There has been a strong impetus to ensure that online players play at casinos that are licensed and regulated by the UK Gambling Commission. But why is this important? Let’s take a look.
The gambling industry has enjoyed steady growth over the years to become one of the most lucrative businesses in the world today. The old land-based casinos are gradually becoming less popular, with most players now opting to play in online casinos that offer players the comfort of gambling from home with far more discretion and less effort. With the new online casinos’ trend gaining steam, gambling regulations had to evolve to secure the gaming environment and ensure the operators do not take advantage of players.
The UK Gambling Commission is one of the reputable executive gambling bodies in the world. The commission was established in 2007 and has gone on to set new standards in regulations of casinos in the UK. Any casino wishing to establish operations in the UK must hold a license from the commission. The license also allows the operator to advertise their services to players.
Advantages of Playing at Casinos Licensed by the UK Gambling Commission
Amongst the many advantages of playing in casinos that are licensed and regulated by UKGC are:
Separate Player Accounts
The commission audits an operators’ finance structure before a license is issued to ensure a players’ funds are kept separate from the operating cash.
This is very vital as it acts as an insurance policy for the player against the casino. Should the operator file for bankruptcy, go under receivership, or close business, the players’ money will remain safe. Players can, therefore, play in the casino without worrying about losing their money.
Player Protection
Another crucial reason for playing at casinos regulated by the UK Gambling Commission is the protection of players personal and financial information from unauthorized access and potential misuse. The commission enforces strict measures as per the data protection act.
The commission ensures that the licensed casinos are competitive enough to handle and protect the customers‘ data in the digital space through the latest technology.
The UK Gambling Commission also requires each casino has a way of alerting players of how long they have been playing and how much they have spent in the period. The regulation includes a self-exclusion system for players: with this exclusion, players can lock themselves out from casino for a set period of time. There is also a provision that allows a casino to bar a player from accessing their accounts in cases where the casino suspects a gambling addiction, irresponsible gaming, or activity from a player who is underage.
Accountability of the Operator
The UK Gambling Commission ensures that the casinos that they license follow the framework for operating online. Those who do not comply are held answerable by the commission and risk having their licenses revoked or perhaps hefy fines.
In the event a player feels that a casino is violating their rights, they can file a complaint with the commission. The commission will then handle the complaint and were required launch an investigation.
Fair Gaming and Random Results
Another important reason to play in a casino that is regulated by the UK Gambling Commission is the guarantee that the games are fair and the results are random. Players who play in unlicensed online casino risk being scammed through games of which outcome are pre-determined or biased. This lowers the chances of winning, often unfairly increasing the odds in favour of the house.
The commission ensures that the online gaming environment is fair and that players have the all the information with regards to wagering, cashing out and every aspect of the game they have chosen to play. The commission employs several ways to ensure the fairness of games in licensed casinos, with one being the use of Random Number Generators (RNG), that ensure numbers cannot be predicted.
The commission also goes further to ensure casinos let players know of the Return to Player (RTP) rates of each game they choose to play. The RTP rate indicates the percentage of money that is returned to players after gameplay. In an example, a highly volatile slot of an RTP rate of 96% will return £96 in form of winnings from each £100 that is spent on the game even though not to the same player.
The commission also uses the services of independent third-party regulatory bodies (for example eCogra) that provide testing for online gambling software. This further proves the credibility of casinos that are licensed by the UK Gambling Commission.
Players from around the world, not only the UK should ensure they choose licensed casinos and steer clear of unregulated markets or unlicensed casinos. The player must keep in mind the harsh consequences in terms of the total lack of protection playing at un-licensed casinos can pose.
What does the future hold? We can expect tighter regulations and perhaps more frequent auditing. More about future regulation for casinos can be found here.