Is the iGaming Industry Really Safe?

Anyone who enjoys the occasional gamble likely knows how large the online gambling industry has grown in the last decade. With plenty of reputable online casinos and sportsbooks operating internationally, the industry caters to millions of players who generate a revenue of over $90 billion annually.

Despite the number of players actively engaging in online gambling, many still prefer to head to brick-and-mortar establishments to try their luck. Although many people simply prefer the glitz, glamor, and social aspect of land-based casinos, others have questions about what safety and security measures the iGaming industry has in place.

For this reason, we’ll look at the measures that online gambling sites implement to protect users, from the simple to the complex. These work together to ensure players’ safety and make online gambling an enjoyable and hopefully rewarding experience.  

The Simple

In terms of simple things that keep the industry safe, there are three main components: systems, licensing, and payments. These are the bedrock for any iGaming provider, and users should avoid any online casino that lacks these measures.

Systems

In recent years, security systems have become a non-negotiable part of almost any online service—not just gambling. With over 800,944 cyber-attacks in the US in 2022 and a remarkable security breach in 2023, cybersecurity is essential to the success of any gambling provider.

This security takes many forms but can commonly be broken down into several basics, such as a site’s SSL (secure socket layer), firewalls, and other security protocols. Each has a part to play in maintaining an online provider’s server’s integrity and warding off attacks.

Encryption of information also falls under the system security of online casinos. Under this mandate, gambling websites must act responsibly and encrypt as much of the data shared between users and the site as possible. This includes players’ activities when on the site, user databases, and payments.

Licensing

The following simple method that protects the industry is the requirement in almost all jurisdictions that a relevant regulatory body licenses a site. This licensing ties into the more complex laws and regulations that ensure the industry’s safety.

Any site operating with a license—not including crypto casinos, which aren’t required to have licenses by law—is generally safe to use. This is because a regulatory body has vetted the platform and given it a pass on all inspections and requirements to operate. However, a site without a license should be avoided, as it is not operating under set conditions.

In regions where iGaming is not strictly regulated by the government or no local governing body exists, licenses issued by other organizations can commonly be trusted. This is particularly true if the license is issued by bodies like the UK Gambling Commission—which is notoriously difficult to obtain a permit from due to its extensive checks, audits, and compliance verifications.

Payments

The final simple security method that the industry uses is that offered by reputable and established payment providers. These providers have extensive security systems of their own and are required to comply with large-scale regulations to operate.

Therefore, any iGaming website that uses reputable payment providers does not only show that they only deal with companies that are above board; they also benefit from the security of these services because all payments occur off-site under the safe environment of the payment provider.

The Complex

Although the three simple things mentioned above do a large amount of the heavy lifting to keep the industry safe, they are related to more complex systems and regulations that make up the foundation for safety in the industry.

Regulation

Depending on where you are in the world, local governments may or may not regulate online gambling. In countries like Egypt, all forms of gambling are illegal, with regulations to support the prohibition. In places like the United States, however, various states have allowed online gambling, passing relevant regulations as these decisions are made.

When this regulation is implemented, it is done in a way that not only sets out the conditions for players’ accessibility to gambling websites but also builds a legal framework under which operators are expected to run their business. This framework is the ultimate defense of the industry.  

Under a country’s regulatory framework, requirements are set in many areas. These relate back to the more straightforward safety measures of the industry, such as determining who can issue licenses to sites, what the cybersecurity requirements are, and even sometimes what conditions are required for a payment provider.

Responsibility

Included in these regulations is the provision for the industry to ensure gambling is undertaken responsibly by anyone who places a bet. This regulation steers away from the practical safety of things like making transactions and bets online and focuses more on the protection of society and the social impact of gambling.

Under this regulation, online gambling websites like those that offer casino bonuses for new NJ players are required to try to identify persons who may display signs of problem gambling. Sites are also required to operate self-exclusion programs and direct players to platforms where they can seek help if they are struggling with gambling.

All these things protect players from becoming addicted to gambling, overspending and coming into financial trouble, and encountering life-impacting situations caused by placing wagers. Alongside this, they also help the industry ensure it can experience growth sustainably and responsibly in a way that doesn’t negatively impact the regions in which it operates.

Conclusion

For anyone who enjoys gambling but has not yet taken the leap to try the pastime online due to safety concerns, these measures are just some ways the industry ensures security. Together, they help protect players so they can gamble without worrying about being scammed or having their money stolen.

More than this, however, they make the industry as safe as possible and encourage continuous growth. With regulations constantly evolving to face new threats, safety is one of the industry’s top priorities and will likely continue to be in the future.