Transparency of nationally licenced casinos

[Julien_Olynpic]

To be honest, getting national or other licenses often does not make the casino work better, although in theory it should. I look at the casinos and bookmakers in my country and I see a lot of abuse from bookmakers, for example. What upsets me most is the blocking of the accounts of those players who are successful. If you make a profit from a sports betting site in the long term, then in 99% of cases you will be blocked. Unfortunately, this is the situation with gambling in our country. And the regulator just turns a blind eye to it. So what is the point of these licenses?

[rodskee]

Statistically speaking, most gamblers these days play on casinos licensed by their country's government for many reasons.

number one reason i can think of is because it is the safest in terms of not having to worry about getting in trouble with the government

But in terms of transparency, crypto casinos that usually are licensed under more permissive offshore licenses (or maybe not even licensed at all) have standards of transparency that are much higher.

i think this is only a generalization because some casinos that are not licensed do not operate that honestly either maybe some that are very well deep in within their community but we can not deny that there are really some questionable and suspicious ones

we just need to find good and reliable ones no matter what kind of casino we want to go for

[AVE5]

Statistically speaking, most gamblers these days play on casinos licensed by their country's government for many reasons.
But in terms of transparency, crypto casinos that usually are licensed under more permissive offshore licenses (or maybe not even licensed at all) have standards of transparency that are much higher.

The most interest of gamblers that attracts them to play on the licensed casinos of their governments could be basically reason that their governments has always been concerned of it citizens by which they implements casino policies that considers transparencies within the accordance parties in the casinos.
Most especially if the regulatory policies focuses on justifications Incase of comprise between the cainsos and the gamblers. So, gamblers would have that insights of such licensed casinos to be legitimate and reliable to their best interests of playing with them without panicks.

[coin-investor]

Statistically speaking, most gamblers these days play in casinos licensed by their country's government for many reasons.

The logic is you can easily file a complaint because of the location and the decision is faster and you will not spend a lot of money than when you're going to complain offshore.

But in terms of transparency, crypto casinos that usually are licensed under more permissive offshore licenses (or maybe not even licensed at all) have standards of transparency that are much higher.

Its always been on the requirement place by your license issuer, and besides the license, its always on the preferences of the casinos to keep up with a highly competitive industry like gambling; players will always go for transparent casinos.

[96OFFICIAL]

 The goal of these transparency practices is to protect players, maintain the integrity of the industry, and promote trust between the casino, its customers, and the regulatory bodies that oversee their operations.

[Saint-loup]

For instance, government licensing bodies may be focusing on income statements for "protection" or taxation.
This is a very stark contrast to what standards the crypto gambling industry holds itself up to.

It's interesting to observe that while crypto casinos avoid placing any limits on gambling such as requiring income statements or taxing profits...

I disagree with you about this point, from my experience national casinos are way less intrusive than crypto casinos asking KYC, at least in my country. For example the exact same picture of my passport has been accepted without difficulty by the national online casino I'm currently using while an offshore casino has asked me to send a selfie of me holding it with a paper showing my username and the today's date after I sent it for finally rejecting it saying it's too blurry. And for the proof of residence they offer to freely send a mail to the customer's physical address containing a one-time code, if you don't want to send them private documents. I've never seen such option from an offshore casino up to now.

[stompix]

For instance, government licensing bodies may be focusing on income statements for "protection" or taxation.
This is a very stark contrast to what standards the crypto gambling industry holds itself up to.

The gambling industry is mainly about gambling, crypto is just a medium of transferring the money from the players to the bookies and so on.

If crypto gambling were more like crypto in general you would firstly have no centralized casino and bookie, then you would not have custodial wallets, no kyc, and of course no central authority. But gambling is a business, the website is run by a company so it must adhere to the laws of the country it operates just like normal gambling casinos do.
Imagine I would run a pharmacy in a country and just because I deal only with crypto I would not let any government rule how I run my business, to whom I sell medicine and never disclose my accounts to the IRS, would that be normal? 


 

[Smartprofit]

In my opinion, in any type of activity, you need to focus on the most important things. At the same time, unimportant things can be safely ignored.

In the activities of online casinos, licensing is far from the most important thing for a player. What is more important is the honesty of the founders of the online casino, the ability to withdraw funds at any time without problems. In my country, it is not customary to trust the government.

Therefore, I do not really understand what benefit online casino licensing can bring to me (as a player). Personally, I do not see a direct connection between casino licensing and my comfortable gambling. These things, in my opinion, are not connected in any way.

Therefore, all other things being equal, I will choose an online casino without a license if all other conditions that I apply to an online casino meet my expectations.

[shasan]

Somehow these gamblers seem to find more confidence in been able to gamble at the government approved or licensed casino because they believe accountability will come with such casinos as they have the government to contend with if they at some point get involved in any form of malpractice but like you said they actually get smart with their odds and the crypto casinos may not get involved in such because adding crypto to their casinos alone gives them an edge to generate some extra funds and so it becomes absolutely unnecessary to get involved in odds manipulations.

