Although gambling is legal under federal law, each state may restrict gambling activities to suit their own purposes. Poker, casino and sports betting is permitted in New Jersey, although you can only do so on sites that are based outside of the United States. A license may be the last thing on many players’ minds when they find a site they want to gamble on, however the presence of one can give you peace of mind that your money is in safe hands.
Understanding Gambling Licenses
Before a site can operate legally, it requires authorization in the form of a license so if you see one on the site you are intending to use, it is a good sign. In order to obtain a license, gambling sites are put under intense scrutiny from its operations and employees right down to the key applicant. It shows that the business has taken the time to meet state requirements as well as their commitment in building trust amongst players: sites need to pay to obtain a license and it is not cheap.
As online gambling is a regulated industry, the process of obtaining a license can be lengthy and complicated. As such, you can be sure that sites with one have met the most stringent standards, giving you peace of mind about everything from data protection and anonymity to crime and fraud prevention.
Purpose of Gambling Licenses
With a license, gambling sites are able to do the following:
- Operate in a long list of countries, allowing global players to engage in gambling activities within legal parameters
- Build trusted partnerships and agreements with payment providers and merchants
- Obtain credibility and build trust amongst players
- Prevent the risk of getting shut down, prosecuted or convicted for illegal operations
- Protect players from fraud, money laundering and other forms of crimes
- Open a settlement account without issues
When a gambling site does not have a license, it is operating illegally. There can be severe repercussions for players when that is the case. With no organization or entity to regulate them, these sites can operate in any manner they please, giving you no guarantee that your money is being handled safely or that it is even being used to the purpose you think it is. In addition, if the site was suddenly to shut down or get implicated in illegal activities, you do not want the complication that can come with it.
Having a license also means that payment providers and merchants are more likely to trust them and form partnerships. This gives players peace of mind that their money is being handled by established names in the industry, lending the site an air of credibility. On the other hand, unlicensed sites may have trouble getting trusted payment providers and merchants to work with them.
Look Out for Licenses on Gambling Sites
Before participating in gambling activities online, it is a good idea to check if the site is licensed. If it is not, you may be better off focusing your efforts on another site that has one. You will be pleased to know that Gambling-NewJersey.com only recommends trusted online casinos that are properly licensed with the NJ Division of Gaming Enforcement. There are no illegal online casino promotions on our website.