You might have noticed that the global perception of the iGaming industry has changed over time. The increased access to the internet, leading to the improvement in the gaming experience, has allowed more people to try out the variety of games that iGaming platforms offer.
Increased cybersecurity measures, regulatory amendments, improving fair play systems and robust legal steps are some of the reasons why iGaming has become more accessible and acceptable in online gaming.
This blog explores how licensing is the critical legal step that has changed how people see iGames.
What is licensing in iGaming?
The iGaming license is the legal document which is necessary to operate in the iGaming industry. This officially ensures that your online iGaming platform is not considered an underground business venture.
Different international regulatory bodies exist to issue licenses. It is in their authority to authorize and verify the licenses and ensure gamer safety. These authorities generally operate with a code of strictness. You have to ensure that you will follow the key regulations and principles to ensure that the gamers are not being exploited, before you are even allowed a license.
Some of the notable institutions in this context are: Malta Gaming Authority, Gibraltar Gaming Authority, Nevada Gaming Control Board, Casino Regulatory Authority of Singapore and so on.
How does licensing help gamers?
iGaming licensing is not only to legalize an online iGaming platform, but also to ensure the safety of the players.
Protecting the gamers
Licensing in iGaming mandates certain rules for the platforms. These rules make sure that these platforms cannot take any advantage of you, the gamer.
Suppose you download a rummy app. To start gaming on that app, you will need to input your personal information, and licensing ensures that this information is safe. Licensing also makes sure that the rummy games app you downloaded practices fair play and ensures that your finances are managed responsibly.
This legal framework can also set limits on how much you can spend on a game. Licensing also helps manage payment processing, encrypting the process to ensure that your finances are safe.
Accountability and transparency
The regulatory actions that coordinate licensed iGaming platforms are put in place for you, the player. Any iGaming platform you sign up for, is operating under these supervisions to ensure that you feel a sense of safety while participating in a game.
This ensures that the operators are accountable for your experience. And how is this possible? By making the rules and processes transparent. It is the responsibility of the operator to make sure that you are provided the necessary information.
Hence, you can confidently participate in the experience, as you know the opportunities and the limitations.
Dispute Resolution
What would happen if you were to be in a dispute situation against the operators? Here, the licensing bodies step in, forming an arbitration process.
And, what is an arbitration process? A neutral third party looks into your claim as well as the claims of the operators. Then, the neutral party will come up with a constructive solution. This constructive solution will aim to promote mutual respect and an amicable resolution.
How to know if an iGaming platform is licensed?
How would you know that your favourite rummy games app is licensed? There are a few indicators you can look into.
License information on the Application
Suppose you download a rummy app. You can look for its license information on the App Store if you’re an Apple user, or the Google Play Store for Android users.
The following sections can provide you with the license information:
- Legal
- Terms of Service
Or some apps will have their own ‘license’ section within the app, where you can find out the license type and the expiration date.
Checking Validity
Now that you are aware of the license information of your iGaming app. How would you know if the license is valid?
One of the first and simplest steps to know if your iGaming app has a valid license is its availability on the Play Store or the App Store. Or, you can directly check the developer website.
When checking, look out for spelling and grammatical errors, cross-check negative reviews and a low number of downloads. The things listed can be red flags indicating that the platform might be operating without a license.
Unlicensed Platforms: Why would you take the risk?
There are many unlicensed platforms in iGaming that operate in an underground capacity. They might seem attractive, offering rewards as a major motivator.
But, is the reward worth the risk?
Lacking Consumer Protection
Unlicensed apps can promise huge winnings at the end of a game. However, they will not mediate how much you spend chasing said winnings. And, no license can mean that the platform is not obligated to keep you safe.
The payment options can be unregulated, meaning that your transactions are not safe, opening the door to cyber crimes or theft.
Underground online platforms exist in what can be called the legal ‘grey zone’, implying that your participation is subject to investigation by law enforcement. Thus, your financial and personal safety are not guaranteed.
Data Privacy Concerns
The unlicensed platforms are not safe from cybercrimes. Not being associated with any regulatory authority leaves them without cybersecurity protection.
Thus, any data that you input into such applications is at risk of falling into the wrong hands or even being misused. Moreover, these platforms can claim to deny all liability in case of user data theft.
Legal Risks
What if your favourite rummy games app is not licensed? That could mean that your continued participation in the app’s offerings can be perceived as illegal.
As stated before, an unlicensed app exists in a grey zone, liable for investigation by authorities. Thus, your data can be seized by authorities, since, if the app is found to be committing illegal activities, you are complicit in it by participating.
How does licensing help iGaming’s reputation?
The authorities ensure that an iGaming platform receives a license only after promising to uphold some values.
The licensing authorities also regularly keep track of the values being upheld by platforms. This leads to:
Building Trust
If you know that your data is safe and both the platform and regulatory authorities are protecting it, a trust is built. You will trust the platform to keep your personal information and data safe and ensure your financial security.
Responsible financial management
As iGaming can contain an aspect of spending, the safety of your finances can be a major concern for licensed iGaming platforms.
Thus, they put restrictions on how much you can spend on a game. Alongside spending limits, these operators have also put systems in place to ensure that your financial data is protected, as they do not want customers falling into financial difficulties.
Conclusion
A licensed online iGaming platform, therefore, can be a safe option to experience iGaming online such as playing rummy, poker, blackjack and other card games. Licensing helps protect your finances, your data and ensures a secure experience.
If you are interested in online card games, you can try out some notable licensed iGaming platforms for a positive gaming experience.