Licensing is the first requirement for any newly established online casino. For a casino to be legitimate and successful, it must be licensed by a reputable gambling authority. Licensing allows a casino to be trusted by players with their money and without a license, major payment methods like Mastercard or Visa, etc. cannot be used to accept payments from the players. Read on to find how you can get Different Casino Licenses.
There are various requirements that a casino operator needs to fulfill before he or she can obtain a license. Read on as we take a look at these requirements, the different casino licenses available, and how you can get them for your casino.
Before a license is issued to a casino operator, there are usually a couple of mandatory security procedures that each candidate has to go through. These include:
- Verification of Personal Information
- Background Checking
- Status of Taxation
- Personal Finances
- Any Criminal History, etc.
Aside from these initial tests for check and balance on the people applying for a casino license, there are several audits and other requirements that a casino operator has to fulfill on a regular basis. This is done to make sure that the operations of the casino are completely compliant with the law and there are no illegalities anywhere.
United Kingdom License
The United Kingdom Gambling Commission (UKGC) issues licenses to applicants after a thorough procedure to ensure legality. There are multiple types of different casino licenses depending on the kind of games and remote betting options you choose to offer at your casino.
The yearly licensing fee is calculated as a percentage of the total yield of the casino in terms of gambling revenue and can cost more than the Non-UK Casino Websites.
The gambling authority of Malta provides two to four different types of five-year licenses to casino operators. Mostly these licenses grant operators the opportunity to conduct their business with British citizens as well.
The procedure is fairly straightforward – applicants submit their application which is reviewed for three to four weeks, after which a six-month license is issued. During these six months, the casino is subjected to thorough investigations to ensure everything is compliant with the law and upon confirmation, a longer five-year license is granted.
The gambling authority of Curaçao offers two types of different casino licenses operators. These include a Sublicense, which is what most of the casinos in Curaçao are awarded, and a Master License which is only held by four casinos in Curaçao.
A tax of 2 percent is charged per year against the casino earnings for all licensed casinos. Yearly financial and personal audits are conducted to make sure that no illegalities are present.
Jersey is one of the most popular places for online casinos owing to the lower licensing costs and relatively simple licensing procedure.
Before becoming eligible to hold a license issued by this island’s gambling authority, applicants must fulfill a series of certification requirements from the top software companies in the business.
Jersey issues five-year licenses to all accepted applicants. Multiple payment options are available to casinos including cryptocurrency like Bitcoin, etc. You can learn more about free Bitcoin mining without investment on this website.