By Our Reporter
As gambling takes on the world by storm, we have seen all manner of regulations arising within the industry. Regulators seem to be in a hurry to assert control as much as they can. Luckily, some of these regulations do more good for the gambling industry than we give it credit.
Whether you are a beginner or have been in the industry for a long time, you will find it beneficial to gamble at a legal real money baccarat casino than an illegal one. Doing so helps you feel secure throughout your gaming encounter and gives you the confidence that your money will not just get lost.
As far as these regulations are concerned, each country seems to have adopted some set of things that a genuine casino must meet. The gambling sites that meet these requirements often tend to offer the best gaming experiences. Keep reading to learn more about the common forms of legal gambling, their benefits, and how these regulations compare across different countries.
Countries with the Best-Regulated Gambling Industry Laws
As we make significant progress in the gambling world, different countries also develop varying regulations for the available legal games. Certain countries such as Australia do not come out clearly on their approach to gambling. Whereas you may openly play games like bingo in Australia, the country is reputable for other strict enforcements.
Canada is divided into ten provinces, all of which are self-governing. Significant changes to the existing powers to governors are granted by the federal government calls for a change in the country’s constitution. This is an important point to consider because, by extension, it implies each province has its laws regarding gambling. A common baseline is that the existing laws favor the industry and foster successful gambling throughout Canada.
Most conversations about gambling in Canada typically reference Ontario. That does not come as a surprise considering that it has the highest population in the country. It has over 25 land-based casinos and offers different games and gambling events that cut across slot machines, horse racing, sports betting, lottery, and charitable gambling. Lotteries, slot machines, and horse racing appear to be the standard games throughout Canadian provinces.
Currently, no Canadian province has developed regulations around fantasy betting. Similarly, skill games and competitions that are not subject to chance do not face any regulation.
Gambling is legally recognized in France and even has a legal age for the practice. Whereas there were higher age restrictions in the past, the country adjusted its laws by 1987, lowering the minimum age to gamble from 21 to 18. Slot machines also gained legal status in 1988, which marked a deviation from the previous ban.
The country has two main state-owned bodies with the mandate to regulate gambling – Française des Jeux (FDJ) and Pari Mutuel Urbain (PMU). PMU focuses on lotteries and betting games, while FDJ regulates horse racing. Française added online games to its list of regulated gambling games and tasked the Regulatory authority for online games (ARJEL) with this role.
The mature regulations for the gambling sector in France mainly come about due to a long history of gambling. In addition, many experts cite France as having fostered the creation of popular casino games.
Singapore is among the few countries that rank gambling as an important recreational activity and does not overemphasize the financial side of the practice. The country recognizes social gambling as an acceptable practice, and this does not violate any laws. That means you can comfortably play your favorite games with family members without worrying about any restrictive requirements.
Even as gambling is acceptable in social events like funerals, it is illegal to gamble in dens or publicly. The Common Gaming Houses Act bans all kinds den gambling. The Betting Act also prohibits underground betting, while the Private Lotteries Act bans jackpot machines unless the casino is legalized.
Online gambling is the only bit that may give you the most challenges regarding betting in Singapore. The Remote Gambling Act essentially prohibits online gambling. However, players in the country circumvent these restrictions using VPNs.
Monaco’s gambling landscape is unique compared to most countries. For a start, the country’s largest population comprises mostly foreign nationals, who account for 80% of the population.
From the regulatory point of view, existing laws do not allow Monaco citizens to gamble in their famous casinos. However, foreign nationals can do so without the restrictions. However, that does not stand out as a major issue owing to the large percentage of the foreign nationalities.
Historically speaking, Monaco may have had its first taste of gambling ban in the 1800s when the Prince of Monaco, Charles III, banned it due to the fiscal crisis. The prince studied the economics of surrounding countries and determined that allowing his citizens to gamble would not bring in money as he wanted. Instead, he came up with a gambling plan that targeted the English upper class. The plan was a success, and Monaco successfully settled its debts and even earned more to the extent they managed to abolish taxes.
The five major casinos in Monaco are self-regulated, while there are no formal regulations for online gambling. The country initially attempted to ban gambling on foreign casino websites to make the most of the Monaco market. However, the said plans did not go through, ensuring that residents can freely gamble online.
Benefits of Betting Legally
Legalizing gambling is generally a good thing both for the players and the industry at large. The following are some of the benefits that you can expect:
1. Sets in motion responsible and fair gambling
Most of the people who champion the criminalization of gambling do so out of ignorance. They think that all forms of gambling are bad and that punishing gamblers can deter them from the practice. The truth is that gamblers are clever and will always devise ways to circumvent any form of criminalization that authorities may establish.
