I like to make my own personal comments on this topic, which many others may disagree with, but that's each individual opinion.
Many would regard an unlicensed casino as totally unsafe, unworthy, unreliable and should be avoided at all cost. Yes, this is true for almost every online casino in the market, but certainly not always true for certain online casinos operating offshore for Malaysian and Singaporean markets.
There are very specific and very strict gambling restrictions imposed by these 2 countries, so getting a license from other licensing Authorities can be prohibitive or even impossible!
Take my top favourite local UNLICENSED Malaysian casino for example (no need to mention its name) - I've been playing there REGULARLY for over 6 years, I have NEVER encountered any problems or issues with my deposits, bonuses or withdrawals, the Live Chat is available 24/7 and the hosts are always very friendly and helpful, giving fast services all the time. Withdrawals are always paid in under 10 minutes into my bank account, but large amounts may take a little bit longer for thorough checking by the casino. The casino only accepts players from Malaysia and Singapore, so it is really a dedicated casino for us local players!
In all my 25 years of playing at hundreds of international casinos, not even one of them come close to being as safe, reliable and trustworthy as my one Asian casino! And yes, it is an UNLICENSED casino - not because it is a scamming casino but purely because it is PROHIBITED from getting a license!