How Do Online Casino Platforms Protect Your Money?
Each country has an online gambling policy, and each company must acquire a gambling commission license in order to participate in online casino business. Players must understand that their funds are not protected by the government, but solely by the online platform. There are chances that the gambling company will become bankrupt, hacked, or closed for any other reason. Players must thoroughly read the terms and conditions of the casino that they plan to use, and choose the one which offers the best protection policies. Keep in mind that some licenses are granted to casinos, while other can simply be bought, so obviously the first type is preferrable.
Online casino fund protection policies are subdivided into three categories:
Basic protection is the category according to which the money of the players is under the platform’s control. In case of company’s bankruptcy, there will be no refund at all. Medium protection is the category under which the funds of players are held on a separate virtual financial account, like eWallet. In this case, players will most likely receive a refund if the gambling company is closed for whatever reason.
Lastly, the high level protection policy suggests that the funds of the player are held on a separate account, controlled by a third party, so in this case the refund is guaranteed. Moreover, such accounts have passed PCI DSS inspection, have a secure socket layer which protects the player’s private data, and have verified Visa and MasterCard secure codes. Furthermore, online gambling platforms that offer the highest security levels are heavily armed against fraud themselves. Gambling platforms may suffer hacking attacks, that is why they install anti-fishing systems, and have secure and encrypted data for their own sake in the first place.
All in all, the only way to protect your finances during online gambling is to choose the right platform. Although registration fees, monthly fees or any other terms may be less profitable for the player, yet they should certainly choose the company with the high level of protection policy. The advantages are obvious. If you choose the right platform, you won’t have to worry about your finances and you’ll be able to receive a refund in any case.