There has been a huge amount of activity in the gambling space across North America in recent years. As laws have changed, there has been a major opening up of major markets, with a lot of people seeing the opportunities that exist in these spaces.
However, there is still a lot of uncertainty that people have about the world of gambling. This is because there can be major differences between the regulations from state to state and nation to nation.
Therefore, a lot of potential investors want to learn a bit more about the varying types of gambling regulations that you’ll tend to come across. This article will provide you insights into the different degrees of regulations you will see for gambling sectors in various governments.
Markets With Heavy Regulations
Perhaps the most strictly regulated online gambling markets are those that exist in the UK and Sweden. The UK Gambling Commission has long been one of the world’s most stringent gambling regulators. It has been tasked with handling the gambling licenses for those looking to operate in the region, as well as looking at ways in which it can best protect gamblers who are deemed to be at-risk.
The UK Gambling Commission has brought in many strict rules and restrictions over the years, including not allowing anyone to use credit cards for gambling transactions, significantly curtailing bet sizes on certain games, as well as banning various forms of game features.
The UK government is also nearly finished its review of UK gambling legislation and it looks like it will be working closely with the UK Gambling Commission to introduce even more restrictions on gambling operators and customers soon.
The Swedish online gambling market has only been live for a couple of years, but the Swedish Gaming Authority has quickly developed a reputation for being a tough taskmaster. It has been quick to dish to regulatory action on operators who have misinterpreted some of the region’s confusing rules and regulations.
There have been very strict mandatory deposit limits levied on online casino players for certain periods of time, as well as other restrictions that haven’t gone down too well in certain circles.
Medium Regulated Markets
You’ll come across gambling markets in certain regions that tend to have a more balanced level of regulation. It won’t be overly restrictive, but there are still plenty of rules and regulations in place. Two such markets are the Netherlands and Germany. Both regulated markets have only been up and running for short periods of time, so they are still learning as they go.
There are some limits on transaction sizes and certain game features, but for the most part, these markets are quite open when it comes to gambling options. One area where they do put a big focus is on responsible gambling. There are very effective self-exclusion programs in place in both markets that can help protect at-risk gamblers.
Lighter Regulations for Non-GamStop Casinos
Certain regulators take a more hands-off type of approach when it comes to oversight. The Malta Gaming Authority is commonly seen as a license issuer for many European-focused platforms. While it generally has a decent reputation for being solid when it comes to oversight, it certainly is a lot laxer when it comes to regulations than others.
They allow a good level of freedom for players, while still having some protections in place. Most platforms that have a Malta Gaming Authority license will have a selection of responsible gambling tools on offer that can help people who are struggling. However, you currently won’t find a mass self-exclusion option like GamStop.
The government of Curacao is another regulator that you will frequently see as alternatives many players look at for top non-GamStop casino. This is more of a token type of regulator as it doesn’t really do much. Once it issues a license, its work is done.
Therefore, a lot of online casinos will get a license from the government of Curacao even though there might be questions about their safety. Therefore, you’ll need to make sure to do some of your own research before committing to using an online casino that only has a license from the government of Curacao.
Casinos Not on GamStop and No Little Regulation
The last type of regulation is those markets that have zero oversight. There are online casinos out there that do not have a license from any form of regulator. These are platforms that tend to be quite rogue in their operations and are best avoided.
They might not all be nefarious in their intentions, but they might not have good security protections in place when it comes to your sensitive information. Then there will be those offerings that have bad intentions. Some might have rigged the games so that they are wildly in favor of the casino, while others might try to steal your funds and not honor the withdrawals.
Which Form of Regulation is Best?
There is no one size fits all approach. Most of the different types of regulations will have their own pros and cons. The only option that should be avoided full stop is those with no regulations.
Otherwise, you’ll need to figure out what is going to be the most optimal for your situation. The US online gambling sector is going through a massive wave of change at the moment. Each state has its own set of regulations in place.
As time goes on, they’ll start to see what type of approaches are working the best and what needs to be changed. This is often something that only comes by trial and error, as every market is going to have its own quirks and nuances when it comes to consumer behavior.
Vivek is a published author of Meidilight and a cofounder of Zestful Outreach Agency. He is passionate about helping webmaster to rank their keywords through good-quality website backlinks. In his spare time, he loves to swim and cycle. You can find him on Twitter and Linkedin.