Why Online Casinos Need a Gaming Licence
If you are planning to launch an online iGaming business, it is necessary to get an online gaming licence for your casino or sports betting site. A gambling licence is a prerequisite to working legally and without complications. Here is what you need it for:
- Opening bank and merchant accounts
- Working with electronic payment system providers
- Access to gaming content from reliable, game providers
- White-hat marketing and responsible gambling practices
- Increased player loyalty and trust
The first step into getting an online gaming licence starts with selecting the right gambling jurisdiction. This is because each jurisdiction offers unique requirements for the casino operator, the software they use, licence application processing time, and licensing costs.
Understanding the Types of Gambling Licences
Every country has unique rules and regulations governing online gambling and betting. Understanding these regulations is key to determining the kind of betting licence you will need to obtain, to provide online casino or sports betting services in a specific country. Gambling licensing can be divided into two broad categories:
- National licences – specific to a country, permitting local operations
- International licences, or offshore gambling licences, – cater to multiple markets
It is vital to understand that a licence is a must for running a legal online gambling business. This can enhance your brand's credibility and ensures financial stability for both you and your players. Also, remember that many users base their decision to engage with an iGaming site on the credibility of its licence. Without the proper licensing, an iGaming business risks losing user trust and, consequently, failing.
While national licences let operators focus on one specific country, there are multiple international options available where you can licence your online gambling business. For best results, consider an all-in-one casino platform solution with the expertise to support operators in obtaining international licences that cater to a variety of markets.
How to Get a Gaming License | SOFTSWISS– a standalone turnkey casino solution can be ideal for full operational control in other jurisdictions. It’s worth pointing out however that each jurisdiction has its own policies and regulations. In this next section, we’ll have a closer look at what we consider to be the best offshore betting licence options.Curaçao Gambling Licence
The Curaçao licence is extremely popular with operators of online casinos, all due to its low costs and opportunity to conduct business across a wide geography. Seasoned players from the world of gambling are quite familiar with the Curaçao gambling licence, acquiring this licence will usually help to increase player trust and loyalty.
Previously renowned for its exceptional loyalty, this licence is anticipated to become more resource-intensive for operators in the future.
New licensing changes are expected to come into effect after the second quarter of 2023. Changes will include:
- Implementation of new fair play standards, with modifications to measurements and audits.
- Enhanced player protection measures, customer care, complaints handling, and responsible gambling policies.
- Introduction of international standards to combat money laundering (ML) and terrorist financing (CFT).
In addition, licencees will also need to have a presence within the country, including an office and a staff of at least four employees – one of whom must be a local resident of Curaçao.
Malta Gambling Licence
Malta's gaming licence is usually regarded as one of the most prestigious and stable in the world. Having this licence demonstrates that the casino operator is transparent and follows all EU regulations when it comes to online gambling.
As of 2022, the Malta Gaming Authority (MGA) requires licensees to comply with additional background checks and to ensure no funding comes from Russian sources.
Kahnawake Gambling Licence
Kahnawake was the first jurisdiction to recognise the potential of online gambling and enact regulations back in 1999. Now this well-respected location holds more than 250 licensed sites. The licence is attractive in the world of iGaming as it offers a great variety of licensing options as well as numerous fiscal benefits. Also, its low costs of setup and maintenance, as well as a flexible setup process, make Kahnawake another option for iGaming startups.