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Online Gambling and its Regulations
Many entrepreneurs dream of running an online gambling outfit or casino. There is a good reason for this as the number of people who bet online is in the millions and the industry itself is worth billions of dollars.
There are so many types of online gambling sites from those that offer the basics to the more extravagant ones to the non-Gamstop registered ones on sites like this.
Beyond the flashing lights of the games and the millions to be made by the owners of the website, it is important to note that online gambling, just like real-life gambling, is very well regulated depending on the jurisdiction the establishment operates in. If you are looking to enter the online gambling business, it is imperative that you understand the regulations that are in place for the industry, some of which are as follows:
1. Registration: This is perhaps the foundational law that governs online casinos in the UK. it is illegal to run any form of gambling business, online or in-person, without duly registering it. The body that controls and regulates gambling in the UK is the Gambling Commission.
Before you can operate any form of gambling business in the UK, it is important that you register your intent with the commission, receive an official license to practice and then make sure that you comply with all rules and regulations set up by the commission. Failure to do so will attract severe legal consequences.
2. Gamstop: Online gambling businesses in the UK are also required to register with Gamstop, a non-profit organization dedicated to combating gambling addiction. Gamstop offers self-exclusion services for individuals through which they may register their details and for a certain amount of time, will be restricted from enjoying gambling services.
If your business is registered in the UK, you must comply by refusing gambling services to anyone who you find to be registered with Gamstop, and failure to do so will also attract legal consequences. If you wish to run a non gamstop casino, you would have to register outside of the UK to do so legally.
3. Age verification: One of the most important restrictions that online gambling sites are subject to in the UK is that they are not to offer any gambling services to people under the age of 18. This is enforced by all users of online gambling sites having to verify their age digitally before they are allowed to access services.
The law has been updated to ensure that users should not be allowed to deposit money at all on an online gambling site until their age has been verified. This must also be taken very seriously if you are to run an online gambling site that is in line with the laws of the country.
Running any business online is complex but running an online gambling business is complex in a unique way. Consider the above as some of the many restrictions and regulations that such businesses are subject to.
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