Online casino licenses are one of the four most important pillars underpinning the burgeoning online casino industry. Casino licenses, together with regulators, auditors, and self-exclusion services, create a fair, legal, and safe online environment for punters to engage in online gambling. The casino licenses are the seal of trust that gives the players confidence to deposit their money with the online casinos.
Think about it: what’s to stop an online casino from taking all your money without offering any explanation?
The thing that’s keeping them in check is the rule of law established by the gambling regulator whose license is issued to the casino. The license is a hallmark of trust that demonstrates that the casino has fulfilled all the compliance requirements set forth by the respective gambling regulator.
As you can imagine, the license is only worth as much as the credibility of the laws, enforcement policy, and proactiveness displayed by the license issuing regulator. There are several reasons why you should play on licensed online casinos only, and here are some of them:
Not at all. Even licensed online casinos often try and do break rules. But, when that happens, the players may not have to rely on the casino’s mercy. They can complain to the regulator, and even sue the casino if they are not satisfied with the regulator’s response.
Again, not at all. Some regulators have an outstanding reputation for protecting the rights of the players. However, several regulators offer license only to attract tax revenue and do not care about player rights at all.
UKGC, Malta Gaming Authority, and Gibraltar Gaming Commission are some of the best regulators in the iGaming industry. Curacao and Costa Rica have the least reputation.
No. Licensed online casinos are generally required by most regulators to mandatorily separate their operating funds and player funds. So, even if the casino goes under, your money is still safe.
Online casino regulators have several core objectives. One of them is to ensure that the casino is not indulging in any money laundering activities, unlawful business practices, and unfair games. They ensure this by thoroughly verifying everything from the top management’s history and finances to the casino’s software.
No. But, new businesses can partner with license-holders to obtain their casino software and games as white label solutions, and offer the casino services under their license.
There are numerous authorities across the world with varying degrees of reputation that offer online gambling licenses to casinos. However, some regulators are a lot more popular than others, be it because of their player-friendly policies or casino-friendly laws.
Here are the top ones:
Every regulator draws up its own list of online casino licenses based on several factors that make the best sense to their local industry, potential tax collections, and regulatory environment. However, the following types of licenses are the most common types of gambling licenses:
While these are some of the standard gambling licenses, some regulators offer unique licenses that aren’t offered anywhere else. Take Curacao, for instance. Curacao government issues Master Licenses to businesses, and the Master License holders, in turn, can issue sub-licenses to other companies. Likewise, there are one-time event licenses, associate licenses, restricted use licenses, and so on.