There are many sites on the Internet, which present reliable casino resources. Their reliability is formed based on the joint opinion of the administration of the gambling resource and its visitors. Also, although each website has its rating of reliable online casinos, they still have a common characteristic - a license. The license is an officially approved permission to carry out gambling activities under the laws of the jurisdiction where it was obtained. The holder of this license is required to comply with a long list of requirements presented by the regulatory authorities. Despite such severe conditions, almost all newly created online casinos legalize their activities first. That is because it would seem a simple piece of paper, but it gives the license holder a large number of advantages:
- Credibility in the eyes of customers
- Creating a reputation of a reliable online casino
- The operator becomes a participant in legal relations with the state
- The prospect and opportunities for partnership with reputable
Thus, the possession of a license opens up new horizons for the company.
Types of License
Licensed online casinos are top-rated today. That is because, in a wide variety of legislative permits for gambling activities, entrepreneurs get the opportunity to choose according to those criteria that are most important to them. These may include duty rates of the state, taxation conditions, the cost of a license, the requirements for the applicant, the numbers of documents requested, and even the time frame for issuing a permit.
Despite the apparent simplicity of the process for creating a casino, it is not so easy and takes a considerable amount of time. First of all, it is necessary to choose a jurisdiction for the gambling house to operate. There are local and international types of licenses. Today, almost half of the world states issue different gambling permits.
The local license has a narrow target market limited to one country. Ministries and departments of the state issue such permission.
The international license covers wider customer geography since it allows operators to provide their services in several countries in the world at once. Its issuance is carried out by the gambling department and gambling commission. Despite the fact that you can get a license almost in every country in the world, there are just a small number of jurisdictions that are considered authoritative in online gambling.
Main Jurisdictions in Global Online Gambling
Each jurisdiction has both its advantages and disadvantages. That is why choosing it remains the most challenging activity in the process of creating a gambling house. The most demanding and, at the same time, respected, are permits issued in the European states. Malta, Gibraltar, Isle of Man, Curacao, Alderney - licensed online casinos in these jurisdictions significantly increase the level of confidence among players.
The Maltese certificate can be obtained for bingo, lotteries, slots, roulette, poker, and other types of gambling. Furthermore, gambling clubs with Maltese license need to get an eCogra and an RNG-certification, which guarantee fair play - that also speak in favor of such a permit. The cost of obtaining a license exceeds the amount of €20,000, and its annual cost for maintenance and renewal is a little less, which indicates the paying capacity of the operator.
Gibraltar law is the most demanding, both financially and legally. To obtain a license, an entrepreneur needs to pay from € 30,000 to € 70,000 for it, provide a detailed business plan, and pass a severe audit. In return, the newly created casino receives an excellent reputation, a low percentage of tax deductions and the opportunity to enter the European market.
Online casinos with a Curacao license are quite popular because, with a high cost of the license (from €40,000), they get many benefits for themselves. These include low requirements from the licensing authority, non-interference in the operator-player relationships, lower tax rate, prompt obtaining a permit document. With such advantages of this license for a virtual gambling house, players highly appreciate it because it allows operators to provide their services in most countries in the world.
Besides those licenses, gambling clubs operate online using the permits issued in South America - by Panama, Costa Rica, Belize, Antigua and Barbuda, and Kahnawake.
Belizean gambling legislation was one of the first to give certificates for online activities. Due to its low cost, permission to open a business for foreign entrepreneurs, and low tax rates, the country is still one of the most popular jurisdictions. Players appreciate Belize certificates for strict requirements for their licensees, which means a reduction in the number of fraudulent online clubs.
Licensed online casinos from Costa Rica are not so trustworthy for players, but at the same time, they are quite common. To obtain gambling permission in this country, you need to meet just a few simple conditions, such as renting an office in this country and providing a small package of documents. In return, the operator will receive no taxation, legal support, and firm license policy.
Shall We Play In Online Casino?
After the question about which jurisdiction to choose for control of the activities for the company, we have to answer an equally important question: Who will be the target market of our virtual gambling institution? This question is essential because each license works for a specific list of countries.
All of them are divided into 4 gambling groups, and their list is formed based on the government’s attitude to gambling activities:
- Countries where online activities are not regulated. It means that operators can provide gambling services regardless of license availability
- Countries where gambling is not blocked. However, it does not mean that residents are allowed to visit online gambling sites. In some countries, it could place residents at risk of criminal liability for violating the law in this matter.
- States where laws require casinos to obtain also a local license. This law works that way - every foreign and local online casino needs to pay taxes to the state treasury, and only in this case, their domain will not be blocked. But the operators' experts began to use mirrors that allow you to pass the blocking temporarily
- Countries where "domestic" operators are required to license their activities, while foreign ones are allowed to work without special permits
Since gambling activities in many countries in the world have serious requirements, customers of any virtual gambling establishment must become familiar with the full information in the terms and conditions before registration. It will save not only their time, which, as you know, is the most important and irreplaceable human value, but also money.
Reasons to Choose a Licensed Casino
After main jurisdictions for gambling establishments and their differences, it is worth mentioning common characteristics and advantages of licensed casinos:
- Most licensing authorities demand their licensees have insurance funds. It is necessary to pay winnings if the operator does not have funds in a real account
- Many gambling clubs that hold a certificate take care of their reputation. It is essential because it’s difficult to earn, but easy to lose
- Cooperation with reliable and serious partners. The biggest and most reputable providers, banking and financial organizations will refuse to cooperate with operators who neglect their customers
- Licensed casinos are more likely to get their development and visitors flow in the shortest possible time, while customers will stay away from unlicensed gambling clubs
Currently, there are a large number of gambling resources that offer complete information about a particular online casino and let you make the right choice for your best gambling experience.