Challenges in the regulation of VR casinos
Online gambling industry is developing rapidly, with new features and possibilities that are challenging both for players and regulating bodies. The concept of VR casino gaming is rather new and revolutionary, but from a regulatory standpoint it still faces some serious regulatory challenges. In fact, some still consider it as a grey zone.
How Slots Million Casino Gained Their License
Online casino development is closely connected to legal regulations. Challenges occur whenever something new comes up on the scene, but only licensed and regulated casino is the safe place for your ultimate casino experience. Slots Million Casino is one of the few places where you can enjoy both the latest and classic video slot games – presented in the virtual reality. When constructing the VR casino section, the company had to work in close cooperation with the Government of Malta. Just as a reminder, Malta is one of the couple countries that also work as governing bodies for the entire online gambling industry. You can be sure that both safety and fairness are practically a trademark of a casino that holds a valid license issued in Malta. The concept of virtual reality casinos made for quite an odd legal stance as far as creation is concerned, even before it started to operate. Still, Slots Million Casino operators managed to prove the fairness, security of financial transactions and all the other good things you look when deciding where to play a casino game.
Innovative Rules and Regulations
During the several months of the construction of Slots Million Casino virtual reality section, the Government of Malta insisted that casino operators implement yet another novelty. Have you ever noticed any clock on the wall, if you played in a land-based casino, of course? No, you can’t find any visible clocks in traditional brick ‘n’ mortar casino, but take a closer look while standing at the Slot Million’s lobby. Clocks are visible on the walls, so that players cannot “lose” themselves while playing their favourite games. Furthermore, Malta also restricted multi-player tournament games feature, because the rules say a customer’s wins and losses should remain private.
Digital Skills Gaming (With Prize): Another Challenge
While talking about the challenges in the regulation of Virtual Reality casinos, we can’t forget the story of a whole new product in the industry. Both the reputable experts and regulating bodies such as the Malta Gaming Authority are now looking for ways and means to create and implement a specific regulatory framework for Digital Skills Gaming (With Prize). Let us briefly explain the concept: you have decided to play an alien shooter slots game. There is a bonus round during the game and it offers some hefty real money prizes, but you need to earn it using your skills. Take a gun and shoot as many aliens as possible within a predefined time frame – what you are left with is yours. So, if you’re into such gaming, why not pay a quick visit to Slot Millions Casino and see it in action?
Being a completely new and challenging concept, virtual reality is facing some serious problems when it comes to the legal regulation. At the same time, VR casinos are struggling to prove fair and secure in order to attract even more punters worldwide. Without a valid license, all the hard work may be a total waste of time. That’s why powerhouses such as Slots Million Casino took an additional effort to obtain the license, although some gambling jurisdictions are still likely to prohibit VR casinos completely. The other countries may impose restrictive regulations, which could stymie the development of a market and limit the customer reach. It is the matter of the greatest importance for regulators, operators and players to understand the concept of virtual reality and how it may lead to other great things in the future.