What is an eGaming license really
It is the legal requirement for online gambling sites to be regulated and run online and above board. There are those rogue casinos that launch without a license like FreeBitco and you will come across these from time to time but they are a distinct minority. It doesn’t mean that they are not great casinos, it just means they have not yet completed the checks and balances certain governmental bodies require. In other words, licensed casinos are audited regularly by the state making sure no shenanigans are going on behind the scenes. Specifically, operators are required to keep in house checks and balances of their software, operating systems, game types, games themselves as well as keep a look out for syndicates, fraudsters and the like. As one understands, licensing is a two-way safety net, for both you the player and the casino themselves.
However, because as we all know you can never trust the government, make sure to check our article about casino scams. You will be informed about the scam techniques you should be aware of and find safe alternatives.
A licensed casino is pivotal in ensuring you are getting more play time for your buck and also knowing in the back of your mind that when it comes to winnings, you are safeguarded by that licensing body as much as the casino is. The casino's withdrawal requirements are set up by the licensing board and they may be quite tricky on your first withdrawal, but standard operating procedures would deem them valid for a few months before having to submit again. This helps with those high rolls and big jackpots you are planning to win!
Licences are jurisdiction based, so if you want to be 100% legit be sure to be using a casino where the license covers the state or country you are based. The UKGC for example, the United Kingdom's Gaming Commission who handle the online casino in the country has different requirements than the Kahnawake Gaming Commission who handle Canada’s online gaming requirements. It will benefit you in the long run to do a quick investigation of the casino’s licensing board, so you know you are covered.
As there are various types of licenses available within online casinos, be sure to check on them all. A casino with a Bingo license that offers live dealer games, may be licensed for some operations, but not all. The same goes with Sportsbook and Poker. Having the correct license for your gaming needs is just as important as the casino having the right style of game you want to play. Keep this in mind when looking at online casinos.
The most established licenses
With a brief research online you can find all the information you need to know for licensing boards but to save you time, we present you the most important ones.
Macau Gaming Inspection and Coordination Bureau is the best in Asia. It is a long-standing regulatory body and has the latest technology around to ensure the safest gaming experience. For Europe, there is quite a list of licensing boards, Malta Gaming Authority being the most popular and well known. This licensing board was one of the first to join the regulations powerhouse and are passionate about protecting minors from gambling as well as the security of online funding of casinos and gaming. That is why we experience the regulations and limits for European players which can be quite annoying at times.
We already mentioned the UKGC for United Kingdom players which regulates various forms of betting within the United Kingdom.
For our friends up in Canada, the British Columbia Gaming Policy and Enforcement Brand regulates all forms of gambling in greater Canada. This allows for lotteries, casino games, slot machines, horse racing and fundraising events with random draws. Down under we have the Queensland Office of Gaming Regulation, which is responsible for operators who provide casino games, keno, slots and everything else for players in Australia.
Particularly for players interested in crypto casino licenses, the Curaçao EGaming License is the one most operators use. It was first launched in 1996, making it one of the oldest available, and over 500 casinos hold it at the moment. It doesn't offer the same security clauses that MGA does but until cryptocurrencies are regulated properly, it's the best option available for crypto casinos. iPlayCrypto's favorite Curaçao licensed crypto casino is by far Trust Dice as it maintains it's crypto casino character with the necessary games and coins but it is also a very legitimate option.
Should you, the player, look out for licensed casinos?
As mentioned earlier, licenses keep the casinos in check and make sure that you are getting the very best of what that casino can offer in terms of fair game play, pay outs and winnings. The same license verifies the legitimacy of the casino and their business practices. As the player, you can report the casino to their licensing board if you feel you have been ill-treated or taken advantage of. Of course, it is best for you to try to resolve the issue in house with the casino directly, but this allows for other options if you feel this matter was not handled in the best manner possible and it empowers the players.
Remember, casinos who have licenses have had to go through stringent evaluations and rigorous tasks to obtain and retain those licenses. It is not a simple process for a casino to receive their license from any of the registered boards, so they will do everything possible for you before you get to the point of having to be reported to the licensing board. Keep an open mind when dealing with such issues, and don’t just jump to reporting the casino. Numerous gambling forums and news portals, like us or BitcoinTalk, can put pressure on an operator who doesn't play by the rules so better use these first.
In the crypto realm of online casinos, the situation changes as it's very difficult for them to obtain something better than Curaçao's eGaming license. Therefore, trust and community reputation become much more important for both sides. Everyone knows there may be additional risks involved, but that is part of the thrill, right?
Using a licensed crypto casino adds to the safety and privacy of your game play. Their regulations and fund processing systems are specifically designed for your benefit. They keep your information private and secure while the currency fluctuations are maintained real time. Licensed Crypto casinos are generally required to have more than one type of crypto currency available for you to choose from, allowing players to grow their funds while enjoying the casino in the currency of your choice. Depending on the casino, you should be able to have different wallets available for the different currencies and this enables you to keep track of which games and which currencies are paying out more or earning all at once. You are able to control your spend, your play time, your winnings all because this license allows you to, and the casino is in line with these requirements. Something additional which can add many points to a casino's credibility and ensure your safe play is provably fair games.
Just a side note: always remember to read through the casino's terms and conditions, there is nothing worse than meeting that playthrough requirement and then being capped by the bonus limitations.
What does this mean for you as a player who wants to play unlimited on a crypto currency casino? There are certain licenses which allow crypto players to enjoy their gaming with a little less restraint. The Curaçao EGaming license allows casino operators the freedom to host every type of online game the market has available. It allows for players to enjoy crypto casinos with all the frills available. This licensing board falls under the Kingdom of the Netherlands, thus can offer its services to multiple countries outside of its homeland making it a very attractive option for the majority of crypto casinos.
If you wish to bypass regulators geo-restrictions, check iPlayCrypto's VPN suggestions and you won't have to worry about game or bets limitations ever again.
What about unlicensed casinos?
There are many unlicensed crypto casinos available on the market. The main advantage these casinos offer to players is anonymity as the “Big Brother” constantly keeps an eye over you. These casinos grant you the ability to play high stakes and offer higher rewards. They should be deemed lucrative, with little wiggle room for rules and your focus should be on resolution of past player's problems mentioned in the forums. One can easily find heated debates between unsatisfied players and the operator and the seeing the way the operator dealt with those players is the best guarantee you can get. Better than a license in a far away island
When playing on these casinos be sure to keep an eye out for provably fair games. These are games that have been proven to pay out fairly and this gives you a clear indication that the casino has your best interests at heart. One of the best parts of playing on a crypto casino without a license, yes there are definite pros, is that you can play from anywhere in the world. There are no limitations or jurisdiction requirements that you need to be aware of, and you could possibly enjoy the games that are currently restricted in your neighbourhood (game provider dependent). A great unlicensed option designed specifically for US players is NitroBetting also known as Nitrogen. While it became popular for its betting options, it has upgraded its casino offering making it a very lucrative option both for US and non-US based players.
When choosing where to spend your time and hard-earned money, there are many factors to take into consideration, licensing being one of the top considerations. Always remember to give the casino a good scan through before making a deposit. We all want to win, but we want to win fairly and looking at the licensing aspect will add an extra layer of security, potentially resulting in a game play downgrade.