So after playing Epicwin jackpot slot Malaysia for a while now, maybe you’re thinking about how it would be to run an online casino business of your own. If you’re planning it seriously, then you probably know that you will first and foremost need a gambling license for it. If you want the casino to be successful, then these licenses will be very important. In this article, we will learn more about it.
Is an online gambling license necessary for creating a successful casino business?
The short and simple answer is yes, it’s absolutely necessary! You must have heard how plenty of gambling operators out there run the business without a proper license and are still getting by pretty well. Your good wishes might have also suggested companies that can give you a fast ticket to the business and take care of the maintenance expenses.
While this sounds like a short-cut way through which you can also make some additional profit, walking this path will make you an underground casino business, it is simply not worth it if you want to run an honest business. Here are some of the reasons why you should consider getting an online gambling license:
Running a casino without a license is illegal:
A gambling license is mandatory by law to own if you want to become a casino operator. Without it, your casino will be illegal. Most countries are extremely serious when it comes to illegal gambling. If you get caught, you will not only lose your business but might also end up in jail or at least have to pay a huge fee. This is why getting a gambling license is the safest option.
You will need it for financial matters of the casino:
Casinos are all about money, and you, as the owner of it will need to manage most of the matters related to the finances. For that, you will need the license. You will need it to open bank and merchant accounts. You will also need it to work with electronic payment system providers so that the players can conduct transactions smoothly.
A casino is nothing without the games, of course. You might develop some games, but for others, you will need to buy them. And to do that, you will need a gambling license.
You can earn the trust of customers through a license:
These days, most customers remain very cautious about not getting scammed by casinos. One of the ways to confirm the legitimacy of a casino is to see their license. So customers will definitely demand to see your license as proof of your honesty. If you can show it to them, it will make the customer trust you and develop your casino’s reputation and increase customer loyalty. So it is important that you do whatever it takes to get that license.
What type of gambling licenses do you need to operate a casino business?
Getting a gambling license is quite troublesome, even in countries or locations where gambling is fully legal. It’s even more difficult due to the fact that you will need multiple licenses in order to run an online casino and ensure its success smoothly. In the UK, for example, there are three types of gambling license that you should apply for:
As the name suggests, this is the license that you will need to operate any type of gambling facility in Great Britain, online or offline. In fact, if your casino simply provides and advertises to consumers in Britain without being registered under it, you will still need this license. You can get the license by applying to the Gambling Commission. There are three types of operating license – Non-remote, Remote, and Ancillary. You might need a combination of these according to your needs.
Personal Management License (PML):
You need the PML if you’re in charge of some particular activities in the casino, for example, developing the strategy and delivery of gambling operations, financial planning, control and budgeting, marketing and commercial development, and such. For all types of management activities, you only need to hold one PML to own the authority.
Personal Functional License (PFL):
This license is needed for those who plan to be involved in gaming or handling cash in relation to gambling at a casino, which is to say if you are a dealer or croupier, a cashier, an inspector, a gaming supervisor, security staff, etc. Now that’s for Britain. In most places, especially the offshore locations; there are basically only two types of license that you have to know about. These are;
A master license allows the holder to grant sublicenses to other casinos and online gambling sites. It is not something that you, as the provider and operator, would usually apply for. This license covers all game types, software providers, and product operators and is very expensive and time-consuming to get. Curacao used to issue master licenses before, but they haven’t issued any for years now.
The sublicense is for when you want to work under the auspices of the master license. Suppose your online casino is licensed in one country; and you want to operate in another one so that you can get a sublicense from a holder of a Master’s license. This sublicense will cover all games of skill and chance, service and software providers, marketers, affiliates, platforms and operators. If you want to make a casino in Curacao; you will see that they mostly issue sublicenses though they have both Master and sublicense. But there haven’t been many master licenses issued there yet. So you will most likely apply for a sublicense since it is not only less expensive but will also require you less time to get. So for successful casino business, a sublicense is enough.
It has to be noted that the types and categories of licenses differ from location to location, while how many licenses you need depends on how you want to operate your online gambling business. You should have full knowledge about all of this before applying for the license so as not to end up wasting money by getting something you won’t have any use for. Or, you could give it a shot over at Epicwin jackpot Malaysia! Good luck!