More Nations Continue to Open the Door to Legalised Gaming
For well-known reasons, gambling has been as controversial as it was popular throughout history. In some areas it remains a grey area and sort of a social stigma. The rise of online gambling saw continued, though sporadic measures to regulate it. The general principle is like this. Countries wishing to regulate online gambling pass specific laws that make it legal for companies based there to offer gambling services. Thus, online gambling in such countries becomes officially legal. Some of such prominent countries are Malta, Panama and Costa Rica. Others are Antigua & Barbuda, Curacao, Isle of Man and Alderney. In these jurisdictions there is usually a dedicated, specific organization responsible for gambling regulation. It issues licenses to the gambling companies that were approved for operation. Gambling companies wishing to get a license and retain it, must meet several requirements. Although the exact set of requirements varies, it typically includes suitability of owners and executives, appropriate accounting procedures, fairness of games, handling problem gamblers, prevention of underage gambling and relevant customer support.
One of the world’s most reputable gambling regulators is Malta Gaming Authority. Maltese licenses are expensive but highly prestigious. The license fee is 25 thousand euros and the processing of the application is 2.3 euros. There are four classes of Maltese licenses: Class 1 – for table casino games, slots and lotteries, Class 2 – for betting, Class 3 – for betting exchanges, pools and poker rooms, and Class 4 – for online gambling.
Recently, Ukraine has joined those regulating jurisdictions. In February 2021, Ukraine’s state budget got the first money from selling a gambling license. It was obtained by an online casino. Until 2020, both traditional and online gambling was outlawed due to the 2009 law. The casinos, however, managed to work in the shadows, being disguised as instant lotteries. The 2020 law has legalized both traditional and online gambling, mainly casinos, betting shops, slot-machine parlours and online poker. A notable feature of the law is that it does not require any specific operator’s premises or its actual presence in Ukraine, as long as the company is Ukrainian. All online casinos must have a .ua domain name and a registered website.
In June 2021, Canada passed a bill to legalize betting on single games of football, hockey and other sports. Before that, only horse racing gambling was legal under the country’s Criminal Code. Provincial governments that regulate gambling in Canada, have reportedly supported the legalization of single-game betting in the hope of harvesting revenue that could fund scientific research, health care or education, for example. When it comes to other gambling games, several forms of gambling have been legalized by the government, including a few types of online gambling. Some of such websites include the best online casinos in Canada.
Only a handful of countries currently prohibit online gambling. They are Cyprus, Poland, North Korea, United Arab Emirates, Singapore, Brunei and Cambodia. Many other countries choose to boost their tourism and economy by trying to benefit from the growth of online gambling. Whether it’s moral or not remains an open question. The bottom line is always to play responsibly and in a stable financial condition, regardless of country.