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Regulated vs Unregulated Online Gambling Markets
- February 7, 2020 By Riley Wilson -
When it comes to online gambling, the legal landscape varies from one country to another. Every day, we read dozens of articles covering the legislature addressing the online casino industry in different markets, with more and more countries working on regulations. Online gaming operators can face a range of problems in unregulated markets, and the same goes for players. Stay with us to learn more about the differences between regulated and unregulated markets from the player’s perspective.
Regulated Markets: It’s All about Player’s Safety
The first thing that a regulated market has is an online gambling regulator. It is an institution that monitors all the operations in this field and issues licences which allow online casinos to offer their services. The legal framework in countries where online gambling is regulated is created to protect customers and collect taxes that can be allocated to services like health and education.
Once online gambling is legalised, the government sets the rules operators must comply with. They are designed to ensure the player’s safety in the first place, with tools to protect customers and help those with a gambling problem. Players can turn to the regulator if they believe they have not been treated fairly. There are also organisations dedicated to promoting safe gambling and minimising gambling-related harm.
As for regulated online casinos, they must abide by the law and operate responsibly. They must prohibit underage gambling and reduce risky behaviour. Besides offering fair casino games, they also have self-exclusion programmes which enable players to remove themselves from regulated gambling sites. It can be done for a certain period, from 6 months to a lifetime.
When applying for a licence, operators must fulfil requirements set by the regulator. Once they have acquired a valid licence, they must undergo audits conducted by the regulator or independent agencies. They include checking if the RNGs work properly and deliver unbiased results.
Unregulated Markets: What Can You Expect
If you live in a country that has not regulated its online gambling market yet, you can still enjoy this form of entertainment. Yet, you may not be as protected as players in the regulated markets. Unlike your peers from other countries, you won’t be able to contact the regulator if you have any troubles while playing at an online casino. However, that’s not the only issue you can face.
In an unregulated market, you are more likely to stumble upon a rogue online casino. Furthermore, instead of regulating the market, governments try to ban this form of entertainment by blocking foreign gambling sites, including those regulated in other markets, and preventing citizens from joining them. You never know when the operator will give up on this market which can result in the loss of your funds. Although reputable operators inform their customers when they are set to leave a certain market, you can never be quite sure.
Also, in some unregulated markets, you may not have safe and convenient banking methods at disposal. It means that withdrawal of your winnings may be processed slowly and take several weeks. When it comes to game selection, some software providers do not make their games available in unregulated markets, so you may miss out on the most popular titles.
What to Do When Playing in Unregulated Market?
If your country is still unregulated, you should be cautious when joining online casinos. The most important thing is to choose a gambling site that is regulated and licensed by a trustworthy body such as the UK Gambling Commission or Malta Gaming Authority. Before you sign up with a casino, check out its background and reputation by reading its reviews on gaming portals like ours. It will take some time to do your homework, but you have to be sure where you put your money.
Click here to learn more about some of the best online casinos in different markets and choose the one that you like best!