Licenses and Betting Sites: Why are they Interdependent?

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There is no shortage of online betting websites in India that vary in their quality and character. While we have some of the best online betting websites like Uwin Sports, Betway, Bet365 etc., some bad ones need to be avoided. 

It is advisable always to use online betting websites which are licensed. A licensed betting website is a sportsbook that has acquired a betting license from any organization or regulator recognized by the Government. This provides the online betting website with some legitimacy and trust compared to those without a license. 

Reasons to choose online betting websites with licenses

Here are the reasons why you should choose a website that have a recognized license for all your online betting needs:

Recognized authorities regulate licensed websites

Any online betting website with a license is regulated, meaning they have to adhere to rules and regulations. There is an authorized regulator whose job is to make sure that the betting websites follow the rules and no malpractices are being conducted. 

Malta Gaming Authority is considered to be the golden standard when it comes to betting licenses. You can blindly trust any online betting website licensed by Malta Gaming Authority. This is because they impose some of the most stringent regulations on the betting websites and cancel the license of any website that doesn’t fall in line. 

UK Gambling Commission and Curaçao eGaming are other official regulators who come after the MGA. These are also very reputable regulators but not as strict as Malta. 

Your money is safe with a licensed betting website

The licensed betting websites go through financial auditing regularly. The official regulator who issues the license carries out these audits. It is done to check whether all the required requirements and regulations are being met by the website, keeping them in check. It also ensures that the betting websites do not use the funds to aid any illegal activities. 

When the audit is being carried out, the regulator makes sure that the winning amounts of the players are kept in ring-fenced accounts separately from the regular business accounts. So this means that even if the online betting company goes bankrupt, the user’s money will be safe, eventually being returned to them.

A licenced betting website is where you may file a complaint.

You can formally lodge your complaints against the betting websites to the official regulator. You can lodge these complaints regarding any issues that you face. For example, suppose you want to withdraw your winning amounts, and the website asks you to fill up different forms and delay the process. Then, you can formally complain about them. Also, if you find any irregularities on the website, you can take it up to the regulator of that particular website.

The regulator of the betting website is the one you should approach in case of any problem. They make sure that the players are treated fairly and are there to sort out any problem they face.

A licensed betting website is a real company

India has seen a huge rise in online betting on different casino games and sports in the last few years. Because of this reason, a lot of online betting websites are setting up operations in the country and opening their doors for Indian players. 

While most of these are trusted and regulated online betting websites, a small fraction of them is more interested in a fraudulent business, scamming their players and disappearing with their money. 

However, you can avoid this by choosing an online betting website licensed by an approved regulator. Licensed online websites have a registered office with corporate values where you will find actual employees looking after the website’s operations. They earn profit by providing their customers with good service and paying their taxes. 

Setting up a fake online website for online betting can be done by anyone but getting a license from an authorized regulator is not everyone’s cup of tea. This is mainly because you need to pay a substantial fee to get your website registered and obtain an online betting company license. Getting a license is very difficult, so you can trust a website with a license. 

Some licensed betting websites in India

While finding an online website for placing bets on sports and casino games can be done with a couple of clicks, finding an authentic betting website with a license from an approved regulator can be tiresome. To save your from the trouble of going through each website looking for the license, mentioned below are the licensed online betting websites which are operational in India: 

Conclusion

While a betting website doesn’t need to be licensed to operate in India, you must always look for a licensed online website for your betting needs. There are only two requirements for an online betting website operating from outside the country, and Indian rupees must be accepted as a currency. 

Because of these reasons, you will come across many betting websites, but not all are genuine. So don’t fall for the trap and do your research before choosing your online betting website.

Also Read: A Guide To Best And Trustworthy Sports Betting Sites

FAQs:

  1. Are online betting websites regulated?

Not all online betting websites are regulated. Only the licensed betting websites are regulated by the authority which has approved the license. So while choosing your online betting website, make sure that you choose one that is licensed. 

  1. Who regulates the online betting websites?

The online betting websites are regulated by authorized organizations like Malta Gaming Authority, UK Gambling Commission etc., who also provide the license to these websites. In addition, the Government can also regulate the online websites where players bet on casino games and sports. 

  1. How to find out if the betting website is a genuine one?

The best way to find out whether an online betting website is genuine or not is by checking whether it has a license or not. Licensed websites are regulated by strict rules and regulations, ensuring that they treat their users fairly.  

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