Licensed businesses have some superiority over unlicensed setups. This explains why customers patronize businesses established with security, rules, and standards. Consequently, this case applies to online casinos too.
Though betting regulations are different in every country, intending casino owners or BTC sports betting sites should plan for a license. They must get a license to provide gaming services legally. This license gives them the right to run games like lottery, sports betting, and bingo.
Also, a licensed casino or site is safer because it has rules and standards to run a fair iGaming business. Notwithstanding, what do you suppose are the top BTC betting site licenses?
Top BTC Betting Site Licenses
Malta Gaming Authority
The Malta Gaming Authority is the official regulator in Malta. It regulates most types of betting, including casinos and betting sites, even B2C and B2B services. Additionally, the MGA has worked with many high-end casinos in the past.
The gaming regulator ensures that sports betting companies, bingo halls, and national lotteries are safe.
A significant benefit of getting a Malta license is that it features on the UK Betting Commission’s ‘white list.’ This allows Malta’s license holders to market their services to citizens of the UK. More advantages include the country’s low licensing fees and favourable tax rates.
Application Process
Malta’s application process is in four stages, and they include the following:
- Fit and Proper: There’s an examination for each applicant. The authority gets all the information about the people in charge of its finances. They also check the potential licensee’s business validity.
- Business Plan: The next step is for the MGA to check every applicant’s business plan. In addition, the applicant must add their growth targets and marketing plans.
- Operational Requirement: The MGA checks the company’s method of operation. Software, games, and rules are among these operations.
- Review: After a successful application, MGA gives the applicant 60 days to develop their business. This is followed by system audits to address any issues.
Gibraltar Licensing and Regulatory Authority
Betting industries are common in Gibraltar, and the location has been one of the most popular betting jurisdictions. So, the regulatory authority in Gibraltar started allowing online gaming companies to get licenses there.
The regulatory body grants gaming operators, betting intermediates, lottery promoters, and remote betting permission. Nonetheless, licenses in Gibraltar are hard to get because the regulating body is stringent. In Gibraltar, only experienced people with a good reputation can get licenses.
Application Process
License applicants must submit a proposal stating their business plan and experience. After this, the process begins.
However, the government needs detailed information about the company to move forward with the application. So, applications might take a long time due to intensive research.
Alderney Gaming Control Commission
AGCC is one of the UK’s betting licenses. Since its inception, it has kept a good reputation. Thus, it ranks among the white-listed licenses.
Any BTC betting site or casino that got a license from AGCC can do business with players worldwide. Also, AGCC is popular for its several licensing options. These options include short-term and complete licenses for businesses in another country.
Application Process
The licensing process in Alderney involves three phases, and they include:
- Phase 1: The applicant should have a company registered in Alderney.
- Phase 2: The registered company should tender an application. This application should include a deposit of £10000 and a signed copy of the application form.
- Phase 3: Afterward, the Director schedules a meeting.
Curacao eGaming Licensing Authority
This licensing authority is Curacao’s primary regulatory authority for online games. They give out one license covering all game types, like sports bettings and chance games.
Also, the authority provides different services like offering IT infrastructure and handling gaming licenses. These services make Curacao very appealing to people who want to start a business in a place where there are fewer barriers.
Application Process
The application process is similar to other licensing authorities, with some differences. So, an intending BTC betting site or casino owner must apply with one of the master license holders. This includes producing evidence of the company’s beneficial ownership.
Then, the authority charges the applicant about $7000 monthly, depending on the licensor’s discretion, after approval. However, an application can take about six weeks to process.
These are some of the requirements below:
- Detailed information on the games
- The owner must have no criminal record
- The page or company should be accessible to adults only
- The owner should submit a passport copy
- Display of warning about betting addiction
Kahnawake Gaming Commission
Betting is legal in the Mohawk Territory of Kahnawake. The Kahnawake Gaming Commission licenses and controls many online casinos and sports betting sites. It also licenses and maintains three land-based poker rooms in Kahnawake.
When you apply for a license in Kahnawake, you’ll need to pay $25,000. This is for a client-provider license. Getting a separate license, called the Important Person license, costs $5000 for each important person in the company.
Also, you have to pay a $15,000 deposit for software testing, and the annual license fee is $10000 per year.
Isle of Man
The Isle of Man is a small island off the coast of England in the Irish Sea. An Isle of Man gaming license has several advantages, including a straightforward and effective tax framework. They also offer a short application process and a business-friendly climate.
The Isle of Man gaming license authorities is popular for holding operators to high standards and ensuring that they follow the rules. They also belong to the World Trade Organization and is on the OECD White List. This enhances its reputation as a leading online gaming country.
Application Process
The application process isn’t as difficult as some other jurisdictions, but it is far from simple. Only one license is necessary, and it covers all gaming and betting activities conducted inside the jurisdiction. The whole process takes about 16 weeks before approval, and your service provider will be there to assist you all through.
Conclusion
For a business to gain some level of trust from its customers, it must be registered and have some standards. We have listed some top BTC betting site licenses for intending casino or betting site owners. However, it’s essential to do more research to understand what you’re getting into.
