No one likes to be told what to do. However, here at Jackpot Capital Online Casino, we know that some regulation is good for both us, as an online jackpot casino, and also for all of our gamers, present and potential.
So, what does regulation mean and how does it benefit everyone?
Regulation fulfills two needs. First, there is the need for gamers to find a much more accessible place to play casino games. The second need is for an online casino to reach those players and to give them the confidence that gaming at that online casino is safe and ultimately fulfilling from the game standpoint.
Since online casinos first came aboard in 1994, casino players have known that the online venue has at least the potential to supersede the land-based venues for casino gaming. The Covid 19 pandemic closed most, if not all land-based casinos and the gamers who had not yet taken the online casino gaming step suddenly found themselves taking that step.
The regulations that were then in place made the transition to online casino gaming infinitely easier for displaced land-based casino players than it would have been had there been no regulation in place at the time.
This is generally called a black market. Black market buying and selling is illegal in all jurisdictions but it survives as well in almost all jurisdictions. The key element here is what percentage of the overall economy in any locale is black market and what percentage is regular, regulated market?
While an unregulated online casino is not exactly a black market enterprise, it might best be called a grey market enterprise. No online casino wants to be seen as a grey market enterprise. The term grey market conjures up images of shady business practices.
Since online casinos hold gamers’ money on account, the last thing they want is to be seen as a shady business.
Thus, online casinos welcome a reasonable amount of government regulation. Where online casinos and governments differ on regulation is in areas where the casinos are competition for other gambling activities that the governments benefit from financially to a very large degree and they see online casinos as a challenge to the revenues the governments earn from lotteries and horse racing.
Governments can most certainly tax online casinos. An online casino is no different than any other business that buys products and sells finished products. Amazon comes to mind, but Amazon is just one of many thousands of businesses that sell products or services online.
A better example is tourism and hospitality. If you are planning a vacation, then you would go to the internet and start a search. You would get literally millions of responses. A slightly different search would result in another million or more results.
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Yet, tourism and hospitality are taxed even as the excursions are bought online and the bookings are done online. Governments can also tax winnings of individual gamers and they can tax profits of the individual casinos.
Anyone who is willing to fork over $1000 or so for the huge Welcome Packages online casinos sometimes offer has to wonder how safe their money is at the casino. Casinos are very happy to be told of the prowess of the encryption software they have to use to protect gamers’ money and they are very happy to tell this to gamers.
As the online casino market now reaches almost 100 billion dollars a year, it would seem that just knowing about top-level encryption software gives gamers the confidence that they can safely play at an online casino.
An unregulated online casino could fall into the hands of criminals who would take gamers’ money and never be heard from again. In this way, regulation helps everyone except the criminals!
At land-based casinos, most of the jobs are very boring. Hotel workers have tedious jobs. Kitchen and restaurant workers also have tedious jobs. A cocktail waitress might be able to meet some people, but some of the people are people she would not like to get to know.
Dealers and croupiers may seem to have exciting jobs, but dealing blackjack for eight hours is dull work, indeed.
Regulators have to have some savvy about computers, economics, and so on. They earn decent salaries and pay taxes from those salaries. In short, it all comes down to the final aspect of online casino regulation , which is customer satisfaction.
The very fact that online casinos are regulated means that gamers feel safe to play casino games there. Then the gamers enjoy all of the ancillary benefits of playing at an online casino.
Every benefit to gamers that we have mentioned here that comes about because of regulations happens at Jackpot Capital. One final word: Jackpot Capital also features the wonderful Glamma, who has been travelling the world and reporting back to us all about her adventures! She offers a great 200% bonus and a wheel that gamers spin for even more prizes - and that's just one of many bonuses on offer.
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