The UK market is the largest betting market in Europe, making it both competitive and charming, according to Statista. The requirement of gambling settings in the UK is completely legal and regulated; however, certain practices and specifications should be followed. In this study, we will tell you in detail which gaming license is most suitable for the British: Curacao or UKGC.
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In the UK, as in various countries of the world, the gambling enterprise for a long time did not own any legal regulation. This continued till 2005 when the Gambling Act was adopted and the UKGC was created
Various types of gambling are divided into many categories with their prices and demands. A full report about this can be found on the official website of the UKGC.
Fewer unlicensed brands
In addition to regulating the UK gambling market, the UKGC and, as licensees, workers are expected to follow the rules of that national regulatory body. To run in the UK, firms need to get a separate permit for each type of gaming activity.
The UK regulator allows two distinct varieties of managing grants; regular and limited. The Standard License is for workers who give help to their players. Three types of standard licenses may be needed due to the operator’s activities; running platform permission, original event license, and practical event license. As for the limited license, it is required when operators provide services over the Internet or another method of communication. Operators illegally offering gaming in the UK will face a series of tougher penalties and stricter rules.
The exception is the UK Online Cricket Betting ID not on GamStop, which have an unrestricted licence and do not break any UK laws because they are based outside the country. These websites are generally known as non GamStop online casinos, and they do offer some exciting features. You can read more reviews, features and other things about casinos outside GamStop at Casino-Wise.com.
Benefits of a UK license
Confidence in the future: GB is a country with a stable legal system and fair justice. Here you know exactly what consequences the actions will entail, in connection with which you can reasonably plan your marketing.
Pricing policy: in the UK, everything is British pedantic: on the official website of the regulatory body – UKGC – there is a clear progressive scale of the license fee depending on the level of income of the gaming trade plus the kind of license.
Market advantage: Incorporation in the UK is prestigious. There is no need to create several companies to make it more convenient to work with counterparties and build incorporation schemes.
Why get it?
Britain is one of the countries in Europe where casinos and additional betting companies are officially allowed. District legislation supports gambling entrepreneurs. Key advantages of getting a gambling license in the UK:
- White range.
- High reputation.
- Adequate tax charge.
- Transparent legal framework.
- No extra commissions and tax costs.
If you want to launch your project in one of the most popular and reliable authorities in the world, pay regard to the UK gambling license.
Curacao is a country that is part of the Kingdom of the Netherlands in the Caribbean 40 miles (64 km) from Venezuela. In addition to the fact that summer reigns on the island all year round, this state also provides an excellent opportunity to begin your online betting business.
Curacao is the principal country to legalize it, plus it happened in 1996. Since that time, it has become a top field for the foreign gaming industry.
Why is this field so attractive?
- First, you don’t need a separate license for each type of game. It enables you to manage the market based on poker, sports betting, and online casinos.
- Secondly, it is simple to receive. The request processing procedure takes only two weeks, after which the licensee gains the world-famous and cheapest license, compared with the other two popular options.
To employ, you can provide a package of documents and return the filing charge.
- Third, the Curacao license is economical. This is the golden mean between high price and safety. It must be renewed once a year.
In addition, the advantage is that Curacao is part of the E-Zone. This indicates that income tax is only 2%, and there is no need to pay VAT at all. Such favorable conditions are guaranteed to remain unchanged at least until 2025, as specified in the law.
Basic qualifications for getting a Curacao license
The Curacao regulator has specific terms that every applicant must satisfy before receiving a license. Of course, GamingLicensing will aid you with each level of the means, but there are a few things you should know before starting the process.
So, before you are allowed to open a firm in Curacao and begin a gambling company, you will demand to store your data, improvement plan, data about the sources of funds, and additional data. These notes are expected to comply with anti-money laundering and anti-terrorist financing statutes and further commercial laws.
The experts will additionally ask for data about any criminal offenses you have committed – you must have no criminal record to happily receive a permit.
At a particular stage, you will require to submit the next papers for consideration (we recommend that you prepare them in advance):
- Certified copies of identity documents such as passport and ID card.
- Proof of registration address (not older than three months).
- Certificate of no criminal record.
- A letter of recommendation from an accountant or lawyer with whom you have been doing business for more than two years, as well as a bank recommendation with the same condition.
- Domain ownership certificate.
- Specific Terms and Limitations of your gaming company with clearly stated plans for reliable betting and customer identification.
- Complete data about the gaming software, including the RNG certification, confirming the fairness of the games, contracts for the purchase of software from providers, etc.
What does it give?
You will have access to all types of gambling. The method of achieving this is very simple, as NonGamStopWager.com points out, with GamingLicensing you can become a license holder in just two weeks. In addition, by operating your online casino, betting shop or poker site from Curacao, you pay very low taxes.
Based on the above information, it can be concluded that the Curaçao option is more suitable for Brits.