When most people think about finding a sportsbook, they mostly focus on the odds and welcome bonuses. But have you ever stopped to think about the regulations behind sports betting in the country and whether the sportsbook you want to use is locally regulated? In betting and online gaming, these are quite crucial considerations as they may also be the line between legitimacy and unreliable entities.
Regulated sportsbooks like 1xbet Mobile operate under strict oversight by their licensing bodies, which helps ensure safety and fairness. However, the regulation varies by country, resulting in legal markets, grey markets, and black markets.
What Is a Regulated Market?
A regulated market is simply where the betting activities are monitored and controlled by a government agency. The agency is responsible for giving out licenses to operators, and it then ensures that all sportsbooks and casinos offer a fair, secure, and transparent service to the customers.
In the Philippines, operators are licensed and regulated by the Philippine Amusement and Gaming Corporation (PAGCOR). It was created to end illegal gambling activities, and it’s responsible for ensuring that all operators in the country follow the established guidelines.
Here are the three main features of regulated markets.
- Player Protection: The first major requirement is to ensure that the players are safe. Their data should not be compromised, and there are also limitations on how an operator can use it. All sensitive information must be encrypted, and payments must be handled in a secure manner.
- Fair Play: Some unscrupulous operators can tweak their games to give themselves an unfair advantage. Regulators are responsible for ensuring that all games are fair and players aren’t ripped off.
- Dispute Resolution: Issues can always come up – maybe it’s a disputed payout after a big win or a game that malfunctions. Since there’s a regulatory authority, you always have a fallback that can act as your mediator.Â
The regulated market offers players safety, and since these companies can advertise locally, they are mostly familiar names like 1xbet – bet football on top matches.
What About Unregulated Markets?
Now, let’s flip the coin. Unregulated markets are where the operators don’t have local operation licenses. Most of them cater to international audiences where gambling is allowed, but some may even operate in countries where it’s not. The latter edges towards the black market, but it doesn’t necessarily define the unregulated market. In most cases, it’s sportsbooks that have licenses in different countries but haven’t acquired a local license.
The lack of a local license means that the operator can’t really advertise locally or offer local payment options. However, these are quickly becoming less of an issue due to the adoption of cryptocurrency in the gambling world. Users can deposit and withdraw their winnings via crypto, negating the need for a local payment processor (and avoiding the government’s watchful eye).
That said, the unregulated market requires a significant amount of caution as it poses several risks. First, there are sportsbooks that operate with the aim of swindling users, and others aren’t reliable in paying out winnings. Since the operator is not licensed locally, you won’t have a mediator who can ensure you get what’s yours.
POGOs vs. Unregulated Operators
In July 2024, President Bongbong Marcos banned Philippine offshore gaming operators (POGOs), renamed Internet gaming licensees (IGLs). However, it’s important to note that these are different from offshore operators.
The former are licensed in the Philippines but used to target users in foreign countries, including where gambling is banned, like in China. The latter are simply international sportsbooks that haven’t acquired local licenses in the Philippines. These aren’t explicitly illegal, so some Philippine betters also use them to take advantage of better odds, crypto payments, or anonymity.
So, Where Should I Bet?
This ultimately depends on what you value. If it’s peace of mind and ease of use, then regulated casinos are the way to go. You’ll be assured of secure transactions, fair games, and an option for escalating payment disputes.
Unregulated markets don’t have a fallback plan, but they can be quite attractive if you are looking for variety and bigger bonuses. However, you need to do proper research before using one to ensure it’s properly licensed and has a track record of being reliable – in payments, transaction times, security, and customer support. You can then start with small deposits as you determine whether the platform is right for you.
