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Every industry or sector usually have regulatory bodies overseeing conducts and practices. Just like all other sectors with their regulatory bodies, the gambling and casino industry is not left out.
The online gambling industry operates under the regulations set by compliance bodies all over the world. Furthermore, any casino or sportsbook operating with a license from one of the recognized regulatory bodies has agreed to operate under some carefully formulated rules.
The gambling ecosystem is a billion-dollar industry with millions of online gamblers all over the world. As each day passes, new players are joining the gambling train. One important criterion to watch out for before signing up with a sportsbook or casino is its licensing status. Most times, shady casinos and sportsbooks will operate without any license. Legit casinos or sportsbooks will always display their licensing information on their official website which can be verified by anyone.
So, what licenses should your watch out for when you want to sign up with a casino or sportsbook? Below are some of the top bodies issuing licenses to certify the legitimacy of a casino or sportsbook
UKGC
UKGC stands for United Kingdom Gambling Commission. It’s the body in charge of regulating and issuing license of operation to any business offering gambling services in the UK. The UKGC regulates casinos, online bingo sites, and even the national lottery.
MGA
MGA stands for the Malta Gaming Authority. The MGA regulates and oversees any gambling business in Malta and Europe. The MGA issues licenses to legitimate casinos and sportsbooks who want to operate in Malta and Europe at large.
AGCC
AGCC is the short abbreviation for Alderney Gambling Control Commission. Since its inception in the year 2000, it has taken on the mantel of online gambling regulation in the state of Alderney. It sets and ensures high compliance standards for gaming companies and casinos. The AGCC also issues and verifies operating licenses for legit casino operators and gambling business owners.
Kahnawake Gaming Commission
When it comes to online gaming and gambling activities in North America, the Kahnawake Gaming Commission readily comes to mind. According to Casino.org, it oversees 50 licensed operators with over 250 gambling websites. The Kahnawake Gaming Commission regulates online sportsbooks, casinos, and poker rooms all over North America.
So why should You make sure a casino or sportsbook is licensed by a recognized body? Here are some of the benefits you get to enjoy when you sign up with a licensed casino or sportsbook.
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The protection of online bettors is one of the reasons why you should sign up with a licensed casino or sportsbook. Licensed gambling operators are held to high standards of security and encryption to protect players’ data.
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Games at licensed casinos are fair with random outcomes. You are guaranteed fair play and the fear of rigged games is eliminated.
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Cash-out is never a problem as your winnings will be paid in due time when you request withdrawals.
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Licensed gambling operators are accountable to the regulatory body. Hence, you are certain that they won’t flout any rules or behave improperly to your detriment.
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In the case of a gambling operator going bankrupt, you are sure that your funds are safe and your deposits will get refunded
