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Types of licenses for online casinos

Types of licenses for online casinos

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In order for an online casino to operate successfully and legally, it is necessary to obtain a license. Without it, the operator will not be able to open a bank account or operate its video slots and table games, as gaming software manufacturers cannot cooperate without a license. In addition, this license offers many advantages, such as tax benefits.

Although getting a license does not mean that all countries are ready to accept a new operator, many countries, such as the United States, Poland and France, prohibit online casino operators completely or partially from operating in their territory. Fortunately, this is beginning to change in the United States, as more and more states are realizing the potential benefits of licensing these gambling providers. Due to recent changes in the law, it is now up to each state to decide whether or not they will legalize online casinos. To date, more than 15 states have made this possible by creating local gambling boards that keep them in check.

Despite this, the rules governing gambling are constantly changing, and it is likely that a country that previously had a large number of casinos may adopt rules banning them in the future. Before 2017, Australia was known as home to some of the most passionate gamblers on the planet: according to the Australasian gaming expo 2018, about $8 billion was spent annually on betting activities. Most of that money went overseas to foreign casinos instead of being reinvested in the local economy. The Interactive Gambling Amendment Act of 2017 made it illegal for foreign operators to operate without an Australian license, causing many to leave Australia.

Licenses increase players' confidence in online casinos and relieve any concerns about slots with altered odds or non-payment of large prizes, as the random number generator will be regularly checked and certified as compliant. In most cases, casino license information is located in the footer of their website, so experienced players who enter an unfamiliar casino for the first time will often immediately scroll down the page to see who issued it.

The dilemma for online gambling operators is finding a reliable jurisdiction whose certificates are accepted in different countries. Currently, there is not much choice, and the owners of these companies are more likely to be licensed in one of the countries or regions listed here.

Curacao

The Caribbean Sea is home to this tiny island, which offers various advantages, such as zero taxes on casino profits, fast processing time (usually 1.5-2 months) and minimal operating costs. For those who own an online casino, Curaçao is the ideal location for computing (server) facilities. A large part of Curacao's budget comes from the Internet gambling industry, so its casino tax system is very profitable; companies only have to pay 2% corporate tax and they can get the general license they want for no more than $150,000, which allows them to provide all kinds of services. from games.

Types of licenses for online casinos, изображение №1

 

Types of Curacao licenses:

  1. Cyberluck Curacao N.V. (Curacao-eGaming) #1668/JAZ;This license must open at - verification.curacao-egaming.com
  1. Gaming Curacao (GC) #365/JAZ;This license must be open at - licensing.gaming-curacao.com
  1. Antillephone NV #8048/JAZ;This license must be open at -validator.antillephone.com

Regardless of the website, the verification process is consistent. Go to the bottom of the page and you will see a selection of license validation icons; clicking on them will take you to the open license page.

Kanawake

Canada is known for its liberal approach to gambling regulation. In 1996, the Kahnawake Gaming Commission was created, which is responsible for issuing licenses for online casinos. It offers a total of four categories of licenses. Those who want to provide interactive betting services (i.e., web casinos) within the country must obtain customer provider approval, which requires an initial license fee of $40,000, a $15,000 technical software review fee, and a $10,000 annual license renewal.

Types of licenses for online casinos, изображение №2

 

Malta

The Maltese gambling authority issues two different licenses - b2b and b2c - for a period of five years. Operators who receive one of these permits from the Maltese regulator are whitelisted by the British Gambling Regulatory Authority, which allows online casinos to provide their services to UK citizens. Casino operators must comply with certain conditions, such as filing financial documents, securing customer data and developing a responsible gambling policy.

Types of licenses for online casinos, изображение №3

 

The licensing procedure consists of several stages: the board considers the application within 3-4 weeks, after which the online casino receives a preliminary approval for 6 months. Then, depending on the results of intensive examination, a gaming license is issued, which is valid for 5 years. Under the new tax rules that came into effect on January 1, 2018, online casinos with a "b2c - type 1 gaming services" permit (slot machines, table games, live dealer games) pay an annual tax rate of 0.55% to 1.25% (depending on income). If their annual income is below 3,000,000 euros, they must pay 1.25%, up to 4,500,000 euros 1%, up to 5,000,000 euros 0.85%, up to 7,500,000 euros 0.70% and finally up to 10,000,000 euros 0.

Gibraltar

In order to obtain a Gibraltar permit, the owner of an online gambling house must demonstrate financial strength, present a strategy and be prepared to carry out financial transactions (payment of winnings, management of players' credit card information) only through banks located in Gibraltar. Licensees pay 1% of gross income, but not less than £85,000 per year.

Types of licenses for online casinos, изображение №4

 

UK Gambling Commission

One of the largest gambling regulators on the planet, the UK Gambling Commission, requires applicants to provide a range of information in order to obtain a license. These include a business plan, proof of financial stability and security, criminal background checks, and other information. In addition, remote casino license holders are required to pay taxes ranging from 15% to 50% of their total income. In addition, they must pay a permit fee, which has increased by 55% since October 1, 2021.

Alderney Gambling Control Commission

The Alderney Gambling Control Commission was established in May 2000 to monitor all types of gambling in Alderney and to ensure that online betting activities remain legal and pose no risk to vulnerable groups. When applying, applicants must provide appropriate documentation and make initial deposits for internal control checks. These amounts range from £5,000 to £10,000. The cost of a Category 1 online gambling license is £17,500; the renewal fee is £35,000. Please note that these figures may vary depending on gross income, previous licenses or other aspects.

In addition to the regions discussed, online casino owners can obtain a license from the Gambling Commission of the United Kingdom, Alderney, Macau, Belgium, Denmark, the Isle of Man and some other countries. Obtaining such a license will allow the gambling operator to operate within the legal framework and attract customers in an environment of full transparency, safe financial transactions and fair play. The acquisition of a license is converted into user loyalty. A gambler in a licensed casino is sure that any spin on the slots or any round in blackjack is subject to an unbiased random number generator; everything depends on luck, where there is no room for cheating or manipulation in the settings of the gaming software.

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