The Imporance of Online Gambling Licenses
Gambling licenses are one of the key requirements before a business can run a casino, whether online or offline. This page explores the various gambling licensing jurisdictions and their details.
Within the gaming industry, different types of licenses may look the same to an outsider. This post breaks down the different types of gaming licenses and what they are best for. Here’s why gaming licenses are paramount:
- Establishes proof of the top online casino sites legitimacy
- Ensures the casino abides by the industry’s laws and gaming regulations
- Guarantees transparency in financial transactions, including payouts
- Determines the jurisdiction of your casino’s operation
Regional Gambling Licenses
Malta
The Malta Gaming Authority, or MGA, is one of the most credible in the gambling industry. With an MGA license, you can enjoy tax benefits, credibility, trust from players, and advertising opportunities.
MGA issues more than 300 licenses, including slot machines, poker, table games, lotteries, live games, and sportsbooks. The time for getting an MGA license can be up to six months.
Curaçao
A gaming license from Curaçao is known for its reliability and has several benefits, such as quick processing, low fees, and no taxation on casino profits. Curaçao issues several licenses for bingo, lotteries, casinos, slot machines, and bookmakers.
Expect to get a Curaçao gaming license within two to three months. These are more popular with online gaming providers, but offer less player protection than other regions. Ensuring a good relationship with your casino manager is key.
Gibraltar Licensing Authority
Another licensing authority with a great reputation, the Gibraltar Licensing Authority, also has several advantages, such as low tax and establishing trust from your clients.
A license from this gaming authority can also open the doors to getting a legal merchant account for your casino. Gibraltar gaming authority issues licenses for casinos, sportsbooks, lotteries, table games, and social gaming. To get a Gibraltar gaming license, you can expect to wait up to three months.
Antigua and Barbuda
This gaming authority issues licenses for casinos, slot machines, bookmakers, lotteries, and table games. Antigua and Barbuda employ a rigorous selection process for gaming licenses, so you might have to wait four to five months to secure a license.
Alderney Gambling Control Commission
Gaming license from Alderney Gambling Commission covers pokies machines, poker, lotteries, bingo, and sports betting. With a gaming license from this commission, you can enjoy several advantages, including short processing times and the absence of income tax for citizens and non-residents.
Businesses that apply for an Alderney gaming license must wait for three to five months for it to be reviewed and approved.
Kahnawake Gaming Commission
This is a small licensing jurisdiction based in Canada and has a reputation for reliability and honest operators. Kahnawake Gaming Commission issues licenses for lotteries, online casinos, bookmakers, slot machines, and bingo.
This licensing authority is owned by one of the indigenous tribes and has strict requirements, meaning the waiting period to get a license can range from four to six months.
Isle of Man Gambling Supervision Commission
This is a small offshore territory in the English Channel, but their license is one of the most prestigious. In fact, the Isle of Man gambling commission’s license is so credible that one license suffices for all types of gambling.
Other advantages that you can enjoy with a license from this commission include low-income tax and establishing trust among the players. Isle of Man Commission offers a license for online gambling and brick-and-mortar casinos.
UK Gambling Commission
The UKGC offers a license for slot machines, bookmakers, bingo, lotteries, and brick-and-mortar casinos. A gaming license from the UK Gambling Commission comes with low tax advantages, low expenses, and commissions.
The processing time for the UKGC license can take anywhere from six to 12 months, since the application is considered in several stages.
Panama Gambling
The Gaming Control Board of Panama issues licenses for lotteries, bingo, poker rooms, and online casinos. This gaming commission license can take up to six months, as they have several requirements to consider the application.
With a license from Panama, your casino can enjoy lower taxation, a progressive legislative system, and top security.
Seychelles
Gaming licenses from Seychelles can take anywhere from five to six months, but the license is well-known in the gambling industry for its credibility. You can get a license from the legislation of Seychelles for online casinos, slot machines, poker, and table games.
Denmark
Despite the high taxes, a Danish Gambling Authority license is also highly valued in the gambling industry. The requirement to get a Denmark gaming license is quite a lot, so the waiting time is longer. Danish gaming issues more than 40 licenses, including pool betting, online casinos, and lotteries.
Jersey
A license from the Jersey Gambling Commission is also among the credible ones in the industry, but you also need to fulfill several requirements, and the waiting times can be longer. That aside, you can get the Jersey Commission license for online gambling, casinos, poker, and lotteries.
Romania
The Gambling Commission of Romania and the Ministry of Finance are the two regulatory bodies that control the gambling industry in Romania. And you can get licensing for poker, table games, bingo, slot machines, sweepstakes, and online gambling.
The requirements from this gambling commission are also quite a lot, meaning you have to wait more than a few months to get the license.
Montenegro
The Montenegrin Gambling Law issues gaming licenses for slot machines, bingo, table games, sports betting, bookmakers, and fantasy sports. To get a gaming license from Montenegro, you must fulfill several requirements and have five to six months to wait.
On the plus side, the Montenegro gaming license has several benefits, including low taxes and robust online security.
Conclusion
For prospective online casino operators, a gambling license is a critical requirement to set up the establishment.
A license from a credible gaming authority can cover more than the legal aspects – low taxation, opportunities to expand to a global audience, and quick processing times, just to name a few.
However, even if you are not looking to run an online casino, a good understanding of the gaming license can be invaluable in helping you decide which are the best casino sites online casinos that offer safe games.
