Online games, commonly referred to as iGaming, is a form of online gambling that involves the wagering of money on the results of various events or games like sports betting, online poker, virtual slots, etc.
Licensing bodies such as the Regional Council of Darmstadt supervise and control online gaming operators, with a fundamental goal: to protect players, mitigate criminal gambling activities, and prevent underage participation — essentially, gaming licenses make the market a safe and fair environment for all, and compliance with government protocols promotes trust among customers which in turn improves the business’ reputation.
In the ever-evolving online gaming space, a gambling license is granted to businesses that accept and honor a robust set of legislation and guidelines.
To maximize player protection, the compliance body focuses its efforts on responsible online gambling, transparency within the business, and eliminating money laundering.
The convenience of online casinos means the industry is thriving. Players and users with an internet connection, a smart device, or a functional PC or laptop have easy — and instant — access to virtual gaming and gambling platforms.
A gambling establishment must offer a means to self-assess their play to prevent gambling addiction.
Doing business with the utmost integrity and transparency improves the players’ trust in the gaming license and the gambling activities available.
How is this achieved? The regulatory body may decide to assess the online gambling business' software to ensure that it’s operating accordingly and to confirm if players are receiving their correct return on invested capital.
We touched on the illegalities faced in the online casino space.
Having a gaming license means that all iGaming establishments are required to follow and abide by the legislature monitored by the compliance authority to ensure all money and large deposits are coming from a legal source.
They do this by thoroughly inspecting players’ bank accounts to confirm the origins of their money.