In many countries, online gambling is neither forbidden or allowed. These markets are called “grey markets” and if you play in a grey market country there are some risks attached. Generally speaking, obtaining an online gambling license is a very complex process which involves a variety of due diligence requirements which must be fulfilled. New casinos that have a license are much more safe and secure than casinos that doesn’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. If you are a casino player you can therefore feel safe when you are playing at a casino with an UK 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.
In order for a casino to apply for a license, the applicants must go through several 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 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 complies properly. The aim with this procedure is to continuously improve the quality sand security in the online casino industry. The safety and satisfaction for casino players are the most important thing. From the governments perspective, tax and financial information is very important. Each gambling authority organization is entrusted by their government to carry out and maintain the licensing process.
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.