Online Casino License: A Way To Get In With The Law
Any Internet casino is required to have an online gambling license to conduct its activities in a particular country, otherwise, it is deemed illegal. By acquiring an online casino license operators obtain a formal permit to work in a certain state. This means that a gaming establishment complies with the laws and regulations binding for a particular region.
Casino licensing proves the legitimacy of a gaming club to customers and partners. And so the owners of online casinos naturally seek to achieve a higher level of trust among the players so that the latter would return to their clubs again.
Gambling is now banned in many countries, and many casinos have moved their activities to the Internet, thus keeping away from the troubles with the law. However, this did not exempt them from settling on how to get a casino license.
Casino Market provides an opportunity to obtain an online gambling license and consultations on any jurisdiction you may be interested in.
How To Obtain Casino License? Step 1: Research
An online casino license can be issued by a number of countries, but they all provide the candidates with their special requirements, which should be strictly adhered to.
However, it is reasonable to conduct your own market analysis to find the jurisdiction that will fit your targets in the best manner. For example, it is worth knowing what kind of reputation a country has among the casino owners and competitors.
The question of jurisdiction is also very important for people who come to online casino websites to play. So primarily we recommend comparing the prospective casino visitors and their geographical preferences. Simply put, it is necessary to determine whether your players will come to the establishment under a certain jurisdiction or not.
How To Get An Online Casino License? Step 2: General Adequacy
The procedure of obtaining an online casino license is, in fact, quite time and effort-consuming. It was made that way to prevent fraudsters from entering the gambling business. So in order to get a club licensed casino owners need to fulfill a list of certain requirements.
Separate provisions and the strictness of the laws relating to gambling vary from region to region, but typically the registration authorities verify whether:
- a company is able to prove its honesty, integrity and the absence of criminal records;
- all monetary transactions are transparent and the client safety is secured at the highest level;
- a casino is inspected by independent organizations for fair payments.
The level of control differs depending on the jurisdiction, but at all accounts the gambling licensing organizations were developed with the express aim of minimizing the incidents of criminal activity in the online casinos.
How To Get A Gambling License For Casino? Step 3: Obtaining the document package
Though casinos and other gambling facilities are prohibited in many CIS countries on the state level, the Casino Market company provides the gambling licensing services in Alderney, Austria, Australia, Belgium, Costa-Rica, Curacao, Dominican Republic, Estonia, Gibraltar, Isle-of-Man, Italy, Malta, Kahnawake.
Given the strong differences in the jurisdiction of these countries, it is difficult to give a specific list of documentation. Each state requires its own list of papers based on the type of license and the business model of a project. For example, in some states, the law does not provide special requirements for the content of a website or the location of servers in the jurisdiction, which a company is registered under.
Generally, a person dealing with casino licensing has to:
- Make a statement for permission of gambling activities to specific authorities.
- Provide the company information: name, legal address, phone numbers.
- Prove (by copies or scans of respective documents) the company's existence.
- Formalize the bank statements showing the amount of funds on the company accounts and have them authorized by a notary.
- Draw a detailed business plan featuring information on assumed expenses and revenues.
In order for the documents to be collected and requirements to be fulfilled in the quickest manner possible, feel free to contact the Casino Market company offering the services of the experienced staff.
How Much Does An Online Gambling License Cost?
Gambling surely is an entertaining business, but it still calls for a serious approach. It is very important to comply with all the rules and requirements established at the legislative level and implement the legal dimension of this business correctly.
When choosing jurisdiction, the first question to solve is which countries you plan to involve the players in. Our recommendation is to decide on the jurisdiction known to the vast majority of gamblers, and the best choice (according to this criterion) is the state in which you can get the biggest number of visitors.
Apart from that there are many factors, which determine the price of an online gambling license.
Namely, those are the characteristics of a jurisdiction an online casino is supposed to be registered under:
- level of law loyalty to gambling;
- type of online casino license;
- political stability;
- prestige of jurisdiction;
- tax load;
- marketing strategy (target audience) of a company;
- business development stage;
- time allowance before the project start;
- network infrastructure;
- availability of payment systems;
- popularity of jurisdiction among other gambling providers;
- need for local office and staff.
In any case you can always get a prior consultation on prices and stages of work from the Casino Market experts. To speed up the process of obtaining any license and avoid project delays it appears logical and wise to get Casino Market professionals involved in the business development.