When online gambling gets a license from the government the users of the gambling site pay more attention to the site and feel comfortable using the gambling site as according to the users it is safe for them. I think they feel safe as they think these gambling sites can't scam as they are regulated.

[tread93]

National licensing bodies for gambling games seem to be focused on certain aspects of gambling that might seem very peculiar to a regular gambler that has gotten accustomed to gambling online with crypto over the past few years.

For instance, government licensing bodies may be focusing on income statements for "protection" or taxation.
This is a very stark contrast to what standards the crypto gambling industry holds itself up to.

It's interesting to observe that while crypto casinos avoid placing any limits on gambling such as requiring income statements or taxing profits... They are holding themselves to very high standards by implementing provable fairness on their original games and many even going as far as to publish the RTP of their slots games.

Bricks and mortar casinos these days are featuring e-slots and many e-games versions such as blackjack, roulette etc. but almost never are transparent with the odds. And the same goes with many nationally licensed online casinos too. The only provably fair game online casinos will have is Crash, and that's even IF they are running it under the proper license and not just stealing the concept without authorization.

Statistically speaking, most gamblers these days play on casinos licensed by their country's government for many reasons.
But in terms of transparency, crypto casinos that usually are licensed under more permissive offshore licenses (or maybe not even licensed at all) have standards of transparency that are much higher.

Wow, now isn't that just hilarious that crypto gets such a bad rap (or used too- feel like the tides are changing!) and they hold themselves to even stricter standards than that of land based casinos. This just baffles me. On the other side of the coin though they also probably have way more legit KYC and Anti Money Laundering for governments that are much more stringent simply because they deal primarily in crypto transactions & are much more subject to audit probably for that reason. So bacially playing in that field has forced them to hold higher standards because crypto is much more strickly regulated (or one day soon will be).

[stompix]

If you make a profit from a sports betting site in the long term, then in 99% of cases you will be blocked. Unfortunately, this is the situation with gambling in our country. And the regulator just turns a blind eye to it. So what is the point of these licenses?

Depends on where you live, in Europe. Then you're in luck!
If your country has a gambling agency that is on par with the UK, you are able to fill a complaint and provide the data, there are organizations that would help you file a case against them in court and if you indeed are being wronged by the casino they will try to reach a settlement rather than risking their license. A gone license means blocking the whole country so loss of money and a red flag for other countries too.

Now for playing in a casino that is unlicensed, you risk the same happening with no help and on top of that you might experience other problems when h the IRS equivalent asks you how you got money from someone who is not supposed to operate there.

But the most important thing is thinking why this casino is not getting a license or has one rejected, that should be the first thought when accessing it.

[AmoreJaz]

If you make a profit from a sports betting site in the long term, then in 99% of cases you will be blocked. Unfortunately, this is the situation with gambling in our country. And the regulator just turns a blind eye to it. So what is the point of these licenses?

Depends on where you live, in Europe. Then you're in luck!
If your country has a gambling agency that is on par with the UK, you are able to fill a complaint and provide the data, there are organizations that would help you file a case against them in court and if you indeed are being wronged by the casino they will try to reach a settlement rather than risking their license. A gone license means blocking the whole country so loss of money and a red flag for other countries too.

Now for playing in a casino that is unlicensed, you risk the same happening with no help and on top of that you might experience other problems when h the IRS equivalent asks you how you got money from someone who is not supposed to operate there.

But the most important thing is thinking why this casino is not getting a license or has one rejected, that should be the first thought when accessing it.

I don't think a legit casino would do such practice even in online casinos. Because the word of mouth is very fast. So if there is casino which is doing such practice, it will spread like fire and gamblers will avoid that casino. And it is not good for their reputation. Hence, they will be out of business if they will continue to have that kind of reputation.

[kotajikikox]

When online gambling gets a license from the government the users of the gambling site pay more attention to the site and feel comfortable using the gambling site as according to the users it is safe for them. I think they feel safe as they think these gambling sites can't scam as they are regulated.

its not that they do not think these casinos are incapable of scamming them but rather if they indeed do scam them since these casinos are licensed, it will be easier to report and make sure that the victims are compensated. If you get scammed from a non licensed casino, you have no one to run to and you can blame no one else but yourself.

[Natalim]

When online gambling gets a license from the government the users of the gambling site pay more attention to the site and feel comfortable using the gambling site as according to the users it is safe for them. I think they feel safe as they think these gambling sites can't scam as they are regulated.

its not that they do not think these casinos are incapable of scamming them but rather if they indeed do scam them since these casinos are licensed, it will be easier to report and make sure that the victims are compensated. If you get scammed from a non licensed casino, you have no one to run to and you can blame no one else but yourself.

It never ensures security for the players, but at least we know they have accountability and a person in contact in case a scam happens. In fact, that is what we want, as we trust them, and it was their obligation to show transparency. Having a license is a ticket that can be used to gain trust and maintain the good reputation of the whole gambling industry. That is why gamblers look at the legitimacy of the site before making deposits. Because even if we lose, at least we are certain that it was fair.