When it comes to games of chance and hosting them online, what many of us do not realize is that some countries require you to have a betting license to open a facility or web page that has these offerings. Online casinos should absolutely look into acquiring one before they open. This includes if you are creating one that goes across international borders.
An example of this is in Sweden, where the Swedish Gambling Authority handles the distribution of them. Make sure that you do your research before you officially make the website public, at the very least. If you are interested in this topic for one reason or another, do be sure to continue reading! I will do my best to answer any questions that could potentially arise.
What is a Betting License?
In essence, a betting license is documentation that confirms that you are not exploiting consumers with virtual or physical games of chance. They are an important part of the trust that organizations build with their customers, since having the documents increases rapport levels naturally when people visit a web page.
What are some of the games that require you have one? Well, roulette and casino tables are some obvious ones, but slot machines, lottery games, and racing bets also need them a lot of the time. I would recommend that you do your research if you are considering opening a website like this.
Now, something to remember is that each jurisdiction ends up having different laws and legislature surrounding this. I mentioned that above with the Sweden example, but I wanted to touch on it again since it is something very important to know. The people who provide these games to the public are often called “operators,” so be on the lookout for that as you read some of the laws.
What are Some of the Requirements?
This is the logical next place to go, so it is what I will discuss next. What rules must we accept to acquire a license? You can see some examples on this page, https://betting-utan-svensk-licens.net/, to get an idea of what to expect. Thankfully, they are usually not too difficult to follow, so it should not pose a large problem for you or your organization. In fact, most operators find them fairly agreeable.
The first, and most important one that I would like to point out is that operators are obligated to run their games of chance and other gambling services in a method that does not encourage or exploit addiction to these activities. Did you know that there are millions of people worldwide who form a gambling addiction? These rules are put in place to protect consumers from this, as preying upon these vulnerable consumers was all too common for a long time.
In addition to that, displaying any logos for the license that you have is another must. You also need to confirm that your games operate on RNG. RNG stands for random number generation, and it probably a term that you have heard if you have ever played a massively multiplayer online roleplaying game or anything similar. It is a huge factor in mobile gaming today as well.
How to Apply
Thankfully, the process is not overly complex. That being said, there are some documents that you will likely want to gather up before you sit down and begin. You can see some information on that on this website, with examples of licensed operators.
The first thing that you will want to do is decide which type of license that you want. There are a few different ones out there for the various different forms of betting and gambling, so feel free to inquire with your local legislators if you are not sure which to get. There are also plenty of websites that offer more insight into how the process works, so feel free to explore once you finish here today.
Some of the documentation might seem like it is too much information to provide, but it will be worth it in the end. What are some examples of this? Well, the commissioners could ask for any personal details such as your birthday, identification cards, and more. What else?
Your business plan could certainly be something that they want to see. That might include proof of funding, too, since that is an important part of running a casino (be it brick and mortar or digitally). They might ask for some bank statements, along with any rules and procedures that you intend to implement to keep yourself and your guests safe.
One thing that sometimes goes under the radar is that these licenses usually do need to be paid for. Most of the time, there is a thirty-day window. However, it is probably a good idea to inquire about that up front so that you do not end up blindsided by a large bill with very little time to pay it.
As you go through this process, it is also generally smart to look at any other terms and conditions that apply. I covered some of them in an above section but let me detail a few more as well before I conclude today. As far as further documents go, providing the commissioner with a full plan of how funds will be distributed to employees is a possible request.
In addition to that, be prepared to offer descriptions of any games offered, along with potential winnings and how the revenue system will work. This is to help them determine whether your practices fall into compliance with not encouraging addictive habits.
The main way to keep yourself in business is to retain a high reputation, though. It can be easy to overlook this part, but by keeping a high credit score and not incurring a lot of debts, often the commissioner will look upon an application or renewal with more kindness. So, do your best to be a pillar of the community.