Overview of Popular Online Gambling License Jurisdiction
by New Funclub Casino Online casino-New Funclub CasinoWith so many possibilities for online gambling
licenses, it may be challenging for businesses to choose one and for gamers to
trust one. Here are some details on the various online gambling possibilities
that may be researched and used to make wise decisions. New Funclub Casino 2023 has
chosen one of the licenses to make the platform secure and trustworthy.
United Kingdom Gambling Commission (UKGC)
This is the
organisation in charge of regulating gambling in the UK, and it grants a
variety of licenses depending on what a business is doing. These include a
variety of intermediate and industry licenses as well as five different types
of remote betting licenses (for instance, accepting sports wagers on both
actual events and virtual events needs the ownership of two such licenses). One
disadvantage of the United Kingdom Gambling Commission license is that
operators who afterwards want to expand into other iGaming-related areas will
have to apply for separate licenses for each.
Additionally,
the UKGC's licensing procedures, which may take up to 16 weeks, are some of the
longest in the world, and in recent years, the regulatory body has started
tightening the restrictions on what operators in the nation are allowed to do.
So why even
apply for a UKGC license? One of the biggest contributors to the global gaming
market is the UK, which between October 2011 and September 2012 produced a
total gambling yield of $2 billion. Your solution is there. Prior to 2014, the
UK had a more lenient policy toward online gambling, and companies from
so-called "whitelisted territories" (such Malta and Gibraltar) were
permitted to advertise and accept bets from Britons.
Anyone who
wants to enter the UK market and advertise there must hold a UKGC license as of
2014 due to regulatory changes. Due to the lucrativeness of the UK iGaming
sector, online casinos continue to obtain licenses here despite the burdensome
laws in the UK and a pattern of increased regulatory pressure.
A little
Caribbean island called Curaçao has a significant presence in the online gaming
sector. This is mostly because getting a license is simple and inexpensive.
There are master
licenses and sub-licenses, which is how it operates. At one of the four master
license holders (which have been set since 1996), new operators can apply for a
sub-license. Sublicenses are valid for the same period of time as the master
licenses, which are renewed every five years. The key benefit of this
arrangement is that only one license is required for the whole iGaming industry
for online casinos. In contrast, different licenses must be secured in
countries like the UK in order to offer various forms of gaming.
The Curaçao
license particularly excels in terms of price. The annual cost for each of the
four master license holders varies, but it is often around $5,000. There are a
few lesser fees in addition to the one-time application fee, which is close to
$2,000.
Additionally,
Curacao levies a 2% net gains tax and a 0% corporate income tax. A Curaçao
license can be obtained in as little as six weeks. However, there are a few
notable negatives. The United States, France, the Netherlands, and Curacao
itself are all prohibited from playing at casinos that hold a Curacao license. Overall,
Curacao is a great option for many new operators because of how easy and quick
it is.
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Created on May 14th 2023 13:00. Viewed 66 times.