Online casinos are growing every day. So the first thing to keep in mind before playing online is to know your country’s gambling laws. Because in some countries there is no law that regulates online gambling. This does not mean that it is illegal, but that gambling in that country is not regulated. As there is no worldwide law regulating casinos to make them safe and legal, each country develops its own gambling laws.
How to know if an Online Casino is Safe
To make sure that a casino is secure online the first thing we need to find out is the license you own. Normally this information is provided at the bottom of the casino with the seals of the national or international regulatory bodies. These organizations impose high requirements on operators.
If gambling is not regulated in a country and is not illegal, online casinos can operate in that country with an international license.
If gambling is regulated in a country, licenses are usually granted by a state agency. Thus, the General Direction of Gaming in Spain is the orgnism of the State that grants licenses for online casinos to operate in Spain legally.
The same happens in Colombia, where Coljuegos regulates the operators who wish to carry out their activity in the country. Licenses can also be granted by provincial authorities, as is the case in Argentina. In short, safe online casinos are those that have a national license in countries with regulated gambling or international in the rest of the countries.
International Casino Licenses
Some countries differentiate licences according to the type of establishment. For this reason, they grant different licenses to casinos, gaming clubs that only have slots, bingo halls, recreation centers, etc.
In the UK, for example, online casino must have three types of licenses to operate. License to do business, license for staff and license for a gaming platform granted by local authorities. In addition, the United Kingdom grants different licences according to the types of slot machines and their level of bets and prizes.
- Malta License
The Malta licence is granted by the Malta Gaming Authority (MGA). The regulator was founded in 2001 by the Lotteries and Other Games Act. Malta grants licences for all types of gambling. It is one of the first jurisdictions to pay serious attention to the online gaming industry. The regulator developed meticulous rules for regulating online platforms.
- Curacao License
Curacao eGaming Licensing Authority is one of the oldest regulators. Its license is recognized among operators thanks to its low price and low taxes. A single license is required for all types of gambling.
- Great Britain License
The UK Gambling Commission regulator was founded in 2005 and is one of the most prestigious jurisdictions. It grants licences for casinos, bingo, sports betting and other types of gambling. The organisation imposes quite high requirements on its operators.
- Kahnwake License
The Canadian regulator Kahnawake Gaming Commission The license granted since 1996 for online gambling, for suppliers of gaming software and for poker rooms.
- Alderney License
Alderney Gaming Control Commission was founded in 2000 and is dedicated to the regulation of the online gaming industry. The organization licenses two categories: the first covers gaming organizations, and the second covers transactions on gaming platforms.
- Antigua License
The regulator is the Antigua Directorate of Offshore Gambling, founded in 1994. The websites licensed by this body are on the white list of UK jurisdictions. The regulator grants two types of licences: for interactive betting (wagering) and for gaming.
- Costa Rican License
It is granted by the Costa Rica Gaming Commission. In Costa Rica there is no strict legislation on the gaming industry and companies are not verified or proven in any way. The Costa Rican license is often used by casinos of dubious image.
- Isle of Man License
Licences are granted by the Gambling Supervision Commission (Isle of Man) founded in 1962. This is where one of the most detailed and precise legislation for the gaming industry was developed. Full licenses are granted for the business, sub-licenses (if the holder works with only one supplier), network licenses (if the games are provided to foreign users).
- Panama Licenses
The Panama Gaming Control Board has been granting licenses for all types of gambling since 1998. The granting of licenses in the gaming industry determines in many aspects the transparency and efficiency of the gaming business in the state. A well elaborated system with reasonable payments and taxes always favors the development of a legal gaming industry.
How to obtain a game license
Normally, in order to obtain a license, the operator has to meet certain requirements and submit certain documents.
The requirements often include:
- The operator must have an office in the territory of the country in which the license is obtained.
- In some countries the operator is required to be registered as a public limited company. In others the license can also be obtained by a natural person.
- Often the operator has to have a certain amount of insurance capital in order to secure payments to its customers. This requirement is also valid for virtual casinos.
The operator has to check its good economic condition and reliability. Documents usually include information on the legal or natural person, its accounts, various certificates and reports (e.g. on insurance capital). Sometimes the description of the games provided and their rules are included.
In order for an online casino to be legal in Spain it must be based in the EU economic zone and be registered in the Spanish Commercial Register. Foreign companies can be registered in the corresponding register in their own country and in the General Registry of Gambling Licences. In addition, each local authority is responsible for gambling within its autonomous community. Catalonia is the autonomous community where most gambling takes place.
Cost of licenses
Normally the State sets the cost of the license that an online casino has to pay. Sometimes after paying the license, it is necessary to make monthly or annual payments. In Spain the price of a license for betting and other games is about 100.000€.
In some countries it is not necessary to pay a license. For example, in Luxembourg you do not have to pay for the license, but it is necessary to explain in detail that the introduction of a new operator will not disturb the current balance between demand and supply.
Legal Online Casinos
Countries with legal online casinos devote special attention to the regularization of this sector. The rules of activity of gaming portals and access to them are regulated at the legislative level. According to statistics, the market for online gambling grows by 8 to 15% per year.
This is due to various factors such as the legalisation of online gambling in countries where it was previously banned, the emergence of new operators and providers of gaming software and the opening of new virtual casinos.
Taxation issues are dealt with differently in each country. The organizers of gaming entities are obliged to make various payments and license fees. The rules of taxation of players vary from total or partial release of deposits to payment of income tax.
The number of states banning Internet gambling decreases with each year. Considering the prospect of the development of the gaming industry and the possibility of increased public revenues, governments give way to the online gaming industry. The legality and organizational rules of the virtual casino activity are determined by the legislation of each particular state.