Operating in a self regulated industry, online gambling operators seek to find ways of regulating their own business to conduct a more legitimate and legal business operation regardless of the jurisdiction where their Internet gambling business office operates.
All the online gambling industry participants that cover online casinos, online gambling portals, sportsbooks and many other online gambling businesses on the Internet have taken advanced steps towards self regulation. This step encouraged the formation of numerous independent regulating organizations that mandate all online gambling operators who operate business on the Internet to secure a license within the jurisdiction where their Internet gambling business operates.
With proper governance from independent regulating and licensing bodies, the online gambling industry has been provided with a secured and credible source that monitors the quality services provided by online gambling operators to all gambling operating participants on the Internet. These governing organizations create their own regulating policies and licensing requirements that entail force compliance among its license applicants for their online gambling business.
Some of the well-known and prestigious regulating bodies that issue certification or license to Internet gambling operators are the Interactive Gaming Council and eCOGRA. Being a non-profit organization, the Interactive Gaming Council operates within the regulations and statute of Canada with a mission geared towards promoting a global interactive industry for Internet gambling. It has a set policies and uniformed code of conduct that should be observed by its members.
The eCOGRA is another independent organization where the core of their services is directed towards providing consumer protection. Its main objective is to ensure that Internet gambling operators will observe an honest operating procedure such as providing its online players a random and fair game including prompt payments to all its winners. It keeps an eye to gambling operator’s financial management whether all winners are compensated with their prizes in a timely manner.
The Alderney Gambling Control Commission is engaged with a dialogue among other regulating international organizations related to online gambling. They closely work with other regulating agencies to prevent the occurrence of crime. The Antigua & Barbuda Commission, whose services are directed in regulating offshore gambling, deals with collecting information and analysis of the gaming software used to ensure fairness of online games provided to online gamblers as part of their technical services. They also entertain complaints concerning their licensees and is in authority for the revocation of online gambling license from gambling operators.
The Kahnawake Gaming Commission is another regulating entity that allows offshore gambling agencies to use their gambling license as per compliance with their regulations and policies. There are many other gambling commissions that issue gambling license to operate on the Internet with the same objectives of regulating the online gambling industry.
Because the dire need to improve the online gambling industry is realized by Internet gambling operators, the formation of licensing bodies that will impose the highest quality of standards to all online gambling operators gives the industry the opportunity to generate more income because of the appealing value of operating a licensed business attract more online gamblers to patronize the Internet gambling industry.