interesting facts about gambling regulators.
Gambling Regulators Responsibilities
First, let’s go over some general responsibilities of gambling regulators. They are in charge of licensing casinos, they audit their finances and behavior, they ensure users are protected, and that the operator follows fair play guidelines. This means that any platform that offers gambling content without a license can get fined. Moreover, if users feel wronged by the casino they can always turn to their regulator and sue the platform.
Regulators also need to test the casino games. They need to be honest about their winning probability and RTP rate, that’s what fair play is all about. This is why you see so many familiar names when it comes to game developers. Casinos are partnering up with companies whose games already passed this audit and are good to go.
Some Regulators Allow Users to Block Themselves
In the UK and in Denmark for example users who feel they have a gambling problem can seek out help from regulators. They can willingly request regulators to ban them from casinos. This is something that people started doing more and more in the UK when online gambling activity began to surge. When you do this any operator is obliged to deny you access to their content. In other words, if you find yourself tempted to try a few games, you won’t be able to access them even if you succumb to those temptations.
Betting and Gambling Can Be Viewed as Separate Things
Some countries don’t view gambling and sports betting as the same type of entertainment. As a result, sports betting can be legal, while casino games can be illegal. Moreover, there are instances like in Canada and Macau where gambling is legal, but online gambling is illegal. It can also be the case that all of the activities are legal, but are regulated by separate regulatory bodies.
In the UK, the United Kingdom Gambling Commission is in charge of both land-based and online gambling, but not sports betting. So, sites in the UK that have fast payment options or fast withdrawal casino platforms, are all regulated by that commission. However, this doesn’t mean that all of the online casinos available in the UK are based there. Foreign operators are also available there, however, they must be in white-listed jurisdictions in order for their content to be available in the UK.
Each Country Has Its Own Set of Rules
Even though they are regulating the same industry the rules can vary depending on the state. Some regulators issue separate licenses depending on the sports users bet, and on the wagering options available. So, if you wish to offer casino games, horse racing bets, and bingo, you might need 3 separate licenses depending on where you live.
In Canada for example, they recently established a regulatory body that will enable operators to allow single bets on sports events. This option was unavailable in Canada up to this point, and if they wanted to place wagers on sports they had to have at least 3 matches on their ticket.
Transparency and Responsible Gambling
One thing all regulators have in common is that they promote responsible gambling and that they allow you to check if the operator is licensed. If a user wishes to do a background check on a platform they can request the name of the operator and license number. They can then verify if the online casino is indeed regulated. Moreover, it is universally accepted that gambling can lead to problems and all of the licensed operators urge the users to game responsibly. Some, of them, are even obliged to contact the players if they notice that those players are playing too much.
Conclusion
These were some interesting facts about gambling regulators. As you can see the rules can vary a lot based on geography. Some places have different views on what’s considered gambling and what’s not, and also what forms of gambling should be legal.
**********
Emma Rundle is a talented blogger who loves covering topics about sports betting and gaming markets. She works as content writer which includes responsibilities like research, writing, and text optimization. In her free time, she loves to travel, watch HBO, or play poker with her friends.