The gambling industry keeps growing day by day. There are currently hundreds of thousands of casinos around the world, so this market definitely requires some regulation and control. Here, you can’t do without certain laws and regulations that top casinos must comply with. And the licensing of gambling establishments comes in handy. Let's try to understand in more detail what an online casino license is, why it is needed, what advantages it provides, and what types of licenses exist today.
What Is A Casino License For?
A license is a special document that allows a company to conduct gambling activities legally in a certain state or territory. To obtain this document, a top online casino must meet a number of requirements and fulfill its obligations to its customers. In turn, having a license allows increasing the reputation and level of trust in the gaming club. It is for this reason that many top casinos in Canada seek to obtain a license. Thus, they can work legally and attract more users.
Main Types Of Casino Licenses
Nowadays, there are several different jurisdictions that top online casinos in Canada and other countries can obtain a license from. The industry regulators differ in certain features and gaming control specs.
Let’s consider the most popular jurisdictions issuing gambling licenses:
Costa Rica
For a long period of time, Costa Rica has been the main jurisdiction for over 100 different gambling companies. It is still a good option for small and newly opened companies. What is more, the best casinos in Canada are also up for obtaining such a license. This jurisdiction is especially popular with casinos that allow you to play for cryptocurrencies.
Curacao
It is considered one of the easiest licenses to obtain; therefore, the Curacao license is the most popular at the moment. It is also a good option for casinos that are just starting their journey in the gambling industry since it is very affordable when compared with other options.
Isle Of Man
This license is most often chosen by the companies that provide services in the markets of Asia and the European Union, due to the comprehensive regulatory framework. Currently, the Isle of Man license is one of the most prestigious. Therefore, many top online casinos from CasinoLuck would like to receive such a license or already have it.
Kahnawake
This gambling commission has been providing its services since 1999, and it is still in high demand. This is because the cost of obtaining a license here is low, and the procedure for obtaining the document is quite simple.
Malta
A law passed in 2000 allowed Malta to become the first member of the European Union to provide one of the most favorable conditions for running a gambling business. Some of the top 10 casinos are licensed by this gambling commission, and many are still looking for obtaining the license from this regulator.
Gibraltar
It is one of the more “difficult-to-get” options for top casinos. To obtain a license from Gibraltar, the owner of the gambling club must prove one’s financial stability and agree to carry out financial transactions through the banks of Gibraltar. Besides that, holders of a Gibraltar license must pay 1% of the gross profit, annually, and this amount must not be less than 85,000 pounds.
These are just the most common licenses at the moment. There are many other options.
What Is Special About Licensed Casinos?
When gambling on a licensed site, you can rest assured about casino honesty, transparency, and security since the administration of each club performs a number of actions so that the casino meets international standards. The licensing companies carefully check all aspects of the provision of gaming services. Licensed casinos are backed with top games; only original gambling content from top providers is presented here. A proven random number generator is also in place, so third-party interference in the gameplay process is completely excluded.
How To Validate A Casino License?
Trusting casino claims about the availability of a gambling license is not enough. You should be able to check the validity of the document yourself. Otherwise, how can you be sure that the license is valid and not fake? Luckily, it is very easy to check the document. For this, you need to perform the below:
• Scroll down the main page of the casino;
• Click on the logo of a gambling committee in the footer. It should be a clickable link, not just an image;
• Go to the site of this regulator and make sure that the license number and the document validity period are the same.
If you cannot not find the desired logo on a casino site, then you can request license info from customer support. In case they refuse you to provide the copy of the document, then it is better to choose a different casino for gambling.
