ONLINE CASINO

  Independent AML audits. Independent auditors should audit AML compliance programs to measure their efficiency and avoid potential regulatory fines. Such audits help businesses detect their AML failures and correct them before regulatory inspections. This way, companies can be protected from high regulatory fines.

  Money lending prevention measures. In the UK, licensed casinos take appropriate measures to prevent organised money lending between customers on their premises. Similarly, if the money lending appears to be commercial in nature and/or related to ML activity, online casinos must be prepared to report the case to the Gambling Commission.

  The UK Gambling Commission has recently made client onboarding and verification stricter. Without successful verification, casinos cannot allow users to deposit money, or give them access to free play, free bets or bonuses.

  In most jurisdictions, online casinos are required to carry out Know Your Customer (KYC) procedures as part of local AML regulations. KYC requirements for casinos vary from jurisdiction to jurisdiction, but typically include the following:

  Gambling is only fun if it is done wisely; otherwise, it becomes dangerous. To ensure that gamblers and gamers are not at risk, regulators require that online casinos and betting shops meet responsible gambling requirements.

  This also applies to video games. In 2019, video game companies faced prosecution in the UK for child gambling, with products such as skins and loot boxes in Counter-Strike and Call of Duty. Skins are in-game items that can be won in-game, while loot boxes invite players to pay a certain amount to win a mystery prize. These items are not defined as gambling under UK law, due to the fact that in-game items cannot be exchanged for cash in-game. However, they can still be bought and traded for real money on other sites, and acquiring them may involve an element of chance, similar to placing a bet. The UK Gambling Commission has said it is prepared to regulate this when appropriate legislation is introduced.

  Under the UK Gambling Act 2005, it is illegal to allow anyone under the age of 18 to enter a licensed gambling establishment. However, a 2019 study by GambleAware and the University of Bristol found that 50% of 17-year-olds living in the UK regularly gamble. To protect themselves from underage gambling and the associated regulatory fines, online casinos must ensure that new players submit their official ID for verification in order to comply with the casino’s KYC requirements.

  The legal age for gambling varies from country to country; most set it at 18, while in Greece and most American states, it is 21. In Malta, the age is much higher, at 25 for locals. Portugal, meanwhile, has complicated laws, with age requirements varying by institution.

  An important aspect of responsible gambling is the ability to stop destructive behavior before it has a serious impact on the player. Therefore, online casinos must be aware of the warning signs. This means implementing three specific steps to detect gambling addiction.

  When admitting a player, an online casino must check whether their name appears on a self-exclusion list. If so, the casino must ban them from entering. Self-exclusion lists may belong to a specific casino or be part of a wider national self-exclusion scheme, such as GAMSTOP in the UK.

  Detecting signs of gambling addiction is an ongoing process that occurs throughout the customer lifecycle. Addictive behavior can manifest itself in a variety of ways, such as when a player chases losses, plays high stakes, or exhibits erratic gambling patterns. Once problematic behavior is detected, online casinos should restrict affected players from their services and, ideally, direct them to help.

  When checking the source of funds/wealth for AML compliance of a casino, the casino should analyze whether a player exhibits a pattern of behavior related to problem gambling. For example, a warning sign could be when someone spends €3k ($3.1k) per month, while earning only €2k ($2.1k).

  Activity warnings. Notify users if they have been playing for too long. What constitutes ‘too long’ is also determined by the player. Some countries, such as Sweden, require these warnings for all players.

  Deposit limits. Players set certain limits on their deposit amounts to stick to their budget and avoid overspending.

  Time limit. Users have the option to pause their accounts for a period of time that best suits them.

  National self-exclusion. Users enter their name on a national self-exclusion register to block themselves from accessing any gambling websites in their country. In the UK, for example, all online casinos are required to have a GAMSTOP membership.

  Permanent self-exclusion. Players can block themselves from online casinos permanently and irreversibly, requesting to stop any contact and no longer receive marketing promotions.

  There are many more initiatives that a country can take to protect its citizens. Denmark, for example, requires all online gamblers to take an online test that reveals whether they are addicted to gambling.

  During the COVID-19 pandemic, regulatory measures have been tightened around the world in an effort to better protect problem gamblers. For example, Sweden introduced a weekly deposit limit of SEK 5k ($493) and the UK issued toughened guidelines in response to data showing players were spending more time and money gambling.

SG Casino

  Online casinos should avoid targeting vulnerable groups, such as children, teenagers or selfless players. Similarly, gambling should not be normalized through sports sponsorships or any other media that can be associated with youth culture.

