What makes a well-regulated gambling industry?
Gambling has been popular for centuries in the UK and around the world. Many people prefer to play online casino games. Online games offer increased choice and availability of games and convenience of playing at a time and place that suits them.
Gambling businesses in the UK are regulated by the Gambling commission. The commission was created following the introduction of The G gambling Act 2005. There are three main principles that guide the regulations. They are: Grieving activities should be connected with criminal enterprises and transparent. People should not be exploited and young people should have access to gambling. It is also important to protect them from harm and exploitation. Gering Act is not a perfect regulation. Some of the criteria for a licence include ownership, financial situation and potential links to criminal activity.
The gambling industry in Ireland is well developed and tightly regulated. Private members clubs are allowed to operate in the country. Online casinos in this country need to be regulated just as land-based venues do. The Gambling Commission is one of the most recognised and trusted licence providers in that country and is overseen by the Department of Justice and the Irish Revenue Commissioners.
Gambling industry regulation is in place to protect the consumers and the operators of gambling sites and land-based venues. Regulators need to change and adapt as the industry continues to develop. The fast advancement of technology means that the online gambling landscape is constantly changing. Increased use of cryptocurrency and increased number of operators accepting cryptocurrency transactions could prompt changes in rules.