Gaming licenses are essential in the iGaming industry. As well as regulating online casinos, the licence ensures customers and operators stay protected against illegal activities. UK Gambling Commission and MGA are two of the most well-known licensing bodies in iGaming. The UK Gambling Commission regulates casinos like Platin Casino UK, which guarantees players a safe, secure gaming environment. Here is a closer look at these iGaming licence providers.
Malta Gaming Authority
The iGaming industry in Malta has been a centre of excellence for many years. It’s not surprising, as their licence is hugely reputable and offers access to a highly desirable European market. Malta was among the first countries to provide iGaming licenses, and it now offers four different types. Using the first licence, casinos can run games of chance with the results decided by an RNG (Random Number Generator). Casinos that offer slots and table games need this licence. The other licences allow casinos to use games such as poker, bingo, sports betting etc.
A long and arduous process is required to obtain this licence. There are at least five stages, including several compliance audits, which can take up to four weeks to complete. If successful, a five-year licence is granted.
UK Gambling Commission
A trusted and well-respected licensing authority is the United Kingdom Gambling Commission. There were notable changes in the UK’s online gambling environment thanks to the gambling act, making obtaining a valid licence mandatory for any casino with a UK presence.
The UKGC emphasises KYC procedures, such as anti-money laundering and responsible gambling, so an operator hoping to obtain a licence must follow stringent rules. They are one of the most complex and rigorous licensing authorities, so getting one of these licenses is not easy. In addition, they are known for handing out massive fines to operators who don’t follow their rules. That doesn’t stop operators from trying, though, as once they obtain it, they will have access to the thriving UK iGaming market.
Isle of Man’s gaming licence
In 1962, the Gambling Supervision Commission was established in the Isle of Man, making it one of the oldest regulators in the world. Once online gaming became popular, the commission quickly adapted. The low tax structure and long-term licenses have made it a highly sought-after option among operators. An Isle of Man licence is very beneficial for operators of video slots and other casino games since it has no geographical restrictions.
Gambling firms operating in the Isle of Man have implemented legislation designed to protect their clients and benefit their businesses since 2001. High standards are enforced by the Gambling Supervision Commission, as the agency is known for ensuring that operators adhere to the rules. Having been included on the OECD’s White List, the Isle of Man further solidifies its reputation as a top location for online gambling.
Macau’s Gaming Inspection and Coordination Bureau
Gambling in Macau has been legalised since the mid-19th century, when the government legalised it to boost revenue. Soon after, Macau established a licensed monopoly system, which lasted for over a century. Only in 2002 did the Macau government lift its monopoly system, allowing gaming operators worldwide to submit applications to operate in Macau.
Besides issuing licenses for operators to operate in Macau, the Gaming Inspection and Coordination Bureau oversees operators to ensure they comply with all legal requirements. Since Macau has very liberal gambling laws, all forms of gambling in Macau are permitted, including casino games, lottery, horse racing, sports betting, and poker.
Spain’s Dirección General de Ordenación del Juego
The gambling market in Spain is probably the largest in Europe. Many factors are responsible for this, especially the clear and precise gambling laws. The Spanish Regulator, Dirección General de Ordenación del Juego (DGOJ), enforces clearly defined laws across the country; therefore, both the casino operators and the players can be confident that they are complying with the law.
The DGOJ offers two types of licence; a general licence covers betting, table games, and contests, and a singular licence corresponding to the games you wish to provide. Applicants can only apply for general licenses during the period specified by the regulator. While the operator maintains the general licence, they can apply for a singular license at any time.
In the world of casino legislation, regulations are constantly shifting, so it is crucial to know the latest laws in your country. Some countries make obtaining an online gaming licence difficult, but with good reason. The strict regulations are in place for the benefit of players and operators, so online gambling is safe and secure.