Online Gambling Licenses
Online Gambling has proven to be an incredibly profitable and popular business model in many countries. Each year, over one hundred are being launched and the government worldwide tries to keep up with their pace by regulating markets.
There are several different licenses all over the world right now and both players and governments demand that more casinos should have a valid license. We guide you to licenses for online casino and gambling. Make sure to gamble at trusted sites when playing online.
The Importance of an Online Gambling Licenses
In many countries, online gambling is neither forbidden nor allowed. These markets are called “grey markets” and if you play in a grey market country there are some risks attached. Obtaining an online gambling license is a very complex process which involves a variety of due diligence requirements which must be fulfilled. New casinos online that have a license are much more safe and secure than casinos that don’t have them.
All legal online gambling businesses have at least one license to be considered as a safe online casino. Some licenses are harder to obtain than others. For an example, the UK Gambling Commission is regarded to be the toughest one to get for casinos because of all the requirements. However, there are still casinos without Gamstop that are not connected to the license. If you are a casino player, you can, therefore, feel safe when you are playing at a casino with a UK Gambling Commission license. Other popular licenses are Malta Gaming Authority and Curacao eGaming.
At Casinomir, we only list online casinos with a proper license/licenses and with the best casino bonuses and free spins. This is very important for us, because we only want to list casinos that are totally safe and reliable. Another great thing with casinos that has a license is that all of your winnings are completely tax-free.
Make sure to play casino with the right license for your region
What are the Requirements for an Online License?
In order for a casino to apply for a license, the applicants must go through security and background checks and also procedural and operational practices. The requirements vary from license to license.
This is all in necessary in order to guarantee the legitimacy and fairness of the casino. Some checks include background information, game fairness and “random number generation guarantee”, ethical business practices, tax and financial status, fair employment, criminal background and much more.
In addition to this, the receiver of a license must undergo regular financial and tax auditing and technical tests to ensure everything compiles properly. The aim of this procedure is to continuously improve the quality of security in the online casino industry.
The safety and satisfaction of casino players are the most important thing. From the governments perspective, tax and financial information are very important. Each gambling authority organisation is entrusted by their government to carry out and maintain the licensing process.
Online Gambling Licenses and Services
If you start up your own online casino it is critical that you decide which jurisdiction that you want to belong to. Online casino includes online betting, bingo, casino, fantasy sports, esports, poker and sports betting. What you may consider are the initial licensing costs, ongoing licensing costs, maintenance costs, availability of services and tax-levels and other benefits.
The basic premise of licensing in any country is to improve the quality of the services to online casino players. Security and safety are the two most important factors. To get an approved license may take a very long time, so make sure to send in an application as early as possible. If you have a multilingual casino site it is a huge advantage to have several different licenses so that you can expand to more countries.
In addition to this, almost all banks require that you have a correct casino license before you can open up a bank account. All in all, casino licenses are very important and never play at an online casino that doesn’t have a proper license. At this page, you can click on the different licenses that are available and learn more.