HomeGadget Bridge AceWhat you need to get a license in the iGaming business?

What you need to get a license in the iGaming business?

Check it out below.

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Obtaining permits for iGaming is an important step when starting an online casino or a sportsbook . “In order to apply for a license, it is necessary to prepare an application for a license, copies of the company’s statutory documents, an audit document on the size of the company’s authorized capital, and pay all relevant fees. This complex process may be intimidating for some entrepreneurs, but in the long run the investment of time and resources pays off. This approach will not only pay dividends in the future, but is also important in terms of legislation compliance,” BetB2B experts commented.

Gambling regulation rules vary from country to country, but the license is a paramount issue for operators wishing to open an online casino.

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Application fees, license fees and taxes can be a significant burden on a casino’s budget and affect profits. Moreover, the process of obtaining a license in many jurisdictions is complex. Some try to avoid this process and the associated costs, but the benefits of licensing far outweigh the costs.

A representative of the world’s leading sports betting and online casino platform, BetB2B, emphasizes that it is important to think about the long term when obtaining a license: “iGaming  opens up opportunities for cooperation with financial institutions and quality game developers. It is also a sign of a reliable reputation, which is very important for players.”

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Licensing is one of the key indicators that determine the reliability of a casino. When choosing a site for registration, players are advised to pay attention only to legal operators who have the appropriate documents confirming their safety. The reliability of such information can be checked on the official website of the casino, where an active validator badge leading to the certificate is usually placed. When using licensed sites, users can be sure that they are playing on genuine slots created by trusted manufacturers and without the risk of scripted modifications.

International Jurisdictions Granting Licenses for Online Casinos and Betting Sites – BetB2B

Many governments require licenses from local regulators to run an online casino or betting websites. BetB2B clarified that there are offshore jurisdictions that issue iGaming licenses that allow attracting an international audience.

Such licenses are granted by Malta, Curacao, Gibraltar, Isle of Man and Kahnawake. Among the most common foreign regulators are the following:

Curacao Gambling Commission.

The organization issues licenses through companies that have the authority to license other operators. There are four master license holders in Curacao: Cyberluck Curacao, Gaming Curacao (GC), Curacao Interactive Licensing (CIL) and Antillephone.

Malta Gaming Authority (MGA).

The commission issues two types of licenses: for developers of gambling software and owners of online casinos. Companies wishing to obtain a Maltese license must be audited by eCOGRA.

Isle of Man Gambling Supervision Commission (GSC).

The regulator issues several types of licenses, including gambling and betting. The license obtained in the Isle of Man has no regional restrictions and can be used in any place where gambling is legal.

Gibraltar Gaming Commission.

“The territory of Gibraltar is considered one of the most respected jurisdictions, therefore only the best casinos that have already established themselves in the market, have a clear development plan and have permissions from other regulators can obtain a license on this island,” commented BetB2B.

UK Gambling Commission.

This regulator is the most stringent and expensive on the list. They  carefully monitor their  reputation and the reliability of licensees. The Commission issues three types of licenses covering a wide range of iGaming services, including live casino games, lotteries, bookmakers, software development and others.

After the operator has decided on the jurisdiction and has gone through all the bureaucratic processes to obtain a license, it is necessary to build an efficient infrastructure for business. A company can try to build its own platform from scratch. This is an extremely costly and time-consuming process. In addition, you will have to face a lot of mistakes and high competition from more experienced market participants.

Turnkey solution BetB2B will help you quickly and efficiently start working in iGaming.

IT solutions for betting sites with a license – Bet b2b betting platform

  1. Turnkey solution BetB2B is a comprehensive offer for betting and casino site operators, which includes software and the following products: Sportsbook with Virtual Sports, Toto, casino content: Live Casino, Slots, own games and others. Also includes tools as a back office system, content management (CMS), client relationship management (CRM) and 2-line support.
  2. CRM BetB2B is a tool for analyzing player activity, saving their preferences, providing relevant bonuses within advertising campaigns, evaluating the effectiveness of promotions, as well as providing detailed statistics and reports on key metrics, information about players, their rates, popular games and other aspects, as well as player segmentation, communication and alert settings.
  3. CMS BetB2B allows you to manage the content of the site, allows you to configure the location of its elements, create user profiles, manage access rights, and generate support tickets. The tool also provides the ability to manage banners, rules, promotional materials and create promotional landings.
  4. Affiliate program is a complete tool for creating your own affiliate network, including network setup and management, reporting and statistics, and flexible commission settings.
  5. Agent scheme is a multi-level agent program with flexible commission settings, available in several languages.
  6. Back-office is a tool that allows you to track financial flows, create various employee profiles and manage their access rights.

“Our ready-made platform demonstrates the highest level of quality services in the gambling and betting market”, note in BetB2B, – Therefore, any team working with our platform makes a minimum of mistakes due to our professional experience. We continue to support the client’s business even after the company has been launched, helping to grow the business.”

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