Anyone who has read a casino review might have come across the term “casino licence”. So, what is it and why is it important for both players and operators? Let’s discuss.
What is a casino licence?
A casino licence is a legal document that proves that the business is legitimate and has the right to operate in a given territory. Such licences are issued by gambling jurisdictions like the Curaçao Gambling Control Board, the Malta Gaming Authority and the UK Gambling Commission, whose objective is to ensure all gambling activities are fair and safe for consumers.
Obtaining a licence is typically a complex and lengthy process, which costs money and involves a lot of paperwork. It also requires that operators meet a set of specific standards. While those standards might differ as per each jurisdiction, they generally include background checks, proof of software and compliance checks and a positive cash flow position. In addition, it’s important for casinos and sportsbooks to demonstrate that they follow Know Your Customer (KYC) guidelines and have measures in place to protect vulnerable players and all players’ data.
If a gambling operator fails to meet these requirements, its licence application will be denied or the current licence will be revoked.
What are the benefits of a casino licence?
Casino licences protect players and the countries where the casinos or sportsbooks operate. When you deposit money at an online casino, for example, you normally provide your financial data. In the wrong hands, this information could be issued for harmful purposes. Therefore, a gambling platform with a licence assures you that your funds and financial data will be processed and handled properly and that you’ll be able to withdraw your winnings.
In general, gambling sites collect a lot of personal information about their users, including their names, dates of birth, email address and physical address. In the digital age, this information is incredibly valuable for cybercriminals. Yet, a site that has been licensed by a gambling authority is qualified to handle and protect this information from bad actors.
Having a licence is also beneficial for operators as it’s a way to demonstrate that they are running a legal and transparent business. Players will be more likely to sign up to the site and start playing once they know that they will receive their winnings payment.
Which are the most popular gambling licence jurisdictions?
There are numerous gambling licence jurisdictions across the world. As previously mentioned, these entities are in charge of monitoring the transparency and fairness of the various games offered by a casino operator, making sure that players are safe at all times.
Here are some of the most notable gambling licence jurisdictions:
- Curaçao Gaming Control Board
- Malta Gaming Authority or the MGA
- UK Gambling Commission or the UKGC
- Isle of Man Gambling Supervision Commission
- Alderney Gambling Control Commission
- Gibraltar Regulatory Authority
- Kahnawake Gaming Commission
- Swedish Gambling Authority
Each of these jurisdictions has its own set of standards and minimum requirements that are codified by law, as well as their pros and cons.
Curaçao, for example, is known for being less stringent than others on the list due to its relatively cheap cost and fast approval. However, casinos licensed by this authority cannot accept players from the USA, France, the Netherlands, and Curaçao itself.
On the other hand, the UK Gambling Commission is more strict and its approval process can last up to 16 weeks. Yet, the UK gambling market is one of the largest in the industry.
How to verify that an online casino has a licence
Online casinos and sportsbooks usually display their licence (and its number) on the bottom of their home page. Clicking on the licence will likely redirect you to a link where you’ll see all the issuing details.
Another way to verify a casino’s licence is by reading several reviews and by checking the licencer’s website.
To conclude
When looking forward to playing real money casinos at Casino Aus and similar sites, it’s important to have the best experience possible. A good way to do this is by verifying that your chosen online casino or sportsbook has been licensed by a gambling jurisdiction. Licensed platforms have met a set of requirements that make them fit to provide a transparent, fair and safe experience for all players.
