Casino Licensing - What sells them and who needs them?
Learn about the different online casino licenses in this ultimate guide. Click here to know more!
For you to attract players to your site, it's is important that you develop trust among them. This is the same for all casinos - whether it's a land-based or online casino. Before a player chooses for an online casino, they need to know that someone is looking out for them to ensure that they are not cheated. When it comes to online gambling, it is even more difficult for players to trust the integrity of the games they play due to the fact that they can't really see how the outcome of the games is being determined. Check https://www.1-online-casinocanada.com/ to know more.
To give people confidence when playing at an internet gambling site, it's important for the casino operator to hold a license from one of the top regulatory bodies in the industry. Licensing authorities are responsible for regulating and licensing casinos in the iGaming industry. However, when applying for a casino license, you will be required to meet certain standards of fairness, reliability and security. This is done to ensure top-notch services and gamblers satisfaction and also to provide a fair and enabling gambling atmosphere. The authorities also serve as a peacemaker between casinos and players. Read on to know the various types of licensing authorities.
The United Kingdom Gambling Commission
The United Kindom allows gambling in its jurisdiction since 2006. However, if you want to operate with the UK jurisdiction, you will need to hold a license under the jurisdiction of the UK Gambling Commission under the Gambling Act of 2005. Today, several casinos are licensed under this jurisdiction, and it's among the trusted authorities in the industry. In 2012, the Gambling Commission published a Draft Gambling Bill, which is said to change the way licensing, compliance and regulation is carried out. Today, when you operate within this jurisdiction, you won't just pay the 15% tax fee but also the other cost required in the entire regulation process.
The Malta Gaming Authority
Another top authority in the industry is the Malta Gaming Authority (MGA). The MGA began in 2002, and it has licensed over 380 online gambling sites via the Public Lotto Ordinance, which was later changed to the Lotteries and Gaming Authority. In 2004, the Remote Gambling Regulations was restructured and now offers 4 various gambling licenses: Class 1 gaming license, class 2 gaming license, class 3 gaming license and class 4 gaming license. Before you can hold a license from this jurisdiction, you need to undergo strict policies and procedures. MGA licensing is valid for 5 years and has a tax of 0.5% of the turnover.
Gibraltar Gaming Commission and Kahnawake Gaming Commission
Another leading licensing authority is the Gibraltar Gaming Commission, which has licensed over 280 online gambling sites under the Gambling Ordinance of 2005. The jurisdiction is a member of the European Union, but it's independent of UK tax rules and regulations. The jurisdiction will only license operators that have honest records and also passed their strict procedures and policies. Another one is the Kahnawake Gaming Commission, which was founded in 1996, and has licensed more than 100 online gambling sites. Getting a license from Kahnawake is not cheap as operators will be required to pay huge amount of money. Others include Curacao, Costa Rica, and many more.
Why you should play at a licensed casino?
There are lots of online casinos out there that offer gambling services to players around the world. The truth is that not all these casinos are reliable and reputable. Some of these casinos are rogue casinos that want to rip players off their hard-earned money. Because of this, players who want to enjoy the best gambling experience should play only at a casino that is licensed. Additionally, playing at a licensed casino will assure players that the result of the games they are playing is not rigged. To know if an online casino is licensed, players should visit the site and check the footer of the page.