Tag Archives: countries

6 Steps to Obtaining a Gambling License

December 12, 2018   Game type   No comments

The timing for starting an online gambling business is perfect. Surveys show that if you follow all the necessary procedures and do things legally, you are bound to get good profit. But before all the fun starts, you need to obtain a gambling license. Here you can get the general idea about what you will have to go through.

• 1. Start with creating a business plan to estimate the expenditures and expected profit. This will not only help you to see where you stand financially, you will also need this information later.

• 2. Find a good casino software provider. You have to take this step seriously, because later you will have to submit a certificate that the software you intend to use will not malfunction and won’t be used for cheating. Such certificate should also be issued by a reputable company or some qualified institution.

• 3. Choose the jurisdiction you want to obtain your gambling license from. Online gambling licenses are issued in a relatively large number of countries. But just as some animals are more equal than others, not all licenses turn out to mean the same thing for both online casino players and governments of those countries you may want to promote your gambling services in. The reason for this is the difference in requirements for obtaining a gambling license in different countries. Some are known to be rigorous and obtaining license from them can become a painstaking process. However, their approval will make you look like a trustworthy online casino operator, which you are going to become, aren’t you?

The list of such countries can be found at the UK Gambling Commission website. It is also often referred to as the White List which obviously means that licenses issued by these jurisdictions will be favored.

• 4. Depending on the requirements of the selected country, you will need to provide documents about your (and other investors’) financial status, police record from the permanent country of residence and a sort of money investment plan (mentioned above). So your next step is getting these papers ready.

• 5. You can submit your application for a gambling license via a local representative (it can be your attorney or an accountant) to the representative of the appropriate establishment.

• 6. And then you wait. Your application will be reviewed in accordance with the piece of legislation that sets out conditions for granting a license. You may find it interesting to also learn from this document about the reasons for gambling license revocation. As it was mentioned above, players tend to trust licensed casino operators, because they know that gambling license involves regular assessment of the casino’s conduct. So there will inevitably be a list of rules you will have to follow in order to keep your license if you get one.

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Why Legalisation Of Online Casinos Is Such A Problem

September 12, 2018   Game type   No comments

Online gambling is a multi-billion dollar industry. If you look at statistics page on some of the most popular casino websites, you’ll see astonishing figures. The overall amount of money paid out to players within just one month is almost 32 million GBP. This means just one site pays out over 1 million per day, over 50,000 per hour. If you consider the fact that people lose much more often than they win, the amount of money that online casino operators should get is unbelievable.

Now can you imagine the government officials watching this turnover and not wanting to dip their fingers into the pot? Certainly not! If something can be taxed, it should be taxed. The funniest thing is that online casinos appeared before the online gambling law was invented. Thus, the industry was regulated by some of the older rules that were more or less applicable to a new type of entertainment, while some of the aspects remained literally uncontrolled.

It is nearly impossible to supervise online casinos for one simple reason: it’s hard to control anything on the web. Yet, the government wants to benefit from the successful business – tax the casinos and tax the winnings. But politics is a tricky thing; the head of the state can’t just appear on one the morning TV shows and say “Dear fellow countrymen, from now on you’ll have to pay!” It’s not medieval times when things like this could have been done easily (without the TV bit, of course). However banning something that can affect the government’s plan is simple.

That’s what we see happening in the United States. It is obvious that officials are playing their own games while millions of people can’t afford to do something that is perfectly legal in other civilised countries. The government is interested in making online gambling legal, but they want to make maximum profit from this legalisation. Without any doubt, there’s huge money involved and casino operators will have to pay a lot before they will be able to officially start paying taxes.

While gamblers in most European countries can pretty much freely enjoy an online poker tournament or online roulette, some EU members try to outlaw online casinos that operate outside the borders of their state. The reason never changes – it is money. They don’t want online gambling to be run along the same guidelines as the free market that operates throughout the EU, because in this case their state-owned online casinos will have to compete against foreign casinos. Well, as long as at least local sites are accessible, Europeans will probably not get too upset by these restrictions.

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