I am in no way using this definition right now, I am using the definition you provided (established businesses) and I generally use it interchangeably with “licensed”, because to operate you need at least a license.

So it’s not a tautology.

There are enough illegitimate online casinos to create a problem for the whole industry.

Incorrect. Also creating a problem for is not defining the industry itself. There are phishing bank sites to create a problem for the banking industry, but only an idiot would answer “they steal your identity/card details” to the question “why are online banks bad”.

They don’t have enough users so they need to squeeze their regular punters harder.

Incorrect. You forgot to address “how”. I will also add another item to the “you have no idea what you are talking about”. Players losing is a sure way to lose even more customers. In fact if you knew something about the industry you would know that new companies operate on much lower margins that established ones. Bet365 might operate on a 7-9% margin, a new company operates on 1,2,3%. The idea that squeezing more existing customers, besides being technically impossible, is absurd. It’s a huge business risk (you lose your license and then you will have 0 customers).

Even your beloved “legitimate” casinos do “rig” games by offering different odds at different times to different people.

First, I don’t like casinos, despite having worked for one, I have played on less sites than you did. I like even less bullshit though, hence my pleasure in clearing the world from yours. Second, that is not rigging at all. You know it, I know it, it is absolutely not what you meant, and I am embarrassed for you for trying to use this terrible rethorical trick to now bend the word rigging. Rigging means that you expect the odds to win are X but instead behind the scene are Y (