  These marketing restrictions could also affect the timing of casino ads. For example, new regulations for online gambling platforms in Germany prohibit ads between 6am and 9pm. The UK is also set to introduce advertising restrictions, given the finding that 96% of 11-24 year olds in the UK were exposed to gambling ads in February 2020, prompting them to place a bet immediately.

  In September 2020, the UK made it mandatory for students to be taught about the risks of online gambling in schools. The same is expected of online casinos, which must educate users about the dangers of gambling through videos, blog posts, webinars and other initiatives aimed at raising awareness of gambling addiction.

  Fraud has become a real threat to the gambling industry, with schemes such as bonus hunting, multi-accounting, account takeovers and illegal chargebacks on the rise.

  Online casinos already have to deal with criminals trying to steal unprotected data. Worse still, data can be leaked due to poor management and frequent staff turnover. That is why online casinos must implement proper controls aimed at protecting players from unnecessary risks.

  An Information Security Management System (ISMS) is a set of procedures for systematically managing a company's sensitive data. The purpose of an ISMS is to reduce risk and ensure business continuity by first limiting the impact of a security breach.

  In most online gaming jurisdictions, information security requirements are based on the ISO/IEC 27001:2013 standard, which sets out the requirements for establishing, implementing and improving an ISMS within an entity.

  ISO/IEC 27001:2013 is the core of an Information Security Management System, as its primary focus is on the integrity, availability and confidentiality of a company’s sensitive information. At the same time, it also covers information backup, access control, disaster recovery, incident management procedures, software lifecycle security and network security controls, and security in supplier relationships. An ISMS helps gambling and betting operators minimize security breaches and cyber attacks while reducing the costs associated with keeping information secure. If an online casino is ISO/IEC 27001 certified, jurisdictions such as Colombia, Denmark, the United Kingdom, the Czech Republic, Greece, Portugal, Romania, Spain, Sweden and Switzerland waive certain security audit requirements if the company decides to operate offshore.

  As a digital service provider, online casinos must adhere to certain data protection principles. Therefore, online casinos must ensure that players understand that their data will be processed and, if suspected of being illegal, potentially shared. To remain compliant, casinos must obtain explicit consent from players before onboarding them. The same goes for obtaining consent from players before sending them any marketing materials—something that is often overlooked by the gambling sector.

  Since online casinos process sensitive customer information, such as credit/debit card details, they must monitor for security breaches, analyze criminal attacks, and identify potential vulnerabilities. It is important to conduct penetration tests at least twice a year to identify weaknesses and blind spots. Keep in mind that, if there is a security breach, the online casino may be liable for any resulting losses, depending on applicable data protection regulations.

  Based on our observations, online casinos should not expect regulations to be relaxed anytime soon. Instead, more and more countries are looking to develop a more tightly regulated online casino industry, with the aim of protecting vulnerable users from gambling problems. So the best course of action is to stay on top of these changing regulatory demands and be prepared for whatever comes next.

  As gambling regulations tighten, some businesses are considering moving to more “tolerant” jurisdictions. Others are taking the opposite route, moving to more reputable territories to attract more customers. We’ve grouped together some of the most popular betting jurisdictions

  Gambling is a great form of adult entertainment. It provides laughter, relaxation and the thrill of winning. Sometimes, it also provides the agony of losing and addiction in the worst cases. Before you start gambling anywhere, especially over the Internet, there is one undeniable fact you should remember: the odds associated with online casinos, always favor the house. While the house edge may vary from game to game, the simple fact is that casinos stay in business by winning in the long run.

  Of course, that doesn’t mean you’re without “chance.” That’s why they’re called “games of chance.” There’s always a chance that you can defy the odds and come out on top in the end, in some cases, a big winner. For your sanity, we suggest you treat gambling as a mode of entertainment that you may have to spend a little money on, like going to the movies. In some cases, you’ll come out on top, making the time spent all the more enjoyable.

  If you want to enjoy this exciting game, you must learn to gamble responsibly. It’s about entertainment, not about getting rich. Discipline is the key. If you deposit a certain amount, which we’ll call your preferred gambling bankroll, you should be able to walk away when that amount is gone. The first rule of thumb in losing money is to never start “chasing” your losses. By developing safe gambling habits, you can maximize your enjoyment without fear of financial repercussions.

  You can now consider gambling as a mode of entertainment. There are many online “games of chance” that you can choose from. Common choices are video slot games, video poker, table games (roulette, keno, craps) and card games (baccarat, Pai Gow, blackjack and poker). Some sites even allow you to bet on live sports or horse/dog racing. The bottom line is that there are many games available and part of the fun comes in identifying which ones you enjoy the most.