Online gambling is a popular and profitable business model in the global market. However, in order to work in this industry legally, an online casino must go through a strict licensing procedure. Otherwise, it will be illegal and unsafe. As a player, you should, first of all, pay attention to the availability of a gambling license and the regulatory body that has issued the document.
Gambling License: What Is It for?
It is a document that officially authorizes a company to legally conduct gambling activities in the territory of a particular country. Among the main reasons for licensing, gambling in any form is not only the ability to legally operate in a particular country but also to improve the quality of services and protect customer interests.
Many players know how to check an online casino license. To do this, it is enough to find the relevant data on the operator’s website. As a rule, they are located on the bottom panel. Take into account that casinos not on Gamstop are licensed as well. Their main distinctive feature is that the gambling license is issued by a regulatory body different from the UKGC.
What Are the Advantages of Gambling at a Licensed Casino?
Obtaining a license is a mandatory process for any casino. Otherwise, the company will face problems with the law. It is a guarantee that a casino is legal and safe.
The casino license is the key to the games. The best gambling developers work with licensed operators, each of which has its own terms of cooperation. For example, some developers work with casinos that only have certain licenses; others may offer already official games.
According to industry standards, a business must be registered in at least one jurisdiction. The most common jurisdictions in which online casinos are registered are as follows:
- The Caribbean countries, such as Antigua and Barbuda, Costa Rica, Curacao;
- European countries and territories, such as Malta, Gibraltar, and the Isle of Man.
Costa Rica has been the primary jurisdiction for over 100 gambling companies over the years. It is still incredibly popular and effective today with gambling sites that use cryptocurrencies.
Obtaining a license for online gambling in Curacao is also a good option for most aspiring Internet gambling businessmen. The gambling regulator – Curaçao Gaming Control – has made online gambling one of the main sectors of the state economy. Sublicensing opportunities that exist today are affordable to many operators, making Curacao one of the top jurisdictions for launching licensed online gambling businesses.
Isle of Man
The Isle of Man is an ideal jurisdiction for establishing an 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 established jurisdictions offering world-class infrastructure and services to operators in the online gaming industry of all directions.
The Kahnawake Gambling Commission has been licensing gambling companies since 1999 and is in high demand. This type of license covers all types of gambling at once.
With a law passed in 2000, Malta became the first EU member state to provide the most favourable conditions for running a gambling business.