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Online Gambling Law: Why Is Online Gambling Regulation Important

 

London, UK, October 20, 2021 – McapMediaWire – There is no one gambling regulation for Europe; there are European countries with permitted online gambling, as for example Denmark, Malta, Estonia, and Bulgaria. There are also countries, where gambling is permitted, monopolised by state-owned companies, and it is a Finnish legal model.

There are also usually many differences in regulation of different online-casino plays – for example, the country may accept poker, roulette, slots, any types of betting (betting on sports, horse racing, live betting on certain events, fixed odds betting), but be very strict regarding legislation of lotteries, so as Spain does. All Spain lotteries are provided only by the local Spain operators. The online gambling law in the United Kingdom also has its distinctive features – under the Gambling Act of 2014, all operators providing gambling services to people from the United Kingdom must be licensed by the local Gambling Commission.

So, many countries do have their own licenses, as for example Estonia. Take a look at the online gambling provider TonyBet.co.uk, which is licensed in Estonia, if you are located in Great Britain. So, you can live in London, but play in an online casino, which is registered and licensed in another country. But why is it so important for a country to have its own gambling law?

Online Casino Licences: An Overview

As fraudulent and criminal activities became more frequent as a large number of online gambling websites started to emerge, there was an urgent need for legal measures to be established. To obtain an online gambling license from a certain country, the online casino must pay a lot of money and fulfil many prescriptions.

The most popular European organisations, which give online casino licenses, are the Curaçao Gaming Commission, the Government of Gibraltar, and the Lotteries and Gaming Authority in Malta.

How To Obtain An Online Gambling License?

To understand the process of obtaining a license better, let’s take a look at the concrete procedure. For example, you want to establish an online casino and obtain a gambling license from Curaçao. To do it, you will first need to establish a local limited liability company according to all the local legal measures. So, your company must be registered in Curaçao and in the local Chamber of Commerce.

To register your online casino in the chamber of commerce you will need to provide domain ownership, provide a technical audit of each gaming system including software, so as to think about certification of your software. And the whole procedure will approximately last 3 months and cost you more than 14000 Euro. Anyway, the costs may vary depending on the type of gambling, your software, etc.

If you would like to obtain a license from Gibraltar, then you will also need to think about registering your online casino in Gibraltar, providing business, and investment plans to the Government, inspecting your software, etc. You will also need to have open bank accounts in Gibraltar and pay more than 35000 Euros (30000 pounds) for obtaining a license.

Regulated Vs. Unregulated Online Gambling

But why is it so important to regulate online gambling? Unregulated online gambling leads to what no one wants: anyone can run an online casino without worrying about standards and rules or being licensed. Unlicensed casinos are prohibited to provide games, and it can even be very dangerous to play in them. So, we will recommend you decide on the casinos, which are officially licensed.

Now, when you know how to make your gaming more secure – if you want to try an online casino, this is the right time.

Why Now Is The Right Time To Start An Online Gaming Business – Advisory Excellence

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