A casino licence is a document authorising an entrepreneur to operate an online gambling business. Gambling is one of the activities subject to licensing. The very notion of licensing, of course, is not limited to gambling business and implies a whole complex of measures to issue or revoke a license, control activities of the enterprise, which received a license, for compliance with all relevant regulations, conditions and requirements of licensing.
However, the license for online casino is not mandatory. It allows the legal operation of the establishment, to open bank accounts and legally conduct financial transactions. In the eyes of the general public, gambling affiliates, financial institutions and regulators, the rating of a licensed casino is initially high.
When considering gambling licensing, it is impossible not to mention all the different types of gambling licences that exist. The fact is that the entertainment industry is not limited to online casinos. Equally popular are betting shops, lotteries and other types of entertainment that fall under mandatory licensing. Therefore, offshore zones can offer four types of licences to interested entrepreneurs:
To issue a license in each offshore country a special regulating body is formed. Its functions include the development of requirements for obtaining casinoonline license. The main requirements, as a rule, apply to the accuracy and security of financial accounting, the possibility of audit, the functionality and quality of the gaming content, a detailed description of the company’s online casino operator.
Only a legal entity may become a license holder. The applicant for its receipt must not only collect and provide a full package of documents and required information, but also comply with the established requirements throughout the duration of the license.
We have already mentioned that the number of countries providing the opportunity to obtain gambling licenses amounts to several dozens all over the world. It is noteworthy that among them there are not only countries, traditionally considered as a comfortable offshore zone for various business activities, which use licensing for money to develop their own economy.
As mentioned, an online casino licence can have different jurisdictions. There are about 80 countries in the world today that offer this type of service under certain conditions. The price of a gambling licence has a wide range. The highest cost of licensing is in European countries.
When choosing, one should pay attention to:
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