Online Gambling has proven to be an incredibly profitable and popular business model in many countries. Each year, over one hundred are being launched and the government worldwide tries to keep up with their pace by regulating markets.
Gambling License To legally be able to provide online casino services, you need a legitimate gambling license. This license may be provided to you by an iGaming software provider if you choose a white label solution, otherwise, you are required to obtain this license. The process of starting an online casino might take several weeks and even months, but this is a very profitable and solid business model that is worth the time you invest in getting your gaming license. We hope you have a clear idea of everything you need now that you have read this guide on how to get your online casino license. If a temporary casino key employee license with an MCE endorsement is sought, the affiliated casinos may submit an electronic petition form. An MCE endorsement is valid only for the position requested in the petition and at the casinos specified on the license. Gambling regulation acts don't allow you to register your company and receive an online casino license anywhere in the world. While some countries impose a partial restriction on some gambling activities, others ban this type of entertainment completely. Getting a license for online casino can be quite beneficial. It proves that your casino works along with the gambling laws and regulations.
There are several different licenses all over the world right now and both players and governments demand that more casinos should have a valid license. We guide you to licenses for online casino and gambling. Make sure to gamble at trusted sites when playing online.
The Importance of an Online Gambling Licenses
In many countries, online gambling is neither forbidden nor allowed. These markets are called 'grey markets' and if you play in a grey market country there are some risks attached. Obtaining an online gambling license is a very complex process which involves a variety of due diligence requirements which must be fulfilled. New casinos online that have a license are much more safe and secure than casinos that don't have them.
All legal online gambling businesses have at least one license to be considered as a safe online casino. Some licenses are harder to obtain than others. For an example, the UK Gambling Commission is regarded to be the toughest one to get for casinos because of all the requirements. However, there are still casinos without Gamstop that are not connected to the license. If you are a casino player, you can, therefore, feel safe when you are playing at a casino with a UK Gambling Commission license. Other popular licenses are Malta Gaming Authority and Curacao eGaming.
At Casinomir, we only list online casinos with a proper license/licenses and with the best casino bonuses and free spins. This is very important for us, because we only want to list casinos that are totally safe and reliable. Another great thing with casinos that has a license is that all of your winnings are completely tax-free.
Make sure to play casino with the right license for your region
What are the Requirements for an Online License?
In order for a casino to apply for a license, the applicants must go through security and background checks and also procedural and operational practices. The requirements vary from license to license.
This is all in necessary in order to guarantee the legitimacy and fairness of the casino. Some checks include background information, game fairness and 'random number generation guarantee', ethical business practices, tax and financial status, fair employment, criminal background and much more.
In addition to this, the receiver of a license must undergo regular financial and tax auditing and technical tests to ensure everything compiles properly. The aim of this procedure is to continuously improve the quality of security in the online casino industry.
The safety and satisfaction of casino players are the most important thing. From the governments perspective, tax and financial information are very important. Each gambling authority organisation is entrusted by their government to carry out and maintain the licensing process.
Online Gambling Licenses and Services
If you start up your own online casino it is critical that you decide which jurisdiction that you want to belong to. Online casino includes online betting, bingo, casino, fantasy sports, esports, poker and sports betting. What you may consider are the initial licensing costs, ongoing licensing costs, maintenance costs, availability of services and tax-levels and other benefits.
The basic premise of licensing in any country is to improve the quality of the services to online casino players. Security and safety are the two most important factors. To get an approved license may take a very long time, so make sure to send in an application as early as possible. If you have a multilingual casino site it is a huge advantage to have several different licenses so that you can expand to more countries.
In addition to this, almost all banks require that you have a correct casino license before you can open up a bank account. All in all, casino licenses are very important and never play at an online casino that doesn't have a proper license. At this page, you can click on the different licenses that are available and learn more.
How To Get Online Casino License Near Me
Best online casinos are licensed because only the license allows such business to operate legally. The license also showcases that the business is transparent in the things it does. For players, the license means that the website has been tested, accredited, and approved by the regulators. Meaning, that you indeed may win a coin playing, be sure of the righteousness of game settings.
