By Contributing Author
The online gambling industry is a thriving sector, and there are now thousands of sites offering players a place to stake money on games like roulette, blackjack, and slots. But because the market, which is worth $47.11 billion in 2017 is booming, it also means that sites and players are vulnerable to cybercriminals and scam artists. For this reason, the whole industry across the UK, the USA and Australia is now regulated by accredited gambling authorities, and other countries worldwide are beginning to follow suit. For those thinking about starting a business in the flourishing gambling industry, or simply wishing to play games online, it’s important to know how the regulating bodies operate.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.
Regulation is making the gambling world a safer place and allowing companies to grow and attract customers who know they are playing at a safe place. When paying for anything online, customers are often hesitant about handing over their credit card details because they have heard of cases of fraud and know how easily people can steal such information. Experts have predicted that credit card theft and scams will be a growing problem in the future. This is highlighted by the fact that in 2014 there were 1560 data breaches worldwide, which was a 46 percent increase on the previous year. 11 percent of these breaches occurred in the retail sector, and of the overall data breaches, 55 percent were caused by malicious outsiders. Some of these breaches are due to negligence on behalf of the customers, and now there are numerous sites advising people on how to protect themselves online. One of the key things that most of them say is to stick to reputable sites.
But how can you be sure that a site can be trusted? Well, a lot of industries are now using regulating bodies to make sure that customers and businesses are safe. The online casino sector is one such industry, and players should be warned that if a site isn’t properly regulated, it should be avoided. To check if a site is regulated, you need to search for accreditation from bodies like the Malta Gaming Authority. Luckily, there are numerous sites that help connect players with the best sites around where there is absolutely no risk involved when it comes to providing banking information.
Every site on their list has been tested for security, and uses advanced encryption to keep users’ data private and secure. The team there has also vetted all the casinos to make sure they pay out to customers when they win.
For customers looking for somewhere to play at, using sites that list reputable places is a good way to make sure you are playing somewhere safe. And for people who want to start a business in the booming sector, once you have been accredited by the official regulating authorities it’s a wise idea to get in touch with a trusted recommendation site to list your casino.
Photo Source: Malta Gaming Authority via Facebook
