Licensing authorities are institutions that issue licenses to operators and developers in the iGaming industry.
Licensing authorities are institutions that issue licenses to operators and developers in the iGaming industry. They ensure that gambling activities on portals like robocat are carried out within predetermined rules and do not become a source of crime or corruption. They also monitor the gaming sector to ensure that it is fair and that society is protected from unethical practices. Below, we will tell you about the most popular licensing authorities.
The Importance of Licensing Authorities in iGaming
Let’s consider why licensing authorities are needed for gambling portals like Robocat.
- Compliance with legislation. They ensure that operators comply with the laws and regulations of the jurisdiction where they operate. This includes everything from age restrictions to responsible gaming tools.
- Consumer protection. Regulatory bodies monitor that users are not subjected to fraud or unfair practices. They set rules to ensure that user information is protected and that the gaming process is safe.
- Promoting fair play. They ensure that fair play standards are met, ensuring that round results are not rigged and all users have an equal chance of winning.
Gaming software developers and casinos must adhere to licensing requirements, as failure to do so can result in fines and loss of reputation.
Most Popular iGaming Licensing Authorities
Several organizations issue licenses for casinos like Robocat. We will tell you about several institutions with good security and global recognition.
- Malta. Operators highly value a license from the Malta Gaming Authority (MGA), but obtaining one is challenging. Online casinos must prove their reputation, provide personal data of shareholders and account information, and present a business plan. The MGA conducts a rigorous audit of casino software to ensure the fairness and correct operation of the random number generator (RNG).
- Gibraltar. The Gibraltar Regulatory Authority (GRA) has been providing services since 1998, which confirms its reliability. To qualify for such a license, the applicant must provide a 2-3 page business plan indicating the experience and history of the portal. Gambling operators give a copy of the list of shareholders and personnel details. Application processing takes several months due to the extensive testing required.
- Curacao. Curacao (Netherlands Antilles) is the most popular jurisdiction for iGaming. The gambling authority here does not require operators to host servers on its territory. The tax laws of the Curacao Gaming Authority are more favorable for operators compared to other jurisdictions. The total costs for registering a company and purchasing a license are approximately $14,000 one-time and then $10,000 annually.
- Antigua and Barbuda. This type of license confirms the reliability of the casino, but it is expensive. To apply, the casino must pay a non-refundable fee of $15,000 and $100,000 for an interactive gaming license. The casino must also have a reserve of at least $100,000 to start operating.
The licensing of casinos, like Robocat, was created to protect players and maintain the principles of fair play. The process of applying for a license can be long and confusing, but it ensures high-quality service, security, and fairness of RNG.
