A license for online casino operation in the United Kingdom includes a lot, and here we unpack all of the regulations you need to know.
In late 2014, a new tax structure for online gambling in the United Kingdom went into effect. This coincided with a new regulatory setup, which has actually led to the United Kingdom being the most respected place to be licensed for an online casino in the entire industry. While there were a lot of complaints at the time because of how the structural changes for the tax code gave problems to certain businesses, the bottom line is that there’s no better regulatory body in the world right now for online gambling as a whole.
The Security of a UK Online Casino License
Whenever an UK online casino is licensed by the United Kingdom Gambling Commission, there are a number of different things they have to deal with. First, they are audited on a regular basis to make sure that they are adhering to strict business and accounting practices. They are also required to be transparent about their payout rates and how much money they are taking in along these lines.
Second, and one of the things that’s extremely important compared to licenses from other jurisdictions, is that the casinos are required to keep all player funds separate from operating funds. That means that there can never be a situation where players cashing out will affect the operating funds of an online casino, and it means you’ll never have a scenario where you can’t cash out because they simply don’t have the money on hand to pay you. This protects players in a major way from shady operators who would simply not process cash outs and essentially steal a player’s money when he or she was entitled to a payout.
To be able to advertise for any type of online gambling in the United Kingdom, the company has to be licensed there. This protects players in two ways. First, it keeps any site that they aren’t personally regulating and supervising from getting a message across to players in their jurisdiction. Second, it allows them to check the claims of any casino that is regulated in their jurisdiction to make sure that they are fair, accurate and not misleading. The point is that the players are protected in two different significant ways.
The Characteristics of UK Online Casinos
Now that you have a basic understanding of what all goes into the oversight for a casino licensed in the United Kingdom, let’s take a look at the key characteristics of UK online casino sites. The first characteristic is that they are very reliable with cash outs. If a UK licensed site to avoid paying out to a player when they’re supposed to, the UK Gambling Commission will personally step in and force a resolution to the issue at risk of fines or even having their license pulled.
In fact, there have been a number of times when the UKGC has ruled in this way, and they have even went so far to pull the licenses and fine online casinos whenever they don’t handle cash outs like they are supposed to.
Aside from that, they also have to work with approved software only, which means software that has a license to be offered in the United Kingdom. All of the top software companies in the world have this license, and it means they adhere to some pretty strict standards. Software is audited regularly as well, and this includes both the games themselves and the random number generators used to power those games. This makes sure that the payouts are what they are supposed to be and that there is no “funny business” going on anywhere with any of it.
In short, the UK license makes sure that casinos licensed there always have safe and secure software and tremendous peace of mind when it comes to fast, reliable cash outs.
Something else that players should know about online casinos in the UK is that they are all subject to a very specific complaints process. There are a variety of things that you can formerly dispute like problems with customer service, account closures, identity verification, bonus terms and conditions, payment management, payout rates and whether or not the end result of a betting round was a win or a loss, among other things. You should start off by messaging the operator directly. However, if that doesn’t get your issue resolved in a way that you’re happy with, you have other options.
The main option is the use of an ADR, or alternative dispute resolution body. This doesn’t cost anything for the player, and paying for the use of an ADR is done through the licensing fees and taxes that online gambling companies pay as a part of being regulated in the UK. Each business has a specific ADR, and they are required to tell you theirs if you ask. This includes entities like eCOGRA as well as individuals like Jennifer Gallagher or Joel Goldman, who specialize in these cases.
The ADR will make a decision, which is binding. This means that, if an ADR rules against an online casino, they have to make things right by your complaint and possibly change the processes they use that led to the complaint in the first place. What’s more is that you don’t really have to do anything but file the complaint, and the ADR does the rest.
Online casinos in the United Kingdom have all kinds of things that make them great, and the climate as a whole comes from the super-strict guidelines and regulations that are a part of getting a license to operate there. This is why it’s considered the most reputable license in the entire industry by most industry experts, and they’ve essentially set the standard that all other jurisdictions have to adhere to if they want to be taken as seriously as the United Kingdom Gambling Commission.