What's even the point of licenses anymore?

[alani123]

Curacao used to be the main gambling license online casinos used to operate under. Their licensing structure was very shady. They had licensed 4 main title holders long ago and in turn these were issuing sub-licensed to anyone for very cheap.

Fast forward to more recent years, Curacao tries to overhaul their entire licensing process. Now entities who want a Curacao license must open a corporation there and apply for a much more expensive license that will be issued directly under the local state authorities.

Sounds much better than before as the path to seek liability would be much more direct. But there are several practical issues here. For instance, although Curacao's new licensing scheme is in full effect now, there's still no alternative resolution path that casinos under this licensing scheme have to follow. If anyone wants to go after them to find justice, the only way is local courts.

However, it has become apparent that even with these changes, online casinos will simply chainge their credentials and license, to start operating under a Comoros license to avoid judgments against them.

I can share a couple of very characteristic examples that involve casinos we're all familiar with:
1. https://igamingbusiness.com/legal-compliance/bc-game-curacao-bankruptcy/
2. https://bitcointalk.org/index.php?topic=5534261.0


So what's even the point of a license anymore? Soon there won't be any more obscure island nations left to issue title licenses that mean nothing further than their name. So what's going to be the next stem of casinos? Invent their own licensing authority in an obscure island? Who knows.
But the point is, why are casinos even bothering to pay for the issuance of these licenses when we all know they mean nothing? Might as well just go without a license. Why not?

[CryptoHeadlineNews]

But the point is, why are casinos even bothering to pay for the issuance of these licenses when we all know they mean nothing? Might as well just go without a license. Why not?

Inasmuch as they are operating in a certain jurisdiction and generating profits from gamblers in that jurisdiction, we all know it will be considered as illegal by government to be operating without a proper registration from law enforcement agencies in that region, which is why I think casinos still pay for licenses, despite the fact they play little or no effect to the welfare of citizens in that jurisdiction. However, secondly, when it comes to what means do a gambler needs to get justice for his/her fund with a casino, I think this licensing bodies are to blamed for failing to provide an active avenue where gamblers could report and get justice whenever there funds are been confiscated.

[un_rank]

Casinos I have seen that comes without a license usually gets a lot of backlash and apathy from players, this is a big reason for casinos to have one. We can debate on the usefulness, but most players will prefer a casino that goes out of their way to get a proper license and give off the impression that they would want to be compliant to some sort of regulations.

The licensing industry may experience big changes in the years to come. There is lots of room for a top player to come in and change the template.

- Jay -

[Davidvictorson]

Casinos are judged by the type of license that they have. And they can even be sued by disgruntled customers if they operate even for a day without their license. A license means they are following the rules and they are guided by some sets of laws and principles guiding the business. However there are other types of license aside the Curacao license but the thing is I don't know if one is higher than the other or more recognized than the other.

[Stalker22]

Makes sense that getting an official license inspires more confidence and trust.  Sure, we could debate whether the bureaucracy matters much, but for most gamblers, seeing that stamp of approval suggests the place aims to follow industry rules and isnt just some fly-by-night scam. 

Me personally I would rather play it safe and stick to certified sites, even if their regulations seem like useless red tape.  It aint worth the risk messing around with unlicensed ones when there is plenty of trustworthy, transparent operators out there.  but I get why some folks dont care either way.

[Crypto Library]

My basic idea is that a license basically gains a casino's reputation and trust, and here I would like to talk about some things like the shaddyness of the license companies.

Now lets come to my basic idea, From the basic idea, I have seen that to get a casino license from a good license provider, you have to spend millions of dollars and if someone scams, their license will definitely be canceled. I think there will be very rare scammers who spend millions of dollars on a license and go on a scam and face the cancellation of their license. And from this perspective, when we choose a casino, we need to check which platform they have obtained their license from to verify their reputation.

[Fortify]

Curacao used to be the main gambling license online casinos used to operate under. Their licensing structure was very shady. They had licensed 4 main title holders long ago and in turn these were issuing sub-licensed to anyone for very cheap.

Fast forward to more recent years, Curacao tries to overhaul their entire licensing process. Now entities who want a Curacao license must open a corporation there and apply for a much more expensive license that will be issued directly under the local state authorities.

Sounds much better than before as the path to seek liability would be much more direct. But there are several practical issues here. For instance, although Curacao's new licensing scheme is in full effect now, there's still no alternative resolution path that casinos under this licensing scheme have to follow. If anyone wants to go after them to find justice, the only way is local courts.

However, it has become apparent that even with these changes, online casinos will simply chainge their credentials and license, to start operating under a Comoros license to avoid judgments against them.

