What's even the point of licenses anymore?

[The Founding Titan]

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 -

When you gamble with an unlicenced casino and you get cheated out of your deposit or maybe good winning that you go then you have no one else to blame for that bad luck but yourself, personally I stick to licenced casinos to gamble with, I don't want any problems, life's already stressful enough as it is and I wouldn't want to add to my own stress on life, what I would say is debatable is whether the have a KYC or not but when it comes to their licence I treat anything unlicenced as illegal.

[Cantsay]

Is Curacao responsible for all the licensing of casinos in the world? The answer is no, so why not avoid all the casinos that are not related to Curacao licensing? Why not use online casinos from America or somewhere else?

See gambling is not a do or die affair for me, and it's why I don't bother myself with all this license and KYC problems because I don't care, I risk too small money to be this burdened on myself.

Reputation is more than enough, this forum is more than enough, to look for a reliable online casinos this forum can find the answer, I don't have to go too deep like this, even Stake alone can satisfy my urge in gambling.

I think we’re in the same boat. In all my years of gambling, I have never really been asked to submit any form of document for verification, I have been able to carefully select them and even the ones that occasionally request kyc documents from their users, I still haven’t been asked to drop anything.

I think it most likely due to my bankrolls also my individual bets I have been playing.

[lombok]

Is Curacao responsible for all the licensing of casinos in the world? The answer is no, so why not avoid all the casinos that are not related to Curacao licensing? Why not use online casinos from America or somewhere else?

See gambling is not a do or die affair for me, and it's why I don't bother myself with all this license and KYC problems because I don't care, I risk too small money to be this burdened on myself.

Reputation is more than enough, this forum is more than enough, to look for a reliable online casinos this forum can find the answer, I don't have to go too deep like this, even Stake alone can satisfy my urge in gambling.

I think we’re in the same boat. In all my years of gambling, I have never really been asked to submit any form of document for verification, I have been able to carefully select them and even the ones that occasionally request kyc documents from their users, I still haven’t been asked to drop anything.

I think it most likely due to my bankrolls also my individual bets I have been playing.

The absence of verification of identities on betting sites is usually dictated by the high volume of transactions per day. The site managers are more inclined to adhere to the idea of verification with big withdrawals in order to meet the requirements of money laundering prevention statutes. Low betting limits are relatively low, defending the profile of their account against friendly robots, and giving time to financial activities to go on without administrative paperwork.

[ejikeme24]

When you gamble with an unlicenced casino and you get cheated out of your deposit or maybe good winning that you go then you have no one else to blame for that bad luck but yourself, personally I stick to licenced casinos to gamble with, I don't want any problems, life's already stressful enough as it is and I wouldn't want to add to my own stress on life, what I would say is debatable is whether the have a KYC or not but when it comes to their licence I treat anything unlicenced as illegal.

License is like taking permission from the authority to use, own, or do something. So failure to have a license means that you're doing something in an illegal way, because you didn't take permission from the authority, so it is very important as a casino to have a license because without that they may likely not have enough customers in Thier platform, and it is only those gamblers that doesn't know the importance of license that would want to join but as for those that understand the importance they will just Skip them and go for the ones that is approved by the authority.

[jeremypwr]

Having a license is very import for online crypto casinos
I would never deposit any money if the casino didn't have one

[gracreavix]

With your whole write up and all. There's one thing I think you missed. The license here is not really the issue. A licence is just a piece of paper of agreement. That's all. But what is the problem here are those enforcing those laws as regards the license. They don't seem to do or even know their jobs.

The license might be good. But rhe enforcers of such license must be up and doing. Or else just like the Op, people will stop believing in it. This is my own contribution.

[alastantiger]

Licensing gives people a sense of security and confidence that certain standards and requirements are being met, which is important for consumers. If something goes wrong, at least they have some level of protection when they see that a casino is officially licensed. That's why I think licensing is important. However, I would separate casino licensing from KYC requirements for users. The personal information collected through KYC could end up in the wrong hands in one way or another, and that could cause harm.

