A reliable online casino business starts with obtaining an online gambling license. It allows running a casino legally and proves the provider’s trustworthy behavior and commitment to a fair gaming policy. A license is also an indicator of transparency in business operations and security of the gaming software offered to customers.
It is impossible to set up a merchant account in a bank without a proper gambling license. Banks are very careful about their business partners and are always willing to cooperate with a company acknowledged by a regulatory body in a certain jurisdiction.
There are many jurisdictions all over the world that issue gambling licenses to online casinos. Online gambling licenses are issued only after the online casino business meets the requirements of the chosen jurisdiction.
All online casinos are required to carry a gaming license within the jurisdiction of their business activity. Such that it turns out that most online casinos operate from small islands. The most popular destinations that offer casinos a regulated operational base are Gibraltar, Costa Rica, Antigua, Barbuda, Curacao, Malta, Seychelles, Belize and more.
The level of regulation differs in every jurisdiction, however what is important is that there is some sort of regulation that prevents a casino from not paying its players the winnings they deserve.
In recent years there has been an escalation in criminal activity in online casinos, thus a number of online gambling licensing organizations were set up to assist in minimizing the problem. Seeing as the industry manifested such a negative name for itself online, many countries still prohibit online gambling, such that most online gambling licenses come from offshore jurisdictions as mentioned above.
Why get a Gambling License?
- Although you could go ahead and start an online casino, sports betting or poker site without a license here are three good reasons why it is essential to get your gambling license before you put your gambling business online.
- Online players view websites with a gambling license as more reliable and likely to treat them fairly. Players have more confidence playing on a website with a license so they are more likely to visit the site and spend time there gambling.
- Banks insist that online gambling companies have a gambling license when settling an account, opening a company account for a gambling business or receiving credit card payments.
- In many countries it is illegal to operate a gambling business without a gambling license and breaking this law could lead to legal action, termination and criminal action.
Valsen Gaming Advisory and Regulatory team offers professional assistance and guidance regarding the process of obtaining an online gaming license for Gaming companies. Our gaming services include;
- Assisting with the whole process to get the gaming license
- Helping you select the best software provider matching your plans and budget
- Assisting with accepting payments online (debit and credit cards, ewallets, bitcoins, transfers etc.)
- Assisting with bank account openings for your gambling company
- Advice about day to day operations
Contact us to discuss your licensing requirements and constraints, we will be happy to provide you expert advice.
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