A gaming license for online casinos allows:
- Buying a software from leading manufacturers;
- Customising reliable payment systems on the website that allow receiving payments and getting prize money in various ways;
- Running an honest and legal business;
- Building trust with the audience: players will not deposit their money in a dubious casino that has no license and thus does not guarantee the winnings payment. Moreover, the network has plenty of licensed online sources offering comfortable terms for mutual cooperation.
Rules and regulations
In order to keep the gambling industry transparent, each jurisdiction has a set of rules and regulations that are codified by law. In order to obtain a gambling license, the operator should be compliant both with the law and the license conditions. E.g. for Curacao it’s National Ordinance Offshore Games of Hazard.
The number of rules and restrictions an operator needs to follow may also differ depending on the jurisdiction. For Curacao it includes:
- An operator’s liability to conduct a policy, which prevents a gambling addiction
- The operator must always display a logo showcasing the type of license granted (master license or sub license)
- RNG certification
Any kind of enforcement activities is usually taken to protect the gamblers and keep the high standards of quality and transparency in the e-gambling industry. It may include formal enforcement, financial penalties, license suspension, and criminal enforcement.
Non-compliant Curacao gambling license holders usually experience administrative fines. However, various sanctions (including imprisonment) may be applied.
Gaming control boards
Each jurisdiction has a regulatory body, which regulates the gambling industry in each particular country and grants/denies licenses. The legal names may be different (e.g. gambling commission, gaming association, gambling board etc.) depending on the country but the umbrella term is Gaming control board.
For example, UK Gambling Commission and Curacao e-Gaming Licensing Authority are both gaming control boards.
The Curacao e-Gaming Licensing Authority has received a responsibility to regulate an online gambling industry from Curacao Ministry of Justice in 2002. Before that, it was controlled by the Curacao Gaming control board.
How to get a license for online casinos?
Getting a license is a crucial step. Gambling business is a specific niche area that is not favoured in all countries, to say the least. Therefore, in order not to violate the local law and be able to conduct a legal business, it is vital to have a licence that grants permission from a relevant jurisdiction, a jurisdiction that is more loyal to online casinos. Each country has its own requirements, as well as the cost of the licence. One of the most profitable and reliable options available today is in Curacao, where you can get a gaming licence for an online casino remotely.
The Curacao license registration procedure is performed if all the necessary requirements are initially met, including the opening of a local company within the territory of the relevant jurisdiction.
Professional assistance in obtaining a license for online casinos
In some other cases, the paperwork for a gambling license can take up to a year. GamingLicensing offers expert help of professionals, who are already familiar with all the nuances of license registration process in most reliable and stable jurisdictions.