It is very difficult to be able to identify casinos that are licensed properly because every casino now claims to have a licence and most people do not even care to verify the licence before making use of the casino. Everyone can open a casino easily and as they have a good reputation and they will get players to make use of the casino. It is not wise to trust any random casino based on only because they display a licence, some licence are being bought or being forged that if you just look at it you will fall for their scam. We just have to trust the already reputable casinos and that is when you will be safe instead of trusting the newly launched casinos that have no reputation.

[Sanitough]

Having a license is very import for online crypto casinos
I would never deposit any money if the casino didn't have one

Having a license is only the most basic requirement. The real question is whether the licensing authority actually does its job.

The main concern should be gambler protection. A good regulator should make sure casinos cannot easily scam players or use unfair terms in their TOS. They should also investigate complaints and take action when a casino violates the rules.

Of course, comparing licenses can be difficult because every country has different laws and standards. But at least we should know where the casino is licensed and whether that regulator has a good record of protecting players. Personally, I would rather choose a casino licensed by a stricter authority that actually enforces its rules, not just one that gives out licenses and does nothing afterward.

[jeremypwr]

Having a license is very import for online crypto casinos
I would never deposit any money if the casino didn't have one

Having a license is only the most basic requirement. The real question is whether the licensing authority actually does its job.

The main concern should be gambler protection. A good regulator should make sure casinos cannot easily scam players or use unfair terms in their TOS. They should also investigate complaints and take action when a casino violates the rules.

Of course, comparing licenses can be difficult because every country has different laws and standards. But at least we should know where the casino is licensed and whether that regulator has a good record of protecting players. Personally, I would rather choose a casino licensed by a stricter authority that actually enforces its rules, not just one that gives out licenses and does nothing afterward.

That's a really good point you just made
Thanks so much for including me in your quote so I wouldn't miss it

[Bitcoin Smith]

It is the users who think that when a casino have license, it won't scam the users or the games are properly audited and there is no possibility of rig. I don't know about others but I would trust a casino with no license but have no history of unresolved scam accusations against them and they are actually trying to address any issue reported by the users instead of hiding them under the rug with many possible ways.

Like one casino just bribed a mod on bitcointalk to keep their name a bit clean.

And what should the user think? Licensed means having official permission, a legal permit to run casino business. When they are licensed, people automatically think that they are trustworthy because we all know that licenses aren't given away like a free certificate, you have to deserve them too but sadly, this doesn't apply to online gambling.
Honestly, a Curaçao license is more valuable to the operator than to the player because it doesn't have strong consumer protection and instead is an inexpensive authorization mechanism, it simply gives the business legitimacy and to players, a possible complaint, maybe.

Kind of a placebo effect, which runs through the online users to trust a platform with their money when they see hundreds of them. But someone who already end up in a place like bitcointalk can know which one they can trust and which one they should avoid makes the license having no significance on choosing them.

[PERtua]

Licensing gives people a sense of security and confidence that certain standards and requirements are being met, which is important for consumers. If something goes wrong, at least they have some level of protection when they see that a casino is officially licensed. That's why I think licensing is important. However, I would separate casino licensing from KYC requirements for users. The personal information collected through KYC could end up in the wrong hands in one way or another, and that could cause harm.

It is very difficult to be able to identify casinos that are licensed properly because every casino now claims to have a licence and most people do not even care to verify the licence before making use of the casino. Everyone can open a casino easily and as they have a good reputation and they will get players to make use of the casino. It is not wise to trust any random casino based on only because they display a licence, some licence are being bought or being forged that if you just look at it you will fall for their scam. We just have to trust the already reputable casinos and that is when you will be safe instead of trusting the newly launched casinos that have no reputation.

A license is just one of the factors in the trust equation it indicates that the casino is subject to some form of regulation. But it is not necessarily a sign of honesty or fairness towards players. Many users do not check license information; some unscrupulous operators even falsely or deceptively show license information. That's why reputation, long history of player payouts, terms that are clear and transparent, and community input are much more important than a license. If you're considering trying the new casinos, it is always safer to be cautious till they achieve credibility over time.

