Slots are closely monitored in the UK. With this famous game of chance, it is easy to create a rigged game and offer it to customers that are not that clued up in slots. To prevent this from happening, the UK Gambling Commission overlooks all the gambling businesses in the UK – join and play today.
To operate legally, any individual or company that offers gambling services to the UK public must acquire a license from the UK Gambling Commission or offshore UK governing bodies.
In this article, we take a look at the steps necessary to acquire your gaming license for a slots website.
The UK Gambling Commission
If your website offers services to UK customers, you will need a permit from the UKGC. The UKGC is a centralised, government-appointed regulatory body for all things connected to gambling in Great Britain, be it licenses, laws, rules, regulations or complaints about a gambling business. The UK Gambling Commission has been the gambling lawmaker and regulator since 2005.
To successfully acquire a Gaming License for a slots website, you are likely to undergo several checks:
- Criminal history record checks to make sure you haven’t committed fraud, theft or similar offences before and are fit to provide gambling services.
- All the RNGs that you plan to use on your website will have to be tested for fairness, randomness and overall performance. RNG is an essential component in every slot machine and is responsible for the outcomes of the spins/game rounds. The RNG creates series of random numbers on which these outcomes are based. To legally operate a slot game, its RNG must be tested by one of the 3rd party RNG-testing companies.
How much does it cost?
The Gaming license for your slots website does not come free. You could choose to acquire a license from one of the offshore nations such as Malta, Curacao, Alderney or Gibraltar. Licenses based in these territories are known to be priced at $15000 – $20000 per year and will have lower rates of taxes. A highly respectable license such as a UK or a Swiss one costs around $40000 per year + taxes. The taxes are calculated based on your income.
What is more, the creation of a slots website itself will cost you too. Paying designers, developers and programmers for their services, when creating your website from scratch, is likely to set you back $2000 – $10000. What is more, an SEO specialist might charge you $500 – $1000 per month for site promotion.
It isn’t easy acquiring a license for your slots website. Gambling is a carefully monitored business and only the best entrepreneurs run successful casinos. If you have the funds and an already developed website, then you might be on the home run in setting up your gambling business. However, a lot of factors go into running a slots website. Your website and games will be checked for fairness, quality and performance and your personal history will be looked into by the authorities. You will have to pay taxes and renew your license every year.