License: is it a guarantee?

[Lida93]

Almost every gamblers notably those that make use of online Casino's for their gambling have the notion that except from a license owned casino they don't use any  casino without a license, which I think is a cautious thing to do.

But have been wondering and wanting to ask, does a license guarantees that a casino won't scam it's customer's going forward.

[Cantsay]

But have been wondering and wanting to ask, does a license guarantees that a casino won't scam it's customer's going forward.

No, it’s not a guarantee.

Take 1xbit.com for example, it is a licensed casino but that did not prevent them from their scammy activities and the same goes for other casinos that have being labeled as a scam in this forum but yet have acquired their license.

[Hispo]

I personally do not think it is a guarantee, like 100% safe, but it would certainly help for us to avoid getting or ways crossed with shady casinos or casinos with suddenly engage in shady activity.
It does not take to look too back in history to realize that a very trusted casino with years of operation could easily defraud their gamblers and take their funds without saying anything.
One must take in mind that licenses are pretty much a document or digital Registration which is issued in a centralized way, and hence it is possible to fake or somehow corrupt the issuer of those licenses.

Even though some good license helps, I would say it is a complement to what are the most important things for a casino: track record, liquidy, provably fair games and active number of gamblers.

[Oshosondy]

But have been wondering and wanting to ask, does a license guarantees that a casino won't scam it's customer's going forward.

A casino having license is a more step towards that the casino is not belonging to scammers. To obtain a license, you need to pay huge amount of money. Also before you can be given, you will make sure that the service you want to provide to people is of standard so that you can be given the license. Unlike unlicensed casinos that scammers can easily clone a legit site and use it for their dubious activities.

[Rruchi man]

But have been wondering and wanting to ask, does a license guarantees that a casino won't scam it's customer's going forward.

It is no guarantee.

A casino may change management without your knowledge and the license obtained by the previous owners is passed to the new owners who you may never know their intentions.

A license in some countries can also be illegally obtained with enough money to bribe the officials that issue the license.

[Dr.Bitcoin_Strange]

But have been wondering and wanting to ask, does a license guarantees that a casino won't scam it's customer's going forward.

The licences that those casinos acquire is what permits them to run as a legally developed casino. The license gives them permission of Operation but that doesn't mean they can't scam customers, but if they do and it is being detected, then they will be at risk of paying fine or shorting down if any legal case is file against them.

[acroman08]

But have been wondering and wanting to ask, does a license guarantees that a casino won't scam it's customer's going forward.

while it means that the casino has been given the right to operate legally after passing the requirements needed to get the license, it does not guarantee that the casino will not scam its gamblers. from what I remember being here in the forum, there have been some casinos that had a license but ended up scamming their gamblers. this is also why it is important not to easily trust a casino just because it has a license.

[Slow death]

in my opinion the license is only for the US government not to come and learn the casino and confiscate people's funds claiming that the casino operates without a license and does money laundering, funny that licenses are not issued by the US government, they are issued Curacao government, the US government has a lot of rules and that's why they don't give licenses to online casinos, but from what I see they are not tough when the casino has a Curacao license and is not dealing with US citizens or is not causing problems like don't ask for kyc. So it is important to have a license, just for regulatory reasons. the government of curacao doesn't care if the casino respects customers or not, the government of curacao doesn't care about scammers

From what I see, the Curacao government only grants licenses and then forgets who they gave the license to. I've never seen anyone say that the government of Curacao has punished a scam casino and the owner of the scam casino. But if it were the USA or the European Union that issued the license, then we wouldn't see scammers creating casinos and disappearing. By this I mean that scammers know very well that the license does not harm them if they steal. That's why everyone, when we choose a casino, we shouldn't look at the license as if that would make the casino trustworthy, the license should be in the casino due to regulatory issues, but people should do investigations about the casino to know if the casino is a scam or no

[serveria.com]

Almost every gamblers notably those that make use of online Casino's for their gambling have the notion that except from a license owned casino they don't use any  casino without a license, which I think is a cautious thing to do.

But have been wondering and wanting to ask, does a license guarantees that a casino won't scam it's customer's going forward.

Definitely not. There were cases of scammers using gambling licences from countries like Curacao. I'm not an expert I'm not sure how hard is it to acquire such a license or how much it costs, but check any casino reviews website and there are horror stories of scam casinos with Curacao license so it's probably worth it. 

[Kemarit]

As others have said, it's not a guarantee, and I can say that it's not that expensive to get a Curacao License to start your online gambling site.



https://gbo-licensing.com/curacao-gaming-license-fees/

I mean this business involves millions of dollars I reckon to start, and so paying like $10,000 or more as gambling license is that small. And it's easily be accomplished and even it's annual and recurrent charges are not that big.

So maybe those who obtain licenses and then becoming a scam? they could have made that money already.

[Mr.suevie]

Almost every gamblers notably those that make use of online Casino's for their gambling have the notion that except from a license owned casino they don't use any  casino without a license, which I think is a cautious thing to do.

But have been wondering and wanting to ask, does a license guarantees that a casino won't scam it's customer's going forward.

I guess it can be a two way thing because a licensed casino is what verifies the casino legality to some extent while unlicensed casino can be a copy cat of the original site used by scammers to defraud gamblers and in the other hand the casino can be licensed and still fall short in terms of meeting the needs of their customers due to many case scenario that might warrant gambler or reviews to actually tag the casino as a scam site.

[uneng]

No, it’s not a guarantee.

Take 1xbit.com for example, it is a licensed casino but that did not prevent them from their scammy activities and the same goes for other casinos that have being labeled as a scam in this forum but yet have acquired their license.

