Some of the World’s Most Well-Known iGaming Licenses to Keep in Mind as a iGaming Operator
When looking at the different iGaming licensing authorities, every player has different preferences when choosing an online casino. Some prefer to play slots, while others prefer live dealers. You can also find players who do not enjoy fulfilling wager requirements.
Gaming licenses are essential in the iGaming industry. As well as regulating online casinos, the license ensures customers and operators stay protected against illegal activities. UK Gambling Commission and MGA are two of the most well-known licensing bodies in iGaming sector.
The UK Gambling Commission regulates casinos like Platin Casino UK, which guarantees players a safe, secure gaming environment. Here is a closer look at these iGaming license providers.
|iGaming Licensing Authorities||Features||Established|
|Malta Gaming Authority||It regulates most forms of gambling in Malta, including both land-based and online gambling services including B2C and B2B services.||2001|
|UK Gambling Commission||An executive non-departmental public body of the Government of the United Kingdom responsible for regulating gambling and supervising gaming law in Great Britain.||2007|
|Isle of Man’s iGaming License||The Isle of Man is an ideal jurisdiction for an offshore online gambling license.||1962|
|Macao’s Gaming Inspection and Coordination Bureau||The Macao SAR Government commenced the licensing procedures for the Junket Promoters through the Gaming Inspection and Coordination Bureau started from June 7, 2004.||2003|
|Spain’s Directorate General for the Regulation of Gambling||The DGOJ provides the license following a timely call for applications to run bets, contests and other gambling activities.||2011|
|Philippines Amusement and Gaming Corporation (PAGCOR)||It oversees the Philippine gaming industry through strict regulation of all persons, locations, practices and related activities. Other than land-based casinos, there are licensed gaming sites around the country offering the following: Electronic Games. Bingo Games.||1977|
|Curacao’s iGaming License||Egaming curacao takes care of issuing the gaming license to help you thrive in your operation with all-in-one solution for your business.||1996|
This article will answer these questions by examining the different entities that oversee the regulation and protection of the online casino industry. iGaming licensing authorities exist worldwide, but it can sometimes be tricky knowing which ones are the most reliable. Here’s our guide.
Latest iGaming Developers
1. Malta Gaming Authority
The iGaming industry in Malta has been a centre of excellence for many years. It’s not surprising, as their license is hugely reputable and offers access to a highly desirable European market. Malta was among the first countries to provide iGaming licenses, and it now offers four different types.
Using the first license, casinos can run games of chance with the results decided by an RNG (Random Number Generator). Casinos that offer slots and table games need this license. The other licenses allow casinos to use games such as poker, bingo, sports betting etc.
A long and arduous process is required to obtain this license. There are at least five stages, including several compliance audits, which can take up to four weeks to complete. If successful, a five-year license is granted.
2. UK Gambling Commission
A trusted and well-respected licensing authority is the United Kingdom Gambling Commission. There were notable changes in the UK’s online gambling environment thanks to the gambling act, making obtaining a valid license mandatory for any casino with a UK presence.
The UKGC emphasises KYC procedures, such as anti-money laundering and responsible gambling, so an operator hoping to obtain a license must follow stringent rules. They are one of the most complex and rigorous licensing authorities, so getting one of these licenses is not easy.
In addition, they are known for handing out massive fines to operators who don’t follow their rules. That doesn’t stop operators from trying, though, as once they obtain it, they will have access to the thriving UK iGaming market.
3. Isle of Man’s iGaming License
In 1962, the Gambling Supervision Commission was established in the Isle of Man, making it one of the oldest regulators in the world. Once online gaming became popular, the commission quickly adapted.
The low tax structure and long-term licenses have made it a highly sought-after option among operators. An Isle of Man license is very beneficial for operators of video slots and other casino games since it has no geographical restrictions.
Gambling firms operating in the Isle of Man have implemented legislation designed to protect their clients and benefit their businesses since 2001. High standards are enforced by the Gambling Supervision Commission, as the agency is known for ensuring that operators adhere to the rules.
Having been included on the OECD’s White List, the Isle of Man further solidifies its reputation as a top location for online gambling.
4. Macao’s Gaming Inspection and Coordination Bureau
Gambling in Macao has been legalised since the mid-19th century, when the government legalised it to boost revenue. Soon after, Macao established a licensed monopoly system, which lasted for over a century.
Only in 2002 did the Macao government lift its monopoly system, allowing gaming operators worldwide to submit applications to operate in Macao.
Besides issuing licenses for operators to operate in Macao, the Gaming Inspection and Coordination Bureau oversees operators to ensure they comply with all legal requirements.
Since Macao has very liberal gambling laws, all forms of gambling in Macao are permitted, including casino games, lottery, horse racing, sports betting, and poker.
5. Spain’s Directorate General for the Regulation of Gambling
The gambling market in Spain is probably the largest in Europe. Many factors are responsible for this, especially the clear and precise gambling laws.
The Spanish Regulator, Dirección General de Ordenación del Juego (DGOJ), enforces clearly defined laws across the country; therefore, both the casino operators and the players can be confident that they are complying with the law.
The DGOJ offers two types of license; a general license covers betting, table games, and contests, and a singular license corresponding to the games you wish to provide.
Applicants can only apply for general licenses during the period specified by the regulator. While the operator maintains the general license, they can apply for a singular license at any time.
6. Philippines Amusement and Gaming Corporation (PAGCOR)
The Gaming Sector in the Philippines is the second-highest source of revenue after taxation. Traditionally the Gaming Industry both in the Casinos and Online Gaming Sector has been controlled by the regulator cum operator PAGCOR (Philippines Amusement and Gaming Corporation).
As a regulator cum business operator, PAGCOR operates both casinos and limited online gaming websites. The land-based operations are mostly limited to PAGCOR approved Casinos and online operations to specialized gaming cafes.
The issuance of Philippines Online Casino Licenses is regulated under the Interactive Gaming Act, 2003. As per the provisions of the Act, the licensing process is regulated by the Cagayan Economic Zone Authority.
The Licensees also have to comply with the Interactive Gaming Rules and Regulations, 2004 rules regulations of the Cagayan Economic Zone Authority. A Code of Practice interactive gaming code of practice is also issued for the licensees to regulate their functioning.
7. Curacao’s iGaming License
The advantages of this small Caribbean island are zero percent tax on casino profits, fast licensing process (usually about 1.5-2 months) and low ongoing expenses. A casino owner has to place computing power (servers) in the Curacao territory.
Online gambling industry forms a great part of the island’s budget, which is why Curacao has such an appealing tax system. There is a 2% corporate tax rate and an appealing master license cost that does not exceed $150,000 but allows license holders to run all gambling verticals under a single license.
In the world of casino legislation, regulations are constantly shifting, so it is crucial to know the latest laws in your country. Some countries make obtaining an online gaming license difficult, but with good reason. The strict regulations are in place for the benefit of players and operators, so online gambling is safe and secure.
These licenses are generally trustworthy, and there are no restrictions as to where companies can offer services. As far as iGaming licensing authorities go, your players can be ensured betting at a venue with any of the aforementioned licenses all but guarantees safety.