Many people find gambling as a main source of entertainment. It is not a surprise considering the wide range of options that are available in both land-based casinos and online platforms. However, we can find all kinds of rules in different countries. There are places where you can easily access this sort of entertainment, while there are those where it is completely illegal.
While it was much easier to control this market before, things got more complicated with the expansion of online platforms. Even if some website is banned in your country, there are ways to get over these restrictions by simply using VPN. On the other side, you can still face various issues if you choose this option. We also have to mention the black market and underground casinos, which are common in places where gambling is banned.
It seems like things related to this industry have been changing in recent years since countries started realizing that regulating this market and making it available can help boost their economies. That was the case with the US, where online gambling became legal only few years ago.
Many other countries are planning to do the same. For example, Ukraine plans to introduce a new law that will allow people to play all kinds of games of chance, such as lottery, traditional casinos, and online models. You can read more about that if you check out Storm International. Here are the main benefits of having a well-regulated and legal gambling market.
A Highly Profitable Industry
The fact is that some countries are losing billions of dollars because they don’t have a regulated gambling market. As we already mentioned, the black market is the main issue. People will always find a way to play some games, whether it is an underground casino or some website from another country.
For the state where it is illegal, it only means less taxes and lower revenue. On the other side, it is proven that this market can significantly boost the economy by introducing taxes for companies and winners. Also, that will allow these companies to hire people and become more transparent officially.
Another huge advantage is related to tourism. The best example is the most popular gambling spots in the world. The first thing that most people will think about when they hear about Las Vegas or Macao is related to luxurious resorts where they can enjoy playing all kinds of games.
Dealing with Black Market
We have mention that underground casinos can become a serious problem. A lot of countries have faced this issue. Even some of the most developed ones, such as the US and Japan. In most cases, the owners of these underground places are criminal organizations. Therefore, allowing them to operate will lead to increased tax losses, more crime, funding of terrorist organizations, and more.
Also, there is a high chance that players could face various problems, and there won’t be a way for officials to protect them legally in this case. For example, when an underground casino reject to pay-out some player, or when someone go into a serious debt.
On the other side, when there are strict regulations, companies must be transparent, it can be seen who is behind some online platform or a land-based casino, how much they are earning, are they paying taxes, how much people is working there, and more.
Increased Security
There are some benefits when it comes to the expansion of online platforms. You can compare different options to find the most suitable one, or enjoy in various benefits related to promotions they are using to attract more players. However, with increased selection of websites, there is also a higher chance of facing a fraud.
Countries where this market is well-regulated have introduced some restrictions towards unknown platforms, making them illegal. In most cases, you won’t be able to access websites that doesn’t have a license.
Keep in mind to always check whether there is a license, a certificate of security, and proper layers of protection on some website. If you live in a state where you are allowed to play only on websites that are registered in that area, you should never try to access some other platforms. For example, by using a VPN. Even though you will be able to play there, there is a chance to face issues when you want to withdraw the money from that platform since the officials can track the transactions.
The main advantage is that it will keep players from unknown platforms where they risk facing issues like identity theft, money theft, and malware. You will have a much better experience when you know that you can freely use your credit card without having to worry.
Increased Awareness of Addiction
The gambling addiction can be a serious problem, and it might require a rehab in professional institution. Countries that have a regulated gambling market usually require companies to make certain steps related to introducing people with potential issues, and even allowing them to prevent themselves from playing.
It became common on many platforms to have an option to restrict yourself from gambling for a limited time or completely ban your profile and lose the ability to register on that website ever again. One of the best solutions is to use GamStop, where you can register and block access to many websites that collaborates with this service.
The Bottom Line
The key advantage of a well-regulated market is transparency. Countries can collect taxes, which will help them boost economies, while it is also a great way to protect people from criminal organizations and scams.
That is especially important for online platforms where you have to share private data and register by using your ID and credit card. If you are not sure whether a website is safe, the best way is to check whether there is a license, proper security, and well-known payment processors. You can also check the experience of other players.