Licensing Jurisdictions Overview
Selecting an online casino which is safe and secure can be quite a challenge. There are a number of things that the users will have to look into and evaluate in order to choose which sites are authentic and safe for them. In most cases, the online sites are not even regulated which makes it even more important to be careful about selecting online casinos. Online casino security and its safe casino banking are of utmost importance.
In land based casinos, things are a little different. There are very strict rules and regulations which the casinos have to follow otherwise they risk losing their licenses. The gaming board and the local jurisdiction of the state are responsible to ensure that there is a safe gaming environment in the land based casinos.
Selecting a good online casino
Before selecting or signing up with any online casino, the players should basically test and screen every online casino according to several evaluation criteria. The main criteria which should be considered by the players must include the licensing jurisdiction, audit trails of the financial transactions, the wagering activity, the transparency, terms and conditions, the quickness of the transactions, fairness, usability and fairness, software partners, secure ownership, financial backing etc. This means that there are numerous things to keep in mind while selecting a casino.
Licensing jurisdictions overview
Licensing jurisdiction is the jurisdiction which provides licenses to the online casinos. There are several different licensing jurisdictions for online casinos. However, there are only a handful of those which are secure and which enforce strict requirements. Today, there are more than 70 different licensing jurisdictions which control the online casinos. Most of these do not enforce any strict probity requirements or controls over the licenses which are issued to the online casinos.
Here is the ist with the most strict and highly recommended licensing jurisdictions:
- Curacao, Netherlands Antilles
- Barbuda and Antigua
- Kanawhake, Mohawk Territory, Canada
- New Zealand
- Isle of Man and United Kingdom
- Costa Rica- though it does not really have a great reputation, it is becoming stricter.
The land based casinos have to go through very strict audit requirements. However, online casinos are not really required to have an accredited third party audit because of such fragmented licensing requirements. However, those licensing jurisdictions which are stricter will demand their online casinos to be audited through third parties like Price Waterhouse Coopers which perform the audits of the payout percentages, hardware stability and software integrity.
Also, there are a few industry bodies which an online casino might belong to. These industry bodies are IGC, Independent Gaming Commission along with eCOGRA which is e-commerce Gaming Regulation Association. These industry bodies encourage safe online gaming environments.
Finally, it is only up to the player to decide which online casino is the best for them.