Types of online casino licences

All the best casino sites have an online gambling license. The gaming commission license confirms online casinos’ legality and assures transparent and honest financial affairs. Licensed activity will allow establishing fruitful cooperation with game providers, open bank accounts, support operations with various payment systems, as well as increase the level of customers’ confidence. In addition, licensed online casinos receive various benefits, including tax relief.

General Rules for Obtaining Gaming Licenses

Special gaming commissions control the activity of an online casino. They put forward the same requirements both for gaming portals and companies doing banking:

• experience of the entertainment establishment’s owner and staff in the financial sector, which will ensure the stability of business development;
• impeccable reputation of the applicants;
• information about the structure of finances, employees, and partners of the company;
• business plan.

Some countries, such as Curacao, require a local server.

Internet Casino Licenses and Their Features

Best casino sites’ owners choose reliable jurisdictions, which licenses are recognized in various countries. Experts from fancasinos.com helped identify the most popular ones:

1. Montenegro. You can get a license in this country in just two days. You need to buy a comprehensive package of services worth €25000. The package maintenance costs €15000 for each subsequent year. A distinctive feature of the license is a low tax rate of 9%.
2. Curacao. You can get a general license for all types of games from the United Kingdom of the Netherlands within 6 weeks by paying a fee of €2000. Net income tax — 2%. The monthly payment amount is €1500. Lots of owners choose this type of license to increase the popularity of the best casino sites.
3. Malta. The country offers two types of gambling licenses: B2B — for game platform developers, B2C — for gambling operators. Within 4 weeks, the applicant receives a temporary license for six months. Then it is extended for five years. The tax rate varies depending on the income of the internet casino: from 1.25% to 0.55%.
4. Gibraltar. The cost of a license starts from €30000, depending on the type of gambling establishment. The validity period lasts for 5 years. The owner has to pay €2800 annually. Although the license’s cost is expensive, Gibraltar proposes a low tax rate of 1%. The minimum casino payout is £85000 per year.
5. Antigua and Barbuda. The island state issues licenses within 2 months even to non-residents, regardless of the casino owner’s citizenship. Registration costs €15000, the cost of an annual license is €100000. Later on, you will have to pay €25000 per year.
6. Alderney. You will get your license within 6 months from the date of application. The down payment is £17500. Renewal starts from £35000, depending on the income.
7. Isle of Man. The license is issued within six months. The online casino owner must pay an initial fee of £5000 and £35000 annually. Applicants who have a company registered on the island, a local director and a bank account can count on the gambling license.

If you want to know more about gambling for real money read this article.