WHAT DO I NEED A GAMBLING LICENSE FOR? FEATURES OF OBTAINING
Obtaining a gambling license is one of the main stages when starting an online casino. Online gambling is considered a popular activity today. When planning to start a business as an online casino operator, the costs of starting a business can be quite high, but the business itself can ultimately generate a lot of profit once it gains customer acceptance in the gaming market. Gambling activity, although it is profitable, is strictly regulated by complying with the requirements for obtaining gambling licenses. More info you can read here: https://logincasino.org/
Most investors, especially those new to the gambling business, may not be familiar with all the mandatory rules for obtaining a gambling license. It is important to bear in mind that licenses tend to differ depending on the country chosen and the different types of gambling. That is why you may need the help of qualified specialists and support in choosing a jurisdiction to launch an online gambling business.
What is a gambling license?
A gambling license is a certificate issued by a licensing authority to create a gambling platform that will offer various types of gambling. You can obtain a gambling license by submitting a request to the local regulatory authorities of your chosen jurisdiction. This permission is the main requirement for the cooperation of the gaming platform with payment service providers and for starting a gambling business.
Regulatory requirements for online gambling in different jurisdictions
The legal framework for regulating gambling site management companies differs from country to country, so the process of licensing gambling activities in recognized gambling jurisdictions can itself be cumbersome. In general, the gambling market includes countries that can be divided into the following categories:
- Jurisdictions that govern their online gaming markets.
- Countries that control their own online gambling markets and have a monopoly.
- Countries where gambling is prohibited.
- Jurisdictions that do not regulate their gambling markets.
- Online gaming platforms have been legalized in many countries. If your platform is licensed and game providers are certified by authorized bodies, you can operate in any of those countries. Popular gambling jurisdictions are Curacao, Kahnawake, Malta, Cyprus, UAE, Macau, USA, Gibraltar. The determining factors when choosing a country for registering a company for gambling activities are its reputation, validity period and price of the license, terms of consideration of licensing requests.
Purchasing an online gambling license is a prerequisite for running a legal business. It will also be required for:
- Opening a bank or merchant account to work with electronic payment systems on behalf of a gambling establishment.
- Use of licensed gaming software and content from whitelisted vendors.
- Getting significant results from advertising, and increasing traffic.
- Ensuring and maintaining the casino's status as a reliable and safe casino, and, accordingly, increasing the confidence of the players.
But one should not forget that not all states provide the opportunity to obtain a gambling license. Therefore, the process of obtaining a license for online gambling begins with preparation, namely, with the determination of a suitable country to host the base of the future casino.
Obtaining a gambling license in reputable gambling jurisdictions
For the introduction of a fully autonomous online casino, an important circumstance is obtaining a gambling license. In addition to gaining a good reputation in the global iGaming industry market and gaining trust among players, it is important to obtain a license for an online casino to organize a reliable financial infrastructure and work with more than half of the providers of software and game content.
As mentioned above, each country has different regulations governing online gambling platforms. In many countries, gambling is strictly regulated by both government and non-government organizations to ensure it is safe from fraud. An example would be the regulation of gambling activities in Malta, where applicants go through a rigorous licensing process. Moreover, this country is included in the list of cheap jurisdictions for purchasing a gambling license.
In some countries, for example, when obtaining a gambling license in the USA or Gibraltar, the license price is high and depends on the type of gambling and the structure of the company. Therefore, operators turn to cheaper jurisdictions, such as Curacao, where the procedure for obtaining this type of permit is only 6 weeks. You can send a request to the regulator for a basic license for all types of games or get a sub-license. It is worth noting that local government agencies are developing stricter requirements for obtaining a sub-license for iGaming in Curacao. You can find more interesting online casino news on different sites.