Because of the large number of gambling portals and online casinos, inexperienced players are often faced with an impossible task, and it is almost impossible to make a choice. Therefore, before opening an account at any online casino in India, players should make sure that they have registered with a reliable gaming resource.
The easiest way to determine if an Indian online casinos provider offers a safe and fair online casino gaming environment is to check which regulatory body has issued the operator a license. Therefore, players are advised to look for online casinos that have been approved by the Gambling Commission and have received a gaming license. This information is usually displayed at the bottom of the casino’s homepage.
Casino License in India
After ensuring that the online casino in India they choose is licensed and regulated by the Gambling Commission, they should carefully examine the catalog of games and software on which the online resource operates.
Suppose a gambling establishment runs on the software of a leading developer. In that case, this increases its reliability, transparency, and honesty and indicates that the games’ visual and sound effects meet modern requirements.
It is advisable to check the “Cashier” menu on the online casino portal beforehand, as players should choose online casinos that provide a wide range of safe and convenient banking methods.
You should also take into consideration the average withdrawal time at the online casino in India. In addition, players should open an account in the local currency to deposit and withdraw rupees from their country of residence.
A reputable gambling provider rewards its players and maintains their loyalty. Therefore, players should carefully examine the bonuses and promotions offered before completing their registration. More importantly, new players should familiarize themselves with casino bonuses’ wagering requirements and terms and conditions before claiming a bonus.
At the moment, gambling entertainment in India is not available everywhere. Only Sikkim and Goa are lands that fully support gambling and provide such services. As for the rest of India, the country does not yet have an official license to provide gambling entertainment.
A good casino provides its players with adequate, efficient, and timely customer service. Therefore, when choosing the best online casino, players should make sure that the service provider offers a range of time-efficient communication methods.
Finally, most reputable online casinos strive to improve the player experience and are compatible with widespread mobile devices, allowing players to play games on the go.
Advantages of offshore casinos
The procedure for obtaining permission to operate an online casino is referred to as licensing or gambling. For industry owners, it is a legal obligation that minimizes tax risks.
The proper offshore jurisdiction generally has the following advantages:
- An online casino registered in a foreign country provides the right to attract players from all over the world. It is an additional increase in capital investment.
- The owner of the industry legally avoids taxation.
- It becomes possible to use different types of currencies and their conversion.
Types of casino licenses
To organize the activities of a network casino, the owner of the company must have one or more licenses. It depends on the nature of the services provided. It is possible to obtain permits for gambling activities, which are classified according to the following grounds:
- If it is the lottery organization, installation of slot machines, or online casinos, a Class 1 license will be required.
- Establishing sweepstakes and online betting requires a Class 2 license.
- The ability to play bingo, poker, or popular gaming portals obliges the gambling business owner to have a Class 3 license.
- If a company is established to sell further the software necessary to organize an online casino, a Class 4 license is required.
- A separate license is required in each case.
There are two types of licenses in online gambling: international, also known as “offshore license,” and domestic or country-specific license. International licenses are suitable for projects targeting multiple markets, while domestic licenses allow online casinos to operate within one specific country.
Regulated markets include the United Kingdom, Spain, Belgium, Bulgaria, Romania, Estonia, Portugal, Mexico, and others. In addition, national regulators often require that casinos have the appropriate domestic license and that the software provider, i.e., the platform providers.
There are many international jurisdictions for the gambling business. When choosing where to obtain a license, operators usually consider the following factors – reputation, licensing requirements, complexity and length of application, initial and annual payments, taxation, etc. We briefly overview the most commonly chosen international gambling jurisdictions and their conditions.
Popular gambling jurisdictions
Malta has a good reputation within the EU market and is quite well-known among operators targeting Europe. The stated fee is €2,330, and there is a fee of €8,500 per year to renew the license. Gaming taxes are €4,660 per month for the first six months, and then €7,000 per month after that. However, it is essential to remember that high legal costs are associated with the procedure.
The procedure for obtaining a Maltese license is a complex and lengthy process. All applicants must prove themselves well and provide a business plan as proof of the success of their business. A copy of verified accounts and personal information about shareholders must also be provided. In addition, the online casino software must be vetted against various industry standards by the Malta Gaming Authority.
Isle of Man
On the Isle of Man, the application fee will cost £5,000 (after paying a non-refundable fee of £1,000), and £35,000 per year must be paid. Taxes on games range from 0.1 to 1.5%, depending on the turnover of rupees. The application procedure is quite lengthy. Applicants must have a financial reserve for additional payments, prove their reputation and offer fair gaming principles. The company will be registered in the Isle of Man, and the servers that will serve the online casino must also be located there.
Curacao (Netherlands Antilles) is definitely the best solution with the best time and budget. Not surprisingly, it is the most popular jurisdiction for the gambling industry. An entity or an individual receiving a license will have to get incorporated in Curacao through trusted partners who act on behalf of the Curacao government. The registration and license acquisition process takes several weeks and can be done remotely. Unlike some countries, Curacao does not require casino servers to be stored on its territory, but regular backups of databases to a local server will still be required.