Lack of Gaming Regulation Gives Wings to Shady Operators

Online gambling is a huge industry. According to the information gathered by statista.com, the income from the online gambling worldwide amounted to around €32 billion in 2014. When looking into the numbers, it is easy to understand why there would be many interested parties to grab their piece of this very lucrative pie.

Battle for the market share and the maximum profit can be a hard one in an environment where many businesses are willing to lax their operating standards (to say the least) in favor of attracting more gamblers and generating bigger revenues. In this atmosphere, it is paramount for the potential customers to know what they are getting into.

There are numerous online sites that gather information about online gambling venues and post it publicly for everyone to see. If you follow the advice found there, you can save yourself a lot of potential headache produced by dealing with shady or outright scummy casino operators who are in it for the quick grab.

The reason why the end users need to be extra careful resides in the lack of regulation in many jurisdictions. This leaves a lot of space for those inclined to do so to set up shady business operating under very questionable business routines.

The worst kind in the group of ‘rogue’ casinos is probably the kind that will let you deposit and play, but when it comes to paying out the money, the problems start. Endless ‘verification’ processes, accusations of cheating, exploiting their games and the list goes on and on. On occasion, there are even those operators who just go full-criminal, stealing credit card information from their customers, selling their email address to the third parties and similar.

One would think that any business that cares anything about their reputation would not allow for these things to happen; yet it is amazing for how long some of these operators are able to stay on the market and fool more unsuspecting customers. This is exactly why it is important for anyone looking to gamble online to keep an eye on the various blacklists compiled by the vigilant users.

For some people, even worse than the fact they were cheated out of their money is that there is often next to nothing they can do about it. Operating in legal ‘grey areas’, these casinos use the lack of proper regulation to their advantage; what they do may not be legal, but very often it is not explicitly illegal either.

In the recent year or two, there’s been a significant effort by numerous countries to rectify the situation and some progress has been made. It is in the best interest of both users and the honest operators to work in an atmosphere where everything is clear and by the law.

Lack of legislation gives wings to shady operators that, in turn, hurt the industry as a whole. However, no matter how good the laws are, there will always be those trying to bend the rules. It is thus important for customers to stay mindful and do their research before giving away money and personal information to a company they have no previous experiences with.