The online casino industry is undoubtedly a lucrative one that continues to appeal to both players and investors all over the world. Online slots are only some of the many games which have attracted players hoping to win big and claim their share of a billion-dollar industry. In fact, it’s widely reported that the global online casino industry is worth more than $60 billion, which is expected to continue on an upward trajectory in years to come.
Why Independent Audits Are Crucial for Online Casino Websites
Considering how lucrative the industry is it should come as no surprise that it has drawn the attention of some pretty unscrupulous people who hope to profit unlawfully from the popularity of online casinos. This has highlighted the importance of independent audits for online casino websites. Now, more than ever, it’s become important for casino industry checks and regulators to be visible and active. Online casino auditors are at the forefront of ensuring that certain standards and criteria are met by registered casinos, most of which are designed to guarantee players that they or their money will not be scammed in the process.
In a nutshell, independent audits are necessary to verify the quality and fairness of an online casino’s operations. Given the rich and interesting history of casinos and gambling, it’s no surprise that there’ve been several jaw-dropping moments that necessitated the regulation and auditing of the industry!
What Is an auditor?
An auditor conducts audits or checks against industry guidelines. In the case of online casinos, an auditor is typically tasked with verifying that the operations of the casino are in line with the law and do not take advantage of players.
What Do Auditors Do?
For those who may be wondering how to become an auditor, perhaps a better picture will emerge from understanding the different roles of an online casino. Although this role is multifaceted, it basically involves the following.
Confirming That Player Deposits Are Safe
When playing at an online casino, you can only proceed and place wagers for as long as you have sufficient funds in your account. Because you’re allowed to access and use your deposit over time, you’re not obligated in any way to immediately use the funds you deposit. This means that the remainder of your deposit will be kept in your account. This element of safekeeping is what online auditors have to verify by confirming that the casino does indeed have sufficient funds in its account to cover all the player deposits. Ideally, the casino should keep the player deposits separately from its own operating funds so as to avoid the possibility of dipping into the player deposits at any point in time.
Online auditors can perform random checks to make sure that the casino is operating as it should.
Testing Random Number Generators (RNGs)
A key component of online gambling is RNGs, which ensure that the outcomes are not rigged or that they become regular or predictable during gameplay. RNGs can be best described as online software that is integral to online casinos because it randomizes numbers and sequences. Online casino auditors ensure that casinos use RNGs that are functioning well and do not compromise the quality and fairness of games.
When it comes to live dealer casinos and games, fairness is just as important. In fact, it’s also one of the main reasons why casinos change dealers often. This is typically done to avoid player and dealer familiarity and prevent the overall predictability of the games. In short, the shuffle is as important to brick-and-mortar casinos as RNGs are to online casinos.
Verifying Average Payouts
Online gambling slots, and casino games in general, typically have a particular payout that is advertised and associated with it. This shows how much is paid out compared to the wagers, providing a picture of how successful previous players have been at the game. The payout percentages are also indicative of the house edge: the lower the house edge, the better the chances of players walking away with a win. Online casino auditors have to ensure that payouts advertised and associated with games offered at the online casino are indeed true.
This is done to avoid potentially blindfolding players into a game that they think has a low house edge only to discover that this is far from the truth!
Enjoy a Variety of Online Casino Games at BetMGM
While several platforms may offer online casino games for you to explore, BetMGM is arguably one of the best. Not only are you spoilt for choice with our selection of online slots, casino table games and live dealer games to choose from, but you can also rest assured that it’s a reputable and trusted online casino. With that in mind, there’s no reason why you shouldn’t try your hand at the thrilling games available to you. Enjoy both classic and modern casino games when you register at BetMGM.