Blog Posted on 09/08/2014 | Author: Karen Macarthur
Understanding How Casino Auditing Works
The online Mobile gaming industry is overwhelmed with various types of betting options. Including slots, Roulettes, lotteries, Bingo, live dealers, there is plenty of scope for fraud, embezzlement and theft. Only with a correct Mobile Casino Auditing process in place will both the players and the casinos enjoy the profits.
Casino Auditing is a highly regulated process, proposes strict license requirements, control of operations. It should also be applied over the various jurisdictions. Vegas Mobile Casino helps you understand this concept with the following blog.
Facts about Mobile Casino Auditing
While most of the online casinos are trustworthy and reliable, there may be some who are frauds. Determining who they are is a cumbersome and lengthy task due to the mushrooming number of casino sites each day. But help is at hand as there are several independent organizations who act as the Casino Police. These Casino Auditing companies ensure that the players online gambling is a pleasurable one.
The primary function of these Casino Auditing companies is to conduct a thorough operational, financial, and IT reviews. They identify the best casino practices which are cost saving. They act as a mediator to sort out any disputes or issues between the players and casinos. Additionally they assist in fraud investigations, help external auditors and are involved in special projects.
Some of the reputable and well known Casino Auditing organisations are the eCOGRA (e-Commerce Online Gaming Regulation and Assurance), CFG (Certified Fairness Gambling), OPA (Online player’s Association) among others. A casino which receives their seal of approval is an assurance to the players of the casino’s fair gaming. This certificate is renewed every month.
What is the basis for Casino Auditing?
Running a casino is big business with both gambling and non gambling activities taking place. The gambling activities include offering different casino games, its promotions and other activities. The non gambling activity is mainly considered by the management and administrative work aspects. Because a lot of cash is involved with deposits and withdrawals being made, the main focus is on the Casino Auditing process. A simple mistake with the payouts and financial reports is a loss of face and reputation for the casinos.
The Casino Auditing process should be independent, transparent and help form an unbiased opinion of the records, gaming operation and other information / documents of the casinos.
There is the question of integrity when Casino Audit is in performed. Whether it is an independent company or the individual auditor, they should be known for their trust and honesty. Their past accuracy and statements should be impeccable and pass scrutiny. Whenever subjected to counter allegations or re-examination, they should be able to support with facts and figures.
Mobile Casino Auditing Process
The overall Casino Audit activities which these organisations perform are around the auditing environment, risks, testing approach used in the casino gaming industry.
Ideally the Auditing Process involves the following activities:
- Adequate surveillance of all the casino activities including the personnel
- Proper paper trail and records of all the financial transactions (deposits, withdrawals, payouts etc.)
- Prompt and fair payouts
- Regular and periodic quality checks on the casino software
- Reviews of all the IT systems to ensure all information is secure and safe
- Review of all the tax related process and procedures
- Check the casino personnel’s knowledge of the various transaction procedures
- Verify that the steps and procedures are followed when submitting a complaint
At Vegas Mobile Casino the Casino Auditing process is taken seriously and is subjected to this action to comply with the set standards and rules. Considering that players safety and security is our top priority, the regular audit reports are an assurance of our quality of service and trust.