Owning a gambling license is a requirement for starting an autonomous online casino. Moreover, once the license is achieved, the casino’s owner can set up a solid financial infrastructure and cooperate with software and game content providers, which will improve the owner’s reputation and increase the trust of potential players.
Do you need to obtain an online casino license? COREDO is here to assist and answer all your questions.
The eligibility to engage in opening an online casino directly depends on obtaining a gambling license since having it is a minimum requirement. Having a license additionally prevents the casino from having problems with the law enforcements. However, these are not the only pros. Here are other advantages:
- Helping the casino to improve its status and reliability and loyalty among clients;
- Enabling advertising to boost the results and increase traffic;
- Having an opportunity to use licensed software and content from legitimate suppliers;
- Starting a bank account or processing electronic payments on behalf of a gambling company.
Nevertheless, it should be considered that not all countries provide a gambling license. That is why it is worth starting the process of obtaining the license from determining a fitting jurisdiction under which the online casino can be opened. Usually many jurisdictions offer similar conditions and requirements for individuals desiring to gain the license. The differences in the conditions can be related to the time required for processing applications, the cost of licensing services, requirements for software manufacturers or other.
Requirements for getting a license
There is always a list of conditions to fulfill for the gambling establishment provided by the regulator. Even though jurisdictions may vary, generally this list is valid for most of them:
- Learn about all available jurisdictions that offer an opportunity to obtain a gabling license and the conditions they present like cost, tax policy, issuance;
- Select the suitable jurisdiction;
- Ensure that the chosen software conforms to the requirements of the selected jurisdiction;
- Register the gambling company in the chosen jurisdiction;
- Get ready the needed documents;
- Prepare documents related to the software used by the company;
- Verify that the gambling site and posts there corresponds with the conditions of the jurisdiction.
Overall, the process of obtaining a gambling license can become quite time and work consuming. The whole procedure can take from 2 weeks up to 6-12 months depending on the approach of the regulator. It also requires from the applicant some devotion, certain required materials, and time.
Gaining a gambling license with COREDO
The support of specialists can be very helpful while preparing a complete set of documents for the license application. Professionals in COREDO can help you choose a fitting software and jurisdiction as well as provide advice about every step of gaining a gambling license.