What Is a Gambling License and Why Do You Need It?
The owners of virtual gambling clubs need a license – permission to carry out gambling activities to attract customers. When choosing an online casino, the player should read the documentation carefully. The presence of a license ensures that it is legal and controlled, winnings will be paid, and the transactions will be protected. Having a license will positively affect the image, thus the promotion and development of the business.
Some countries issue licenses exclusively on the local territory, but it is possible to legitimize your business everywhere it is allowed.
Where to Get a Gambling License
Interested in where and how to get a gambling license? These locations are the most popular choices among the owners of gambling websites.
Curacao
Since this is an overseas territory of the Netherlands, it has a special status in the European Union. Online games in Curacao are completely legal if the gaming company has obtained the appropriate internet gambling license for an online casino in Curacao. Obtaining a license in Curacao requires following strict rules.
Advantages of getting the license in Curacao:
• technical issues are resolved by local authorities;
• top-level software;
• an opportunity to establish cooperation with European banks;
• fast and easy obtaining of documents;
• the prestige of the region (attractive status of jurisdiction within the Netherlands);
• fairly inexpensive gambling licence cost;
• covers all online gaming products (casinos, sports betting);
• Curacao offers private servers, as well as assistance related to the launching of an online casino;
• minimum requirements for the software and finances of the company;
• quick procedure (up to 1 month);
• minimum package of documents required;
• no gambling tax;
• no restrictions on the withdrawal of dividends.
The owner of the online casino is required to host a server in Curacao.
Kahnawake
The Kahnawake Gaming Commission checks, first of all, the quality of software, the fairness of the game and settlements with casino users, and guaranteed protection against fraud.
Key benefits of getting a license in Kahnawake:
• stable political and economic situation;
• impeccable reputation;
• flexible legislation;
• an online gambling license obtained in Kahnawake is considered one of the most reliable;
• there is an opportunity to attract foreign players;
• when converting, you can use more currencies;
• no gambling tax;
• no requirements regarding the registration of a company in this jurisdiction;
• the procedure takes about 4 weeks;
Malta
In Malta, you can register two types of limited liability companies (LLC): private and public. The liability of shareholders is limited, which is a significant factor. The registration process is more pleasant than similar procedures in other countries.
Benefits of licensing your gambling business in Malta:
• quick registration;
• obtaining the status of an international company in the EU;
• high reputation of jurisdiction;
• licensing for all games;
• lack of technical restrictions on gambling (online, offline mode, mobile casinos);
• safety and reliability of doing business;
• lack of restrictions in Maltese banks, high-quality banking services;
• the opportunity to enjoy tax benefits;
• no tax for the transfer of finance abroad;
• the opportunity to obtain a residence permit in Malta.
Gibraltar
Gibraltar is an offshore jurisdiction that is the overseas territory of Great Britain. Many gambling operators (especially from the UK) work in this country, that’s why the gambling business in Gibraltar is considered one of the main activities of the region. To preserve an impeccable reputation, the government carefully monitors all licensees to make sure they carry out their activities in accordance with the licenses and strictly adhere to the laws of the country.
Benefits of obtaining a gambling license in Gibraltar:
• the company increases its reputation by becoming a member of the EU market;
• the owner of the business pays the minimum tax for activities – 1% of the total income;
• equality with local companies;
• stable economic conditions;
• financial secrecy and security, as well as the possibility of opening a merchant account;
• payment transactions are not controlled by the system and are not disclosed.
Costa Rica
To get a license in Costa Rica, you must not only register your company here but also be physically located in the country (rent or own an office, as well as legally hire employees). There is no special gambling license in this republic; it is enough for entrepreneurs to obtain a commercial permit for data processing. This document allows you to deal with any subspecies of the gambling business.
Benefits of registering online gambling in Costa Rica:
• stable politics and economy;
• local jurisdiction is not considered offshore, which contributes to partnerships with the United States and the European Union;
• legal support;
• easy to register a company (1-2 months) and obtain a license (up to six months).
Who Can Issue a License for Your Gambling Business
Licenses are issued by law companies that are engaged in the registration, or you can obtain them yourself by submitting an application and preparing documents for jurisdictions.
There are various gambling commissions, departments and ministries issuing licenses, and each of these institutions has its own rules and requirements for online casino holders. You need to consider the choice of jurisdiction carefully, taking into account its reputation, geolocation, and other factors.
Some entrepreneurs turn to agencies in offshore zones, which will be profitable (about 20,000 EU per year), but inspire less trust in the customers. Jurisdictions with stricter policies and high standards give a guarantee of security and fair resolution of conflicts.
Remember that you always need to guarantee transparency, security, legality, and trustworthiness.
Conclusion
To become a successful and popular gaming platform, it is equally important to have a website that works impeccably and to gain the trust of customers and good reputation. Multi-Programming Solutions can help with the former, and the latter is aided by getting a license.
The presence of a special gambling license shows the customers that the casino operates legally and can be trusted. A gambling license ensures that the operation of an online casino in accordance with the law, transactions are conducted safely, money will be paid, and the casino is controlled by independent auditors. That’s why the gambling license is a necessary part of your image as a reliable institution.
(MPS is not a gambling license website and does not offer licensing services.)
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