Online Casino & Gambling JurisdictionsBy: CasinoAdvisor.com, Thursday November 6th 2008
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There are certain countries or regions in the world that allow online gambling in a regulated manner. The governments of the countries or regions have constituted regulatory bodies that govern the licensing and operations of all online gambling establishments falling within their jurisdiction.
Whenever an establishment wants to create online gambling facilities it has to apply for a license from the regulatory body in whose jurisdiction it falls. The reputable gaming jurisdictions carry out comprehensive checks before granting the license whereas there are others that grant licenses without adequate probity checks.
"Online players must know which the reputable gaming commissions are and should play only at those online casinos that have been licensed by them. By playing at online casinos from disreputable gaming jurisdictions they stand the risk of being cheated by the online casino either because of unfair games or simply because the casino refuses to pay out their winnings."
The reputable gaming jurisdictions check three broad areas of the applicant online casino. These are the background of the promoters, the fairness of the games and the intent and mechanism for paying the winners. In order to investigate the background of the promoters the applicant is required to provide comprehensive information on present and past activities of the promoting organizations or persons, including financial statements and references. Normally expert professional agencies are entrusted with the work of verifying the information and providing a recommendation. The fairness of the games involves subjecting the random number generator to risk analysis before licensing and also ensuring that the house edges or payout ratios have been correctly reported. The issue of the license is usually subject to the online casino arranging for a monthly independent audit. In order to ensure that the winners are paid the financial strength of the applicant is examined and it is also ensured that the payout system is automatic and transparent. Further the gaming jurisdiction ensures that the players can report complaints directly to them.
Some of the reputable gaming jurisdictions are Antigua & Barbuda, Kahnawake, Curacao and Malta. In the jurisdiction of Antigua & Barbuda the regulatory body is the Division of Gaming, which has been formed under the Financial Services Regulatory Commission. Formed in 1994 it was one of the first online gaming jurisdictions. There are about 50 online gambling establishments in this jurisdiction. The Kahnawake Gaming Commission was established in 1996. It regulates online gaming activities conducted from the Mohawk Territory of Kahnawake in Canada. It is one of the largest gaming jurisdictions with over 110 online establishments licensed by it. The Curacao Internet Gaming Association is the regulatory body of the Netherlands Antilles. It was instituted in 2001 and controls about 30 online gaming establishments. The Lotteries and Gaming Authority is the body that governs the Malta jurisdiction. It was formed in 2001 after the enactment of the Lotteries and Other Games Act. It covers controls all gaming activities except land-based casinos. There are less than 20 online sites under its control.
As an additional note and something worth mentioning as well is that in general licensing jurisdictions such as Malta, Alderney, Gibraltar and the likes of other European Union type jurisdictions are typically more trust worth then those that are in the Caribbean. The reason is simple licensing jurisdictions such as Malta fall under the scrutiny of the E.U. and thus have to adhere to far more formalized protocol to ensure that they're able to maintain their status as a trusted European licensing jurisdiction. Just something to keep in mind. It doesn't mean whatsoever thought that other licensing jurisdictions are any less reputable it's just that you'd be better to put more trust in the ones that are European based.
Links to popular online gaming jurisdiction official websites:
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