To legally operate in the industry of online gambling related to online casinos, lotto, poker, bingo, and sports betting it is mandatory to obtain a license. If a casino does not provide a license, we do not recommend you to take part in it, since the operator cannot ensure the safety and do some operations. For example, it’s not possible to open a bank account and use pokies and table games by popular software providers. Since casino operators need to make an agreement using software, however, without a license it’s not possible. In addition, casinos with a license often get a lighter tax regime and other benefits.
Top Licensed Online Casinos
Types of licenses for online casinos
If you need more licensed casinos check out the Top 10 online casino.
However, it does not mean that casinos with licenses are available in all countries. Many countries prohibit any type of online gambling activity, including casinos with reliable licenses. In addition, local legal regulations change regularly and if today online casinos are legal, tomorrow they are all banned in the country. For example, in 2017, Australia was considered the most gambling country in the world. They were spending over $8 Billion dollars each year playing online casinos. However, in the same year, Australia has introduced Amended Interactive Gambling Law, which prohibits foreign online casinos without an Australian license. It has led to a massive loss of foreign gambling operators in Australia.
Licenses in online casinos increase the confidence of players, removing fears about fake casinos with customized Random Number Generators, and RTP rates of slots. This is due to the audit independent organizations that check the fairness of random operations and issue certificates of conformity. It’s necessary to check for such certificates in the site’s footer. As experienced gamblers, if we see a new casino, we always scroll down to the page to see which licenses and certificates the casino has. And then open the official site of the regulator and find out if there is our casino on the list.
Most reliable online casino regulators
Many online casino owners carefully choose between reliable jurisdictions. It should be reputable and valid in many countries. The list of them is not large, however, most well-known online casinos in the world have licenses of one or several of these jurisdictions.
Curacao
This small island in the Caribbean has many advantages. For example, it has zero percent on casino profits, low-cost service, and fast registration. Casino owners are required to put their own server on the territory of Curacao. Generally, the online gambling industry forms a huge share of Curacao’s economy. That’s why they provide an attractive tax system for casinos.
Kahnawake
There are thousands of players in Canada who love gambling. It’s due to the loyal attitude towards gambling at the legislative level. The Kahnawake Gaming Commission was established in 1996, with one of the functions to issue licenses for online casinos. Kahnawake license takes a service charge of $65,000 to get the license for the first time, including a $40,000 fee in the first year, a $15,000 technical review cost, and a $10,000 fee to renew the license annually.
Malta
Malta Gambling Authority issues 2 types of licenses (B2B and B2C) for a period of five years. This is one of the most difficult licenses to get. Online casinos with Maltese licenses have a solid reputation of a reliable operators. They are on the “white list” of the UK Gambling Regulator, which makes it possible to provide service to British players. MGA supports the Responsible Gaming Authority, which ensures players’ data protection.
The licensing procedure takes place in several stages. First, the MGA considers the application for a few weeks and then issues a temporary license for 6 months. After that, they check the casino’s operations and make the analysis. Based on the results, it decides whether to issue the license or not. If everything is good, they issue the license for a period of 5 years. The tax rates depend on the casino’s income. On average, it ranges between 0.55% to 1.25%.
Gibraltar
To receive a gambling license from Gibraltar, the casino’s owner should provide proof of the financial stability of the company or a business plan. Also, casinos which want to get the Gibraltar license must be ready to conduct transactions such as payout of winnings through the Gibraltar banks. The license fee is %1 of casino profit, but not less than $85,000 per year.
Conclusion
Licensing is one of the most important legal aspects of operating an online casino. It attracts players with full transparency, security of financial transactions, and the overall fairness of casino operations. It makes players loyal to your place. Therefore, the player will be sure in every spin, every deal of cards behind the poker table, and a fair random number generator. We should tell that all casinos under these jurisdictions are legal for New Zealand players. Moreover, players can always make a complaint about the casino to the regulator. In such a scenario, the casino may lose the license, and earn a bad reputation among gambling lovers. So, with a license, there is no place for fraud and customizations of gaming software.
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