Many online gamblers don’t really know whether they’re fully allowed to play online with real money, but as the internet doesn’t stop them from doing so, they just go ahead and make their online wagers. At the same time, many players don’t really care if online gambling is regulated in their jurisdiction. They actually should be as this can affect everything from the casino’s portfolio to the need to report winnings to the tax department.

The reason for this confusing situation isn’t that strange though as the igaming industry is relatively young, especially when compared to the general gambling sector that also includes offline gaming. Its steady growth and global popularity was underestimated by many governments which is why it has taken some countries ages to think of a solid plan to legalise online gambling and be able to control player’s online behaviour.

In this guide we explain why it’s important to have a better understanding of gambling regulation if you enjoy making an online bet. We also briefly provide more details on the most important jurisdictions around the world where gambling sites are licenced and thus considered legal. This gives you all the information you need to look out for if you’re after online casinos that are actually regulated.

Online gaming jurisdictions around the world

Luckily, the legal and regulatory landscape of online casinos has improved in recent years, although some countries around the world are still lacking behind. On a global scale we believe it’s fair to say that the industry is pretty well regulated which is something that especially players will enjoy as they’re the ones regulation is partially meant for  — the other main reason being the need to bring revenues to the state coffers. To understand how regulation in this industry works, one should first understand the concept of the different online gambling jurisdictions. These are the regions where the relevant governments have managed to pass gambling related laws that make it legal to play online betting and gaming services. There are many of these online gambling jurisdictions around the world and the number of gambling authorities has rapidly grown in recent years. Here are some of the most important ones for players that are based in English speaking countries:

●     Alderney: Alderney Gambling Control Commission.

●     Antigua & Barbuda: Financial Services Regulatory Commission.

●     Curaçao: various local, private organisations.

●     Isle of Man: Isle of Man Gambling Supervision Commission.

●     Gibraltar: Gibraltar Gambling Commissioner.

●     Malta: Malta Gaming Authority.

●     United States: various, state-oriented authorities.

●     United Kingdom: UK Gambling Commission.

●     Canada: various, including the Kahnawake Gaming Commission.

●     New Zealand: regulations in New Zealand allow players to play at offshore sites.

Widely known as gambling authorities

Within these jurisdictions there is usually a specific organisation which is responsible for regulating the gambling companies located there. These are often referred to as licensing authorities, as one of their main tasks is to issue licenses to the domestic or international operators that they approve for offering their services. Companies who want to obtain a licence, and then want to remain licenced, will need to meet a large list of often strict requirements. The actual strictness often depends on whether the authority is part of the country’s governing body or not. Although, the exact requirements will depend on which jurisdiction they’re based in, we typically come across a combination of the following factors:

●     Financial stability of owners.

●     Reputation of operator.

●     Fairness of casino games offered.

●     Approach on responsible play.

●     Prevention of underage gambling.

●     Customer service and handling complaints.

Why gambling regulation is crucial

Online gambling often involves playing with real money which is why it is considered risky by many. People around the world generally have the same goal of making a real money win with their online wagers. This is why gambling is seen as a threat to the nation’s society and why so many local institutions are interconnected when it comes to gambling online. Offering online gambling services means that the operator needs to offer a platform where games are offered fairly, customers are treated well, transactions are performed securely and high risk players can count on the professional help they need. This is ultimately the most important point of regulating gambling as it serves 3 main purposes:

1. To make sure online casinos are operated lawfully.
2. To make sure online casinos are operated ethically.
3. To make sure online players are safe and treated fairly.

For the sake of fair gambing

The above is reflected in a wide range of daily procedures to assure players can find a platform they feel comfortable with. Needless to say, all gambling sites should be compliant with any local laws that they are subject to. They should all be engaged in practices that are considered ethical. There should also exist enough measures to prevent money laundering and stop underage play and their adverts should be transparent. Websites should also be required, at all times, to protect customer funds and have fair terms and conditions. Finally, players should have a fair chance of making a win, and should be able to receive all of their winnings within a reasonable timeframe.

Final note

If every online casino met the criteria pointed out above, then the internet would be a safe and secure environment for those wishing to bet and play real money casino games. The truth is that there are still dodgy websites available, but they are massively going to the wall. Fortunately, rogue sites are being stopped, blocked, and avoided by players. Online gambling authorities were invoked to protect both players and their own tax revenues, which explains the global efforts to lower illegal gambling and promote regulated gambling.