In the 1990s, online casinos first came on the scene, and for several years, new casinos opened and closed with regularity. With so many casinos coming and going, many people weren’t sure who to trust. However, many casinos quickly realized that they needed to work hard to ensure that they became legitimate, trustworthy, reputable online casinos that people could trust. Finding a reputable casino that you can trust with your money is important, and here’s a closer look of what you should look for when making your decision.
Licensing for Online Casinos
Certain companies offer licenses to online casinos, while other countries have banned online casinos. Licensing requirements for online casinos vary, but in many cases, the process followed to apply for and maintain licensing is very close to the process for the licensing of land-based casinos. Casinos that have an excellent reputation are often licensed by the countries of Gibraltar, Costa Rica, Malta, and Curacao. All of these countries have closely regulated online gambling from the very beginning of the online gambling industry.
Online casinos that have been licensed in these countries must meet strict requirements. The licenses are costly and the application process includes checking for any suspicious financial activity, running background checks on casino founders, and ensuring that the games are fair. If online casinos fail to meet their obligations or come up to the standards of the licensing country, the license may be revoked.
To be licensed, reputable online casinos must have their software tested by a third party auditing firm. Quality auditing firms include Technical Systems Testing and eCogra. These firms test and audit the online casino’s software, ensuring that the casino accurately reports the house edge in the payout percentage numbers they release. To find a reputable online casino, find out which company has audited and tested their software. If it’s not a top company, such as TST or eCogra, you may want to check further into the legitimacy of the casino.
It’s also important to look for online casinos that offer safe banking. Before adding money to a casino account, check to see where the casino is regulated, read reviews on the casinos, and check player forums to find out if other players have encountered any problems. It’s best to stick with reputable online casinos that have an established reputation online.
Check the Terms and Conditions
Always take the time to read the terms and conditions offered by a casino when you sign up. Find out how long it will take to complete banking transactions, check to see if there are withdrawal restrictions, and find out of the transaction fees are charged by the casino. Reputable casinos will always require you to document your identity before you withdraw your money, which prevents problems like international tax evasion, fraud, and money laundering.