Yes, that is true. And the opposite is also possible. As an example we have freebitco.in, which operated without a license for many years, but never got involved in any scam scandals. I believe it has more to do with the intentions of the people behind the website than formalities and regulations imposed by authorities. When people want to act in shady manners, they will do it somehow, even if in order to do that they have to find gaps on regulatory frameworks, while someone who is willing to work in a legit and honest way will do it, even if there isn't any authority or coercitive force to impose rules on him.

History and reputation of the casino are more important than licenses. Licenses can be acquired and purchased at anytime, while reputation can only be built brick by brick along years of history, dedication, effort and transparency. That is what gamblers should pay attention to when choosing a casino where to play.

[cabron]

As others have said, it's not a guarantee, and I can say that it's not that expensive to get a Curacao License to start your online gambling site.



https://gbo-licensing.com/curacao-gaming-license-fees/

I mean this business involves millions of dollars I reckon to start, and so paying like $10,000 or more as gambling license is that small. And it's easily be accomplished and even it's annual and recurrent charges are not that big.

So maybe those who obtain licenses and then becoming a scam? they could have made that money already.

$10K would be small if they are up to pull a bigger scam. Just today, the scam accusation of a casino with a license from Curacao was brought up again and this casino had not replied back to the accusation. The casino operated for years though and I remember playing baccarat in this one. Couldnt believe they were very pro at that time.

We just can't say whether a casino is a scam until it becomes one. That is one reason not to trust one or put all your gambling funds in one casino, you can't just tell they could just do it when they decide they got enough.

[Fortify]

Almost every gamblers notably those that make use of online Casino's for their gambling have the notion that except from a license owned casino they don't use any  casino without a license, which I think is a cautious thing to do.

But have been wondering and wanting to ask, does a license guarantees that a casino won't scam it's customer's going forward.

It's definitely not a guarantee that a casino isn't a scam, however it makes it less likely. There's such a big variety of license offerings out there, you need to analyze each one and understand the positives that it brings. Some are simply a rubber stamp type operation, where you pay a fee (generally once a year) and you can call yourself "licensed". However that is the lowest rung and the most likely target of scammers, that are looking to abuse the supposed trust that a regulator is meant to bring. However there are better jurisdictions, that cost more to use but will be a little bit better at holding casinos to account (requiring them to answer complaints adequately) and do more vetting behind the scenes on people the company registers as representatives.

[alastantiger]

But have been wondering and wanting to ask, does a license guarantees that a casino won't scam it's customer's going forward.

Having a license as a casino is like having an address as a human being or a social security number. That is something that identifies you. For the casino, scams are still carried out by even licensed casinos but then the regulators or the authorities know that this is a legal business and would know how to mete out the punishment if need be. This is just one perspective.

[MainIbem]

License or not they can still scam their bettor or player and link it to their ToS because I don't see any reason of using a licensed casino and yet still face difficulties of withdraw or deposits, there are lots casinos that are licensed yet whenever you visit the site you would witness a hardship over there. License is an operating authority of power to carry out such service and there will be no need to operate underway without having to go through the legal way, that is to say licensed casino are those casinos that are legally operated but doesn't mean people won't undergo hard time over the process of using the platform.

[Nwada001]

Being licenced most of the time is one of the fastest means to scam customers. They use the licence to buy the gambler's mind, and they will deal with them with their scam scheme under their noses. If you check most casinos that have been tagged as scammed, some of them have legitimate licences from reputable bodies that give casinos the go-ahead.
 
Sometimes they fake licences just for them to be in the means of legitimate gambling businesses operating, and another thing about licences is that now a fake team can be used to get a licence, and when something bad like a scam happens, no one is held accountable for it.
 
A licence, if it's legit, can only reduce the amount of scam that the casino will carry on, as they would want their licence to be withdrawn if serious allegations are being raised against them, but that doesn't prove 100% that they can be scam-free; one just needs to make their own investigation into the areas they want to verify before they move ahead and gamble at any casino.

[dothebeats]

Having a license on a casino does not guarantee that they will not scam other people. It's just a proof that they are allowed to operate their activities. They can still scam other people and be lost without a trace. With a lot of people getting their identities stolen by fraudulent entitie, it's not impossible that these licenses are registered with fake identities leading to other people. So yeah, even if a casino has a license to operate, never put 100% of your trust to them at all.

[CryptoHeadlineNews]

But have been wondering and wanting to ask, does a license guarantees that a casino won't scam it's customer's going forward.

Though licensing may not guarantee if will a casino scam it's customers or not, but at least it gives room to whichever customer whose right has been violated to take legal action against the casino and finally has his/her case fully handled by whichever body said to be regulating such casino. However, licensing gives gamblers a step forward to knowing which casino likely to have lesser risk for gambling and which not for, where they can have easily have access to both fast deposit & withdrawal, which has always  been one major problem people always have with online casinos.

[Wiwo]

Almost every gamblers notably those that make use of online Casino's for their gambling have the notion that except from a license owned casino they don't use any  casino without a license, which I think is a cautious thing to do.

But have been wondering and wanting to ask, does a license guarantees that a casino won't scam it's customer's going forward?

Let me be forward and straight with you mate, the majority of us,  don't even check the license of the casinos we are using and we play there based on the trust we already have in them and since they haven't disappointed,  but we sure that they have the licenses renewed yearly since it is implemented in the terms and conditions.

So with that,  many have felt relaxed and never taken the issue of licensing seriously,  some times it is even at the point of KYC that you get to discover that there are some differences in the licensing origins from the AML demands.