In this article we will tell you how regulators test licensed casinos. In different jurisdictions they require various things to be in check. Despite being differentiated, the gist of them is quite the same all around the globe. There are also instances when the casino is not issued a license. Only those companies that meet all of the conditions are issued a right to indulge players in the entertainment they seek.
How do best licensed casinos acquire the license?
In order to receive the document, a strictly followed procedures should be executed, rules followed without an exception. However, before asking for being licensed, the casino should first meet some prerequisites.
Having studied some casino platforms, you may see that many have several licenses, active in various territories. This is made for the companies to be able to have their services in various countries with minimum restrictions. Most of the time, having one license allows to easier obtain another one.
In its essence, the evaluation is more of the company that runs the casino, not the website itself.
Legitimacy of the company to manage a gambling resource
The applicant will have to pass a few tests that relate to the owners of the company. The regulator does an extensive research to be sure that the company and its owners do have any troubles with the law.
This is the stage where statute, documents of the board of directors, shareholders are checked. The procedure is so serious that it may even require a dactyloscopy of the owners.
Feasibility of the business plan
Business plan must include:
- aims of operations
- company's structure
- business model
- Software to control the games
- Long-term business plan with marketing, sales, and full financial forecasts.
If the company has another gaming license, it must be shown to the regulators.
Technical check of casino
The exact list of all of the technical aspects depend on the regulator. Most of the time these are the things they are monitoring:
- Domain documents
- Quality certificates
- Contracts with software suppliers
- Diagram of a physical placement of the servers
- Info about business activity
- Control system
- SSL
- Antivirus soft
- Data storage systems
- Technical support
- Rules and procedures of playing games
Contracts with agents and partners are also given, if there are any.
The given audit may last anywhere from 2 weeks to 4 months. It is said that if the company passes this stage, it will definitely receive the license as it has the all of the necessary technical, physical, and legal prerequisites.
Only the best licensed casinos are able to pass this from the first time. Then, there are 2 other steps that follow, being, in their essence, the last stances of approbation and launch of the business. They usually take up to 60 days.
Technical checks before the launch
After the fact that the regulator is happy with the documents, the owners of the future website have 60 days to launch it.
In this time frame, the website should be working without any critical errors.
After those 60 days, the regulator checks the following:
- Registration process, logging in and out
- Game launch
- Customer support
- Payment systems
- Financial transactions within the site
After finishing these steps, the regulators gives the website its license. However, this is not the end of it.
Independent testing from the 3rd party
As many regulators are worried about their reputation, newly licensed casinos are taken to an independent 3rd party verification.
The regulator chooses the latter body by themselves. This independent company checks the business from scratch once again, not considering the results of the previous, initial testing. However, it all takes just several weeks.
Time and Costs
As you can see, before the start of the operations, licensed casinos go thorough a long and tedious testing from quite a few bodies. Each step has its price. Even the application itself may cost several hundred or even thousands euro. The full procedure will cost a minimum of 25 thousand. European jurisdiction have a much higher price: 30-50 thousand.
How To Get Online Casino License
If on any of the steps the company has failed, they will have to redo everything, including paying one more time.
All in all, the companies spend tones of money, time and effort, to bring its customers righteous, licensed services. Supporting the business takes an impressive coin from the annual budget as well.
Conclusion: choose only the best licensed casinos
Licensed online casinos are 100% safe. In short, regulators have made your life easier by checking whether the website won't fool you instead of yourself. Having a truthful license information including the regulator is that little thing that give the players that extra reassurance.
If you choose licensed online casinos, this means that all of the games are from official, regulated developers, the payment methods are transparent and you will get your money won for sure. The website is monitored by the respective organizations that may be tuned to in case of a fishy situation.
Not one casino without a license may guarantee you a fair play or payments. Online casino sites without license are short-term living, aiming for taking advantage of naive players.
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