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Quality casinos – iGaming industry licensing

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Conducting legitimate iGaming activities requires compulsory licensing. For this purpose, big players in the gambling business use offshore states. So, let’s find out how does casino registration take place and where is the best place to get a license?

In order to open and develop any business, special documents and permits are needed. Gambling license is one of the main documents, as the government is tightening the requirements for gambling companies. They believe that slot machines are dangerous enough for people because they can lead to addiction to gambling. Therefore, the gambling industry requires a license from all companies that want to legally provide their services including quality software providers.

Globally recognized software providers

Online casinos and licensing

In order for players to safely enjoy legitimate video slot gaming, a casino must provide all necessary documents, including a license. This is the only way to verify the legality of the gaming club’s activities. Since the game is played for real money, it is important for customers to trust the casino and feel safe.

Casinos, bookmakers, poker rooms, and lottery operators are required to obtain a license in order to operate in online environment legally. All companies, which relate to the provision of gambling services, are obliged to draw up all the necessary documents, you can find more information as well as licensed casinos here – https://qualitycasinos.com.

Where do gambling providers obtain a license?

To obtain a gambling license, companies can use offshore zones. It is in such places that the legislation is loyal to all gambling and allows the registration of such activities. Organizers can use offshore areas as a legit place for providing services worldwide, including in states where gambling is banned.

To open a gaming company in offshore states does not require much effort and money. These states are not large, so they need the influx of money as a tax from gambling. Some large casinos pay substantial sums for the opportunity to operate under the flag of an offshore state. There are several significant advantages to getting a license in offshores:

  • The casino owner can legally conduct his business.
  • There is no need to overpay in the form of high taxes.
  • Casino activities can be conducted internationally, in many countries.
  • The registration process does not necessarily require the presence of the owner of the company.
  • Offshore zones provide the fastest terms of registration of a casino.
  • Registration does not require reports and other additional documents.

Licenses can be issued by a number of countries, which have their own unique requirements for companies. There are certain conditions that must be adhered to, otherwise there is a risk of losing your license. Before choosing a particular state for registration, you should carefully study all the information about obtaining a license in this country. You should also familiarize yourself with the reputation of the offshore zone. The casino owner must find out how much to pay for each month of the license to conduct gambling activities.

What documents will be required to obtain a license?

There is a certain set of documents that are needed to obtain a gaming license for a casino:

  • The owner must write an application requesting a gambling license.
  • Provide verifiable information about the company that will engage in gaming activities, including address and phone numbers.
  • Make copies of key documents that confirm the identity of the founders of the company.
  • Need to prove the existence of an office or main building. Utility receipts can be used for this purpose.
  • Copies of documents that show the official existence of the firm.
  • Copies or bank statements that will show transactions with money.

Offshore states for gambling business

Jurisdictions of some countries allow you to open a casino license quickly and inexpensively. For example, the most popular are Malta, Curacao, the Caribbean Islands, Panama, and the Dominican Republic. The cost of the license may be from 5 thousand dollars. In some cases, the business owner will have to pay more than 40 thousand USD.

Some countries may refuse to consider a business application. Because Gibraltar accepts only those clients who have extensive experience in the successful operation of the business. After the registration of the license, gaming operators must pay a daily tax on profits.

But in Panama, managers will not be asked for any extra documents, and the tax rate is either minimal or it does not exist at all. Sometimes it is required that one of the owners of the company is a resident of the state where it is planned to register a business. After receiving a gaming license, the casino owners immediately come under the regulation of the laws of the country where the license is issued. He is obliged to obey the laws of that country, as well as to fulfill all its obligations. Otherwise, he may lose his license or face criminal liability.

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MiFinity enable N1 Interactive’s payment expansion

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MiFinity, the secure iGaming eWallet, today announced a new partnership with online casino operator N1 Interactive Limited. The MiFinity eWallet will now be available as a payment method for customers in some of N1 Interactive’s European markets across 37 brands.

