Gamblers should always make the right decisions when choosing a gaming site. From signing up, protecting your online identity to withdrawing/depositing funds safely, every decision counts. Most importantly, placing bets within safe gambling jurisdictions would be an added advantage. Moreover, players must meet rules and regulations that govern gambling activities within their countries.
The good news is that the world’s safest gambling jurisdictions also issue licenses to online casinos that operate beyond borders. For example, Curacao e-Gaming authority is only one of many popular jurisdictions that operate international gaming sites. While South African online gambling for real money has suffered many legal setbacks, the e-Gaming industry keeps expanding to accommodate more players. Despite the illegality of online gambling in the country, the South African government has rarely interfered with companies that operate online casinos. This post will shortly explore the top five online casino licensing jurisdictions.
What is the significance of jurisdictions?
For starters, gambling jurisdictions do not seem to underscore a lot of significance. However, when you want to play casino games, especially in countries such as India, where strict gambling laws strangle the sector, you may want to try elsewhere. Variations in gambling laws mean an offshore gaming site becomes a handy option.
Note that some online casinos in your country may be operating under offshore licenses with express authority from the gambling commission. Thus, you should always check certification information on a gaming site before creating an account. Do not risk playing on a site that does operate within a legal framework only to lose everything to a fraudulent company.
A quick review of the safest online casino jurisdictions
Interestingly, major online casino jurisdictions are little-known places. Here is a quick review of the safest ones.
The Isle of Man Gaming Commission
The Isle of Man Gaming Commission enjoys a long-standing reputation worldwide as a top license provider to online casinos. They issued the first license in 2001. To acquire a gaming license from the Isle of Man Gaming Commission, online casino operators must complete the requisite paperwork and submit it for inspection. The gaming authority looks into bank account details, which must be within its jurisdiction, gaming software, and fairness of a gaming company and ensures strict adherence to stated laws. A license from the Isle of Man Gaming Commission is one of the best because it covers all aspects of betting and gaming activities. Licensed operators do not pay capital gains tax.
Curacao E-Gaming Authority
Curacao e-Gaming Authority is a popular license provider to online casinos within its jurisdiction. After issuing the first license in 1996, the Curacao e-Gaming Authority has established itself as a household name in the gambling industry. You could say it enjoys political goodwill within its jurisdictions.
Notably, Curacao does not issue separate licenses to gaming entities as most licensing authorities do. The issue a single permit that covers all interactive internet gambling. Moreover, the gaming authority undertakes transparent and fraud-free licensing of gaming companies under its jurisdictions.
Gibraltar Regulatory Authority
Gibraltar Regulatory Authority (GRA), established under the regulatory Act of 2000, was also nominated to operate under the country’s Data Protection Act of 2004. Today, it issues gaming licenses and oversees the safety of online gamblers. To obtain a gaming license from GRA, operators of online casinos must go through a detailed guide.
Moreover, GRA is responsible for the data protection of players, a supervisory role it undertakes through electronic and communication frameworks within its jurisdiction. GRA issues lottery, bookmarker, gambling, gaming operator, machine, and betting intermediary licenses.
The UK Gambling Commission
The UK Gambling Commission (UKGC) has been issuing gambling licenses to online casinos within its jurisdiction since 2005. The establishment of UKGC happened after the UK passed a Gambling Act. But first, online casinos must meet the gaming software requirement threshold, have a banking certification, and demonstrate a reliable auditing process. Other vital functions of the gambling commission are to prevent slot machine manipulation, prevent illegal gaming, and issue remote licenses.
Malta Gaming Authority
The Malta Gaming Authority is among the safest online casino jurisdictions. Most popular internet casinos operate under the Malta Gaming Authority license. It is among the safest jurisdictions in the world. Note that Italy was the first EU country to regulate online/remote gambling. The Malta Gaming Authority also protects vulnerable players and minors against exploitation by gambling companies. Most importantly, MGA promotes a secure, safe, and responsible gaming environment within its jurisdiction.
Internet casino jurisdictions continue to gain momentum globally, mostly to tap into an explosive e-Gaming enterprise, which is now worth billions of dollars. Online casinos have witnessed tremendous growth in 2020 due to restricted movements attributed to the COVID-19 outbreak. To find out about the licensing of a gaming site, always read the ‘About Us’ section, usually at the bottom of a website’s homepage. To lovers of sports, find out how coronavirus will impact college bowl games to help you adjust accordingly.
Story by Leah Shepherd