That calls for a change in tactic. Instead of establishing so many barriers that motivate gamblers to devise their way around blockages, it would be best if they knew that they have the option of choosing to play either legally or illegally. Of course, legal gambling would have its numerous benefits, including the ability to enjoy a gambling session that’s created in a fair environment. Furthermore, through the legalization, the player would be motivated to adopt a responsible gaming approach.
When gambling is legalized, as is the case with France, professional bodies would manage the various casinos and game types that a player chooses. That gives you the peace of mind that authorities are in charge of any misconduct – both from the player and the casino. Consequently, it reduces scamming cases as well as the risk of losing money in unexplainable ways.
2. Can help deal with addiction
Professional gamblers understand the essence of working within a budget and know when to call it quits. However, not everyone has this ability and easily gets addicted if they do not play responsibly. That is where legal gambling can prove helpful.
The legal entities that are appointed to regulate gambling have roles that go beyond just regulation. They may also take on the mandate of providing resources that help deal with addiction. Since gambling would have been legalized and deemed acceptable, the player can easily seek help when they feel that they have overdone it.
Some of the resources that countries with legalized gambling provide include means for self-regulating and counseling services.
In addition, when playing real money slots at a regulated casino, the platform could include informative pieces that advise against irresponsible betting. Such casinos understand that it is illegal to encourage practice which only pushes you to lose more money. Instead, they are all about helping you enjoy your favorite games without feeling that you no longer have control over when to stop wagering.
3. An avenue for job creation
Through the legalization of gambling, the industry gains an authoritative status in which people can seek employment. The gaming sector is estimated to create as many as 1.8 million jobs worldwide, both online and physical casinos. Apart from this direct job creation, gambling also indirectly provides job opportunities.
At the moment, not so many countries consider this to be a form of employment. However, when legalized, it sets the path for some players to attain the professional tag and even make this their primary source of income. As such, they get to fend for their families and alleviate poverty.
4. Safe and secure playing
Modern online casinos require players to either game for free or for real money. In either case, you will need to create an account on the platform. During the account creation process, you get to provide details such as your full names, addresses, and government-issued identification. Additional details such as credit cards and other means of funding your account are required when gaming for real money.
These are important personal details that need to be handled properly. A casino that does not commit to keeping your information safe puts you at the risk of attack from hackers. In the long run, the losses would be much more than envisioned.
That is where the need for legalized gambling proves helpful. The appointed authorities take on the mantle of evaluating existing casinos to ascertain that they have strict measures that keep player’s information safe. Furthermore, the established laws guide how to handle sensitive data, including not sharing it with third parties.
5. Source of tax revenue
Any government will always find tax revenue to be helpful to its overall functioning. It forms the basis of increased economic development and provision of resources that were not possible before.
Legalizing gambling means that casinos get to adopt acceptable tax modules that help benefit the economy at large. For example, New Jersey recorded a massive increase in tax revenue in 2020 of about $50 million, all of which was attributed to legalized gambling. Pennsylvania equally benefited by generating $40 million from legal gaming within the same period.
This is revenue that would have never been collected had the mentioned states continued banning gambling. When both the states and private businesses like gambling companies win, it does not make sense why gambling should not be conducted legally.
Consequences of Betting Illegally
When authorities mark gambling as an illegal activity, it does not necessarily mean that players stop visiting their favorite casinos. Authorities need to appreciate that players will never lack tricks to access these games and casinos, whether or not they mark gambling as a legal activity. Technologies such as VPNs prove helpful here.
But doing so is illegal and proves detrimental. Various disadvantages arise from illegal gambling:
1. Increase in scamming incidences
One of the biggest setbacks associated with illegal betting is the exposure that a player has to scammers. As the global online casino game industry continues to thrive, the lack of legalization forces players to look for dubious ways to enjoy their favorite games. The problem with that is they end up playing on unregulated platforms that easily take advantage of them.
Scammers understand that players are eager to access different betting sites, despite restrictions from respective authorities. As such, they present you with platforms that appear a legit satisfaction to your gaming desire. However, most of these platforms disappear as soon as the player loads funds into the account.
2. Risks to an addiction problem
Many of the online players normally do so out of love for the game. However, as one plays over a specified period, they increase their chances of getting addicted to betting and find it hard to control themselves. That’s because gambling tends to make you hooked, and you would need self-discipline plus control to avoid addiction.
It is easy to avoid betting addiction on legal betting platforms. That’s mainly because these platforms are not just focused on making you spend more money or keep betting for the longest time. Instead, they understand that they need to abide by certain regulations, which involve informing you of the dangers of betting.
The same does not apply where betting is illegal. As mentioned above, illegalizing the practice translates to people finding other unregulated platforms to play. Unfortunately, these platforms are not interested in assisting players in any way. Rather, they share messages that motivate addiction and continued overspending on betting.
