UK Gambling Commission License
The online casino industry is growing in intergalactical steps. Neither financial analysts, nor astrologers and similar observers expected such an opportunity. Players did not even dream of such incredible opportunities presented by online casinos to move money from their pocket to pay for a new pool for the casino owner. Regulators need to support and develop the industry, but at the same time they have to ensure the compliance with the rights of customers and monitor compliance with the law from the online casinos’ side. And it’s not that simple, I guess.
In order to be licensed by an official regulator, an online casino must comply with an extensive list of terms, conditions and operating rules. In the United Kingdom, these rules and regulations are among the most stringent in the world. The UK Gambling Commission grants approval only to those who have demonstrated their ability to work at the highest possible level. UKGC licensing is the highest level of recognition for casino operators, which take the fairness and honesty of transactions as a priority. For the player, this means complete calmness and protection of his interests in front of the service provider. Deal only with casinos that have received a license from the UK Gambling Commission; among them you can find one that exactly suits you.
Unlike licenses of some other licensors, this license is not provided automatically upon placing an application. The cost of consideration of the application is about 3,500 pounds. Renewal of a license means paying an annual fee in accordance with the income of your business. The figure can range from hundreds of pounds to millions, depending on the success of the business model.
Each applicant must have a company incorporated in the United Kingdom. The company must be SEO driven with sufficient knowledge and experience. The gaming platform used by the casino must be approved by the Commission. The company must demonstrate its ability to promote responsible gaming, protect customer data, process payments securely in both directions, and resolve customer complaints fairly. The list of requirements is constantly evolving.
Twice a year, the company is required to report to the Commission on compliance with the standards. The fight against gambling addiction and gambling problems has become a priority for UKGC. The same goes for the conditions of the casino. They should be clear, concise and understandable. There are rules regarding the marketing materials used and the timing of payouts. If there are violations, the casino is fined or loses its license. Casinos by themselves must control the content of affiliate sites. In fact, this means that online casinos guarantee the accuracy of the information on the “Casino Good or Bad” website.
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