We’ve seen rapid growth in the popularity of iGaming in recent years, especially since the COVID-19 pandemic sent us all indoors several years ago. While choice is certainly a good thing when it comes to online casinos, the variety and range of platforms out there can make it hard to choose where to spend our time and money.
With such a large number of operators to choose from, players need to consider safety and trustworthiness as well as entertainment. Choosing a licensed operator is a must as licensing is a key factor in determining the safety and fairness of an iGaming platform. Licensed operators must comply with strict regulations to ensure that players have protection, fair games, and secure transactions.
However, not all licenses offer the same level of protection. In this article, we’ll explore the importance of choosing an iGaming platform with a good license and provide recommendations on choosing platforms according to the most reputable licensing authorities.
Why Licensing is Crucial in iGaming
When an iGaming platform has a license, it has the official approval of a regulatory body. This means the operator can offer gambling services legally. Through licensing, jurisdictions ensure that operators are following their strict rules and regulations. These are designed to protect players and oversee gambling activities to ensure fair play.
Having a license also means the platform is subject to audits, which means they’re monitored closely in terms of their game fairness, security, and responsible gambling efforts.
On the other hand, unlicensed platforms operate without these checks in place, which can mean poor or a total lack of data protection, potential unfair practices, and the possibility of financial fraud.
When players use a licensed platform, they can be confident of the integrity of both the site operator and the games they’re playing. They can also rest safe in the knowledge that their personal information and finances are safe and secure at all times.
Leading iGaming Regulatory Bodies
Typically, online casinos and iGaming platforms are licensed and regulated within their own country, but there are also offshore licenses to contend with. Not all regulatory bodies follow the same high level of scrutiny, however, which means that some licenses are more valuable than others. Here are the top iGaming regulatory bodies as recommended by NewCasinos:
UK Gambling Commission (UKGC)
The UK Gambling Commission (UKGC) is arguably the most reputable of all the licensing authorities in the iGaming sphere. It is known for its stringent regulations, its policies on fair gaming, and the level of protection it offers to players.
iGaming platforms with UKGC licenses must comply with very strict rules around responsible gambling, game fairness, and data protection. The UK Gambling Commission’s multifaceted mission means that players can be confident in the knowledge that they’re playing in a secure gaming environment with strict enforcement and a high level of accountability.
Malta Gaming Authority (MGA)
Another highly respected licensing body that NewCasinos recommends is the Malta Gaming Authority (MGA). iGaming platforms with an MGA license are held to high standards. They protect players, promote responsible gambling, and seek to prevent money laundering and fraud. MGA focuses on fair play and security too and its licensees maintain transparency and accountability.
Curaçao eGaming
Similar to MGA, Curaçao eGaming is a well-known and respected license issuer for iGaming platforms. You’ll find many offshore casinos with Curaçao licenses, and this is partly due to its more accessible and affordable licensing process.
Though Curaçao eGaming is less strict compared to MGA and UKGC, it still offers a basic level of legitimacy and oversight. It’s worth noting that while platforms licensed here do provide a certain level of security, it is not to the same degree as other bodies. This means players should certainly do their own research when it comes to using Curaçao-licensed iGaming platforms.
Other Notable Licensing Authorities
Several other licensing authorities are a big part of the iGaming industry, too, aside from these top three. The Gibraltar Regulatory Authority is known for its high standards and favorable tax regulations, while the Isle of Man Gambling Supervision Commission is known for its focus on responsible gambling and player safety.
Key Criteria for Evaluating Licensed iGaming Platforms
As we’ve seen, not all licenses are equal, nor are the iGaming platforms operating under them. Many online casinos, especially ones that have been recently launched, often advertise new features. No matter how modern their features are, what matters most is how reputable they are in terms of safety and security.
Fair play and Randomness
A licensed casino is required to ensure the fairness of their games. This is done with random number generators (RNGs), which determine the outcome of the games to make sure they’re fair. The best online casinos subject themselves to independent audits to verify and prove that game outcomes are not manipulated in any way.
Player Protection and Security
Data protection and security are big on all websites and platforms these days, and rightly so. Licensed operators must have strong protection measures like encryption in place to secure information and financial data. For EU-based operators, this also means adhering to GDPR and other privacy laws for responsibly handling player data.
Responsible Gambling Policies
Responsible gambling tools and policies are key to ensuring players are protected, too. Licensed operators are required to offer tools like time outs, deposit limits, and self-exclusion to support players’ financial and mental well-being.
Regulators also often provide resources for players dealing with problem gambling and many of the best iGaming platforms link to these directly too.
Payment Transparency
Legitimate licensed operators must provide secure and transparent payment systems for players making deposits and withdrawals. They must also comply with anti-money laundering (AML) and know-your-customer (KYC) regulations to protect financial transactions.
Customer Support and Dispute Resolution
There should be clear procedures for players to raise complaints and disputes, which often means providing access to reliable customer support.
Credible iGaming sites offer 24-hour access to customer service teams through phone lines, online chat, social media, and email.
The Benefits and Risks of Playing on Licensed Platforms vs Unlicensed Platforms
Here is a summary of the benefits of playing on licensed platforms:
– Licensed platforms are held accountable by regulatory bodies
– Players have protection in case of disputes
– Higher-quality games from reputable developers
– Clear, fair terms and conditions for bonuses and promotions
If players use unlicensed platforms, they’re risking:
– Unfair and fraudulent practices
– Increased risk of hacking, data breaches, or misuse of financial information
– Potential challenges to withdraw their winnings
– Poor customer service or no recourse in the case of a dispute
Final Recommendations
Choosing an iGaming platform that holds a license from a reputable authority is critical. Licensed platforms protect their players and are fair and secure. Before registering at any iGaming platform, it’s important to check and confirm the license is valid — be cautious of any platform that claims to be licensed without providing information about their license.
Finally, if it seems too good to be true, it probably is. Do your research, check user experiences, and read reviews on independent third-party platforms. Stay informed and check regularly for updates on licensing and regulations, too.
