An ever-increasing number of countries worldwide realize that regulation is more effective than bans. When something is banned, people will find a way to reach it anyway. Regulation, on the other hand, gives the authorities control over the product or service in question.
Regulation is essential in the case of the iGaming industry. Online casinos, betting sites, and other gaming outlets keep popping up like mushrooms today. Without regulating them, players will risk their funds with little to no protection at offshore sites. So, let’s look at what casino licenses are, why they are important, and what they can tell about an online casino.
What is a casino license?
A casino license is a permit issued by an authority that allows a company to work in the iGaming business in a certain territory. For example, if a business wants to run a casino or a betting site in South Africa, it will need a license from a local authority – in this case, the Western Cape Gambling and Racing Board.
The recent growth of online gambling South Africa is due to the introduction of comprehensive gaming licenses, as well as the increase in the public’s taste for online gambling.
What kinds of casino licenses are there?
There are different types of licenses for offline and online gambling. Usually, these allow companies to operate in certain territories. For example, the WCGB license allows a company to operate in South Africa’s Western Cape province. It is not unusual, though, for certain territories to implicitly accept certain licenses as valid, even if they don’t cover their territory.
Some of the reputable licenses that are implicitly accepted by certain territories are those issued by the Malta Gaming Authority (MGA) or the Kahnawake Gaming Commission, which have strict rules about customer and data protection.
What does a license tell about a casino?
The choice of a gambling license tells volumes about the reliability of an online casino.
- A permissive or cheap license like those from Panama or Costa Rica shows us that the outlet is after profits rather than offering its players a long-term and valuable gaming experience.
- An affordable license like that from Curacao shows more dedication to quality gaming. This is the first choice for operators who want to develop in the long term but choose more cost-efficient solutions at the beginning of their road.
- The stricter the requirements, the better the gaming experience. Our experience shows that online gambling outlets with a license from a more reputable regulator – like the MGA, for example – are more reputable. After all, the requirements they must comply with are more strict. Expect better game variety and fairer treatment in these casinos and betting sites.
- A local license shows that the casino or betting site seriously serves the players in a certain territory. It will offer an experience tailored to the needs of the local population, including game variety and payment methods.
Their choice for a license can show you whether a casino is serious about offering a quality gaming experience or just another cash grab. Choosing the right one for your needs is vital if you want to play safely and responsibly.