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A fully licensed online casino is one that is able to offer players increased levels of safety because it is a casino that is guided by set of rules and standards created and implemented for the purpose of building a safe and fair i-Gaming industry. That’s why, for safety and assurance purposes, it is vital for players to find and play at online casinos which are licensed and regulated by the most professional online gambling licensing jurisdictions.
The online gambling world is highly regulated to protect both clients and operators from money laundering, fraud, and other forms of criminality. While no one likes the thought of being so heavily regulated that it sometimes stifles innovation and development, a level of oversight is necessary. Thankfully, there are a few jurisdictions that strike a healthy balance between protecting stakeholders and allowing the growth and evolution of the iGaming industry.
Having a license from a reputable legal Authority will helps gambling operators to work in compliance with laws and regulations, attracting players by complete transparency, financial transactions safety and fairness of the gambling process. Licensing leads to players’ loyalty. A client of a licensed casino is always sure that every reels’ spin, every blackjack deal is always determined by random number generator system where there is no space for any fraud and software manipulation.
Be notified that every online gaming platform must be registered and compliant with at least one jurisdiction. Not doing so is a huge risk for you, your company, your reputation, and the reputation of the industry as a whole. So when you choose an online casino always check and their license before registration. The ones that operates without a license could be easily shut down and blacklisted from acquiring an online gambling license in the future.
So here you can take a quick look at the Top Online Gambling Licensing Jurisdictions:
CURACAO E-GAMING LICENCING AUTHORITY, NETHERLANDS ANTILLES
Curacao Gaming License is the perfect solution for startups. After the LGA, the government of the island of Curacao is the largest online gambling licensing jurisdiction in terms of the number of licenses granted. It has licensed over 450 online casinos, sports betting houses, bingo halls, and many types of entities falling under the i-Gaming industry. The very first online casino license it granted was to Cyberluck casino that actually still operates back in 1999. This Licensing Authority issues only one license to cover all the products of an organization. In the case of an online casino, for example, all the games, software, poker rooms, live dealer casinos, etc. that fall under that casino will be licensed under the one license issued to the casino.
What actually makes it so popular?
Firstly, Curacao is considered as by far one of the most accessible jurisdictions for licensing. It also has one of the shortest processing times and offers a one-size-fits-all license, regardless of the game type.
This, combined with its cost-efficiency, means it is the perfect location for new online casinos and those taking their first step in the online gambling business. Curacao offers the world’s quickest, most cost-efficient, and least bureaucratic licensing process and allows entrepreneurs to reinvest off all the revenue into the business as they can enjoy 0% tax rate and 0% VAT on all revenue for their online gambling companies.
In addition to this, Curacao has a solid reputation as a jurisdiction with good levels of trust, responsibility, and oversight. Having a Curacao license and complying with all applicable regulations means only that the casino that owns it is in a good standing with other companies and partners in the industry.
As a pioneer in offering gambling licenses, Curacao’s annual cost is €25,000 plus the application charges of €2,000.
LOTTERIES AND GAMING AUTHORITY OF MALTA
The Lotteries and Gaming Authority of Malta (LGA) is an organization that is very keen on its involvement in the online gaming industry. It was created to serve not only as a licensing organization but also a regulatory body and an independent auditing company for all kinds of entities within the industry. The LGA has provided services to many top-notch casinos including Redbet, Royal Vegas, Ruby Fortune, Roxy Palace, Mr. Green, and many others. Its scope of operations spans licensing and regulating sports betting sites, bingo halls, national lotteries, and poker rooms as well.
The island of Malta is considered as the gold standard of iGaming licensing. The Malta Gaming Authority has been regulating gaming and issuing licensing since the early 2000s. Benefits of a Maltese gambling license include operating in an EU jurisdiction, tax benefits as low as 5% through the full imputation system, ease of doing business with banks and payment providers, and, of course, the prestige that comes with the Malta Gaming Authority approval.
These benefits and the reputation that comes with it, come at a price. The License is one of the most expensive available and the process to acquire it is lengthy and complex. That’s not to say that it’s not worth pursuing. Many online casinos start their business with a Curacao or Kahnawake license and then after some years, apply for a Malta online gambling license.
There are two licenses in Malta- a B2B license and a B2C license for a period of five years. Those operators who obtained a prestigious Maltese license are on the UK Gambling Commission’s ‘white list’, which allows them to offer their services to British players. The operators have to adhere to a number of requirements, such as filing financial statements, ensuring players’ personal data safety and creating a Responsible Gaming Policy.
Gaming operators would opt for the B2C license which allows them to operate an online gaming platform offering a wide range of skill and luck-based games.
The Malta gaming license is the industry gold standard. Renowned throughout the world, a platform operating under the supervision of the Malta Gaming Authority will find many doors opened to them. They will also find it easier to open bank accounts, enter third party agreements, and to offer services to international clients.
