Offshore Gambling License
Offshore casinos function adhering to the rules and regulations of the country from where they operate. These countries offer them the essential gaming and gambling license. This legalizes the operations of the offshore casinos. Such legalization adds to the credibility of the offshore casinos. Players usually check if the offshore casino has a legal license for operating the online casino. However, the process of issuing a gambling license is very long, drawn-out and involves extensive activity and expenses too.
Licensing of online and land-based casinos is almost similar. If you want to get a license for operating a casino for two years, the licensing process could spread over two years. It is your duty to provide all the necessary details to the licensing authority. The details should cover all the necessary skills for operating an offshore casino. You have to answer numerous questions on your application for the gambling license. You have to pay for all the investigation expenses that check the accuracy of your statements.
While applying for a gambling license for your offshore casino, you have to divulge all details of your past business dealings and activities. You also have to explain any lapses or any other similar acts. You could also incur legal fees for getting advice and help in dealing with such matters. Overall, you could incur costs ranging from $500,000 to $1,000,000 for procuring the gambling license. Some licensing authorities impose charges according to the number of slots games or machines you want to operate in your offshore casino.
Some of the offshore casinos have their online servers in a different country, commonly referred to as offshore. Some others transfer their entire base to the offshore country. Sometimes you can procure your gaming and gambling license from the Internet service providers. These firms charge fees for using their Internet servers to host their online casinos. Hence, there are many controversies surrounding issuance of gambling licenses to offshore casinos for legalizing their casino activities.
For an offshore casino to function legally, it should have the authoritative license of that country. The casino has also to report its activities to the local government at specified and regular intervals. The countries supporting such offshore gambling are the governments of Pacific and Caribbean Islands. Specific countries with good concentration of offshore casinos include Dominica, Antigua and Barbuda, Curacao, St Kitts, and Vanuatu.
Most of these countries are developing and therefore such gaming and gambling industry can provide a boost to their growing economies. These offshore casinos normally pay around $100,000 to procure a legal gambling license. Additionally, they pay annual taxes too, which is a boon to the governments of these countries. Presently, many more countries like Australia and North America are issuing such gambling licenses to offshore casinos like Gaming Commission of the North American Indian territories or Kahnawake Gaming Commission, and similar others.The Kahnawake Gaming Commission consists of three members appointed by the Mohawk Council of Kahnawake in Canada. The specific Mohawk territory is popular for gambling licenses, as it is the only jurisdiction with servers in North America hosting many real-money gambling sites available online to players. Kahnawake Gaming Commission is an independent third party interactive gaming license provider functioning since 1996. Once you receive offshore gambling license for your casino, it is essential to display the logo of your license. Players normally check for his logo before signing in for gambling offshore online at your casino. Read our article on 'obtaining an offshore gambling license'.