Let’s start by exploring what online gaming, A.K.A iGaming, is.
iGaming/online Gaming Explained
iGaming or online gaming can be defined as the wagering of money on the results of events or ‘games of chance’ that a gambling website offers.
Online gaming operates similarly to your classic brick-and-mortar gambling casinos, but access and participation are virtual, as opposed to in-person.
With iGaming, there’s no need for players to leave the comfort of their homes to enjoy the thrill of gambling with the same great potential payout.
Playing online gambling games, sports betting is easy and instant — users merely participate in iGaming via telecommunications like the internet and PC or smart device.
Online Games that are Recognized
In the Isle of Man, the regulation pertains to 'games of chance', which are offerings that involve players betting money (or money's worth) and any others that incorporate an element of randomness, or, quite literally, chance.
Online games that are recognized on the island include roulette, blackjack, pontoon, punto banco, bingo, gambling on horse races (film or video), casino brag, poker, games of dice, baccarat, chemin-de-fer, backgammon, keno, playing on automatic machines, wheel of fortune and super pan 9.
Back to Online Gambling Licenses
Finding a trustworthy online casino can be problematic, however. With thousands of contenders diving into the market, some illegally and without a license, players are at risk of scams. The unfortunate reality is that criminal gambling activities like money laundering are rife.
Gambling authorities are aware of the dangers and their main objective is to prevent them.
How do they do this? With a set of world-class gambling laws and compliance regulations that operators are obligated to follow. If standards are met and honored, businesses are usually granted an online gambling license.
A legally authorized gambling license means the operator has pledged to protect its players by preventing gambling addiction and underage participation and steering clear of any fraudulent practices like money laundering, etc.