In order to legally provide gaming services, such as sports betting, slots, live casino and poker, an online casino must be licensed. Not obtaining a license challenges the company to successfully work on such platform, as the operator would be unable to open a bank account or even offer games on their site. For example, in order to be able to offer games, an online casino would need to contact a software provider, who requires that the company has a license.
Applying for a license means following all guidelines, regardless how strict they'd be. Usually guidelines include, but are not limited to, areas such as:
- Preventing any connection between gambling and criminal activities (such as money laundering)
- Ensuring games are fair and transparent
- Preventing underage gambling
To make sure that these goals are met, a company is being held account for having sufficient finances for running the business, for being honest and trustworthy, to have gualifications and experience for running a gambling business and having a clear criminal record.
Knowing a company has a license ensures you can trust that the games are not "rigged", meaning that
- The RTP (Return To Player) percent is completely ran by a random generator
- The company is not involved in any criminal activities
- The company is being regularly audited to maintain the high standards of the license.