The gambling industry has grown so big that countries began enacting laws to govern and rule companies like Casino Awintura. The question is: is it good or bad that governments are interfering? Well, there is no single answer that everyone will like. As such, let us explore the impact of regulations on a global scale.
Know Your Customer
One of the most impactful regulations in the industry is the verification process, or what is commonly referred to as KYC or “know your customer.”
In this process, the player has to submit documents to prove his identity. This process aims to ensure that the casino does not become a hub of money laundering activities. Governments can trace money—where it came from and who received the prize.
The KYC also ensures that the person receiving the withdrawal from the gaming house is the same person who made the deposit. It guarantees that the money is not being taken by someone. All in all, this process also prevents identity theft.
So, while it is easy to deposit money, taking it out is harder, and this should be enough to discourage scammers from stealing credit cards for the sole purpose of playing.
Fairness of Games
Another regulation that governments implement that casinos must abide by is that their games must be fair. It is why it is a standard for governments to validate if the casino uses a random number generator or RNG.
RNG is a program that ensures random results in gambling games. For example, it guarantees that the symbols that appear in slot machines are randomly generated. The same thing goes with blackjack. The RNG ensures that the cards that come out are random, not pre-selected. As such, players are protected and guaranteed that the results are not pre-planned.
Security and Safety
The government also asks casinos to meet certain requirements about site security. This is why all casinos use encryption methods to prevent hackers from deciphering information that comes to and from the casino. This technology is specifically called SSL.
Here are the other security systems that must be in place:
- Data privacy protection systems;
- Biometric access control;
- Reduced access to gaming programs (internal for engineering);
- Secure Socket Layer or SSL;
- Transport Layer Security.
All these are mandatory. Before online casinos even get a permit to operate, they must meet these conditions.
Country of Operations and Customers
Finally, there are regulations where gaming houses can only offer their services to specific countries. In the United States, there are states where online casinos can only operate in the US.
Why are there laws like this? This ensures that the casino’s money gets taxed by the US government—and that this money goes to the US only. It is like protection from massive bankruptcy.
This regulation allows online casino operators to compete fairly. In addition to this, a casino cannot just buy out another one just because they have the money. The government has to be involved to prevent monopoly. As such, users have a better experience if they have more game options.
Regulation Helps Protect Players – It Is a Reason to Start Your Game!
Overall, regulation is a good thing, as it allows the government to protect people, especially casino users. For one, players can rest assured that their identities are safe. In addition, they know that the casino is bound by law to ensure that they will be paid if they win. Some may not like the idea of regulation, but it is for the best—regulation does more positive than negative if you look at it globally.
