Playing on online casinos can be fun and entertaining, but did you know, it could also be very costly if you’re not careful? No, we’re not talking about the fact that you might lose some money (duh, casino games are based on luck 100% of the time) playing, but you could also lose some money you THOUGHT you were winning. Now, this is not to scare you, but it’s a risk that has to be taken seriously, if you’re playing on unlicensed casinos.
Within the EU, there’ve been few instances where a country (that shall not be named, but we call it Sweden) have enforced rules regarding foreign gambling companies, forcing them to either pay hefty fees, or withdraw from offering games to that specific country once and for all. These examples have shown us that the actual gambling hasn’t reduced that much, but the share of so called “black market” casinos has increased rapidly. Black market casinos are basically just unlicensed casinos, that doesn’t have anyone watching what they are doing – you could probably already see why this could be a bad thing.
If there’s no regulation, or 3rd party organisations to secure the fairness of online games, there WILL be operators that try to take advantage of that.
For example: If you have a dispute with your MGA (Malta Gaming Authority) licensed casino, you could write up a letter to MGA and your case would be investigated (if deemed necessary). This way you can always be sure that you are treated fairly, and it also holds the casinos accountable.
Are the markets regulated in 2030?
When there is several billion euros on the line, you can bet your butt that there’s going to be government level regulations implied. Gambling markets are pretty heavily regulated already (even forbidden somewhere), and we’re not seeing any decline on that trend. In the future, however, we’re hoping to see more fact based regulations, and less “because it’s always been like this” -type of regulation.
What do you think, how are the gambling markets looking like in 2030?
Paul Collins is a freelance journalist from Newport, Wales. Paul has worked within the Gaming Industry since 2009. Paul focuses mainly on sports but also covers regulatory and compliance news pieces.
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