It’s time to talk about transparency….because, frankly, that’s what transparency is. Our hope is that by talking about it, we can raise awareness about the need for greater transparency in the online gambling industry, and that all internet gamblers – novices and pro’s alike – will settle for nothing less than the highest standards of transparency exhibited by online casinos.

Before we talk about what these standards are, let’s take a closer look at transparency in general. Again, the act of which signifies the meaning of the word! Hint, hint: Always take a closer look before playing at just any internet betting site.

By definition, transparency is the “visibility or accessibility of information, especially concerning business practices”. Etymologically speaking, the root of the word is tied to the properties of light transmission and how objects that are lying beyond such light transmission are seen clearly. Transparency is about bringing things into the light. So, when we talk about a transparent online casino, we are talking about an operation  that isn’t hiding anything from the light, so that you (that which lies  beyond the transmission of said light) are not left in the dark and can’t see what’s really going on.

What’s that you say!? Why would an online casino ever want to hide anything from players? This probably goes without saying, but while this can be for a number of reasons (proprietary software source code is not something that should be openly shared), we can all probably agree that the main reason (at least as far as dishonest online casinos go) is so they can get away with cheating players. Yes it’s true that the House always wins in the end when all player’s wagers are combined. And while the odds are indeed stacked in favor of the casino, just how much they are stacked is something that is supposed to be regulated by independent bodies.

This is why you will always read in our reviews where an online casino is licensed and regulated. Now, this brings up an important point. Notice we said licensed and regulated. Truth be told, when an online casino is regulated, this inherently means they are licensed. However, just because a casino is licensed doesn’t mean they are regulated. For example, in the US gaming sector there are many online casinos boasting a license in Costa Rica. Well, guess that? Said gaming license is actually a general business license, which all businesses operating in Costa Rica must have. No regulation is actually taking place.

We’re not saying that every online casino based out of Costa Rica shouldn’t be trusted. The truth of the matter is that many US friendly casinos are based out of here simply because it’s a nice tax haven for the gaming business (not to mention a pretty nice place to set up an office). However, we will say that when an online casino is based out of Costa Rica, it’s important they are exhibiting self-imposed transparency.

Whether this is a clearly stated bonus policy, withdrawal and depositing terms, availability of customer service (never settle for anything less), the most important aspect of transparency at online casinos are whether or not they are being audited and sharing these audits, i.e. payout percentage reports. You’ve most likely heard of these, but if not, they are simply monthly audits of the money that comes in and out of an online casino. Comprehensive reports often break down percentages on a game-by-game basis (online slots payouts, blackjack, video poker and table games), and should always be prepared by an independent, third party. Needless to say, said third party should be a recognized firm proficient and experienced in the iGaming realm. iGaming Associates, Price Waterhouse Coopers, eCOGRA, CFG and TST are a few of the more recognized parties.

The most transparent of online casinos (such as eCOGRA certified sites) are required to post monthly payout reports for players to peruse. Let’s just say that if you’re seeing numbers in the 80′s percentile, then you should think twice about playing there. The best online casinos offers payouts in the mid-to-upper 90′s percentile. In effect, payout reports not only keep online casinos fair, they press them to offer the most competitive odds possible.

So then, if an online casino does not willingly publish its payout reports, it begs the question, “What are they hiding?”. And if they are not willing to provide a certified report upon request, well then, let’s just say that something probably doesn’t smell right. In fact, you shouldn’t even think twice about playing at an online casino that will not divulge a certified payout report. Don’t be fooled by a lone software RNG certification either. While these certainly hold merit, by itself a software RNG certification simply means that the software platform offers inherently fair odds. It doesn’t mean that a casino employee hasn’t hacked the backend and tweaked the odds even more to the casino’s advantage.

Remember Full Tilt Poker? If not, do a Web search for “Full Tilt cheating scandal”. And if there is anything you should take away from this article… always, always, always do a search for payout reports, and demand nothing less than the highest standards of online gambling transparency.