Every gambler should know that online casinos are not allowed to provide gambling services like sports betting, lottery, poker, etc. without a license.
The further work of a gambling institution without a license is challenged because a provider will not be able to create a bank account and place video slots and card games on the website, because it is necessary to conclude an agreement with the developer of gaming software, and this cannot be done without a license. Read more about the role of online casino licensing authorities in the post.
Building Trust Between Players and a Casino
The presence of a license increases the trust of players and automatically removes fears about the inappropriate RTP of one-hand bandits and refusal to pay off winnings since a platform passes a regular check of the RNG to prolong the certificate of conformity. Even if a certain institution provides players with the best online casino bonuses in the UK or any other country, it should have a valid license to win the favour of players. Therefore, gambling platforms usually add brief information about their license into the footer of the site, so when gamblers visit a website for the first time, they begin with checking the authority that has issued the license.
The requirements for receiving a license are similar to those that apply to companies conducting banking activities:
- The CEOs and staff of the company must have some experience in the financial sphere to ensure the stability of their business.
- Companies suspected of illegal activities are denied even without considering the application.
- Some commissions check applicants for a good reputation.
- Sometimes, full data on the structure of finances and the company is required.
The owners of gambling platforms are challenged by the choice of trustful jurisdiction, which is in demand in many states. Currently, their range is limited, and casino owners are licensed by one of the following authorities described below.
Top-5 Jurisdictions for Obtaining a License
- Antigua and Barbuda: to obtain a license, you need to submit a number of documents in accordance with the state laws. The applicants must pay a one-time application fee, as well as taxes on net gambling winnings.
- Curacao: this is one of the most trustful authorities for licensing. It has a single application form for bookmakers, slots, bingo, lotteries, and casinos.
- Malta: the level of reliability of this authority is very high, but the procedure itself takes a little longer. There is a large list of documents, which is revised depending on the sphere of the client’s activity.
- Alderney: this license allows the operator to accept bets all over the world. Before submitting an application, you must receive a Software Vendor Certificate.
- Kahnawake: this commission requires three types of different forms to get a license.
Choose a casino with a reliable license and enjoy the game! You can check the News Cision latest article to choose from the best online slots
