Many online casino licensing authorities have come about to provide players with a safe and regulated gambling experience.
For regulating online casinos and venues, these agencies have the responsibility. The process of becoming licensed is extensive. They require various documents, background checks, and other measures to ensure the safety of both the players and the Internet provider.
To help you learn more about these authorities, we’ve provided a brief overview of some of their operations procedures.
What Is A Licensing Authority?
There are various terms that mean the same. Some authorities use the term ‘Gaming Commission’, while others prefer to call themselves licensing authorities. These two terms are almost interchangeable, with the only difference being in their duties towards protecting their clientèle.
A licensing authority is a government agency that grants permission to run a gambling business in the country. This agency monitors their clients, and when there are any potential threats taking place, they can then act accordingly. The agencies are based all over the world, so it is not uncommon for a player to move to another area without knowing the licensing authority in this area.
What Do Licensing Authorities Do?
Licensing authorities are responsible for keeping track of any online casinos that may be operating in their specific area. Unlike physical casinos, online casinos are difficult to monitor and regulate.
This is where licensing authorities come into play. They can eliminate any rogue websites that might give players a less than satisfactory experience. The agencies have the power to take action against any sites they see fit, ensuring players will never have to worry about finding a bad casino site.
What Do Licensing Authorities Look For?
The licensing authorities have a variety of different standards in order to ensure that the sites they regulate are being run and operated in an ethical manner. They look into any potential threats that might be taking place within the online casino industry, such as fraud and money laundering.
They also check up on each web developer, computer user, bank accounts or credit card holder, and what kind of sports events are sponsored by the operator. This is essential information that ensures players will always have a safe and fun experience while on the Internet. They also check the softwares and other technical information. For example, most reliable casinos use microgaming casino software, NetEnt or another established and checked provider.
What Documents Are Required?
Online casino licensing authorities are stringent when it comes to the documentation needed in order to be licensed. Some of these documents include a background check, bank account details, and even information about the computer for use in their domain.
These licenses are expensive, so operators must provide the proper information to receive them. Each licensing authority has its own required documentation, so always review their websites for more information about what you will need.
Why Do Licensing Authorities Matter?
Without the licensing authorities, players could be putting themselves at risk. There are many fraudulent sites out there that are scamming unsuspecting players into providing their private information. These agencies play a massive role in protecting players from becoming victims of these scams.
This is why it is important to always do your due diligence when looking for an online casino site and ensuring they are licensed with an experienced agency. Online casino licensing authorities have a whole host of resources that they can use to make sure players are getting nothing but the best.
Top 5 online casino licensing authorities of the world
Some may find this unbelievable, but it is good to know that more than 70 percent of global online casino operators are licensed with just the top 5 authorities. Here is the list:
1) UK Gambling Commission (UKGC)
No doubt you have heard of the biggest and most well-known gambling in the UK, so it’s no surprise that the UK government would take a strong hand on Internet gambling in the country. The UKGC is heavily scrutinizing any new operators that wish to operate within the online market.
The UK gambling regulatory body is known for its strict regulations and the cost that comes with being on this list. The UKGC has over 420 gambling licenses in the country, and of these, 31 are given to providers that have also been deemed high-risk operators.
2) Malta Gaming Authority (MGA)
As you may know, Malta is a popular destination for online casino players from across the globe. The MGA works out very well against online casino operations in terms of quality of service.
This is a government agency that is very well respected for its ability to deal with any problem that may arise in the online market. This includes market fraud, online gambling scams, and money laundering.
3) Curacao Authority For Gaming And Financial Services (CAF)
As the largest official gambling regulator in the BES Islands, this authority has a huge responsibility when it comes to ensuring good services are being provided for licensed operators.
The CAF is also responsible for reducing any possible harm that may come from gambling addictions, giving players a safe and secure online gaming experience. The Curacao licensing authority has the power to take strong actions against sites that are not following their regulations.
4) Alderney Gambling Control Commission (AGCC)
This licensing authority has been in operation since 1993. It is regulated by the Alderney government, regulating the online gaming industry in the Channel Island region.
The AGCC is a well-respected and recognized authority that acts as the main regulatory body for online gaming activities. They are responsible for spotting any fraudulent online operators, ensuring players will continue to have a safe and rewarding experience.
5) Japan Gaming Monopoly (JGMO)
The Japanese government itself operates this online gaming licensing authority. Not only are they responsible for ensuring that the Internet is safe, but they must also ensure that all companies are given fair treatment in the gambling market.
The online gambling site must also comply with Japanese laws and the regulations set forth by JGMO. This authority controls all operators at high risk for fraud. It will keep a close eye on any new companies that enter the market.
As you can see, most of these governing bodies are very strict. They will not hesitate in taking strong action against operators that are not following through with their obligations. There are many benefits of utilizing licensed online casinos. One of the biggest is that these licensed and regulated sites are very secure and trustworthy.
Players can guarantee that their personal information and funds will be kept confidential at all times. This is because the companies will be held accountable for any damages or losses that may occur on the site. Licensed online casinos also tend to be regulated by certain laws such as the UK Gambling Commission, which guarantees fair play on all table games, honest payouts, great customer service, legit casino bonuses, and a safer gambling environment players can feel better about their online experience.
Hopefully, this information has been helpful and given you a greater understanding of how online casino licensing authorities work. This passage is about how to be confident in the safety of your personal and financial data. You can feel comfortable with this knowledge when you know what these agencies are.