The availability of a license from the local regulator is a significant sign of security and transparency in the concrete online casino. The number of countries that introduce changes in their national Gambling laws and impose a procedure for mandatory licensing of the gambling operators has constantly been increasing. The companies are obliged to file application documents, to pay taxes on an annual basis each year and to pay profit taxes in the state treasury.
Each service in the playing platform on mandatory must have 9its own license. For instance, the casinos that offer lottery games or sports bet should legislate each of these two separate offers. With such action, the maximum customer’s protection is aimed, as well as the correct and in-time payout of the profits through smooth and problem-free withdrawals.
Several destinations are attractive for entrepreneurs due to tax concessions and low taxes. Curacao, Malta and Gibraltar are among the top popular licensing jurisdictions, while the UK and Sweden have the best reputation in the gambling industry as a whole.
The provided license from Malta Gaming Authority secures the operator from the English-speaking market a significant role within 5 years. The licensing process is executed fast – it takes nearly a month, but the gambling company has half a year to show great results to keep its license. Depending on its annual income, the tax amount is different, and it varies between 0.55% and 1.25%.
The reason to see more and more online casinos with a license from Curacao is the fast document processing. The procedure is also cheap, while the income is not bound with any taxes, but there are also many other benefits for the owners of the gaming web platforms. However, the license provided by the government in Curacao is not qualified with the reliability and the quality of the other licensing commissions. It is possible to meet problematic online casinos that don’t pay the profits out or provide unregulated slot games.
Online casinos with a license from the UK are typical for the high-security level and the great customer’s protection. The gambling commission has many requirements for the operators – separate bank account for the customers’ money, generators for random number combinations, personal data protection, etc. As a whole, this must be the most authoritative regulator that strictly researches the companies before licensing them.
To be legislated by the commission in Gibraltar, the web casinos should correspond to numerous criteria. First of all, it is a must for them to invest bigger capital in a bank account to guarantee the company’s solvency. Annually, the company pays a 1% profit fee, and safe for its, it is also obliged to establish servers in Gibraltar, as well as to open at least one physical department in the country.
Why is the license so crucial for the online casino?
Many customers underestimate the influence of the licenses, and this is a huge mistake. Before moving to the registration process in a gaming platform, check out whether it has a license provided by the local regulator. It will save you lots of problems related to payments, profits from casino games and the protection of your personal data. The regulated operators can provide only certified games with payout ratio, and payment correctness are guaranteed.
The biggest part of the online casinos operates with licenses provided from Curacao, Gibraltar, Malta, Sweden and the UK.
Yes, there are countries that regulate the local market with gambling laws. Among them, the leading one is the USA.
It depends on the local regulator. In most the countries, the license lasts 5 years, but it is a must for the companies to meet the annual requirements and to pay profit taxes.
According to the global requirements, the licenses of the online casinos should be announced at the bottom part of the platforms. You will find codes, as well as the dates of the licenses and for which services they are valid.