Online casinos and other gambling platforms are only considered legal and administered entities when they possess any kind of gambling license. There are countries that only allow platforms to operate only if they hold a license granted by their acknowledged regulatory body. This is the reason quite a few regulatory bodies came into play in the past years after the legalization of gambling. Hence any online gambling website without a license is considered illegal. A license makes sure the casino site abides by certain predetermined standards and guidelines. Moreover, this license is a safeguard against fraudulent websites.
In this article, we are about to dive deep into two popular license providers, Curacao eGaming and United Kingdom Gambling Commission.
Curacao eGaming Licensing Authority
Operating since 1996, Curacao eGaming Is known to be one of the oldest license providers in the gambling industry.Carrying a reputation of serving a bunch of most reputed eGaming operators, Curacao eGaming, has attracted numerous gambling startups providing its regulatory services with cost-effectiveness. It is important to mention that it's tremendously low tax rates is a major aspect of its popularity.
Apart from the fact that Curacao eGaming holds the reputation of being one of the oldest, it is also regarded as one of the most politically stable regions and hence preferred by licensees. Thousands of gambling sites around the globe have Curacao licenses. The main agenda of those Curacao gambling sites is that they do not stick to one particular location but they operate in multiple geographic regions. You can find many Curacao betting sites that work with UK players on NonGamstopBets.com, those operators easily compete with local gambling sites. Those popular Curacao Gambling Sites have millions of regular punters and provide top-notch service, events, and yet having a reliable reputation.
The consistency and reliability of the services provided by Curacao eGaming, is recognized all over the world. Additionally, it provides technical and financial support when it comes to the online gambling industry. Most of the casinos holding a Curacao gambling license offer a plethora of top-tier games ranging from slots, table games, bingo, keno from international game manufacturers such as Microgaming, Playtech, Arrow, NetEnt, etc.
These sites offer impressive customer services over the phone, live chat, and Emails along with multiple payment/ withdrawal options. In short, betting sites that aren’t holding UKGC licenses but are affiliated to Curacao eGaming are still a viable option for the UK punters, who aren’t in the mood to sign up for restrictions such as Gamstop, Gamcare, and Gamban.
- A gambling license in Curacao will cost licensees only 2% of the profit.
- No massive obstructions for the entry of potential customers.
- Provision of applying for a master license which will grant the power to allow sublicensees.
- Legalizing cryptocurrencies as valid transactional options attracted potential customers.
- Supports the online gaming industry.
United Kingdom Gambling Commission
The United Kingdom Gambling Commission (UKGC) is a non-departmental public body under the government of the United Kingdom that looks upon supervising gambling and gaming laws in Great Britain. The objective of the Gambling Commission is to look after the fact that crime is being kept out of gambling and resources are being protected. It holds the power to issue licenses to such operating bodies and also helps the government look into issues related to gambling. The UKGC is sponsored by the Department of Culture Media and Sport.
Established under the Gambling act of 2005, it took two more years for the United Kingdom Gambling Commission to attain its full glory. In 2007 it took over the responsibilities of regulating bingos, arcades, casinos, etc. from the Gaming Board of Great Britain.
2013 is the year when the responsibilities of the National Lottery Commission were passed on to the United Kingdom Gambling Commission. It took part in the publication of results on an investigation done on BGO, GAN, NetBet that took place recently to conclude about the safety measures taken by the sites in recent years. It shows nothing but successful regulation of the industry maintained by the UKGC.
- The United Kingdom Gambling Commission can issue or revoke licenses from operators and can also impose fines. It can also engage in investigations regarding illegal wagering.
- Licenses are issued to only those whose equipment is territorial to Great Britain.
- This Commission is rightful to look into the financial activities taking place with the licensees.
- Licensees are the operator scattered all over the world.
- Schemes such as Gamban, Gamstop, and Gamcare are under the purview of the UKGC.
Both being popular choices, their target customers differ. Both having their fair share of pros and cons, a licensee should focus on its own requirements while choosing one.
While Curacao eGaming provides a user-friendly business model, the United Kingdom Gambling Commission creates customer awareness and has stronger supervision. However, both the regulatory bodies operate with the same objective – To ensure fairness, transparency, and better governance.