Online Casino Licences in Gambling and Sports Betting
Online licenses for casinos are vital to regulate and offer a haven for online gambling. The IGaming industry experienced an explosion in demand and popularity. It is estimated that the global gambling market exceeds 270 billion US$. COVID-19 in 2019 put a dent into this figure, but recovery was speedy, and the market grew exponentially.
White, Grey and Black Markets - Its decision time for players
When discussing white, grey, and black markets, we refer to certain licenses or, in some cases, no license. Some more Information can be read here.
White i-Gaming markets – Regulated Markets for i-Gaming
White-market casinos are considered more safe and operate in countries where online gambling has been allowed. Most of Europe has regulations in place to control and regulate casinos. Jurisdictions imposed heavy rules and introduced responsible gambling. Regulators forced online casinos to lay bare their earnings, their responsible gaming proactive steps. Some jurisdictions went as far as to separate Sports betting and online casinos. Separating Welcome bonus, Free Bets, Free spins, and minimum bets one can place.
This comes as a high cost for operators and operators using MGA licenses, Isle of Man, Kahnawake, and UK Licence.
Grey i-Gaming markets – Close but not that close
The difference between the white and grey markets is pretty easy to discern. Grey markets allow online casino and land-based operations but with fewer regulations and restrictions. Casinos can operate with international licenses, such as Curacao licenses. Operators can opt to run more than one online casino under such a license, which is less likely to be regulated by its local lawmakers. There have been positive improvements within the grey markets, and more grey market casinos are adjusting to responsible gaming voluntarily. Nevertheless, grey markets still have the upper hand regarding volatility and providing a fully transparent view of its operation.
Black i-Gaming markets – Things you should consider
Black markets are considered markets where gambling or online gambling is forbidden. This might be because of beliefs, cultural, ethical, or political reasons. Casinos operating in those markets are usually shut down swiftly and can face criminal charges when entering those countries. Muslim-orientated states, some African states, and Asia are prime black markets. Responsible Gaming is nonexistent; banking, depositing, and withdrawals have become increasingly volatile. It is not recommended to use casinos without a license.
Obstacles and challenges
Being without a license is pretty much playing Russian Roulette. The law is on your toes, and the operator faces closure and criminal fines. Prosecution and imprisonment are some of the perks to be expected. Customers face stiff resistance and the possibility of closing their accounts without being able to question the matter.
It is better to think long-term and proceed with a casino license to provide good service and branded products. With grey markets and white gaming markets, advertising is possible or restricted to parts only. Players nowadays are focusing on licences before signing up.