3. Lost revenue for the government
When betting is illegal, the government cannot impose taxes. Unfortunately, that denies it vital revenue that would have helped grow other sectors of the economy besides improving the overall status of gambling.
Countries such as Monaco value the revenue generated from gambling. Before legalizing betting for foreign nationals, Monaco struggled with massive debts. However, its fortunes changed when the country realized that betting could serve as a significant source of revenue. In the long run, Monaco has successfully cleared its debts and even managed to remove most taxes to lessen the economic burden on its citizens.
Best Options of Well-Regulated Games of Chance and Skills
The following are the best options that a player can consider when choosing legal gambling. Some of these games are games of chance, while others require skills to win:
1. Social gambling
Social gambling entails playing with the primary goal of having fun and socializing. It mainly involves playing against family members, friends, co-workers, or neighbors. To qualify as social gambling, the participants must play in a private setting, not a public or commercial one. Additionally, social gambling requires that the players be of legal age (typically 18 or 21, although it varies per country).
The conversation around social gambling typically becomes confusing to most people who belong to particular clubs. Generally, if you play with your friends from the club, it would still classify as social gambling, provided the club does not sponsor the game.
While engaging in social gambling, there are some tenets that you need to maintain a keen eye on. First, no one would profit by setting up, hosting, organizing, or running the game. Secondly, the organizer does not charge any entry fee, nor does the house take any cuts on bets. Additionally, everyone has a level playing field. That is, both the house and the player have equal chances of winning.
Bingo is a game of chance where the player attempts to match the numbers printed on a card with the host’s, also known as the caller. The player calls out “Bingo!” when their numbers match the caller’s, making them the winner after verification. The game host starts a new round after declaring a winner.
Bingo games are generally considered legal. The United States Department of Justice made sure of this in 2011 when it changed the implication of the Wire Act to gambling activities. Among the important changes introduced was awarding states total control on their approach to the legalization of bingo. As a result, most states have opted to allow their citizens to play the game within their borders legally.
You need to pay close attention when it comes to online bingo. Generally, online bingo remains legal for most countries. However, U.S. players may find it a bit challenging to access these games considering the legality involved and challenges with payment means.
The lottery is a game of chance that features low odds and in which winners are randomly selected. Besides just serving as a source of enjoyment and winning real money rewards, lotteries can also help make crucial decisions. For instance, you can draw lotteries to allocate scarce medical treatment and in sports team drafts.
Lotteries seem to have taken a major hit amongst players as a gambling option and encourages people to pay a small amount of money for a chance to win a major jackpot. Federal or state governments typically administer these games.
4. Horse race betting
Horse racing betting is one of the oldest forms of gambling and has existed since horses started racing. Placing these kinds of bets is often a straightforward process. It typically involves placing your wager, receiving a ticket, and tearing it up when it does not actualize.
Horse race betting is a game of skill and requires you to make a sound judgment to become victorious. You can place your bets from different perspectives. For instance, a winning bet means the horse must win. A place wager requires the horse to finish first or second, while a show bet requires the horse to get the first, second, or third.
How to Check the Casinos’ Fairness and Legality of the Operation?
There are some key things that you can consider as you get ready to play at a real money baccarat casino to determine its fairness and legality. These include:
1. Reasonable account creation requirements
When playing at a casino that involves staking money, you must first create an account with them. After account creation, you need to deposit funds for you to start enjoying your games. Next, the casino will typically need to verify your identity. Ensure that you pay close attention to the kind of details they ask for the verification. Legal casinos ensure a seamless process and only seek relevant details. More importantly, they ensure a thorough verification that is not just meant to hoodwink you into thinking they are genuine. Ingenuity in the verification points to a casino that may not play fair.
2. Payout speed
Legit casinos support major payment options such as e-wallets, bank transfers, debit cards, and credit cards. Additionally, players can access their funds within a reasonable timeframe. Avoid playing at casinos that take overly long to release your winnings.
3. Game practices
A trustworthy casino that plays fairly uses special Random Number Generator (RNG) software that ascertains all your games’ randomness. Thus, even though you may not win each casino game that you play, this randomness gives you the confidence that you can potentially win at one time.
4. Live customer support
Getting customer support from your chosen casino is a key requirement. Focus on live support, which ensures your issues are addressed within the shortest time possible and by an expert. Illegal casinos are known for closing accounts for no apparent reason and will often offer bots as the source of support.
When legal casinos are subject to the required auditing and pass, they often receive a license to prove their legitimacy. Check the regulatory body that audits your casino and evaluate whether or not it has attained its respective certification.
It is a good practice to engage in legal gambling. Through legal gambling, you can positively contribute to the economy through revenue generation. Additionally, it guarantees that the casino has fair rules, makes prompt payouts, and keeps all your details safe without sharing with third parties.