As long as online casinos have existed, there have been unregulated casinos trying to tempt new customers into signing up with them. When you play at a casino which is not regulated, you take more of a risk than if you sign up with a licensed gambling site. Here’s what risks you take when you play at an unlicensed online casino:
You don’t know if games are fair
To obtain a license, a new online casino has to meet stringent requirements. Casinos must prove that they are trustworthy enough to exist in a regulated market. When you play at an unregulated online casino, you don’t know that it’s out to scam its users, and there is no way of knowing that its games are fair until you try out the site.
You can’t enjoy the best games
It is often quite easy to identify an unregulated site from the software providers it uses. Reputable software providers only do business with licensed and regulated online casinos. Unregulated casinos are likely to use one software provider that powers all aspects of the platform, from games to banking and customer support.
Reputable software providers offer the most superb content for licensed casinos to use on their sites. Video slots and games from innovative software providers like Playtech, Microgaming or NetEnt offer high-quality graphics and audio.
You can lose your money
Geo-restrictions are a consequence of licensing requirements that sites have to meet. There may be excluded countries where specific casinos do not offer their services. Unregulated casinos are not picky about who plays on their sites as long as they are of legal gambling age. This availability can sway players to sign up on unregulated sites.
Playing on unregulated sites means you have more risk of encountering online fraudsters and losing your money. Licensed and regulated casinos use various security measures and are very conscious about protecting the identities and money of customers.
Big bonuses can sway you
Unregulated casinos may offer staggering welcome bonuses to get you to sign up but you will often find that tougher wagering requirements make it very difficult to clear a bonus and withdraw it. There’s absolutely no point in a generous bonus if you can’t meet the wagering requirements.
Licensed and regulated casinos may not offer such huge bonuses but their terms and conditions may be more favorable.
You should try investing your money rather than playing at an unregulated online casino. Financial consultants can teach you new methods of investing and what suits your portfolio best.