How to Ensure Regulatory Compliance When Moving Your Casino Online with TRUEiGTECH

Methods to Ensure iGaming Regulatory Compliance When Moving Your Casino Online?

There are several aspects that come under online gambling regulations compliance, such as understanding jurisdiction laws, licensing requirements, payment compliance, taxation, etc.

1. Understand Jurisdiction Laws

The number one thing to do is to check if the area where your casino is federally regulated for gambling or not. Ideally, only a few states in the US allow gambling, such as Nevada, Delaware, Michigan, Connecticut, Pennsylvania, etc. Each of these states has its own gambling laws, varying based on types of games allowed, payment processing platforms, geolocation restrictions, and more. Operators must check and verify these obligations before moving the casino online.

2. Get the Right License

Whether starting an online casino or moving to one, a valid license proves that you are operating legally. This further streamlines the process of operating in the state, scaling, paying taxes, and entering new business avenues. Depending on the jurisdiction, you have to follow a process to obtain the license that includes a comprehensive background check, proof of funding, operational plans, payment of licensing fees, etc.

Based on the state, you can follow the process managed by the New Jersey Division of Gaming Enforcement, the Pennsylvania Gaming Control Board, etc.

3. Find a Platform Provider

There can be several platform providers who have already navigated the process of regulatory compliance for an online casino. You must find these providers and opt for one that belongs to your jurisdiction. TRUEiGTECH casino solutions can be your ideal partner as they can provide you with the best white-label casino software development services. Getting in touch with a platform provider can reduce the time to market.

4. Implement Responsible Gaming Measures

If an operator wants to stay aligned with the online gambling regulations in the US, they must ensure that the platform promotes responsible gambling practices. These practices must promote healthy gameplay without being addictive. Here are some practices that you must implement.

• Self-exclusion programs allow players to restrict themselves.
• Deposit and betting limits.
• Automated timeout settings.
• Age, identity, and geolocation verification.

5. Ensure KYC and AML Compliance

Online casinos can be a hotspot for underage gambling and anti-money laundering activities if operated illegally. To ensure that the money used in an online casino is legit and that it is not a centre of illegal activities, KYC checks and AML processes must be implemented. This can include

• Monitoring user transactions for any suspicious activity.
• Checking and verifying user identity via valid documents issued by the government.
• Keeping track of large transactions and reporting them to regulatory authorities, such as FinCEN.

Staying compliant with KYC and AML norms prevents fraud, identity theft, and money laundering.

6. Strengthening Data Safety and Privacy

Online casinos may have a lot of sensitive financial data of their users. Therefore, while moving your casino online, you must integrate strong data security and privacy measures to ensure data security and privacy. Here are some steps that you can take.

• Invest in encrypted data storage and multi-factor authentication.
• Have proper incident response plans to handle data breaches and cyberattacks.
• Secure financial transactions using a PCI-DSS-compliant payment gateway.
• Invest in powerful firewalls and intrusion detection systems.

Besides these methods, you must pay taxes depending on the tax rate in your jurisdiction to comply with online gambling regulations and prevent financial penalties. Furthermore, it is also necessary to submit regular financial reports to state gaming commissions.