[Haunebu]

Such a dumb take. While it is true that possessing an Anjouan or Curacao or some other license doesn't automatically guarantee that a crypto gambling site is 100% legit, it still proves that they aren't one of those cheap scam sites that spend very little to earn big.

Example? Betmoco! These filthy scammers faked a Anjouan license which actually worked since some gamblers invested money there before it was too late. A casino with a license(Any) is almost always better than a casino without a license period.

[TedMosby]

Even if it's fully licensed, I don't think the country where the casino is licensed would take any significant action against the casino. It feels like it's mostly about the money, taxes, and not really about providing effective consumer protection.

Pardon my raw hypothesis from my potato brain, but I somehow think a license is probably one of the minimum requirements for a casino to operate professionally, such as using services from game providers, getting funding from venture capital, working with payment processors, banks, and other regulated businesses that are unlikely to work with an unlicensed business because they have compliance requirements.

[blockman]

Two licenses that we do consider here in the Philippines. First is about the license of the provider(curacao, etc.) where they've been given that permit to operate. The second one is about being licensed and approved to operate in our lands. But this is where our local government is having problems with. Too many online casinos that popped everywhere where they're not licensed to operate although I think they're licensed by the provider. So, that's two things that if it's in my country but the government don't mind if there are others which are not given that license to operate by the government.

[lombok]

Two licenses that we do consider here in the Philippines. First is about the license of the provider(curacao, etc.) where they've been given that permit to operate. The second one is about being licensed and approved to operate in our lands. But this is where our local government is having problems with. Too many online casinos that popped everywhere where they're not licensed to operate although I think they're licensed by the provider. So, that's two things that if it's in my country but the government don't mind if there are others which are not given that license to operate by the government.

It is a huge loophole because the local authorities are careless and fail to tackle casino expansion without the official approval of the region. No substitute exists between the local legality or global provider permits. Such an indifferent attitude of the local government is evidently detrimental to the official taxation income and creates some grounds to further uncontrolled breaches of the law.

[AVE5]

Two licenses that we do consider here in the Philippines. First is about the license of the provider(curacao, etc.) where they've been given that permit to operate. The second one is about being licensed and approved to operate in our lands. But this is where our local government is having problems with. Too many online casinos that popped everywhere where they're not licensed to operate although I think they're licensed by the provider. So, that's two things that if it's in my country but the government don't mind if there are others which are not given that license to operate by the government.

Governments that hasn't realized their influence on regulations and policies can profer resources such as from the taxes and the commissions that returns revenues to the communities still don't take action is still facing under development because it's an opportunity that as they issues the license, they milk public revenue from it.
Gambling has also been lucrative business for investors especially now we've got competitive provider's because such is also how much the communities had fallen for it.
Hence any site going contrarily to central regulations can be indicted or sanctioned.

[tread93]

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?

That does make it difficult to hold any individual entity accountable if they can just go and change their name for instance and get a new license. I think maybe the whole point is to look legit but perhaps Curacao hasa handshake or cash under the table arrangement with all of the casinos and they get paid off to make it easier to not have to be held accountable? Sounds crazy but honestly its not too far fetched…

It's now Anjouan license, Tobique, Costa Rica of which most of these gambling sites now migrate to which is quite cheaper than Curacao. The essence of licences anyways from my perspective is just to enforce bureaucracy and deter scammers and money laundering too from taking hold of victims funds or using such for neferous acts. These licenses only have much power in local courts and that's why I agree, why the need for licences at all?

Costa Rica you say? I didnt know that and I find that interesting. My family goes there to sure not to gamble. But it does make sense to still have them to deter moneu laundering and taking hold of victims money. If there is some form of protection there and accountability that always helps to stop nefarious activities alone if they are fearful of getting caught in a regulated place, so to speak.