Why choosing a licensed casino matters in the growing unlicensed market

It is important that players protect themselves against unlicensed casinos through careful research and choosing critically. Players should understand the importance of making a difference between licensed and unlicensed casinos. This will help avoid scams or even worse, risking finances or compromising personal data. 

The rise of unlicensed casinos in the online gambling industry

Unlicensed casinos' number has been growing at an alarming rate. Despite the benefits of being licensed and the fact they can operate freely and legally, these are some of the reasons why they would choose to operate without a license.

• Less regulations and therefore, lower costs. 

• Licenses can be very expensive, especially if we talk about the Malta Gaming Board, The Gibraltar Games Authority, or the UK Gambling Commission. 

• Lure players with tempting bonus promotions.

As the online casino industry continues to expand, the rise of unlicensed casinos has become a significant concern for players and regulators alike. kingcasinobonus.com reveals there is an increasing number of unlicensed casinos operating worldwide, a number that has surged by 25% in the past year alone. This alarming growth highlights the importance of understanding the differences between licensed and unlicensed casinos.

According to Expert Institute, the risks of playing at unauthorized online gambling platforms are many and will surely have dire consequences for players.

• Compromising personal data due to unsafe or lack of security measures

• Rigged or faulty games that are designed ultimately, to rip off players' money

• Fair game is not ensured nor guaranteed

• Any dispute cannot be solved with the casino staff

• There are no resources for players with gambling addiction

• Identity theft can happen.

Understanding the risks of playing at unlicensed casinos

Insecure financial transactions & data breach risks

Unlicensed casinos often lack robust technology and SSL protection because they have not undergone a throughout inspection by competent authorities. Therefore, players' and users' personal data and financial transactions become risky and insecure. This would not happen in a regulated casino, because it has been approved in matters of quality and safety.

Fraudulent practices that won't guarantee fair game

In most unlicensed casinos there is no legal protection nor do they guarantee fair game for players. This could include having rigged or faulty games that are made with the intention of ripping off players and making them lose money. Also, if you have a dispute to solve with the casino, you will not be able to settle it.

The benefits of choosing licensed casinos

On the other hand, there are many benefits of playing at licensed casinos, which you should definitely consider when choosing one.

Legal protection

Authorized casinos rely on legal assistance to help solve disputes with players and create fair and transparent terms of conditions for using the platform. Regulated casinos always undergo regular audits to ensure fair game. Moreover, disputes between players and the casino can be solved with the gaming authorities, which does not happen in unauthorized casinos.

Secure payment methods & data protection

Licensed gambling platforms are subjected to regular audits to ensure they are working properly and can protect their users' data and guarantee secure financial transactions.

Fair gaming practices

Online casinos that are licensed under gaming authorities get certificates from well-known entities such as iLabs or eCogra. This ensures that their games and software are not rigged and every outcome is transparent.

Responsible gaming

Regulated casinos are compelled to give players different tools for responsible gaming, such as self-assessment, self-exclusion, and links to different resources. Casinos with tools for responsible gaming are associated with GamStop, Gamblers Anonymous, and GamCare.

How to verify a casino’s license before playing

• Look for regulatory entities' names, texts, and icons

• Some casinos even link to the issuing authority's website

• Compare the information on the gambling authority website with the one on the online casino’s website

• Look for certificates from reputable entities such as eCOGRA, iTech Labs

• Additionally, look for the SSL logo that shows the casino has encryption technology

• Look for a padlock icon on the casino's url. This proves the information is encrypted

• Safe and encrypted casinos have URLs that start with HTTPS

What regulators are doing to combat unlicensed casinos

There are many measures implemented across the globe to combat illegal gambling.

• Improve user experience and make better bonus offers

• Higher penalties for operating without a proper license

• Prosecution and imprisonment of those involved in illegal gambling

• Creating conscience about illegal gambling by educating players

Protecting yourself in a growing unlicensed market

In short, players must always choose licensed casinos. The temptation of choosing unlicensed platforms for gambling just because they offer better bonuses may be strong, but users must keep in mind these offers are just mere baits to hook the players. Educate yourself about the dangers of playing in unauthorized casinos is a must before even starting to play. This way, you can avoid awful consequences not just for your information, but also for your finances as well.