Both land and online gambling organization is a popular and profitable business model in the global market. However, note it’s required to go through a licensing procedure in order to work in the current industry.
The reason gambling license is required
A license is a document, officially allowing a company to conduct gambling activities legally in certain country, including online casinos, lotteries, bookmakers. The main gambling licensing reasons list includes the ability to legally operate on the state territory as well as to improve the services quality and to earn customers’ trust.
Players around the world are aware of the online casino license verification way I it’s enough just to find the relevant data on the operator’s website. As a rule, they are placed on the bottom panel.
License-based operation benefits
License is required for each gambling activity type. Otherwise, the company will have certain problems with the law. Gambling license is a legal business basis guarantee in the current area.
It worth mentioning the current document will not provide the right to work around the world. It’s required to first carefully learn all legal aspects and laws to be followed in the country to organize a gambling activity in.
A casino license is the key to gaming. Gaming developers cooperate with licensed operators. Each operator provides own cooperation terms. Some developers cooperate with casinos, having got just a few licenses. This means it will be required to communicate with the developers the casino organizer cooperates with during the licensing process.
It’s worth mentioning those players, making large bets, will hardly wish to deal with unlicensed online casinos, since they will fail to be provided with safety guarantees in such a case.
Gambling markets types available
Obtaining a document, authorizing the gambling activity organization, depends on the market type to operate on. Currently there are four main gambling markets regulation types:
- Countries, engaged in monopoly introduction on gambling;
- Countries which prohibit all gambling activity types;
- Countries regulating the gambling institutions operation on own territory;
- Countries which don’t regulate gambling at all.
Gambling licenses types
Online gambling license obtaining is a complicated process, which implies multiple requirements to be followed. Certain governments have created a regulatory framework to facilitate the gambling licensing due rapid gambling industry development.
The current business type must be registered in at least one jurisdiction. The most common territories which online casinos are registered in include Caribbean countries, such as Antigua and Barbuda, Costa Rica, Curaçao, as well as European states and such territories as Malta, Gibraltar and the Isle of Man.
Costa Rica license
Costa Rica has been the main jurisdiction for over 100 gambling companies for many years. This makes it an attractive country for newcomers in online gambling industry. It is still both incredibly popular and effective today at gambling sites which use cryptocurrency. It’s cheap and simple to start such a business in Costa Rica.
Obtaining online gambling license in Curacao is also the best option for most novice businessmen in online excitement field. Curaçao Gaming Control gambling regulator made online gambling one of the main economy sectors. The existing sublicensing opportunities today are available for multiple operators, which makes Curaçao one of the main jurisdictions to launch licensed online gambling business in.
Isle of Man license
The Isle of Man is an ideal jurisdiction for online gambling business serving the EU and Asian markets due to its comprehensive regulatory framework. The Isle of Man is recognized as one of the most authoritative jurisdictions, providing the operators with the world-class infrastructure and services in any online gaming industry direction.
Kahnawake Gaming Commission has been providing the licenses since 1999 while being highly-demanded. Kahnawake Online Gaming License is cheap while the licensing process remains quite simple. Despite this, the current license type covers all gambling at once.
Malta became the first EU member state to provide the most favorable gambling business conditions due to the law adopted in 2000.