What’s the Deal with Online Casino Regulations?
If you've played on online casinos as much as we have, you've probably noticed the range of different regulations which seem to exist in various locales. This can cause some difficulties for players. Of course, regulations are put in place to protect both the user and the casino, but many times we've been faced with questions about them. How do they work? What makes them necessary? What is the end effect for the user?
Much of the confusion in this realm comes from the idea that the internet is a global community. As people of this global community who are living in the free world, we all have the same rights - and here, the same level of access... right? Well, it's not that simple.
Most of the internet might be available from anywhere, but the actual rules regarding its use come back to the laws of your regional government. This can mean the governments of individual countries, but regulations can also operate through a collection of countries with similar values in a greater agreement - or even be more specific to your locale, such as in the case of a US state.
Such is the case for Northern Europe, where regulations have followed similar routes. In this instance, Nordic regions have recently become a more cohesive group with Sweden's entry into the world of online gambling regulation, with the Swedish Gambling Authority filling the last remaining gaps in 2019.
By normalising such regulations across this corner of Europe, regulators effectively streamline the online market to a degree which is much more efficient for everyone involved. According to casinoer.com, for example, websites catering to specific geographic locations can now be easily grouped due to regulatory similarities within these areas. These casinos include standards such as bonuses and free spins, which could otherwise face problematic integration if the involved laws were wildly disparate.
So what makes these old and new gambling regulations necessary?
The internet, as with most digital technologies, is a rapidly evolving place. While this gives a consistent range of new opportunities, it also means that no form of safety will be perfect forever. With each development come new holes, with each patch come new workarounds, and this is an issue which needs to be constantly and consistently addressed.
Online regulation works by binding companies to established safety standards, both at the point of joining and going forward with each new development. The obvious advantages here are that the customer is protected from fraud, and the casino itself is inoculated against lawsuits which may arise in the case of compromised systems. This also helps avoid laundering and protects against the involvement of organised crime, which has been an issue for other types of successful online industries.
One of the more interesting facets here is the fact that, to cover the entire range of potential risks, regulations within these industries are concerned with practically every aspect of the online casino site. The website design, the deposit and withdrawal systems, the company finances, and even the games themselves are regularly run through intense scrutiny, all in pursuit of the same end-goal.
Online casino regulation is a complicated matter, but it also a necessary element for such a wide-ranging and developed industry. Regulations keep everybody on both sides of aisle safe, and while it not simple or cheap for the casinos, it is the primary reason why online casinos have become so varied and successful today.
