Online casinos provide excellent gambling entertainment for players and also large profits for the online casino owners. There are hundreds of online casinos throughout the world. Some past drawbacks of the fast emergence of online casino websites have resulted in an effort for credibility and the need for standardisation.
With the advent of the internet, online casinos offer punters the same casino experience but with benefits. You no longer have to travel to a casino, pay for accommodation expenses and sit amongst the crowds. What was once quite an ordeal – just to play a casino game – has turned into a convenient, streamlined and very enjoyable experience.
Online casino businesses are now regulated by the gambling licensing organisations. These licenses are issued by different governments worldwide. The licenses ensure the legitimacy of the online casino business. Obtaining an online gambling license requires a complex process of research and certification.
REASONS FOR OBTAINING A GAMBLING LICENSE
Online gambling licensing is aimed at improving the quality of online casino service delivery. A license certifies that the online casino sticks to the standards of online casino functioning. Online gamblers, thus receive guarantees concerning illegal operations online. With the decline of dishonesty and fraud, due to quality control in case of online casinos, more and more gamblers are enjoying gambling at casino sites. Attainment of a license before launching an online business is recommended because of three main reasons.
Online gamblers have a preference for the standing of the casino. A gambling license provides the gamblers with an assurance that the gambling site is reliable, secure and lawful. More trust will be enjoyed by the gamblers which will add their confidence.
PAYMENT IN CASE OF LICENSED CASINO
If online casinos are not licensed, deals cannot be concluded for receiving payments from bank cards. Bank account requires gambling license for setting up an account for a casino.
In many countries, it is illegal for an online casino to operate without a license. Not having a license can even result in business termination and criminal charges.
The online gambling licenses are intended to eliminate any suspicions and in order to introduce necessary improvements in online casinos.
GAMBLING LICENSE IN AUSTRALIA
In Australia gambling policy is in the hands of the states rather than the commonwealth. States and territory governments were solely responsible for regulating the gabling services some time ago but now even the commonwealth is taking more active role in the area.
Public concern in the area prompted the commonwealth to launch an inquiry through the productivity commission, the findings of which sparked debate. In July 2004, the Australian government decided that foreign online betting exchanges will be able to seek licenses to operate in Australia after federal cabinet decided not to amend the Interactive Gambling Act to ban them. Earlier in 2000 it was announced by the government that a study would be conducted into the feasibility and consequences of banning interactive gambling. The report released after the inquiry in March 2001, called for a ban on interactive gambling through technical methods. The reason for the commonwealth interest in regulating gambling is the outcome of the adoption of new communications technologies by the gambling industries. The licensing of online casinos has significant implications for revenue collection, regulatory mechanisms and community welfare.
There has been a concerted effort to clean up the online gambling industry. A punter needs to ensure that when they choose to bet online that they select a reputable provider. It really has never been easier or more convenient to place your wagers online. Just remember to examine the online casino or bookie for their credibility prior to joining and you will have a fantastic betting experience.