Online casinos can technically be located anywhere in the world as long as there is an internet connection. As untrustworthy as this may sound, most countries don’t allow the operation of an online casino within their territories. There are only a few places that actually allow online casinos to operate in a regulated and transparent manner.
Regulating online casino and gaming operations is no easy task and requires stringent and comprehensive checks before licenses are awarded. Online casinos wanted licensing are normally awarded a license based on 3 areas – these are the credentials of the owners, the fairness of the games/software being used and processes and procedures they have for paying players.
License applicants are required to provide a wealth of information including references and financial credentials. All the information is audited by professional companies who provide the jurisdictions with an invaluable service. Financial muscle is analyzed in order to ensure that the applicant can pay players and finally, the fairness of the games/software is dependent on what software is being used.
Saying this, software providers also have strong requirements for allowing operators to use their software as this could tarnish the reputation of their company and slots. Some providers are stricter than others obviously but this is another hurdle.
In Gibraltar for example, the Licensing Authority will only consider blue chip organizations with a stable and proven track record in gaming. Saying this, some gaming jurisdictions are stricter than others and with this so are their policies and the way they operate. Being licensed from some jurisdictions is worth more than others so that has to be considered. Gaining a license in other certain jurisdictions is a lot easier to obtain as a result.
CasinoManual.co.uk highly recommends that, as a player, you should know who you spending your money with. This is not limited to the online casino and customer support details but knowing where the online casino of your choice is licensed. Players can be treated badly by casinos and even cheated of their winning because of unfair games, incompetent management or simply rogue operators.
In terms of preference, the European jurisdictions are the ones you should look out for because they have to comply with typically stricter regulations that some of the others. Malta, Alderney, Gibraltar and the Isle of Man are considered to be the better choices for operators and players alike as the fall under the scrutiny of the European Union. Contrary to all this, there are some very established and reputable online casinos that are regulated and licensed by jurisdictions in places like Kahnawake for example.
Recently, there’s been a shift to country-specific regulation in Europe with countries such as Denmark and Italy licensing operations in just their own countries. We believe this will be the trend going forward with operators having to gain a license in each country – this has financial and operational costs so only the most reputable and financially competent operators will be able to exist in these markets. In Denmark for example, the law states certain policies and procedures have to be put in place – there is also tax to pay which is higher than a license from Malta or Gibraltar.
Playing at an online casino that is licensed and regulated in a well respected jurisdiction is a must and CasinoManual.co.uk has listed the most reputable jurisdictions you should look at for:
Gibraltar is a British colony on the southern tip of Spain. Gibraltar has always been known for its offshore banking credentials and as a result, has the perfect infrastructure for gaming operators to work within. Victor Chandler and Ladbrokes were the first companies to set up back in 1998 but now there are over 20 licenses awarded. One of the bigger companies licensed there are 32Red Casino.
Malta is an island nation in the Mediterranean near Italy. They began to issue licenses to online casinos back in 2000 and their licensees are sought after as Malta is considered to be one of the leading online gaming jurisdictions. There are various licenses on offer but all are awarded based on 5 year terms which ensure that operators need to act properly to have their licenses renewed on a long-term basis. Some of the licensees include Roxy Palace Casino and Mr Green Casino.
Alderney is one of the British Channel Islands but is self-governing under the British Crown. The Gambling Control Commission (AGCC) was formed in 2000 which consists of a chairman and 3 members. They pride themselves of being independent and non political as well as being transparent and without bias. The Channel Islands are well known for being one of the world’s leading offshore finance centres and also has fantastic infrastructure and services for the operators. Some of the online gaming operators licensed in Alderney include Paddy Power Casino, and Virgin Casino.