The online casino industry has been one of the most flourishing industries among all the entertainment industries in the UK. The activities of these businesses are supervised by online gambling licensing authorities. Hence to operate legally every business should hold a license. A license is not just important to gain customers’ trust but also to carry out transactions and work with software companies across the globe.
Online gambling licenses are offered by several island countries and can be issued to operators worldwide. Such offshore licensing authorities include Malta Gaming Authority, Curacao iGaming Authority, Government of Gibraltar, etc. An offshore license allows the holder to conduct casino games, lotteries, and other betting activities. These operators conduct services from a distance without imposing regional restrictions and hence both the operator and the provider benefit. A good percentage of excluded players choose offshore casino sites because they offer many exclusive features for UK punters without the associated restrictions of GamStop, GamBan, GamCare, etc.
The Pros of Offshore Gambling Sites
- There are way fewer restrictions imposed upon the operators when one opts for offshore gambling operators.
- When an operator is accredited by a reputed offshore license provider it creates an image of reliability and stability to the customers when an operator holds a quality license with an additional benefit of unobstructed gameplay.
- The low or even zero tax imposition makes it financially beneficial for operators to choose offshore licenses over others.
- It enables operators to operate legally.
- The time required for the operators to receive a license is comparatively very less as the process is usually swifter.
In the case of the users, they prefer offshore gaming sites over any other because of the fact that they can play without the supervision of the government restricting them in any way. Moreover, customers chose these sites because of their issue-resolving abilities. There are certain countries without any authority over offshore gambling sites and hence customers are drawn towards them. They receive all these benefits yet with the security of playing with a licensed site.
There are several reputed offshore destinations to open up their gambling company and here we are about to explore the most popular ones.
It is considered ideal for entrepreneurs trying to branch out their online gambling startups. It is rated among the few top most favourite among operators. Curacao license is known for its swift services and quick processing of the licenses. Moreover, they offer a license that covers all services.
Also, a considerable percentage of GamStop players who play on offshore iGaming operators prefer Curacao-licensed companies because the majority of them are trustworthy casinos that are not on GamStop with their own safe restriction tools. They are cost-efficient and have free services that are enough to attract interested operators. An additional feature that makes the Curacao license stand out among the competitors is that operators are not subjected to pay extra taxes on their revenue yet they completely comply with the practices of international taxation.
Malta license is a holder of excellent reputation among the competitors, extremely renowned all over the world. They are known for their smooth access to opening new bank accounts and for offering services to clients overseas. Although the process of acquiring a license can be a little complex, they make sure the paper works are completed with utter care and with the operators being present.
It is mostly designed to take care of operators who have already made their names in the market and are willing to expand. The tax rate in the country is at 35% for the corporate including an effective tax rate of just 5%. Gaming taxes are levied according to the revenue and the taxes are based on whether the players are Maltese. License holders of Malta are allowed to provide services to a wider variety of jurisdictions.
Offering their services since 1998, Gibraltar license has proven itself to the players about their safety measures and protection provided to the players. They are vigilant about underaged players. Being a host to some of the best-known game developers, bookmakers they host poker tournaments and are known for their luxurious casinos.
They promote responsible gambling as well as fair games. They make sure the set of regulations and guidelines are being maintained and safety is being provided to the players. They have separate funds for players which is vital considering the fatality of the fortune of the casino itself. This is enough to win the trust of players in the long haul.
Apart from the above-mentioned three, there are several other well-known gambling authorities offshore but these were the most popular ones among all iGaming businesses which are looking for offshore licences.
Players usually choose them because of the better promotion systems, support of credit card payments, and absence of strict rules which you can find on local operators. Meanwhile, operators choose these licences because of the simple regulation and digitalised processes that allow them to run the business easily.