Gaming license is an essential factor in starting a standalone online casino. Besides improving the casino reputation and contributing to players’ trust, the license is required for creating the financial infrastructure and working with many software and game content providers.
Why is a gaming license required:
- To open a bank and a merchant account
- To work with electronic payment system providers
- To use gaming content from reputable providers
- For better marketing
- For increased player loyalty
Getting a gaming license starts with making the most important decision on the gambling jurisdiction. The available jurisdictions mainly vary by the requirements to the casino operator and the software, the time of processing applications, and licensing costs.
Getting a gambling license is an effort and cost consuming procedure which may last from several months to a year and make the online casino time to market very long. Professional help can play a decisive role in speeding up the process and eliminating unnecessary risks for the casino operator. SoftSwiss offers consulting and support in choosing the gambling jurisdiction, helps prepare the documents, makes sure that the software meets all requirements and facilitates communication between the operator and the licensing body. For those who want to launch their online casino within the shortest time frame and are not ready to wait until the license is ready, SoftSwiss is glad to offer its White Label solution.
Steps to follow before applying for the license:
- Learn the available gambling jurisdictions, their requirements, costs, taxation policy and application processing time.
- Choose the jurisdiction that better corresponds your current needs and possibilities.
- Make sure that the casino software you are going to use meets the requirements of the jurisdiction. Licensing bodies in different jurisdiction pose various requirements to the software used by the casino. For example, the software shall have the appropriate functionality for supporting casino self-exclusion policy.
- Be prepared to incorporate a legal entity in the required jurisdiction: most of the jurisdictions require that the casino is run by a locally registered company.
- Start preparing personal documents in advance. Documents which are usually required for incorporation include passport copy, recent utility bill or other proof of address, certificate of no criminal record from the police, bank reference letter, and some other.
- Prepare documents on the gaming software. The list would usually include certificate of the RNG, detailed description of the software functionality and games, agreements with software providers, etc.
- Check if the online casino website contains the information required by your gambling jurisdiction. Many gambling jurisdictions check the availability of the information on terms and conditions, responsible gambling, self-exclusion policy, withdrawal policy, etc.