If a gambling company wants to have many clients, it should be trustworthy. In this case, it is necessary to get a license. There are several places in the world where it is possible to do. The license’s existence makes the business legal. Such casinos have many clients and partners, they can develop faster. That is true in both cases: with online and land-based casinos. So, it is necessary to know more about a gambling license and the way of its getting.
What does a gambling license give?
The license is necessary to be a trustworthy organization because customers often do research before choosing the platform. Moreover, it gives the following perks:
- feature to purchase software from the most famous manufacturers;
- many financial partners with modern technologies to save clients’ money and make transactions secure;
- legal work and that is important for many gamblers;
- feature to propose some promotions together with partners.
So, it is better to choose the license and write down its data on the official website. It will help users check the information to make sure that the license is valid.
Rules and regulations
The gambling sphere is regulated by national and international law. A company should follow them to get a feature to be licensed. The demands vary that is why it is necessary to study the demands of the current operator. For instance, if a casino wants to be licensed in Curacao, it is necessary to follow the requirements of the regulator.
The rules and their number can vary. So, these are for Curacao:
- operator’s liability to follow the policy of preventing a gambling addiction;
- showing the logo of a licensed operator;
- RNG certification.
Malta rules are others, and it is necessary to study them.
Enforcement
Casinos have to follow international law and some rules to protect customers and partners. Moreover, it helps to keep high standards of services. In this case, casinos have to guarantee transparency in their work. The enforcement includes the following:
- financial sanctions;
- formal enforcement;
- criminal enforcement.
Companies that do not follow the license demands will be punished by high fines. In some cases, it can be imprisonment. Every case is considered in a separate order.
Gaming Control Boards
There is a structure at the national level that regulates gambling in the current country. The name of the structure can vary but its mission is to regulate the work of all casinos and the unification of the law. The structures are Gaming control boards. Their names can vary but their duty is to control casinos activity and solve some disputable questions that concern licensed companies.
These Gaming control boards should also solve some disputable questions about gaming that can be between a customer and a house. This is a kind of arbitration judge, whose decision is binding.
Famous world gambling jurisdictions
Casino owners can choose the regulator for the license obtaining. These are the following:
- Curacao. It is one of the most popular regulators due to low requirements for online operators. Curacao’s eGaming license is focused on one-for-one licenses. They let to propose to customers different gambling games, sports bets, bingo, and so on. The casino owner should follow the rules of the regulatory body, guarantee fair play, and secure payments. The regulator can check casinos periodically. It is focused on financial documentation, random number generators, and suppliers.
- MGA (Malta Gaming Authority) was launched in 2001. The jurisdiction is popular among European casinos. According to our German colleague Jürgen Meier, casino expert of the project Casinospot DE, today in Germany, one of the most popular is the MGA casino. Players consider online casinos with this license the most serious.
- Alderney Commission. The regulatory structure was launched in 2000. It is located in the State of Alderney. Its mission is to check casinos and protect its customers. It’s important to guarantee fair play and to follow the rules. The structure has high fines for breaking rules that’s why clubs should strictly follow them.
- Isle of Man Commission. It is one of the first structures that was launched in 1962. It gives licenses to land-based and online casinos. The structure is located on Man Island. It is crucial to guarantee fair play and the absence of criminals in the gambling sphere. Moreover, casinos should not let children play gambling games.
- Gibraltar Authority was launched in 200 The structure can give licenses to online casinos only. Its duty is to check the fair play, the following of the rules of withdrawal, and the operator’s rules.
- Kahnawake Gaming Commission. The structure cannot give licenses to any casinos, its duty is to work with gambling companies that are located on the territory from the Mohawk territory of Kahnawake. These are almost land-based companies. So, the structure has access to the Canadian market. There are four licenses that regulate different games. The Gambling Commission was launched in 199.
- The UK Gambling Commission. It is the greatest regulatory institution with many branches. It is perfect for any type of gambling company and there are always a lot of applications for licenses. It was launched in 2005 to control all existing gambling types that are focused on British people. The regulator checks casinos and regulates different aspects, including access to kids, money laundering, guarantees fair play, and security of transactions and any activity.
Companies can contact any regulator to get a license. It is better to read the rules and requirements to understand where is easier to get a license.
The process of getting a license
License is necessary. The gambling sphere has a lot of competitors and companies should fight for clients. The problem is that some countries do not let citizens play gambling games at all. So, it is better to get a license to make customers sure that the business is legal and follows international law. Moreover, the license’s existence proves that the current club provides fair play.
There are different requirements for gambling companies in different nations. That is why the clubs’ administration should take it into account and follow the national law too. According to the practice, it is easier to get a license in Curacao. The commission is focused basically on online clubs and its requirements are rather low. So, the chance to achieve the goal is rather high.
It is necessary to do the following:
- Create a company in Curacao.
- Satisfy the commission’s requirements.
- Give the application.
- Get the license.
Obtaining license assistance
There are special companies that are ready to help with the license obtaining. They know the rules and can help to choose the best regulator in the current situation. Specialists are ready to help in the application writing in accordance with the internal rules of the current commission. They will also ask any questions. Sure, this assistance is not free, the cost depends on a number of factors and it is better to clarify it with the company’s specialists.
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