The best countries to license your casino & what to pay attention to. Making it big or failing spectacularly can come down to where one sets up their new business and what provisions to look out for and which is the best license to apply for.
Casinos made their debut in the 17th century; before that, many gambling activities were deemed illegal by the authorities. The first legal casino was the Ridotto casino in Venice, established in 1638. Since then, land-based casinos have sprung everywhere and were subject to laws and licenses from domiciled countries. All these changed when new online casinos came into being in the mid-90s, forcing governments to re-evaluate their policies and create licensing bodies with a global appeal. Antigua and Barbuda became the first country to issue such a license when the Free trade and Processing Act of 1994 passed and became law.
Since then, many Commissions and authorities have been formed for the sole purpose of issuing casino licenses. The best licenses guarantee user data protection and advocate for a friendly gambling experience. Some other factors that a casino may consider before acquiring a license are the license fee, time taken to obtain it and the number of countries it is acceptable. Casinos are also allowed to operate with more than one license. This article will discuss the best casino licenses in different countries that are most sought-after today. So how do you fancy knowing the best license to acquire for your casino? Read on.
- UK Gambling Commission license
- Curacao eGaming license
- Malta Gaming Authority license
- Kahnawake Gaming license
1. UK Gambling Commission License
Gambling in the UK dates to the Middle Ages, which explains why their gambling license tops our list. In 2005, the British parliament passed the Gambling Act into law, which saw the formation of the UK Gambling Commission. It became fully operational in 2007 when its predecessor, the Gambling Board, became defunct. The sole purpose of the UKGC license was to shield gamblers from the exploitation of casinos which was becoming rampant in the UK. The permit is highly revered in the UK gambling circles as it is a requirement before any casino sets shop there. As a result, 95% of all and especially new casinos in different countries, such as Britain, Wales, Ireland, and Scotland, operate with the UKGC license.
Additionally, the UKGC license comes with some licensing requirements for casinos, introduced in 2014. For instance, it introduced a gambling levy of 15% of all profits made from casino proceedings. With this license, it means that the UK gambling commission will be involved in the day-to-day happenings of the casinos. This has gone a long way to curb money laundering, underage gambling, crimes associated with gambling, and irresponsible gambling. However, failure to comply with the license’s requirements attracts hefty fines and revocation of said licenses. For instance, Camelot Group was fined over $3 million in 2016 for flaunting the license’s regulations.
2. Curacao eGaming License
Curacao (formerly Netherlands Antilles) was among the pioneer nations to offer online casino licenses in 1996. The Curacao eGaming license is the easiest to acquire as it has few requirements. It takes one week for the permit to be issued after application. The license also saves money for casinos as it is cheap. It comes with 0 VAT and charges a paltry 2% commission on gambling profits made by casinos. In addition, the Curacao Gaming Authority has fewer bureaucratic processes, unlike other commissions and authorities involved in casino licensing. The key feature that sets the Curacao gaming authority from its peers is its master license package.
Casinos with the master license package can offer sub-licenses to new entrants in the market, similar to the one issued itself. However, it is essential to note that master license holders are responsible for all the activities of the sub-licensee. In addition, casinos with the curacao license enjoy additional services such as international finance, guidelines on how to run an online casino and customised cloud servers. The license is also prominent in ensuring that casinos offer data protection and a safe gambling environment for their users.
3. Malta Gaming Authority License
Malta Island is synonymous with gambling. It started issuing licenses to casinos in 2001, and it’s considered the gold standard of licenses in the casino industry. Casinos operating with the Malta gaming authority license are well respected and can work almost everywhere globally. However, getting this license is not a walk in the park. The application process for the license takes a more extended period than other providers and is a complex one. The authority requires prospective licensees to provide a detailed business plan with vital operational requirements. Afterwards, this proposal is reviewed by various stakeholders in the gaming authority before issuance of a license.
The Malta Gaming Authority offers two types of licenses, B2B and B2C. The B2b is issued to casino games software providers, whereas the B2C is given to online casinos. The Malta license is recognised by all European Union countries and comes with a 5% tax on gambling revenues. The license allows casinos to provide customers with a wide game selection, including the player versus player model. Additionally, the license guarantees players’ protection and is keen on curbing underage gambling in all its licensees. Although it is tedious to acquire a license from Malta, any casino wanting to boast of prestige should get it.
4. Kahnawake Gaming License
The Kahnawake Gaming Commission was established in 1996 after the Mohawk council of Kahnawake passed the Kahnawake Gaming Law. The commission started issuing licenses to casinos in 1999. Although it was created to assert aboriginal rights, the commission has become renowned and is well respected in Canada. Over 250 gaming sites operate within Quebec with the Kahnawake gaming license. The application process takes about 4 to 8 weeks and comes at a low cost. More importantly, the license charges 0% tax on all the revenues generated from gambling activities.
With this license comes the constant monitoring of casinos by the Kahnawake Gaming Commission, which ensures fairness on the casino part. In addition to that, the license guarantees players’ safety as they engage in casino activities. With the cheap cost of acquiring the permit and the 0% levy on profits, the Kahnawake gaming license is ideal for start-ups. Moreover, online casinos wishing to join the Canadian market should apply for a Kahnawake license.
A suitable license may be the difference between making millions in profits or closing their business for any casino. In the casino licensing industry, many commissions offer different types of individual licenses. This write-up has expounded on the best depending on pricing, prestige, and ease of access. Before applying for a license, casinos should do their due diligence to determine what license suits them best.