Being a good online gambling operator isn’t just about offering the best games, bonuses, and prizes. It’s also about practising ethical online gambling. Many issues are plaguing the industry in terms of transparency and accountability, but it doesn’t have to be that way.
Implementing ethical gambling standards and industry best practices should be a core part of your operations.
Transparency for ethical online gambling
Gambling License details
Most licensing jurisdictions require you to display your gambling license details on your website. Doing this is also a best practice in the industry and demonstrates a commitment to ethical online gambling. It must be displayed at the bottom of the page and include a link to the Licensing Authority (when applicable). This demonstrates that your license is current and not subject to any restrictions.
Company details and contact information
Also at the bottom of the page, you must include the company name, address, and registration number. It’s also good practice to include an email address, phone number, and social media links. This makes it clear who you are and how people can contact you. Hiding behind anonymity just makes people suspicious and could be a breach of your license.
Fairness in ethical online gambling
Online gambling sites must have a random number generator for certain games. This spits out certain numbers, as required, for games embedded within the site or app. This RNG is provided by a third party and must be certified. Many licensing authorities will ask for evidence of its certification. This shows that your games are fair and are not biased towards the house, outside of the regular and legal parameters. Being fair to players is a key pillar of ethical online gambling.
Clear deposit and withdrawal rules
How can clients deposit money, and how they can withdraw it again, must be made clear. You should provide step-by-step guidance and ensure that withdrawals are just as easy to execute as deposits. Be honest about any fees charged by yourself and make them aware their bank may sometimes charge. You must also detail timeframes including how long it takes to process each kind of payment.
Bonuses and promotions
Most gambling sites offer bonuses, free spins, cashback, and other incentives. Promotions, draws, and prizes are also popular. You must be honest and fair with these and provide information on terms and restrictions. Always keep your word and give players an avenue to query or complain if the situation arises. Lastly, be clear with any limits, time frames, and rules that apply to any games or promotions.
When accepting payments from players, you must do what you can to be sure they are secure. This means providing SSL encryption on your platform so their data cannot be stolen and misused. Failure to do this demonstrates a lack of care for your customers and will stop people from wanting to use your site. Furthermore, it could get you in trouble if data is leaked, ruining your reputation. Ethical online gambling platforms emphasize protecting client data.
KYC and DD
Know Your Customer and Due Diligence at the onboarding stage is not just a legal requirement. It also provides protection for you, and members of the public. Comprehensive processes mean you can avoid your platform being used for criminal offences like fraud, money laundering, or identity theft. You should integrate AML policies and seek to use technology that can help you be as thorough and accurate as possible.
If you have an application, an API, or just use an in-browser platform, you should take steps to ensure it’s secure. If users have to download something, make sure it’s virus-free. Ensure that any software used by you and your players is as secure as possible. It’s also a good idea to request two-factor authentication via mobile or email, or the integration of biometric authentication.
Legal matters for your gambling platform
Terms and Conditions
Terms and Conditions are perhaps one of the most important documents on your site. It lays down all your terms, rules, and provisions in one place so your players can be sure they agree. It covers what happens in disputes, liability, and how certain matters are dealt with. In short, it constitutes a legal agreement between you, the service provider, and the player. They must agree in full with these terms before the service can be provided. This is also important as it acts as a disclaimer in certain legal situations, saving you hassle further down the line.
Having clear AML/CTF policies along with any other compliance policies shows you take these matters seriously. It also demonstrates you have made your team aware of it. In most jurisdictions, these are legal requirements that must be abided by.
Contact Fast Offshore
Contact Fast Offshore for any questions you might have. We assist with incorporation, compliance, accounts, and licensing. With more than 23 years of experience, there’s no one better to help!
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