Topic: License: is it a guarantee? - page 5. (Read 530 times)

Of course, not, especially when a license is obtained from a shady jurisdiction so to speak. Curacao gambling licenses, for example, are easily given away for a certain price. It is cheap and easy to get. That's why many online casinos are going there. It is the easiest way to register an online casino.

But does the government of Curacao really make sure that every single gambling company legally registered in its territory passed a stringent screening? Does the gambling regulatory body conduct regular audits? Does the government make sure that the companies are fully accountable? I don't think so.

If a gambling casino or betting site is registered in strict jurisdictions like the US, for example, it could somehow be a guarantee.

The main thinking into those people who would be hearing about having license is that its 100% legit. Yes, we cant blame them on which considering that when it comes to regulation aspect
or correlated things then we can really say that they have abided into those rules but just like on everybody is saying that there would really be no assurance that they wont really be scamming users.
We've seen instances that there are licensed platforms turns out to be a scam.It might not be comparable to those who doesnt have license but you shouldnt really be that
confident when it comes to this. Also, if you are really that planning to gamble then making up some research into those reputable ones wont really be that hard.

Licence was not the guarantee for the money,it’s just for the guarantee of the deposited money.Because after the deposit of the money,if your money disappear in the gambling site.You can go for the legal hire for the money loss in the gambling site.But it doesn’t mean of your guarantee win in the gambling site because of the licensing.So the gamblers should take the game as the serious one and learn the game with some good intentions.So that knowledge will help them to make some money using the technique into their game.The gamblers also need to avoid the random betting into the gambling site and the greedy into the winning.

Way back then, yeah. Gambling licenses held their weight in gold and people certainly had trust in infrastructures and casinos with licenses. Eventually the need of people to gamble overtook their sense of security, and the majority of gamblers in the modern age decided they'd just gamble with whatever casino they happen upon and hope that they don't get scammed when they play there. Of course there are consequences, but when they find out that casinos with licenses do not differ that much against those who don't. They stopped looking for it entirely.

Of course license providers are shaken by this revelation, and since they are a business, they made it a point to make it seem as if getting licenses are still a prestige, but at the same time something that even your local bet shop could earn. From there, we get casinos from god knows where advertising that they get a Curacao license, or whichever they have the guts to show for, while some fraudulent ones fake their licenses to fool people into thinking they are reputable. All in all the lowered standards for claiming a license in the gambling industry caused a massive shift where people aren't so keen to look for it anymore, and even if you do, unless you're working with a tried and tested casino, you still have a chance of happening upon a fraudulent license that would get you fucked over for you money.

Nope, it is not 100% certain that the casino, even if it is licenced, will not scam people or do anything bad to its customers, but the licenced casino will still recommend it, as if something happens, the authorities will know who will be punished, and they have no escape from the law as they comply with having a licence to operate.

A licenced casino is like a security for both the casino owner and its customer, so if anything goes wrong, the customer has the right to sue the casino owner, and they have leverage because the customer can retrieve its funds if something wrong happens when it comes to the money of the customer. Unlike in an unlicensed casino, you don't have leverage if something happens, and you are wasting or spending money in an uncertain establishment that could at any time have the risk of scamming their customers.

No, licensed casinos can still commit fraud. Additionally, in some cases, casino fraud does not apply to all users. Usually they don't pay players who get big wins. Moreover, suing a casino is also a difficult thing so even if we are cheated, we can't do anything except give a negative tag if the casino has an ANN thread on this forum.

To be safer, I prefer to play at casinos that have ANN threads on this forum, because I think it's easier to complain if we have problems at that casino.

A license serves some function that may include making the business legal and suseptible to regulations and regulatory policies.
If any licensed business or casino in this case, goes further to be fraudulent in its dealings with its customers, the customers can sue such a business to court or report them to the regulatory agencies and thus, such casino may have its license revoked or suspended with fines or prison terms.

It is of no guarantee therefore, that a casino with license can't scam its customers because not every employee working for the casino is innocent of such act, even if the management of such casino business means well and is honest enough.

that is true, not ever an assurance that you won't get duped even from licensed casinos. though it is good to play on licensed ones, but much better if they also have good reputation among gamblers. thus, this forum alone can give you better insights which ones are worth your time and money.

do remember that casinos with license can still make some wrongful doings because not all complainants have the capacity to pursue a lawsuit. but what the complainant can do is they can spread negative reviews/feedbacks in forums, blog sites and the likes. however, the site can easily claim that the accusation is not valid for violating some of their terms. so yeah, finding loopholes not to address the situation in the right manner.

Its never been a guarantee and its not a solid indication that a site wont really be ending up scamming. We do know that there are licenses which are cheap and easy to acquire.
Somehow, if you do see a platform or company which are licensed then it would be normal that you would really be having that kind of impression that it is really legit compared to those who dont have
but we know that there are still some casinos which doesnt have licensed as of this moment but still included into the most trustable sites or platforms that we do have in the market today.
This is why it would be always better that if you do really just that simply stick into those reputable sites rather than on making big deposits into those new ones. If you do like
to test out waters then it would really be your choice because not every new platform are scam, it cant really be just that avoided that people would really be that skeptical.