Because of the long process and all high level requirements the Malta online gaming license is not very usual with startups. The reason for this is due to the high cost, stringent requirements, and the length of time needed to complete the process. Usually the well established and profitable casinos want to expand into more markets and benefit from additional payment options.
Online casinos with “B2C – Type 1 Gaming Services” license (slots, board games, live games) pay annual taxes of 1.25% if their profit does not exceed €3.000.000, 1% for a profit of up to €4.500.000, 0.85% for a profit of up to €5.000.000, 0.70% for a profit of up to €7.500.000 and 0.55% for a profit of up to €10.000.000.
MGA is one of the most renowned international regulatory bodies known for its stringent codes of conduct to running a gambling business. The annual levy is €25,000; the application charge is €4,000. MGA offers four classes of licenses. Casino operators that render wagering services on their portals need to apply for two separate grants from MGA.
GIBRALTAR LICENCING AND REGULATORY AUTHORITY
British Crown-dependent Gibraltar has been known as online gambling central for years. It issues many types of e-Gaming licenses including licenses granted for bookmakers, gaming operators, gaming machines, betting intermediaries, lottery promoters, remote gambling, and a few others. Although the Gibraltar Licensing Authority has – at this time – a full 15 years in operation after granting its first license in 1998, it has just around 300 organizations licensed under it. This makes it the 3rd largest online gaming licensing authority in the world although the first choice for many i-Gaming operators.
In order to get a Gibraltar license, online casino owners have to prove their financial solvency, provide a business plan and be ready to perform transactions like winnings payouts, players’ credit card data processing, exclusively through Gibraltar’s banks. License holders pay 1% of their annual profit, but no less than £85.000.
ALDERNEY
The Alderney Gaming Control Commission (AGCC) is a gambling operator licensing jurisdiction with servers located in Guernsey. The commission was established in the year 2000 and has kept a record clean enough to become one of the whitelisted remote gambling jurisdictions under the UK online gambling law. Recipients of licenses granted by this jurisdiction are best known for the fact that under the AGCC license, the licensee may accept business from players all over the world including the United States. This jurisdiction is also known for its varied forms of licensing which allow for the granting of full licenses, short-term licenses as well as licenses to companies with their main operations running from another jurisdiction.
KAHNAWAKE GAMING COMMISSION
The Kahnawake Gaming Commission is working sinse June 1996 but took a few years to start giving out gaming operator licenses. The first one was being given in July 1999. Owned by the Aboriginal Mohawk group of Kahnawake, the Commission heads all licensing and regulating of both online and offline gaming. This relates only to online casinos, poker rooms, raffles, and lotteries operated within the part of the Kahnawake that is owned by the Mohawk people.
The Kahnawake Mohawk Territory is a First Nations Reserve in Quebec, Canada that offers its online gambling licensing to international operators. Since 1999 it has grown to become one of the biggest registries in the industry with more than 250 big names including online casino, poker, live games, eSports, lotto, sports betting and more. It is a highly respected jurisdiction with high standards regarding compliance and ethical gambling.
Holding a Kahanawake gambling license means that the holder is a responsible and fair in gaming practices and that the entity is not fraudulent in any way. All the players to the casinos holding a license from Kahnawake can enjoy a significant vote of confidence in terms of the legitimacy of their personal data and financial operations. The Kahnawake Gaming Commission is constantly monitoring and supervising their licensees, which translates into higher-level of player protection and increases business partners confidence, allowing a wider portfolio for payment methods and access to more markets.
Being licensed by the Kahnawake Gaming Commission provides operators with 0% gaming tax meaning more profit can be ploughed back into the company. This, combined with an efficient and relatively low-cost application and setup process makes it a good option for many iGaming companies.
UK Gambling Commission
Holding the UKGC license is a sign of a brand’s unbeaten reputation. The authority is mega-demanding when it comes to the requirements for gambling operators. The annual fee varies from £20,000 to £50,000. The application levy is £5,000. The UKGC offers grants for casino operators and betting companies, both online and land-based.
Dutch Gaming Authority
This Authority is not one of the most popular in iGaming. Probably the one-year fee of €25,000 and the six weeks the approval time has something in common. The Board is very reliable and offers seven grant types, including a single license (e.g., one-time lottery) and multi-year grants. The DGA approval is not easy to get, but it is a proven hallmark of the venue’s top-tier trustworthiness.
Conclusion
No matter if you are a new or experienced player one of the most important think you should know is that license by a world-recognized regulatory body is what detects white-label casinos from scammers. Gamers can easily check whether a brand is accredited or not by visiting its website or monitoring expert reviews on the Internet. The golden rule for all players and sports enthusiasts is checking up licensed portals, which stand for their solid reputation and ensure a safe and pleasurable user experience to customers.