So what's even the point of a license anymore? Soon there won't be any more obscure island nations left to issue title licenses that mean nothing further than their name. So what's going to be the next stem of casinos? Invent their own licensing authority in an obscure island? Who knows.
But the point is, why are casinos even bothering to pay for the issuance of these licenses when we all know they mean nothing? Might as well just go without a license. Why not?

Those are some very interesting case examples that you share and it's maybe surprising to hear the history of gambling company that is a current sponsor of a premier league club. However I am not sure that anything has really changed in what these overseas licenses offer, which is a place that can give some legitimacy to the shell companies that oversee them. If anything, this recent action by the authorities in Curacao is a credit to them, but they cannot actually enforce any kind of judgement besides writing off the company in their list of registered businesses - all the money in these casinos will be squirreled away in overseas banks and protected from any kind of claims established by this regulator, but this has always been the case.

[acroman08]

But the point is, why are casinos even bothering to pay for the issuance of these licenses when we all know they mean nothing? Might as well just go without a license. Why not?

Because if a casino wants to operate legally in the country where they are based, they would need to acquire a license, otherwise, they could be considered an illegal casino, which could be shut down by their government.

[mcdouglasx]

The main issue is that, for casinos, a license remains more about appearance than substance. It serves as a way to reassure less-informed players, although those familiar with the topic understand that it often doesn’t provide real guarantees. However, without a license, the casino might appear even more suspicious, which could drive away part of its clientele. Reforming the system seems ideal, but it would require a massive international collaboration effort that doesn't seem likely. For now, licenses appear to remain part of this symbolic game, while users should look for other trust indicators like some mentioned here.
.

[Jating]

As a gambler, we at least want to play on a casino that have license, so ensure that we are somewhat playing on a legitimate casinos. Although I will agree that there could be issues Curacao licenses to some casinos but they are going to scam it's players.

I think the argument is that do we have player protection?

But if we have to choose lesser of the two evil, players will go on casinos that have Curacao license, but for sure we all know the risk.

[peter0425]

Casinos I have seen that comes without a license usually gets a lot of backlash and apathy from players, this is a big reason for casinos to have one.

Casinos with no license usually poses some uncertainty which makes players worried and not trust them anymore. But there are casinos that have features that wouldn’t be really legal under the government but the players still like so even unlicensed they might still have some customers.

We can debate on the usefulness, but most players will prefer a casino that goes out of their way to get a proper license and give off the impression that they would want to be compliant to some sort of regulations.

A license reduces the chances of the casino committing any kind of fraudulent activity. Because if they did, they can easily be tracked by the government if they were registered. This eases the worries of most people.

[AVE5]

Casinos I have seen that comes without a license usually gets a lot of backlash and apathy from players, this is a big reason for casinos to have one. We can debate on the usefulness, but most players will prefer a casino that goes out of their way to get a proper license and give off the impression that they would want to be compliant to some sort of regulations.

Reputation is what matters most when players considers on what casino company they should play on.
In some cases we tried to believe that by visiting the reviews of the site users based on Remarks, going throwing the comments would help which has become a comment flows of fake users in the comment session.
We think it's when the casino hasn't cheated us for a while but on the run reverse be the case.
A lot of us has always wanted to gamble in a casino with psychological manners to help moderates it users to maintain responsible gambling but because the casinos hasn't been concerned about that, it was never been an agenda.

A lot of forces and accusations has gone around the reginal horizons and due to sake of games meant to be played for fun, they should begin scrutinize the casinos and governments began take decision of regulations which marks the casino companies "legal and excellently verified".
That I guess should be where license comes in to the casino and players who has also wanted to play in a clean shit casinos especially don't mind about Kyc would surely go for the licence casinos because either it's true or not, the players mentality is that the government issuing licenses to the casinos got their back in case of dispute between the casinos and the players.
In a piece of note, licence gives an upgrade and reputable profiles to the licensed casinos.

[JiiBs]

I can share a couple of very characteristic examples that involve casinos we're all familiar with:
1. https://igamingbusiness.com/legal-compliance/bc-game-curacao-bankruptcy/
2. https://bitcointalk.org/index.php?topic=5534261.0


So what's even the point of a license anymore? Soon there won't be any more obscure island nations left to issue title licenses that mean nothing further than their name. So what's going to be the next stem of casinos? Invent their own licensing authority in an obscure island? Who knows.
But the point is, why are casinos even bothering to pay for the issuance of these licenses when we all know they mean nothing? Might as well just go without a license. Why not?

