The downside of the growth of internet gambling
Recent events with COVID-19 pandemic restrictions have influenced the casino industry too. Even in Australia, where land based casinos play an important role in the economy of the country, people prefer gambling online. In fact, the majority of the institutions for playing were closed during the lockdown, which had made enthusiast players find other ways to gamble. It might seem like a good tendency that does not harm any side at all. Despite all license gamling websites like CasinoChan Australia, that operate on the territory of the particular country have to pay taxes, they still remain popular with australian players.
However, the rapid growth of the industry has made it appealing for those who try to earn some money in the wrong way.
It is estimated that the combined revenue of the online casino websites in the Asia-Pacific region exceed 65 billion dollars. When the problem with unlicensed platforms appeared, the government found out that there are at least 10 unlicensed websites that sell their services to Australians. As we all know, it is illegal to provide gambling services without special documents. The operators that go against the rules risk to be fined as much as 1 million dollars every day. Currently the issue remains unsolved and these casinos continue to market their services without proper legal base.
The importance of license for the players
It is quite unprofitable for the platform to operate without an income so it is logical to suppose that even unlicensed websites have clients. In fact, trusting your money and sensitive information to the platform that provides illegal services is reckless. You want to make sure you understand the purpose of the licenses for the casinos in the first place.
To obtain a license for providing gambling services a casino has to apply to a special committee and meet the number of requirements. Moreover, this document is not permanent and the platform has to get a new one regularly, which means that it has to keep up with the standards. As a gambler, you can have more confidence in the quality and fairness of the services that the website offers. You can also be sure that the company pays taxes to the government and improves the economy of the country.
Some of the common requirements for the license:
- Regular payments for the documentation;
- Quality of the services that meets the industry standards;
- Proper website and policies;
- Presence of the real office in the country.
The rapid development of the online casino industry has led to the emergence of the unlicensed platforms that provide services illegally. Their activity is not only harmful for the economy of the country but also deceives players. You want to make sure that the casino of your choice has all the required documents.