Online casinos forced to become like FairWin

There has been a disturbance in the online casino industry after the UK’s Competition and Markets Authority launched an investigation into “whether online gambling firms are treating their customers fairly.”

The inquiry started after the Gambling Commission made stern warnings about “misleading promotions and unfair terms being used by firms to block players’ payouts.” As some officials claim, such casinos seem to have been created to swindle, not to let the players win.

Rules designed to cheat

Most complaints are connected with excessive wagering requirements applied to bonuses and free spins offered by casinos. These requirements dictate that players have to wager their bonus a whopping 40 times over before they can get any winnings resulting from it. In this situation a player is almost certain to lose all the hard-won money.

As a result, players are bound to play more and more to meet wagering requirements instead of stopping the game and cashing-out, which further provokes gambling addiction.

Not just threats, but action

The CMA’s warnings were accompanied by a number of severe forfeits issued by the Gambling Commission. Bgo Entertainment was fined £300,000 for misleading advertisements; 888 Holdings was fined £7.8m for its inability to treat vulnerable customers correctly; and very recently, Gala Interactive was fined £2.3m for violating regulations aimed at protecting consumers.

Casinos without wagers

A new type of casinos is emerging, casinos which were initially created to be wager-free. Only time will tell if this is only a short-lived tendency or a long-term trend for the industry, but let`s hope that with such government restrictions more and more companies will fall in line.

But as of now players are losing trust in casinos, and so they can be expected to seek out more reliable casinos with fair and transparent terms.

One project of this type of casino that is currently carving its way to the players is the FairWin blockchain platform that offers openness and honesty through the use of smart contracts and the so-called FairChannel, thanks to which players know that game outcome was random and couldn`t be influenced by the operator. Also no wager requirements will ever be made on this platform, so the players can enjoy gambling at its purest form.

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