The first step in opening an online casino is obtaining the appropriate gaming licence. The permission issued by the special gambling committee is valid proof that the ongoing business is legitimate and the winnings payouts are guaranteed. The gambling licence is required for any gambling activity, including games with bets or luck: slots, poker, roulette, lottery and sports betting.
In order to keep the gambling industry transparent, each jurisdiction has a set of rules and regulations that are codified by law. In order to obtain a gambling licence, the operator should be compliant both with the law and the licence conditions. E.g. for Curacao it’s National Ordinance Offshore Games of Hazard.
The number of rules and restrictions an operator needs to follow may also differ depending on the jurisdiction. For Curacao it includes:
Any kind of enforcement activities is usually taken to protect the gamblers and keep the high standards of quality and transparency in the e-gambling industry. It may include formal enforcement, financial penalties, licence suspension, and criminal enforcement.
Non-compliant Curacao gambling licence holders usually experience administrative fines. However, various sanctions (including imprisonment) may be applied.
Each jurisdiction has a regulatory body, which regulates the gambling industry in each particular country and grants/denies licences. The legal names may be different (e.g. gambling commission, gaming association, gambling board etc.) depending on the country but the umbrella term is Gaming control board.
For example, UK Gambling Commission and Curacao e-Gaming Licensing Authority are both gaming control boards.
The Curacao e-Gaming Licensing Authority has received a responsibility to regulate an online gambling industry from Curacao Ministry of Justice in 2002. Before that, it was controlled by the Curacao Gaming control board.
Getting a licence is a crucial step. Gambling business is a specific niche area that is not favoured in all countries, to say the least. Therefore, in order not to violate the local law and be able to conduct a legal business, it is vital to have a licence that grants permission from a relevant jurisdiction, a jurisdiction that is more loyal to online casinos. Each country has its own requirements, as well as the cost of the licence. One of the most profitable and reliable options available today is in Curacao, where you can get a gaming licence for an online casino remotely.
The Curacao licence registration procedure is performed if all the necessary requirements are initially met, including the opening of a local company within the territory of the relevant jurisdiction.
In some other cases, the paperwork for a gambling licence can take up to a year. GamingLicencing offers expert help of professionals, who are already familiar with all the nuances of licence registration process in most reliable and stable jurisdictions.
GamingLicensing is your right-hand man in the process of establishing a licenced online casino operation with stable foundations and promising future. The cost of starting such an operation is represented in the table below:
GamingLicensing also formed several essential partnerships that are important for the company’s daily operations. Our partners make it possible for us to offer top-notch services to our clients.
Let’s take a look at them: