Online Gambling Regulatory Bodies
Posted On April 19, 2021
The main purpose of online gambling regulatory bodies is to ensure a fair ecosystem of operation between the customers and online casino operators alike. To register with and receive licensing from these online gambling regulatory bodies, online casinos need to meet a strict criteria which ensures transparency and reliability of the casino.
That said, not all online gambling regulatory bodies are alike, some are stricter than others. In this article we will look at some of the more trusted Regulatory bodies and one less so, and discuss which you should most look for in an online casino before investing your money.
IAGR (International Association of Gaming Regulation)
The IARG is the closest thing we have to an international online gambling regulatory body, while unfortunately no true international standard exists, it is good to know that a particular regulatory body belongs to a higher association for fairness in the market. The IAGR is part of a four-part strategic alliance:
- GREF – Gaming Regulators European Forum
- GRAF – Gaming Regulators African Forum
- NAGRA – North American Gaming Regulators Association
- IARG – International Association of Gaming regulation
Seeing any other regulatory bodies being part of these associations should come as a great comfort as they have recently announced a collaboration with the international gaming standards association. This gives a further push to an international standard, while not there yet, this is a good start.
UKGC (United Kingdom gambling commission)
The UKGC has perhaps the highest international reputation as far as gambling commissions go. An online casino like https://onlineslotsnz.com/ which is licensed with the UKGC is generally trusted to have a high level of transparency and fairness in their dealings. Unfortunately, not a lot of online casinos are licensed with the UKGC as it can be a costly exercise, and they do not offer unified licences.
MGA (Malta Gaming Authority)
The Malta Gaming Authority is the general regulatory body used by the European union, making it a trusted regulator. While not as strict as the UKGC, MGA does still offer a good level of protection for clients and casinos alike. Falling into the same boat as UKGC, MGA does not offer unified licences making it more expensive for online casinos to register.
GBGA (Gibraltar Betting and gaming association)
The GBGA licences are likely the most frequent that will be seen in online casinos, Thanks to the lower taxation rates afforded to online casinos in Gibraltar. Don’t let the lower tax rate cause any doubt in the legitimacy of the GBGA. The GBGA is a very respected regulatory body that is renowned for its high calibre of jurisdiction and laws. An online casino licensed with the GBGA is likely worth trusting.
CGCB (Curacao Gaming Control Board)
The CGCB is the only regulatory body on our list to be cautious of. Being the easiest licence to attain and the cheapest taxation rate, this is the most frequent licence to be questioned and having a fair number of blacklisted casinos under their licences does not help the situation. While there are a lot of good online casinos which hold CGCB licences, when a casino holds only a CGCB licence it is worth checking a few reviews to verify the legitimacy of the casino in questions.
All in, online gambling regulatory bodies make all of our lives online a lot safer, it is worth paying attention to who has which licences for our own safety.