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Online Casino Conditions >>> Betting News >>> May '07 News


Total Online Gaming Transaction Review Approved in Gibraltar

by Sheri Smith, News Staff
Writer      Bookmark with del.icio.us
May 20, 2007
 

Online casinos seem to be fighting an uphill battle in some circles when it comes to achieving the mainstream status the industry needs and deserves in order to offer safe and quality gaming services. Luckily, in several countries the online casino industry is becoming more widely accepted and thereby more efficiently regulated - given a higher standard in online casino gambling as a whole.

Up until recently, much of the regulation in the online casino industry was by the casinos themselves, primarily in hopes of achieving player trust and boosting the number of long term committed players. This is a good portion of regulation - the self-management practices inspired by the inherent nature of free trade. However, the trust instilled by assurance of quality via impartial, third party regulators is exactly what the online casino industry is wanting to now promote.

This is why eCOGRA's approval by the Minister of Gambling of the Government of Gibraltar is such a positive development for an online gambling industry striving to prosper in the regulated mainstream. eCOGRA, which stands for eCommerce and Online Gambling Regulation Assurance, has applied experienced specialists with a total of eighteen years of data verification experience toward its new high profile TGTR program, which is a Total Gaming Transaction Review which eCOGRA approved casinos submit themselves to in order to accurately have their data continuously analyzed, such as payout percentages and the fairness of their random number generation. TGTR has been accepted by the Gibraltar gaming and casino authorities after in-depth review and assessment.

eCOGRA is an independent regulator which has the beneficial position of not being directly affiliated with any particular government. Their hopes remain to be a provider of unpartisan regulation of online gambling in order to protect players and raise the bar in this fast growing industry. This is done by providing a service to online casinos that they can, in turn, use to attract and assure players with their eCOGRA approved and trustworthy practices. eCOGRA's service includes placing standards on the casino software and gaming experience itself, the accuracy and fairness of RNG reports and payout percentage, and annual audits open to the public containing the casinos stats and standard of business throughout the year. All of these reviews are completed in a universal fashion facilitating up to fourteen different languages.

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