Each virtual playground must have a license to conduct its activities, because only with permission, the activities of a gambling company can be called legal. The lack of a license will not allow the site to use legal payment systems, open accounts in many banks and conclude contracts with game software manufacturers. Gambling licenses are issued by special bodies of several states, of which Malta and Curacao are the most widespread.
Malta licensed casinos
The Malta Gaming Authority (MGA) issues licenses in two stages. First, the applicant receives a temporary license valid for six months, and after the successful completion of this period – for a period of five years. The peculiarities of this regulator are a stricter attitude towards gambling companies, more thorough checks for compliance with all standards and requirements. Also, the MGA license clearly states that when a dispute arises, players have a better chance of solving the case in their favor. Licenses issued by the Malta Gaming Authority are considered reliable evidence of the solidity of the online platform and the stability of its operation. Therefore, the document not only gives the gaming operator a number of undoubted advantages, but also imposes certain obligations. In particular, a Malta licensed virtual casino is required to ensure strict protection of players’ personal data, provide financial reports and develop a responsible gambling policy.
Casino licensed by Curacao
In this island nation, gaming operators are licensed by Curaçao eGaming. The licensing process takes less time than the MGA and is easier on its own. Also, the advantages of Curaçao eGaming for gambling companies include low operating costs and zero interest on profits. In the sphere of powers of the regulator from the island of Curacao – only online gambling companies. Specific conditions for obtaining a license include the requirement that the owner of an online site must place his physical game servers on the territory of Curacao. Players trust the reputation of Curaçao eGaming, although things are not entirely clear. A few years ago, Curacao licenses, due to the simplicity and speed of obtaining, weak control and superficial checks, were popular with unscrupulous playgrounds. Serious scandals have also taken place – several casinos licensed by Curaçao eGaming have been convicted of fraud with customers’ money. The regulator’s management, apparently, made the appropriate conclusions, significantly strengthening the control and verification of licensed online casinos. These actions have borne fruit – in recent years, Curaçao eGaming licenses have ceased to be mentioned in a scandalous or negative context.
Is an online casino license important for a player?
From the point of view of a player who does not intend to become a victim of unreliable game operators, a site’s license is a necessary condition. The question of how to choose a casino with a license is not particularly difficult. Usually, it is enough that the license is, and it does not really matter which regulator it is issued by. It is worth mentioning that there have been cases when unscrupulous online casinos posted information about licenses on their sites, in fact they did not have such. Therefore, if the playground is in doubt, it is better to check that it has the specified license on the website with the regulatory body. Before getting a license in a casino, gambling operators do a lot of work to bring their resource in compliance with all standards and requirements. As a result, these changes benefit both the site and the players.