For what purposes are the licenses tkaen when creating an online casino?
When creating a gambling business, owners are faced with a concept such as licenses when creating an online casino. This implies a number of questions. Why get it? What does she give the owner and the player? And can I check for a license?
We will try to answer these questions in this article.
To begin with, perhaps, it is worth answering the question: what is the licensing process and the permission itself?
Licensing is the process by which a state regulatory authority controls a business.
It represents a certain process of official registration of a private or legal entity, which, subsequently, will receive the right to conduct a specific type of business and will comply with all norms and requirements.
The license is a special document (certificate) confirming the legality of the activity for a certain period. In simple terms, this is a permission to do business.
The presence of this document will give status to the institution. He will also act as a guarantee of the legality of the company. Having a gambling business without such permission is not legal in most jurisdictions.
How to determine if an online casino has a license?
All necessary permission information is posted on the casino website at the end of the main page. And also there is a certain verification system.
WHAT DOES THE OWNER OF THE LICENSE GIVE?
In addition to the main indicators, such as the status of the organization and the guarantee of its reliability, the owner gets the right to open a bank account. Without the availability of this document, this action is impossible. Without an account, the possibility of making money through a casino is zero.
Another important factor is that without a permit, many countries will block access to online casinos and will be prohibited from performing activities in their online space.
WHAT IS THE FACT OF THE PERMISSION FOR THE PLAYER?
The license itself does not affect the activities of players in the casino. The only way it can help is to understand that the game is taking place legally and there is no risk of fraud.
The need to obtain a permit is determined only by the owner. You decide whether to receive or not.
Our company will help to make a choice of jurisdiction and license for its registration.
Specialists of Eternity Law International are professional services in full legal support, selection of documents and we will consult on this issue.