Overview of licenses for gambling business: main regulators
The gambling industry is subject to strict regulation by relevant gambling commissions. Online casinos must obtain a license to provide gambling services to users. The absence of a permit is a serious reason for companies to be blocked. Licenses for the gambling business are issued by regulators in different jurisdictions. The conditions for obtaining, permitted directions of work, license costs, and validity periods vary among different regulators.
Popular licenses for the gambling business
Online gambling is a profitable and dynamically developing industry. Gambling games are very popular among gamblers, which opens up wide prospects for business. However, not every company can provide gambling services to clients. To do this, it is necessary to meet a multitude of requirements and legislative norms. Regulators in different jurisdictions carefully check casinos before issuing licenses, as well as conduct checks during the companies’ operation. Having a license confirms the legality of online casino operations.
Malta Gaming Authority (MGA)
The MGA is one of the most well-known regulators in the gambling market. The authority has been operating since 2000. Casinos with Maltese licenses are considered reliable and safe. The license applies to jurisdictions of the European Union. An important advantage of obtaining a Maltese license for a casino is a low tax rate of 5% and a well-established banking system. The regulator issues type A B2B and A B2C licenses with different sets of possibilities for gambling companies.
Many gambling service operators obtain licenses in Curacao jurisdictions. Advantages of obtaining a Curacao permit include:
- Fast registration process;
- Attractive rates;
- One license for different services.
Such well-known brands as Casino-X, Play Fortuna, Slot V, Fresh, and other casinos hold a Curacao license.
Kahnawake Gaming License
The Kahnawake regulator has been operating in the gambling industry since 1990. It is considered one of the most reliable and respected jurisdictions. Permits are issued strictly to those casinos that meet high gambling standards and adhere to the principles of responsible gaming. The Kahnawake Commission constantly monitors licensees, ensuring players a high level of protection and security.
Isle of Man License
In 2001, the Isle of Man regulator became the first gambling commission to issue licenses to operators in the European market. The regulator is respected by both companies and players. The tax for licensees ranges from 1.5% to 0.1%, with zero corporate tax. The application process and document processing are simple and fast.
UK Gambling Commission
Until 2014, the UK Gambling Commission regulated land-based casinos in the United Kingdom, crown, and overseas territories. Today, the UK Gambling Commission issues permits to gambling service providers and online operators. It is one of the strictest regulators in the industry with fairly stringent requirements for licensees. However, a UKGC license indicates the complete fairness, safety, and reliability of the casino.
Gibraltar Regulatory Authority
The Gibraltar Regulatory Authority (GRA) is a reputable organization that issues licenses for all types of gambling activities. It imposes strict requirements on licensees, offers favorable conditions for obtaining permits, considers player complaints.
Other regulators, such as those in Cyprus, Costa Rica, and other jurisdictions, also issue licenses to online casinos. However, the regulators listed above are considered the most authoritative.
The gambling industry is subject to strict regulation by relevant gambling commissions. Online casinos must…