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Wednesday, April 24, 2024

Why Should You Avoid Unlicensed Online Casinos?

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The rapid development of the gambling industry has influenced the emergence of different sites. The Internet offers a large selection of online casinos for players, but not all of the gaming platforms available on the Internet are safe and reliable. When you choose an online casino that operates illegally, you risk your data and bankroll.

Sites that prefer this type of activity are first of all violating the law and you become an accomplice to such actions. If you like gambling, you should only pay attention to reliable and safe online casinos that have a license.

Opening a gambling business always starts with the fact that the management must obtain a license. This is a guarantee of reliability and honesty of the operator. The first thing professional gamblers check is the availability of the license. This information is usually presented on the main page of the site at the bottom. If the information is missing and the online casino operates without having a license, then it violates the law. Such an operator may cheat players or even provide unfair gameplay.  Gamblers should immediately lose confidence in such companies.

The Role of the Gaming License

An online casino license is a document that authorizes the conduct of online gaming activities. The document is issued by a special regulating body and it is quite difficult to obtain it. The company must meet certain requirements, without which it is impossible to obtain a license. The main types of regulation of gambling activities:

  • government – the regulation of gambling activities in the domestic market;
  • countries that not only regulate gambling, but also impose a monopoly;
  • states that prohibit gambling activities.

There are a large number of countries, where gambling is prohibited by law. It doesn’t mean that online casinos work illegally in them. The activity is connected with the presence of offshore licensing, which can be obtained online for any country. Such online casinos are also safe and reliable. For example, Two Up online casino.

The requirements for the license depend on the regulatory body that issues it. It is usually related to the accounting of finances, a thorough description of the operator’s activities, auditing and gaming process. Keep in mind that if a gaming platform does not have a license, it cannot open a bank account. It also cannot have fair games from the best software providers. Therefore, a legal online casino has a lot of advantages, and one of them is a simplified tax regime.

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Gamblers can appreciate these advantages:

1.fair play
2.strong protection of personal data and transactions
3.secure payments
4.wide choice of games from the best providers of software

Online casinos that conduct legitimate gambling activities usually have a 24-hour support service. Gamblers can get in touch with the company’s staff in different ways. For example, in online chat, by phone number and email.

Authoritative Jurisdictions

When choosing an online casino that has a license, it is important to pay attention to which regulator it was issued by. There are countries that offer favorable licensing terms and they operate all over the world. For example, Australian licensed online casinos.

Each of them has pros and cons, so online casino operators can choose the best option for themselves. Let’s take a look at popular countries that offer the best license conditions for online casinos.

Curaçao

This is a popular island that is located in the southern Caribbean Sea near Venezuela. It has a compact size and despite this it is popular and has great powers that are related to gambling activities. The advantages of the Curaçao license are described here:

  • fast processing – up to 2 months;
  • affordable cost;
  • no percentage of casino profits.

It is the gambling industry that generates most of the state budget. The government has created an attractive environment and imposed a tax of only 2% on profits. The online casino operator simply has to locate his server on the island. This is a great offer that is used by online casino owners all over the world. If you are looking for a secure gaming platform, look out for a license from the government of Curaçao.

Malta

This is another state that offers excellent licensing conditions. The gambling industry regulator, the Malta Gaming Authority has two types of documents:

  • B2B;
  • B2C.

When an online casino owner wants to obtain a gambling license, he must meet all the requirements of the regulatory authority. This is related to the provision of financial statements and reliable protection of customer data. Such information must be provided on a regular basis.

Initially, the owner receives only a temporary license, which will be valid for 6 months. If during this period, there will be no violations and, after an inspection, the online casino will meet all the requirements of the regulatory body, the license will be extended for 5 years. In this case, the percentage of casino profits may range from 0.50% to 1.50%. These are favorable terms of cooperation for the owners.

Why is it Dangerous to Play in an Online Casino without a License?

If you are inexperienced in gambling, you may find it difficult to identify a reliable platform. It is very important to choose an online casino that has a license to play because you may encounter negative consequences. Some of the common ones include:

  • fraud;
  • unlawful taking of personal data;
  • insecure transactions;
  • “cheating” results in games.

If you register at such an online casino and make a deposit, you really risk a lot of potential winnings. As a result, you may not get it, as such sites are often engaged in fraud of all kinds. In addition, your personal data can be used for various purposes to create other gambling accounts. If you link your bank card in your personal cabinet, someone may try to debit your funds illegally.

Given so many risks, take the time to choose a really reliable online casino that is licensed and operates legally.

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