Popular Online Gambling License Jurisdiction to Consider
by Silveredge Casino Best Online Casino Game - Silveredge CasinoWith so
many options available for online gambling licenses, it becomes quite difficult
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United Kingdom Gambling Commission (UKGC)
This
organization, which oversees gambling regulation in the UK, issues various
licenses based on the activities of a company. Five distinct types of remote
betting licenses are also included in this list, along with a variety of
intermediate and industrial licenses (two of these licenses are required, for
example, to accept sports wagers on both live events and virtual events). One
drawback of the United Kingdom Gambling Commission license is that operators
will need to seek for separate licenses for each if they later wish to grow
into other iGaming-related industries.
The UKGC also has
some of the world's longest licensing processes, which may last up to 16 weeks.
Additionally, in recent years, the regulatory body has been tightening the
rules on what businesses in the country are permitted to do.
Therefore, why
bother try to get a UKGC license? The UK, which generated a $2 billion gambling
return between October 2011 and September 2012, is one of the major
contributors to the worldwide gaming business. There is your answer. Prior to
2014, the UK had a more permissive internet gambling laws, allowing businesses
from so-called "whitelisted territories" (such Malta and Gibraltar)
to promote and take bets from British citizens.
As of 2014, owing
to regulation changes, anybody wishing to enter and advertise in the UK must
possess a UKGC license. Online casinos continue to gain licenses here despite
the onerous legislation in the UK and a trend of rising regulatory pressure
because of the lucrative nature of the UK iGaming industry.
Curacao
License
The online
gambling industry has a substantial presence on the tiny Caribbean island of
Curaçao. This is mostly due to how easy and affordable it is to obtain a
license.
This is how it
works: there are master licenses and sub-licenses. At one of the four master
license holders (which have been set since 1996), new operators can apply for a
sub-license. The master licenses are renewed every five years, and the
sublicenses have the same duration of validity. The main advantage of this
model is that it just calls for one license to cover the whole iGaming sector,
including internet casinos. In contrast, several licenses are required to offer
various sorts of gaming in nations like the UK.
In terms of cost,
the Curaçao license stands out in particular. Each of the four master license
holders pays an annual fee that varies, but is often close to $5,000. In
addition to the one-time application price, which is close to $2,000, there are
a few minor expenses.
Additionally,
Curacao charges a 0% corporate income tax and a 2% net gains tax. It takes as
little as six weeks to receive a license from Curaçao. There are, however, a
few noteworthy drawbacks. Casinos with a Curacao license forbid players from
the United States, France, the Netherlands, and Curacao itself. Overall,
because to how simple and quick it is, Curacao is a fantastic choice for many
new companies.
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Created on May 14th 2023 13:11. Viewed 86 times.