As one of the most popular casino brands on the market, N1 Interactive offers a wide range of payment methods for players in different regions. MiFinity will be working with N1 Interactive to help increase conversions by providing players with their preferred payment method via the MiFinity eWallet.

Paul Kavanagh, CEO at MiFinity, said: “We have considerable experience in N1 Interactive’s key European markets, providing customers with localised payment methods via our eWallet. With over 40 integrated payment methods, we can significantly reduce the risk of a player abandoning the cashier across all N1 Interactive’s live brands.”

N1 Interactive added: “We’ve onboarded MiFinity because they offer a wide range of local payment methods in our target markets, as well as having an in-depth understanding of these markets. With their support, we can provide better service to our players and streamline the payment journey, increasing conversions and removing transaction barriers.”

With the MiFinity iFrame, brands like Casino Universe, Slot Hunter Casino and N1 Casino can provide players with the option to use their MiFinity eWallet within the cashier experience. Once players have signed up for a MiFinity eWallet, they can choose their preferred local payment method to transfer funds. Then, players simply select the MiFinity option directly in the cashier for deposits and withdrawals when playing online.

Paul Kavanagh said: “Removing unnecessary steps in the payment journey, such as navigating to a 3rd party payment page, positively impacts conversion rates. Similarly, providing players with localised payment methods, multiple currencies, and multilingual options reduces the risk of cart abandonment. Our iFrame does all this within the brand’s cashier, providing a seamless customer experience.”

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Affiliate Industry

ACMA Blocks Illegal Offshore Gambling and Affiliate Marketing Websites

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The ACMA has requested that Australian internet service providers (ISPs) block more illegal offshore gambling and affiliate marketing websites.

The sites include Casino Moons, Winnerama, Extra Vegas, Win Paradise, LegitGamblingSites and Gamblers Lab.

The ACMA investigated and found these services to be operating in breach of the Interactive Gambling Act 2001.

Website blocking is one of a range of enforcement options to protect Australians against illegal online gambling. Since the ACMA made its first blocking request in November 2019, 568 illegal gambling and affiliate websites have been blocked.

Over 170 illegal services have also pulled out of the Australian market since the ACMA started enforcing new illegal offshore gambling rules in 2017.

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Compliance Updates

Entain to Pay £17M Penalty for Online and Retail Failures

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Entain, the global sports betting, gaming and interactive entertainment Group, has confirmed that it has agreed a regulatory settlement with the UK Gambling Commission (UKGC) in respect of alleged historical licensing breaches. The regulatory settlement amounts to £14m in respect of Entain’s digital business and £3m in respect of its retail business.

Entain has entered into the regulatory settlement with the UKGC in order to bring the matter to a close and avoid further costly and protracted legal proceedings. Entain accepts that certain legacy systems and processes supporting the operations of its British business during 2019 and 2020 were not in line with the evolving regulatory expectations of the UKGC in respect to aspects of social responsibility and anti-money laundering (AML) safeguards. However, the Group also notes the UKGC’s statement that it found no evidence whatsoever of criminal spend within Entain’s operations.

The issues raised by the Commission relate to the period between December 2019 and October 2020, which predates the many changes in the area of safer gambling and AML that Entain has introduced. For instance, in 2021 Entain launched its Advanced Responsibility and Care (ARC) programme which, using revolutionary AI technology, operates in real-time and is individually tailored for each customer. The initial trials of ARC in the UK have shown a risk assessment accuracy of over 80%, a 120% uplift in the use of safer gambling tools by those most at risk and a 30% overall reduction in customers increasing their risk levels.

Furthermore, in May of this year, Entain was awarded the Advanced Safer Gambling Standard by GamCare, having evidenced the highest standards of player protection and social responsibility for its online and land-based gambling businesses in Great Britain.

As part of the settlement, Entain has also agreed to appoint a Board sponsor to oversee the implementation of any further improvements identified by the original 2020 compliance assessments and to undertake an independent audit of the relevant policies and procedures at a future date.

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