IMHO, it's like the first step to see that the casino is serious with their business. Acquiring some licenses can be easy or not, as long as they do the initiative then you can put a check on your very first factor.

But that doesn't mean that it should be your sole basis whether they're a scam or not. It is a process that you'll have to check other factors depending on how you determine whether they're good or bad.

Typically, many gamblers look at it as something that makes them comfortable at their first glance. But that's just them and you can have additional factors or more of it to decide to trust them or not.

There are certain licenses that are very easy to acquire actually and consequently don't mean all that much when it comes to the platform with the said license following any certain set of rules very strictly.

Of course, some license is better than nothing, as it means that the casino at least would care to spend a little to improve their image. But don't expect guarantees.
This is precisely the reason that if I want to bet a substantial amount I look at a casino's longstanding history and interaction with the community. Frankly these are much more valuable to a good casino operator and they would care much more to maintain their good trust instead of just being ruled by a state authority.

So really for me bitcointalk is one of the best tests, even higher than state casino licenses.

Let me be forward and straight with you mate, the majority of us,  don't even check the license of the casinos we are using and we play there based on the trust we already have in them and since they haven't disappointed,  but we sure that they have the licenses renewed yearly since it is implemented in the terms and conditions.

So with that,  many have felt relaxed and never taken the issue of licensing seriously,  some times it is even at the point of KYC that you get to discover that there are some differences in the licensing origins from the AML demands.

Though licensing may not guarantee if will a casino scam it's customers or not, but at least it gives room to whichever customer whose right has been violated to take legal action against the casino and finally has his/her case fully handled by whichever body said to be regulating such casino. However, licensing gives gamblers a step forward to knowing which casino likely to have lesser risk for gambling and which not for, where they can have easily have access to both fast deposit & withdrawal, which has always  been one major problem people always have with online casinos.

Having a license on a casino does not guarantee that they will not scam other people. It's just a proof that they are allowed to operate their activities. They can still scam other people and be lost without a trace. With a lot of people getting their identities stolen by fraudulent entitie, it's not impossible that these licenses are registered with fake identities leading to other people. So yeah, even if a casino has a license to operate, never put 100% of your trust to them at all.

Being licenced most of the time is one of the fastest means to scam customers. They use the licence to buy the gambler's mind, and they will deal with them with their scam scheme under their noses. If you check most casinos that have been tagged as scammed, some of them have legitimate licences from reputable bodies that give casinos the go-ahead.
 
Sometimes they fake licences just for them to be in the means of legitimate gambling businesses operating, and another thing about licences is that now a fake team can be used to get a licence, and when something bad like a scam happens, no one is held accountable for it.
 
A licence, if it's legit, can only reduce the amount of scam that the casino will carry on, as they would want their licence to be withdrawn if serious allegations are being raised against them, but that doesn't prove 100% that they can be scam-free; one just needs to make their own investigation into the areas they want to verify before they move ahead and gamble at any casino.

License or not they can still scam their bettor or player and link it to their ToS because I don't see any reason of using a licensed casino and yet still face difficulties of withdraw or deposits, there are lots casinos that are licensed yet whenever you visit the site you would witness a hardship over there. License is an operating authority of power to carry out such service and there will be no need to operate underway without having to go through the legal way, that is to say licensed casino are those casinos that are legally operated but doesn't mean people won't undergo hard time over the process of using the platform.

Having a license as a casino is like having an address as a human being or a social security number. That is something that identifies you. For the casino, scams are still carried out by even licensed casinos but then the regulators or the authorities know that this is a legal business and would know how to mete out the punishment if need be. This is just one perspective.

It's definitely not a guarantee that a casino isn't a scam, however it makes it less likely. There's such a big variety of license offerings out there, you need to analyze each one and understand the positives that it brings. Some are simply a rubber stamp type operation, where you pay a fee (generally once a year) and you can call yourself "licensed". However that is the lowest rung and the most likely target of scammers, that are looking to abuse the supposed trust that a regulator is meant to bring. However there are better jurisdictions, that cost more to use but will be a little bit better at holding casinos to account (requiring them to answer complaints adequately) and do more vetting behind the scenes on people the company registers as representatives.

$10K would be small if they are up to pull a bigger scam. Just today, the scam accusation of a casino with a license from Curacao was brought up again and this casino had not replied back to the accusation. The casino operated for years though and I remember playing baccarat in this one. Couldnt believe they were very pro at that time.

We just can't say whether a casino is a scam until it becomes one. That is one reason not to trust one or put all your gambling funds in one casino, you can't just tell they could just do it when they decide they got enough.

Yes, that is true. And the opposite is also possible. As an example we have freebitco.in, which operated without a license for many years, but never got involved in any scam scandals. I believe it has more to do with the intentions of the people behind the website than formalities and regulations imposed by authorities. When people want to act in shady manners, they will do it somehow, even if in order to do that they have to find gaps on regulatory frameworks, while someone who is willing to work in a legit and honest way will do it, even if there isn't any authority or coercitive force to impose rules on him.

History and reputation of the casino are more important than licenses. Licenses can be acquired and purchased at anytime, while reputation can only be built brick by brick along years of history, dedication, effort and transparency. That is what gamblers should pay attention to when choosing a casino where to play.