Nowadays, all spheres of activity must follow the law, gambling is no exception to the rules. In this post, we will tell you about what is UK Gambling License and why it is needed. For those who do not have an idea of what is what, this post will allow you to sort things out after reading. As many of us already know, there are different types of licenses, this time we will touch the UK Gambling License.
What is a gambling license?
The gambling license ensures the legal operation of an online casino according to the law, thereby conducting honest business. It shows that transactions are conducted safely, winning money is guaranteed to be paid and the casino is controlled by independent auditors.
Gambling license is necessary to create the image of a casino and present it as a reliable institution, thanks to which the platform develops faster and better.
Gambling licenses are divided into two types:
- International – for gambling in different countries
- Internal – for work in the territory of only one country
How to get a license for online casinos?
To get it, you need to contact the gaming commissions, departments, and ministries.
To obtain a license, you must:
- Comply with the standards prescribed in regulatory documents.
- Provide data on finances, casino structure, owners and partners.
- Provide proof that employees did not engage in illegal activities.
- Наличие опыта организации азартной деятельности.
Gambling license in the UK
For a start, it is worth noting that unlike many regions of the world, in the UK the laws regarding online gambling are relatively simple. Of course, there are some difficulties, some of the existing laws are quite complicated, but this applies only to the provision of gambling services. For residents of the UK who want to gamble, the laws are for the most part quite understandable.
Most forms of gambling, including online, are legal and well regulated in the UK. The Gambling Commission, which is responsible for the Government’s Department of Culture, Media and Sport, regulates the industry. With the exception of spread bets, which are regulated by the Financial Conduct Authority. Among other things, they ensure that operators offering gambling services, including online, meet the required standards.
Bets and games are big business in the UK, there are many land-based casinos and poker rooms. Because of the above options to get a Gambling license in the UK – a profitable solution. It’s no secret that many gambling sites offer their services to UK residents, including their local ones, and everything is legal.
The UK Gambling Commission was established in accordance with the Gambling Act of 2005, provided that its authority will be valid two years later. She took on many of the responsibilities previously held by the UK Gaming Board (Gaming Board for Great Britain) and also became responsible for regulating online gambling. It also regulates the National Lottery under the National Lottery.
The main task of the organization, license and regulate the people and businesses that provide gambling in Great Britain including the National Lottery.
According to the Gambling Act of 2005, the UK Gambling Commission has the right to license gambling operators and impose fines or revoke licenses if necessary. This act affirms the purpose of the Gambling Commission:
- Preventing gambling from causing crime or disorder related to crime or disorder or used to support crime.
- Ensuring that gambling is fair and open.
- Protect children and other vulnerable individuals from harm or gambling.
When it comes to providing online gambling services for UK residents, only companies based in the UK can be issued with a Gambling Commission license. However, the organization has a white list of approved gambling. Operators who receive licenses within these jurisdictions can also serve UK customers.