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How to Get Online Casino License at Vegas Aces
Laws are crucial for any business, whether physical or virtual. The gambling laws are pretty stringent to protect both the operators and the gamblers. Obtaining a license is one way that casino operators ensure to follow the set guidelines.
There are many types of online casino licenses and info on how to get online casino license. Once you obtain one, you can operate in many countries as the license providers have jurisdictions in many countries. In this article, we discuss the common types of online casino licenses.
The Malta Gaming Authority is one of the most recognized in Europe. When you obtain a license with them, you can operate the online casino business anywhere in Europe.
Malta issues four classes of casino licenses. For class one, operators can organize games of chance whose results are determined by a random number generator. For class two, operators can organize games whose result is determined by the outcome of a live event.
For type three, operators can organize games of chance like poker. Type four permits operators to organize games that require specific skills from the gamblers, like video gaming. If you want to know how to get online casino license, you can access their webpage for an easy guide.
Curacao Island is famous for the fact that they do not charge taxes on gambling profits. Also, an online casino license takes approximately two months to be processed, the fastest time possible.
Operators are however required to set up their operational servers in the island’s territory. The best part is that operators are allowed to organize all gambling games with a single Curacao license.
The Gibraltar license is one of the cheapest in terms of taxes at a 1% rate. Once you obtain the license, it is operational for five years. A five-year operating fee of 100,000 euros applies for the Gibraltar license.
Even though the amount for the license seems to be high, the low tax rate makes it appealing to investors. The revenue collected by online casino operators ranges from 85000 euros to the minimum.
Do you know how to get online casino license like Alderney? The processing time for an Alderney license is not more than six months.
Investors pay a fee of 17,500 euros to obtain an online casino license with Alderney. The license renewal fee ranges from 35,000 euros and depends on the casino’s revenue.
Belize is located in Central America between Guatemala and Mexico. The licensing board was formed in 1995.
You only obtain one license with Belize to operate all gambling activities, including online casinos. The annual fee for the license is USD 15,000. The licensing board demands a deposit of USD 500,000 from the investors as collateral for any fraudulent activity.
The Kahnawake Gaming Commission is based in Quebec, Canada. It was established in 1999. Investors pay a fee of USD 40,000 to obtain the license, with an additional 15,000 as a software inspection fee. The annual renewal fee is USD 10,000.
The Montenegro online casino license is probably the fastest you can obtain and it’s one of the simple if you want to know how to get online casino license. You can acquire the license in two days if you meet all the requirements.
A comprehensive package of services valued at 25,000 euros is all you need. The package attracts an annual maintenance fee of 15,000 euros.
Isle of Man
It is based in the Irish Sea. The licensing commission started issuing licenses to online casinos in 2001. The licensing board issues the license within six months of application.
The first payment for the license is 5000 euros while the annual renewal fee stands at 35000 euros.
These are the most common online casino licenses. You can decide which one best suits you when you understand each of them in-depth. Remember, if you want to know more about Vegas Aces, check our social media and be aware of every news.
FAQs How to Get Online Casino License
There are two types of gambling; chance-based and skill-based gambling. You can learn how to get online casino license like the two from legit online sources.
Yes, online casinos are legal, but operators must comply with the regulations set in their jurisdictions, like obtaining an operating license.
Malta, Curacao, Gibraltar, Alderney, Belize, Montenegro, Kahnawake, and the Isle of Man.