Obtaining A Gaming License: Nuances and Peculiarities

Obtaining A Gaming License: Nuances and Peculiarities
License is the key and pivotal step for every legal operation and seamless business. Gambling industry complies with the same universal rules. Jumping onboard of gambling business should also be fueled with legal grounding. Hence every operator planning to launch a betting webpage is firstly recommended to consider thoroughly the nuances and peculiarities of the gambling licenses on the market and make an informed choice triggered by the needs and intricacies of the business. A myriad of factors usually determine which license can serve as an optimal course to the successful development of the enterprise. Players have more confidence in operators which have reputable licenses, since it is issued to committed and responsible operators.
Currently there are a number of jurisdictions granting a gambling permit. Let us throw a glance at some of the authoritative licenses on the market today and go over the advantages and drawbacks of each.
Curacao Gaming License
Curacao is one of the forerunners on the market. It was launched in Curacao in 1996 as the first nation to legalize gambling. Curacao license offers two types of permits:
- Master licenses – issued by the Curacao Ministry of Justice this type is quite rare, valid for five years, and is not meant for ordinary gaming business owners.
- Sub-licenses – operators willing to enter the market are advised to apply for sub-licenses which are issued not by the regulators, but rather by master licenses.
When it comes to the pros for applying for a Curacao license it runs as follows:
- It is the easiest license to obtain in terms of simple and straightforward process, in case the minimal documentation is at hand and well-prepared;
- Provided the documentation is in good order Curacao license is beneficial from a time perspective taking maximum two weeks;
- It has low-to-medium complexity level, calculated by the variety of KYC (Know Your Customer), due diligence and some other factors to be fulfilled;
- 0% of taxation and minimal ongoing obligations make it alluring for beginning operators and start-ups;
- It is budget-friendly;
- It has a comprehensive coverage, and one license permits to operate a sportsbook, online casino, poker room, virtual sports, lottery, bingo, crypto casino;
- It has restrictions regarding the countries where it is valid.
Malta Gaming License
Maltese Gambling system is controlled by the Malta Gambling authority. Malta has a long-standing and profound route in gambling and a thorough gambling regulatory framework. Being an EU member it issues a creditable and well-respected license to the operators.
Two categories of Malta gambling license:
- Business-to-business license
- Business-to customer license
The features of Maltese gambling license at a glance:
- Application procedure is more time-consuming and complex. The regulatory bodies perform more scrupulous check ups at every stage of application and operation;
- It has a higher cost;
- Multilevel taxation, high taxation based on the GGR;
- Players and operators have a high level of protection based on strict regulatory framework of Malta Gambling authorities;
- Malta jurisdictions has implemented all the steps aimed at Anti-money laundering risks;
- Being sanctioned by EU, Malta gambling license is a top reputable and authoritative license;
- Has a low restriction as related to geography and is invalid only on the markets where online gambling is illegal.
With the benefits and drawbacks discussed above we leave it to every operator to deliberate over the sensibility of drawing upon the particular license for running a thriving and safe business.
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