Going through the examples as provided in the OP, it’s obvious there were some issues with the casinos operation at the time. Given that, it was bought over by a new owner and there were winnings belonging to customers that had to be settled. Lawal’s could be twisted in certain ways else, the casino policy on paid wins should have been what they are judged by. The window of opportunity (transfer of ownership rights and responsibility to pay) was exploited here but, you can’t leave a customer/gambler hanging on their wins.

Licensing though might have its loopholes is important as it could be really binding in some cases and it serves as a deterrent towards outright wrong in the gambling system from the side of the casinos.

[Hispo]

I believe there are some countries in which casinos, specially those with a huge volume are required to be locally registered and licensed and not to only rely on a license issued in Curaçao or other small nations which want to take advantage of the market of gambling licensing.
I believe the United Kingdom is one of those exceptions, in which casinos need to be registered locally.

Still, it is certainly worrying how it seems having a license is not a warranty of legitimacy of a casino or bookie anymore and some authorities are not willing to keep a system of check and balances in order to truly punish scam casinos and rewards those that are legitimate and comply with laws.

Perhaps in the future, decentralized casinos run on smart contracts could be some actual competition if the public starts to seriously lose trust on even licensed casinos

[Stepstowealth]

why are casinos even bothering to pay for the issuance of these licenses when we all know they mean nothing? Might as well just go without a license. Why not?

Licensing gives these casinos a level of credibility because there are many people just like me who would not play in a casino that obviously lacks no licensing. Playing in a casino that has no license means that the gambler has given the opportunity for scammers to take advantage of him on the platform and he is not in any position to complain about it because first he is not of the gambling age. If anyone becomes a victim of playing in the casino that does not have a license you have no one to blame but yourself because you did not check to confirm.

[danherbias07]

Just to say they are licensed. The same goes with the slot providers. They think they are better than other slot providers if they are licensed. Also, people tend to trust an online casino that is registered in some country because they think it's part of becoming a reputable platform and they won't scam anyone because they are licensed. I think in the future regulation will be more strict in different countries as they find out how much money is being spent with this licensing program.

[btc_angela]

Just to say they are licensed. The same goes with the slot providers. They think they are better than other slot providers if they are licensed. Also, people tend to trust an online casino that is registered in some country because they think it's part of becoming a reputable platform and they won't scam anyone because they are licensed. I think in the future regulation will be more strict in different countries as they find out how much money is being spent with this licensing program.

Yes, probably it's like a assurance to gamblers that this is not a fly by night casinos, it has licensed and so chances of scamming us are little. And Curacao has established itself as the dominant gambling licensure in the world.

So that alone, seeing at the page of casino that they have acquired it already, looks legit to our eyes. But for sure, as the OP put in the argument, there could be a lot of areas that we can go on and debate as whether they are indeed needed by casinos to run their business.

[Wexnident]

~

It's a bare minimum for people to trust the casino. BARE minimum, at least in my consideration. And it just entails that they did the effort to get one. They're method of how people get withdrawals, issues with them like this and stuff are usually info I get from users themselves instead.

And tbf, a lot of casual players usually don't really need THAT much info anyway. Seeing a casino advertising itself as "licensed" is usually enough for them, hence why it still matters. It's basically how it's not a problem for you, till it's you that's affected kind of thing anyway for stuff like this.

[Ishicryptic]

Casinos I have seen that comes without a license usually gets a lot of backlash and apathy from players, this is a big reason for casinos to have one. We can debate on the usefulness, but most players will prefer a casino that goes out of their way to get a proper license and give off the impression that they would want to be compliant to some sort of regulations.

The licensing industry may experience big changes in the years to come. There is lots of room for a top player to come in and change the template.

- Jay -

Licenced casinos are still preferred to unlicensed casinos, atleast with them gamblers can have a case if they are not satisfied with their choice casino, they can report to the authority and try to get justice. Court cases are most times not what can be resolved immediately, so it is not like it's only in gambling matters that issues drags for a long time. Ofcourse there should be room for improvement in the future so that gamblers can have full confidence in licenced casinos and be assured that casinos will not take advantage of them or go against their TOS. I still consider licenced casinos as better option for gamblers despite the shortcomings of some of them.

[KiaKia]

That's Curacao problem, you don't have to say that what's the point of licenses any more, casinos are judged based on their license, it is a must to have, but it is not the same with many countries as some are simple and straight while others are strict or even very hard.

Still, a license is a mist for any online or offline casino, without a license you are running a illegal casino, whatever you might face or whatever people are facing while trying to get license must not scare you, it is a must..

You don't want to face the problems of running a casino illegally, no matter how hard it is to secure a license it is better to get it.