In this article by GBO, we’ll explore the key factors that online gambling operators should consider when obtaining a gaming license and ensuring compliance with regulations.

 

By following these guidelines, operators can establish a legal and successful online gambling business.

GBO is a leading Curacao gaming service provider attending in conferences world-wide

Find out how we can help you obtain Curacao Gaming License

WhatsApp us: +972504938469, email us: info@gbo-il.com

    Read in Our Curacao Gaming License Guide:

    1. You are here – Online gambling licenses – How to keep the law and succeed at the same time
    2. Banking account requirements for online gaming businesses
    3. Curacao Gaming License requirements
    4. How to set-up and open an online casino business
    5. What licenses are necessary to run a gambling website?
    6. Online gambling jurisdictions and licensing authorities
    7. Where can you operate with a Curacao Gaming License?
    8. Recommended merchant accounts for online gaming businesses

     

     

    To keep your online gambling business above the law you can only operate with an official gambling license that applies to your particular jurisdiction, customers and activities. To do otherwise is against the law and in the long run operating an online gaming business without a license is a recipe for disaster. Online casino operators must have a gambling license that permits them to offer certain games and to market only to players in particular jurisdictions. There are many other restrictions and regulations that must be adhered to in order to maintain your license agreement. Gambling licenses bind the license-holders to laws and regulations in a particular region.

    Earn your Players’ Trust by Being a Gambling License Holder

    Players know that websites authorized to operate under an official gambling license are regulated and most likely legitimate. Having a gaming license promotes trust in potential players and results in returning customers.

     

    Internet Casinos Must Abide by the Law Just as much as Land-Based Gambling Businesses

    Land-based gambling has been banned in many countries over the last decade leading many casino businesses to move their activities online. This cuts out a major chunk of a land-based casino’s overhead; requires reorganization; new marketing strategies and adjustment to new laws and regulations. The laws for online casinos versus land-based casinos may be different but it does not mean online gaming businesses can avoid being licensed and regulated. A license may mean having to abide by the law but it also gains you protection from problems with the law. Getting a gambling license for your online gaming business is one of the first steps that needs to be done when starting a new internet venture.

     

    Gambling License Jurisdictions

    Licensing jurisdictions or online gambling jurisdictions are regions where there is specific legislation in place to license and regulate online gaming companies and industry service providers. In licensing jurisdictions, there is usually a government-appointed organization, Gaming Control Board (GCB) or similar authority in charge of internet gaming licensing and regulation. Without an officially issued gaming license online gambling sites cannot operate legally.

    Learn more: Compare the top online gaming jurisdictions

     

    How to Get an Online Gambling License

    Gambling licenses are issued by Gaming Control Boards (licensing authority organizations) that follow the licensing procedures laid out in the country’s legislation. These processes are in place in order to counter criminal activity and maintain high standards. The requirements for a gambling license vary in different jurisdictions but there are a few basic requirements.

     

    • Full disclosure of your online gambling company’s financial records and business structure – owners, partners, shareholders etc.
    • Details of your employees including criminal records and personal details.
    • Due diligence on the company’s beneficial owners, directors and executives.
    • Some jurisdictions ask to see an operational and marketing business plan.
    • Proof of good standing.

    These are only some of the conditions you will have to meet as an applicant for an online gambling license. The documents and information you will have to volunteer is comparable to those needed for opening a business bank account. These tough conditions and detailed analysis of your company are necessary to rule out any involvement in money laundering or other criminal activity.

     

    The licensing authorities also want to weed out businesses that are unlikely to succeed due to lack of experience, financial instability or no expertise. The application process can be arduous and time consuming. For this reason, it is now possible in some jurisdictions to apply for a license in multiple jurisdictions at one time.

     

    Living by the Licensing Authority’s Rules and Regulations

    The gaming authorities (Gambling Control Board, gaming commission or casino control board) usually create the rules and regulations dictating how gaming activities are conducted and treated within the jurisdiction. Laws also outline the regulations and licensing requirements for online gaming businesses, employees, owners, service providers and vendors. The online casino licensing requirements include details of marketing restrictions, gaming rules, bonus policies, auditing, accounting and other requirements.

     

    The Gaming License Application Process

    The licensing authority has all control over issuing licenses and regulating all aspects of online gaming businesses. Licensing authorities will request personal information from company owners in order to ascertain whether they are in good standing. During the application process business owners may be asked to provide details about their employment history, financial records, previous business collaborations and their criminal record. The application process for an online gambling license is complex and intended to root out criminal elements or unethical business people.

     

    Regulation of Online Gambling Businesses

    Online gambling businesses are regulated either by the Gaming Control Board or a separate body or division. Gaming Control Boards hold the power to adjudicate over civil cases brought to them by the body responsible for enforcing the gambling license regulations. These powerful government-appointed organizations are authorized to make and enforce online gambling regulations as well as granting or denying the right to a license.

    Recommended for you

    How to Buy an Online Casino Software: A Summarized Guide
    02.05.24
    Key Factors in the Decision Process Location of the Software Company: Local companies might offer better legal compliance and easier communication. Licensing and Certifications: Essential for legal operation and credibility. CRM Features: For managing customer relations and maximizing customer value. Game Variety and Integration: More...
    Isle of Man Gaming License: Process, Costs and Requirements for Guaranteed Success
    27.03.24
    At GBO, we provide comprehensive assistance in acquiring a Gaming License in the Isle of Man, ensuring a smooth process and successful outcome with our expert guidance. The Isle of Man is renowned for Welcoming the gambling industry, offering unparalleled support and innovative solutions to...
    Business Plan for Curacao Online casino
    14.03.24
    GBO's Expertise in Crafting Business Plans for Curacao Online Casino Licensing Securing a gaming license is essential for legal credibility in online gaming. GBO specializes in the gaming sector, guiding operators through the complex licensing process, especially for Curacao. A comprehensive business plan is key,...