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Why Is an Official License so Important for Any Online Casino?


Feb 15, 2023

Security is one of the most important factors to keep in mind when choosing an online casino. The essence of any online casino to consider getting a license is to give its users the peace of mind that the casino is secure and abides by all regulations. At a time when almost any platform can start claiming that it offers reliable gaming options, it is paramount that genuine platforms set themselves apart. Licensing is the surest way to do so. 

There are various ways that a license makes a platform brand itself as a secure online casino. An official license matters to an online casino in many ways:

  • Creates authority for the casino

For a start, online casinos are under stiff competition. The competition is attributed to the fact that more people have appreciated the convenience of playing games from the comfort of their homes. As the race to get more players on their platforms intensifies, online casinos need to position themselves as the leaders in the industry through licensing. For example, when a casino obtains a license issued by the Curacao Gambling Authority, players are more likely to view it as the benchmark against which all the other platforms are rated.

  • Peace of mind to the player

For a casino to obtain the official license, it has to undergo thorough vetting processes. The regulators often ask for important details pertaining to the casino’s financial position, the identity of its owners, the ownership structure, among other crucial information. By the time the casino gets the required license, the player can be ascertained that it has met all the needed resources to operate. As such, you can bet calmly, knowing that any winnings made will eventually be paid. The last thing a player wants is to win but be unable to withdraw his/her funds.

  • Privacy of consumer information

During sign-up at a casino, a player is often required to provide crucial details. Most of the data provided are very personal, and most players would prefer it handled as such. There is no way you can be sure that an unlicensed casino will maintain a player’s privacy after they access this massive data. However, when licensed, the casino has an obligation to diligently handle user data, or they risk losing their license. That forces them not to perform actions such as selling player’s information to third parties, among other vices. 

  • Secure transfer and store of funds

Gambling involves money, a lot of money. When playing at an unlicensed casino, it means the safety of a player’s funds is at the mercy of the casino. That is, the platform may choose to lie to the player about its financial position. In return, you would continue playing, not knowing that your money can get stolen at any given second. The only time you can realize that there is a problem is when you strike a win, but the casino makes excuses about your payout. The same cannot be said about a licensed casino because regulators keenly monitor its financial position. You will know when it starts facing monetary issues, helping you take caution not to lose any funds.

  • The requirement to operate in some jurisdictions 

Official license not only works to the advantage of the player but also the casino’s growth. There are some regions where an online casino would not operate unless it obtains valid licensing. By getting the license, the casino wins players’ confidence and also manages to grow its operations to areas where it had been locked. As such, those who always wanted to gamble at the casino as per its reputation now have a chance to do so. 

It is worth noting that not all countries have nationalized bodies that govern gambling. In such cases, the Directorate of Offshore Gambling takes control of casino operations in regions without gambling laws.

By admin