The importance of regulated markets
With casinos springing up across the world, choosing the right one — and the right market — is vital. Today, we take a closer look at the way regulated markets work, and the many benefits they offer
A truly global tool of information, the internet allows users to connect with almost limitless service providers around the world across a huge spectrum of industries, with online gambling being no exception.
For players interested in accessing services while at home or on-the-go, choosing the right vendor is extremely important, especially when one considers the dangers of gambling in unregulated markets.
An unregulated market, simply put, is one which doesn’t provide a state-prescribed regulatory framework for service providers to operate in. Without sufficient regulations in place, customers may fall prey to unscrupulous and unfair business practices, risking loss of money and unwanted use of personal data.
Whilst the notion of state control may seem to appear anti-commercial to some, the reality is that regulations enhance customer trust, improve standards and, in fact, generate more commercial activity in the long-term. The impacts of this when one considers the financial, food or medical industries, for example, are self-evident and well established.
The online gambling industry, while newer than the markets discussed above, is no different in this regard, with regulated markets now dominating the industry and attracting significant and sustained player interest.
The Malta Gaming Authority (MGA) offers a valuable insight into the benefits regulators can bring. Its establishment in 2001 led to an industry boom in the country, significant private sector investment and significantly enhanced player safeguards.
Due to the work of the MGA, players in various countries across the EU and elsewhere can enjoy tax-free profits, leading bonuses and, most importantly, high standards of safety in MGA-licensed casinos. In addition to granting gaming licenses — which are approved mainly on the basis of the casino’s approach to ensuring responsible gambling — Malta’s MGA consistently monitors licensed gaming, working closely with casinos to ensure a standardised (minimum) RTP rate, as well as prevent money laundering and other criminal activities. Crucially, players are also able to make formal complaints to the MGA in the event of a dispute.
As a result of regulators like the MGA, the online gaming industry is booming, supporting the creation of numerous other related entities including software development companies and industry journals such as Kasino Ranking, an online website providing up-to-date articles and other information about the gaming industry for Finns.
To learn more about casinos and the work of gaming industry regulators, click this link or search online for more information regarding your country of play.
Disclaimer | This article is brought to you by Podium North
Play responsibly. For help, visit www.rgf.org.mt. Players must be over 18 years
