Online Casino Licence
Mar 23, 2020 To obtain a license, online casino operators must prove their financial solvency, deliver a business plan and be prepared to perform monetary transactions (e.g. Player credit card data processing and the payouts of winnings) exclusively through Gibraltar’s banks. Gibraltar online gambling license facts: Date started issuing licenses: 1998. Casino Licences. Casino licences are one of the key factors that make online casinos legal and trustworthy. In many countries gambling is accepted and is a major contributor to the economy of those countries. But there are nations where an act as simple as betting can get you in trouble as gambling is considered illegal.
CEGO, the operator of online casino brands Spilnu and Lyckost, is continuing its expansion into more regulated markets after being granted a licence to operate in Great Britain by the UK Gambling Commission.
This means CEGO will now be able to offer its premier online casino games in three jurisdictions, as CEGO already operates in Denmark and Sweden.
CEGO will continue with its strategy of providing games ideally suited to recreational players. This has been a key theme of slot game releases this year, including Diamond Express, Golden Pyramid and Safari.
The content can be adapted to make sure it is the perfect fit for the target market in each jurisdiction. With 80 per cent of its content being provided in-house, CEGO takes an organic approach to its offering and with minimal reliance on third-party software, CEGO can provide the best possible playing experience with bespoke, exciting games.
A majority of Spilnu’s revenue is generated from in-house games, with more than 80 per cent of GGR accounted for by proprietary content. This has allowed Spilnu to be extremely successful in the Danish market since its launch in 2012. Lyckost has been operating in the Swedish market since 2019 and has benefitted from implementing the same concept and foundation as Spilnu.
Casino Gaming License Requirements
Casino licences are one of the key factors that make online casinos legal and trustworthy. In many countries gambling is accepted and is a major contributor to the economy of those countries. But there are nations where an act as simple as betting can get you in trouble as gambling is considered illegal. An then there is a different situation with the Unite States of America where land based casinos and gambling is well received and thriving, whereas online casinos do not enjoy the same privilege compared to the land based casinos. Licensed online casinos are not considered illegal by the US government but banks and financial institutions are prohibited from processing online casino and gambling transactions.
More About Casino Licences
Casino licensing nations receive great boosts to their revenue as casino licensing also involves an application fee, a licensing fee, general tax, gaming tax and the annual license renewal fee. All these fees are why governments legalise gambling so that it can be both a profitable and controlled business enterprise. These applications can cost the license seeker anything from $10,000 and sometimes can be as high as $75,000 and more. One has to be able to judge that the casino license seekers are ready to pay the price no matter how high it can get as they are well aware of the riches that a casino can reap for them. Governments have also realised this fact and that has contributed towards terms in some licenses that guarantees a certain percentage of an annual percentage only if it crosses a certain profit margin.
Some countries offer the licensees tax exemption according to their gambling legislation. These are the jurisdictions that attract online casinos from all over the world. Some nations have even come together to share their servers which have left the rest of the countries working towards making laws that can permit casinos into their jurisdiction. The jurisdictions that provide an online casino license that are favoured by most of the leading online casinos are Alderney, Antigua, Belize, Dominica, Grenada, Isle of Man, Liberia, Costa Rica, Vanuatu, Malta, Anjouan, Bahamas, Canada (Mohawk territory), Gibraltar, Guernsey, Jersey, Norfolk Island, Panama, Seychelles and Curacao.
Gambling Licence
One community that differs a bit when it comes to gaming and gaming licences is the Native American casinos. This community follow gaming activities according to the Indian Gaming Regulatory Act. This Indian Gaming Regulatory Act is enforced by the National Indian Gaming Commission. But the Native American enjoys minimal internal control by the Indian Gaming Regulatory Act. But The National Indian Gaming Commission has no control over casinos that are regulated by the state.
Casino licensing makes it possible to check gambling activities so that illegal gambling and any other illegal activities like money laundering does not take place under the name of gambling. Licensing an online casino makes gambling safe and regulated.
For you, the online casino player, it is important that you only play at online casinos that are licensed. Licensed internet casinos usually list their licence on their websites so if you can’t find it, then please ask their support team.