| The gaming business has a long, rich history. The use of games for the business started at a low note by introducing a land-based gaming business when technology took shape in the global markets. However, today, it is unfathomable how the field has skyrocketed with thousands of gaming businesses in the market.
Additionally, the introduction of online gaming was the breakthrough that has greatly increased players\' turnover benefits in these sites. At first, people did gaming for fun with a few monetized. However, the introduction of betting and casino games made these games money-based. Though there still exists games for fun today, most gaming businesses are monetized. Players require money as deposits to play these games. The games\' outcomes are fixed with a multiplying factor that raises the players\' deposits to more in a winning case and a loss of the money used to play at a losing game.
For example, the first online casino was introduced in Antigua and launched in 1996 with only 18 games. However, today, online casinos have thousands and thousands of games with great diversity. It is estimated that the net value of online casino games was $12 billion in 2005 and $15.2 in 2006 to $29.3 in 2010.
The exponential growth of the gaming industry has arisen the need for regulation through licensing. It was becoming dangerous, and a security threat has unlicensed and unregulated gaming business.
A Gaming License is a security document that shows among a site or business is regulated and controlled. Licensed games are safer than unlicensed ones. The licensing body stands as the third party group to whom complains and reports can be made against any threats players encounter while playing at a game site. Gaming License thus protects the players from exploitation and risks that may arise from the game site owners and other third parties.
Many countries have developed laws and Acts of parliaments that governs the licensing of gaming sites and business. In some jurisdictions, every gaming site must acquire a Gaming License. However, in some jurisdictions, this remains an option.
Moreover, a Gaming License also works for the betterment so the game site owner. It instills confidence in the players that the site of safe and regulated. This is an attraction factor as many players would like to play in safe gaming environments. More players mean more business to the site owners.
A site can obtain a gaming License after complying with all the conditions given by the licensing body. In most cases, the licensing body reserves the ability to revoke a given license if the condition is breached in any form.
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