Before the 17th century, many gambling activities were considered illegal by the authorities. The Ridotto casino in Venice was the first legal casino, established in 1638. Casinos have sprung up all over the world since then, subject to laws and licensing from their domiciled countries. When online casinos emerged in the mid-90s, governments were forced to reevaluate their policies and create licensing bodies with a global reach. As a result of the Free Trade and Processing Act of 1994, Antigua and Barbuda became the first country to issue such a license.
Many commissions and authorities have been formed since then with the sole purpose of issuing casino licenses. The best licenses ensure user data protection and promote a friendly gambling environment. Casinos may also consider the license fee, how long it takes to obtain it, and which countries it is accepted in before acquiring a license. It is also possible for casinos to operate with more than one license. You can find an overview of new online casino licenses here. We will discuss the most sought-after casino licenses in different countries in this article.
- UK Gambling Commission license
- Curacao eGaming license
- Malta Gaming Authority license
- Kahnawake Gaming license
UK Gambling Commission License
The UK Gambling Commission was formed in 2005 after the British parliament passed the Gambling Act. Upon the demise of its predecessor, the Gambling Board, it became fully operational in 2007. The UKGC license was issued solely to protect gamblers from the rampant exploitation of casinos in the UK. Casinos cannot be established in the UK without a permit, which is highly regarded within the gambling circles of the country. The UKGC license is therefore required by 95% of all casinos in different countries, including Britain, Wales, Ireland, and Scotland.
Curacao eGaming License
Curacao was one of the first nations to offer online casino licenses in 1996. Curacao’s eGaming license is the easiest to acquire due to its few requirements. After an application is submitted, permits are issued within one week. Due to its low cost, the license also saves casinos money. It has no VAT and charges casinos a paltry 2% commission on their gambling profits. Aside from that, the Curacao Gaming Authority has fewer bureaucratic processes than other commissions and authorities involved in casino licensing. Curacao’s master license package is what differentiates it from its peers.
Malta Gaming Authority License
Gambling is synonymous with Malta Island. In 2001, it began issuing licenses to casinos, and it is considered the gold standard of licenses in the gambling industry. A Malta gaming authority license allows casinos to operate almost anywhere in the world. However, obtaining this license is not an easy task. Unlike other providers, the license application process takes a longer time and is more complex. Prospective licensees are required to submit a detailed business plan with key operational requirements. This proposal is then reviewed by various stakeholders in the gaming authority before a license is issued.
A B2B license and a B2C license are available from the Malta Gaming Authority. A B2B license is issued to casino games software providers, while a B2C license is issued to online casinos. Every European Union country recognizes the Malta license, which comes with a 5% gambling revenue tax.
Kahnawake Gaming License
After the Kahnawake Gaming Law was passed in 1996, the Kahnawake Gaming Commission was established. In 1999, the commission began licensing casinos. In spite of its origins in asserting aboriginal rights, the commission has earned a reputation and respect throughout the country.
Kahnawake gaming licenses are used by more than 250 gaming sites in Quebec. A low-cost application process takes about 4 to 8 weeks. Moreover, all gambling revenues are tax-free under the license.
Casinos with this license are constantly monitored by the Kahnawake Gaming Commission to ensure fairness.
Conclusion
The right license can mean the difference between a casino making millions of dollars or closing its doors. Based on pricing, prestige, and ease of access, this article has outlined the best. To determine what license best suits their needs, casinos should do their research before applying.
