What exactly are licensed online casinos?

The licеnse in the field of gаmbling is the official document issued by the government bodies of a particular country, the purpose of the issue is the legislative regulation of business processes taking place in the gaming industry. That is, a state that provides the possibility of creating online casinos and casinos in its legal jurisdiction is striving to make the relationship between players and business owners as transparent and obeying the general rules as established by local legislation, as well as generally accepted international standards and norms.
By the fact of issuing a license to a legal entity, the state at the official level recognizes its legal (from this point on) right to conduct a specific type of business, within a strictly defined and prescribed by law framework. Simply put, a license is an official document confirming the right of an entrepreneur to provide services to individuals in the field of gambling, in our case it is an online casino, slot machines, roulette or other gambling.
A very important point is that when visiting license casinos, a person understands that his rights are protected by the law, he will not become a victim of fraudsters. And business owners, in turn, are aware that the online casino being created will have the appropriate image and status, without which successful business development will be unlikely. It is obvious to everyone that business is legal and legal relations are controlled by official state bodies. This is the most serious sign of reliability and credibility!
A little about the history of online casino licensing in various regions
Despite the fact that the gambling industry began to develop far from yesterday, until today there have been no attempts to create an international structure to regulate this sector of the economy. Virtual slot machines and casinos are far from being licensed by all states on the planet; this kind of activity is available only in a limited number of states.
At the dawn of the 1990s, the first to propose to engage in such activities under their jurisdiction were such exotic countries as, for example, Barbuda and Antigua. Eight years later, Canadian Indians, in their own state, also followed a trend that is gaining popularity and began issuing licenses for online casinos. After some time, virtual gaming machines, legally became available on the British Isles of Gibraaltar and Maine. The list of states licensing the creation of virtual casinos has also been added to Belize, Malta, Curaçao and Cyprus.