It has taken around 20 years, but the online slot gaming industry has grown to become something truly remarkable. More and more players are turning to their smartphones, tablets, laptops, and other devices to play these casino slots in the pursuit of that life-changing payout, or even just for fun.
The growth and popularity of online slots have meant that stringent regulations have needed to be put into force to keep everyone safe and protected. The Gambling Act 2005 is one of these regulations, and although they might seem complicated at first, once you delve into them they do make a lot of sense.
Why Have Regulations?
If online slots are simply online games that are paid for money, why are regulations needed? One of the biggest reasons is that, as with any aspect of the gambling industry, if left unchecked and unpoliced, online slots could become a victim of organised crime. Not only this, but gambling addiction can take a terrible toll not just on the person directly affected but on their friends and family too.
Regulations can help to stop online slots falling into the wrong hands, and can also help those who might become addicted to curb their spending habits.
In essence, the regulations, as long-winded and complicated as they might seem, are there for everyone’s protection, so it is important to stick to them and make sure the games you are playing are sticking to them as well.
The Gambling Act 2005
The biggest change in the history of online slots and the regulations relating to them came when the government implemented The Gambling Act 2005. Not only did this make gambling using the online slot games safer, but it also allowed the casinos to actively advertise those games. The industry grew rapidly and, with more people playing, more money was being spent – and that meant more money could be won.
Online slots can be played in many (but not all) countries around the world, and the regulations differ in each place. Some are more relaxed and some are much more strict, so it’s important to understand where you are playing and what the specific rules that you need to think about really are.
In the UK, the Gambling Act 2005 is the main set of regulations for online slots. Some of the rules that need to be followed since the implementation of this act include the fact that casinos have to disclose the RTPs (return to players) on each slot. Advertising also needs to be factual and contain nothing misleading, and of course, no one under 18 is allowed to play (if you do play under the age of 18 then no matter how much you win, even if it’s a huge jackpot, you won’t be able to claim it).
In the USA slots are extremely popular, but the rules are very strict. They don’t just vary between America and other countries, but they also vary between different states. There are both state laws and more general federal ones (ie these laws apply to all states).
In Australia, more money is spent per capita on gambling than in any other country in the world. Perhaps due to this and the income that the Australian government receives because of it, the rules are much more relaxed.