If you are to play in online casinos, your first priority is to check that the casino i question has a valid licence to operate.
The online casino gaming industry is going through the incorporation of creative and dynamic technologies. It will see rapid growth in the near future. In addition, the online gaming industry is popular with all demographics and is considered to be a profitable business model. If a casino has an online gaming licence, it permits them to partake in the following activities:
An online gaming licence is essential when setting up an online gambling business. It regulates the online casino gaming world and protects both the customers and operators from any kind of fraudulent activities. We will discuss here in this article the best online casino gaming licence providers.
The Malta Gaming Authority
Malta is considered the gold standard of iGaming licensing. This authority has been issuing licences and regulating gaming since 2000. The significant benefits of acquiring a Malta licence are:
- Operating in EU jurisdiction.
- Favourable tax benefits, as low as 5%.
- Makes business easier with payment providers and banks.
Apart from the benefits mentioned above, the primary use is holding the prestigious Malta licence. It provides two types of licences:
- A B2B licence.
- A B2C licence for gaming operators allows them to operate an online gaming platform with a wide range of luck-based and skill games.
Curacao eGaming provides the most cost-effective, quickest, and hassle-free licensing process. For those who want to go live quickly and, at the same time, not invest a considerable amount of capital, this licence is the best option to choose. The Curacao license has a good reputation for being trustworthy and responsible. Undoubtedly, one of the best parts of acquiring this gambling licence is that the operators are not liable for tax on their revenue.
Kahnawake gaming licence
Since 1999 Kahnawake has been considered to be one of the most highly respected jurisdictions providing high standards of ethical gambling. It imposes fair and responsible gaming practices. It monitors and supervises its licensees, and that in turn provides a high level of protection to the players. The administration of Kahnawake increases confidence in business partners, allows a broader range of payment methods, and accesses more markets. Also, the cost involved in applying for this licence is relatively low, and holders do not incur any gaming tax.
Isle of Man gaming licence
The Isle of Man is the first to provide an online casino gaming license in Europe in the year 2001. The licensing jurisdiction is well-respected, strict, and reactive, as well as adhering to a high quality of professional ethics. Furthermore, it allows the licensees to enjoy a low gaming tax from 1.5% to 0.1% yield and 0% corporate tax on gaming. This jurisdiction provides a relatively straightforward process for license application which is beneficial for the licensees.
How to get a gambling licence
Here are a few steps you need to take for acquiring a license from the Gambling Commission:
- First, inquire about available licences and choose accordingly.
- Fill up the application form with essential documents that include personal details, proof of business plan, capital, details of the bank account, policies and procedures, terms and conditions, etc.
- Pay the application fee and wait for the processing.
- Lastly, receive your licence and start your online casino gaming platform. Along with these, make sure to pay the annual fee after receiving the licence.