Gambling licenses are indispensable for casino operators to operate legally. There was a time when gambling was illegal but with the Gambling Act of 2005 casinos became legal along with any wagering platform both online and offline, but with an utter necessity of getting licensed. An offshore gambling license is considered necessary while setting up an online gambling business.
These licenses provide an operator with security, financial stability, the trust of the players, and enable the operator to work with the best software providers, banking providers, and many other benefits. To read more about features, games, and offers of reputable offshore sports betting sites visit NonGamstopBets.com. Those providers work remotely from their respective countries but the operation takes place without restrictions imposed locally, hence it is a win–win situation for the operators. Although it is important to understand the mechanisms of these offshore gaming sites, we describe the most popular ones.
Curacao eGaming Authority
Curacao license provider operates under the name Curacao eGaming Authority which is known to be among the oldest in the licensing industry. They have been operating since the year 1996, hence not just popular but a reliable source for most of the operators and customers in the industry. To obtain a license, one must place a request addressing the Curacao Ministry of Justice.
It is mostly known for its cost-effectiveness as they charge as low as 4% annual fee over profits. The best-rated sites hold the license from Curacao. Apart from the fact that Curacao eGaming provides an ever-improving legislative system. There is no charge of VAT and no tax on bets. It is to be mentioned there is a strict anti-money laundering legislation forced upon Curacao and providers are forced to abide by similar policies.
Malta Gaming Authority
Malta, a European Union Member State, operating under the name Malta Gaming Authority is now considered as one of the most revered online gambling licensing jurisdictions. it has been in operation since 2000. Apart from being license providers to some of the most popular gaming operators, but also home to necessary service providers like software developers, game developers, and so on. Some recent changes were made to improve their services.
The process was made more efficient and the fee structure was improved. It is considered a lot cost-effective compared to the status it carries. Licensees can enjoy fiscal advantages and other benefits regarding belonging to a European Union Member State.
Gambling License Costa Rica
Costa Rica is best in infrastructure when it comes to online casinos available in the region of the Caribbean. The highlights of its features include the workers being able to speak in several languages, the strong and reliable telecommunication system, and the dearth of imposed Internet and gaming regulations. Costa Rica is among the most popular license jurisdictions because it does not require one to obtain an additional license since there is no prohibition on gambling.
There is no concept of online gambling license in Costa Rica, they are provided a license of data processing. It’s a birthplace of over 200 online wagering companies devoid of a legislation operation online. One requires an office lease contract, a health permit, and insurance for workers to apply for the license. A license obtaining duration ranges around 3 months in Costa Rica, which is considered a relatively fast process.
Kahnawake Gaming Commission
Kahnawake provides licenses to numerous online casinos under the identity of the Kahnawake Gaming Commission. It was established in 1996 and has been operating with a high degree of popularity ever since. The Commission holds the power to control and regulate the gaming process and other activities from their regional boundaries.
Their best features include the cost-effectiveness and the simplicity of the process of generating a license. There is no imposition of additional gaming tax or income tax on the profit generated outside of the territory. They are known to take complaints very sternly and actions are swift against the ones breaking rules. Kahnawake Gaming Commission is very vigilant against fraudulent practices. Talking about the process duration, it takes a processing time of 4-8 weeks and if supported by an ample amount of valid documents, and 4-8 more weeks are usually required to get approval.
Arriving At Conclusion
Standards and policies differ from one licensing authority to another. But it is important to know every detail about each authority so as to make an informed choice because in our contemporary world a gambling operator need to have a gambling license if it wants to play legal.. As evident from the discussion so far, each of the authorities has its share of pros and cons.
What’s most important is the legality and validity of the licenses across geographic borders. A provider or Casino would definitely opt for a license that is considered legal in most countries across the globe.