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In most jurisdictions, the owner or owners of a company will have to undergo certain checks before their company will be issued with a license.
If they have a criminal record, are not financially sound, or have been involved in any kind of shady activity, they may be deemed unsuitable.
This particular requirement helps to keep sleazy characters out of the industry. A common safety concern relating to online gambling is the fear of deposited money being lost if a company goes out of business.
This should mean that all customers of a site would still get their balances back in full even if it goes bankrupt. This requirement applies to sites that offer any type of gambling games, such as casino games or poker.
One of the biggest concerns among people playing such games online is whether they are fair or not. They worry that the games might be fixed somehow, to ensure that they lose money.
Although such concerns are understandable, they are also largely unfounded. There have been a few cases of unethical operators cheating their customers in some way, but licensed sites have to have their game software tested and approved by third parties.
This testing process ensures that all the games being offered are fair, meaning they produce random results. Licensed sites are generally subject to regular auditing.
This is also carried out by approved third parties, and is effectively another line of protection for customers.
An audit will typically include checking that random number generators are working correctly where relevant, that game payouts are in line with statistical expectations, and that funds are properly segregated.
Various other checks are often included as well. Regardless of how good a gambling site is, there will always be occasions when a customer has some kind of dispute or complaint.
A formal complaint procedure is usually a requirement of licensing agencies. Likewise, any disputes that cannot be resolved are then passed on to the relevant licensing authority.
But that fee is pretty much the same for any site out there. Meaning we have no financial incentive to promote one site over another. Our goal is to offer you guys the most fair way to bet on.
When it comes to online casino betting sites, for example, we really like to see games from NetEnt, Microgaming, IGT, and Playtech.
These companies have a long history and are guaranteed fair. We know this industry is highly innovative and are always willing to give upstarts a chance.
However, we need to dig deeper and find out if these companies are reputable, and ideally want to see third-party verification of payouts.
Safe betting sites will have no problem publishing payout rates and explaining how the software works.
The longer a betting site has been around the better, in our view. In those cases, we look at the management team and company running them.
If they are experienced and run multiple safe betting sites, we are happy to recommend them. Part of the key to staying safe when betting online is education.
Credit and debit cards, e-wallets like Skrill, PayPal, and Neteller, Bitcoin, wire transfers, are secure for both deposits and cashouts.
In theory, not all sportsbooks without a license are scammers. We recommend sticking to the safe betting websites that have the necessary accreditation to avoid trouble.
You have the responsibility to protect yourself following several simple rules that are mostly down to common sense.
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Is betting on sports online legal? Why do betting sites ask for ID documents? The exact regulatory requirements vary from one licensing authority to another.
Some are stricter than others, but the reputable ones all ensure that certain minimum requirements have to be met.
The following are what we consider to be the most important requirements. Separation of customer funds from working capital means that any balances that customers have at a site would be protected in the event of a site going out of business.
They have to be completely ring-fenced so that they can be returned in full, even if a site is forced to enter bankruptcy or liquidation.
When a site is subject to third-party audits and testing, it basically means they are unable to hide anything that might be going on. They have to provide full access to their records, their servers, and their software.
This is all checked on a regular basis to ensure that everything is as it should be at all times. Sites are typically directed as to which companies they should use for third-party audits and testing.
For example, some licensing authorities insist on the use of iTech Labs. This is a very reputable company that has proved its integrity and independence time and time again.
It helps to keep the criminal element out of this industry as best as possible. Properly regulated sites are therefore required to take all reasonable precautions to keep this information safe from hackers or other external sources.
This should include the use of the latest technology and any other necessary security measures. As you can see, regulation of the online gambling industry definitely serves a purpose.
But, for now, please follow the advice on this page and ensure your own online safety as best you can. Make sure that you only ever use gambling sites that you KNOW are safe, such as the ones that we recommend here.
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