What are the different Levels of Gambling Regulation? 

casino 6784542 960 720 - What are the different Levels of Gambling Regulation? 

There has been an explosion in the world of online in recent years. More and more countries have realized just how lucrative it can be through legalizing various forms of gambling. The tax revenues and job creation are some of the big driving factors for the expansion of gambling in many regions. This includes the US, where many states have started to embrace the likes of sports betting, online casino, and poker platforms.

 

More people also have access to the internet no matter where they are thanks to the strong computing power and connectivity of mobile devices. This has led to the massive growth of the online gambling sector. Each region will take its own approach when it comes to regulating online gambling. This article will look at what the main types of approaches are and how effective they appear to be. 

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Markets With Heavy Regulations

There are some countries that allow various forms of online gambling but there are also extensive restrictions in place at the same time. This means that the regulator attempts to tightly control many different aspects of gambling online.

 

The UK Gambling Commission is one of the foremost gambling regulators in the world, having a reputation for being tough when it comes to dealing with operators. There has been a wide range of measures that the body has brought into place in recent years to curtail the gambling space.

 

Some of these measures in more recent times include the total banning of people using credit cards for gambling reasons, as well as banning certain types of game features and curtailing bet sizes. With the UK government currently reviewing the region’s main gambling legislation, it appears that even more restrictive measures are on the way.

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Sweden is another nation that has a tough regulatory body in place for the gambling sector. The Swedish Gaming Authority has only been up and running for a couple of years, but it has already built a track record for being very strict with operators. This has led to many fines being handed out. One of its most controversial measures was implementing a very strict deposit limit on online casino players during the pandemic. 

Markets With Medium Regulations 

Some regions fall in between having heavy regulations and light ones. These are often markets that are still trying to find their feet and figure out what approach is going to be the best fit for the given situation. The likes of the Netherlands and Germany have online gambling sectors that have only been operating in a regulated sense for a short period of time. Naturally, there will be some teething issues that need to be resolved.

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They both have some limits on certain online slot game features for example, as well as limits on transactions. However, there is more freedom in general than what you find in the heavily regulated markets. These regulators also take a proactive approach to responsible gambling, having very strong support services and self-exclusion systems that can protect people who might be struggling with their gambling activity. 

Markets With Light Regulations

Some regions have regulators in place that tend to take a more laid-back approach to oversight. The Malta Gaming Authority is a very popular regulator for those platforms that wish to operate in a lot of regional European markets. It does have a solid reputation for taking action when needed.

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However, it does not really have any restrictions on the types of games that operators can offer and the payment options that are available. Everything is done in a more relaxed manner. While there is no mass self-exclusion offering available, most operators with a Malta Gaming Authority license will have their own individual responsible gambling tools.

 

Another regulator that you will frequently see in the online casino space, particularly if you are looking at crypto casinos and non-GamStop casinos is the government of Curacao. This is a regulator in name more than anything. It hands out licenses with little to no due diligence done on the applicant.

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They do not really conduct any oversight at all on operators, so these platforms can do exactly what they want. Therefore, you will want to do a bit extra research into a platform that only has a Curaçao license before you proceed with creating a new account and adding money to it. 

Markets With No Regulations 

The final type of regulation is no regulation at all. Some platforms completely dismiss the idea of getting any type of gambling license. They operate to the beat of their own drum and follow their own set of rules.

 

Generally, gamblers should avoid using these types of platforms as you just don’t know what to expect. The uncertainty levels are too great, so you could be opening yourself up to a whole host of issues.

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Some of the things you might turn into include poor security protection for your sensitive data, not honoring withdrawals, and playing games that are excessively rigged in favor of the casino. These are things that nobody really wants to deal with. 

What Type of Regulation is the Best? 

You won’t find a one size fits all answer to this question. Many of the different types of regulations will have their own pros and cons that you need to weigh up. The US market is like a microsome of the different types of regulations as each state makes its own rules.

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Some have very strict regulations in place, while others are a lot looser. Therefore, it will be interesting to see how the different forms of regulation evolve over time when it comes to the various US states that have legalized different forms of online gambling in recent times.