UK Online Casino License: a Reliable Business With High Profitability
The Rosloto company is engaged in the development of turnkey integrated casino solutions. From us, you can also purchase the United Kingdom gambling establishments. This is an easily administrated and profitable product with the short payback period. Moreover, the UKGC license is considered to be one of the most respected permits since it holds high positions in the rating of the best tax jurisdictions in the world.
The modern UK gambling business operates in accordance with the Gambling Act, which was adopted in 2005. Before that, the spheres of the England gambling industry were separated and regulated by various legal rules that often contradicted each other. The new legislation of a country (minor changes were introduced in 2014) has established clear interaction rules and opened up new opportunities for investors.
The Gambling Act regulates the following aspects:
- Basic concepts and definitions.
- Creation of regulatory authorities, as well as their rights and obligations.
- Possible violations of the law.
- Prevention of ludomania, protection of minors.
- Types of licensing.
The legislation takes into account not only businessmen who are engaged in gambling but also those companies that provide several related services. These are developers and testers of the gambling software, manufacturers of the equipment (servers, modems, memory modules, and other things), and companies that provide technical support and maintenance.
The United Kingdom gambling business is subordinated to two authorised bodies:
- The UK Gambling Commission (UKGC), which is responsible for all issues related to casinos in England and other types of gambling;
- Committees on licensing (Licensing Authorities) that operate locally (in London, Birmingham, Manchester, and other major cities) and consist of the representatives of municipal authorities.
The list of the advantages of obtaining a casino license in UK includes the following items:
- Perfect international reputation. To own an online casino in the UK is prestigious, and it automatically affects the base value of the company's shares and its popularity among partners and customers. Not all operators can obtain this permit, which once again confirms its great value.
- Transparency of the business. The legislation was created in such a way that illegal or shadow activity is simply impossible.
- Work throughout Europe. A casino with UK license can operate successfully in other European jurisdictions as well, and no additional permits will be necessary.
- Average taxes. Tax rates are not as low as in Malta but they are still less high than in America or the Asian market. Businessmen will not need to pay VAT and some other fees. Instead, they will have to pay a turnover tax, which is calculated as a certain percentage of the net profit.
- A large selection of the related services. In Britain, consulting and outsourcing are very well developed, any equipment and software is available, and the marketing industry also works great. All of these areas will help you to quickly launch an online casino UK and make sure that it will be successfully promoted in the future.
Currently, UKGC grants several types of permits:
Remote Gambling Software
It is granted to software vendors and suppliers of equipment for the gambling industry. Manufacturers and developers are responsible for the quality, reliability, and safety of any technical matter in accordance with UKGC standards
Remote General Betting Standard
It includes pari-mutuel betting and other betting services on the Web. It is issued exclusively for those businessmen who are planning to accept bets on real events
This license allows you to manage a casino UK and other virtual gambling platforms and advertise products
Another type of document ― a license for premises ― is issued by local committees. Its purpose is to legalise the activities of companies involved in land-based gambling (casinos, gambling halls, and betting shops).
Filing of an application to UKGC can be done only in the electronic format. To do this, it is necessary to go to the official website of the commission and fill out a special electronic form.
The next step is to send scanned copies of the required documents. They must confirm the legitimacy of the business and provide comprehensive information on all shareholders and ultimate beneficiaries of the company.
It is important to provide a detailed business plan with the expected capital turnover and ways of financing and replenishing the authorised capital. All documents must be notarized.
A few more mandatory requirements for those who want to obtain a casino license in UK:
- The equipment for online gambling must be physically located in the United Kingdom.
- It is necessary to rent a real office and hire a local manager (this information can be checked in the registers of Social Insurance Funds).
- All money received from transactions and funds that need to be paid as winnings should be stored in different bank accounts. The aim of this clause is to protect users from insolvent resources.
- Operators should also provide the secure electronic transfer of data that is related to confidential information on customers.
- Gambling establishments with the UK license should keep a close eye on the fact that minors must not play casino games on their virtual platforms.
The average time for application processing is from 4 to 6 weeks. The good faith deposit is 175.6 thousand pounds, and for the permit itself, it will be necessary to pay 25 thousand pounds. This is the minimum amount: after a detailed study of the package of documents, UKGC names more specific figures. After companies pass a licensing procedure, they are obligated to pay 15% tax of the net profit annually.
In such developed countries as England, gambling is always associated with transparent and highly profitable activities. It is time to launch your own casino in the United Kingdom using the services of Rosloto.
We provide a full range of solutions that are aimed at the quick opening of a gambling service on the European continent.
If you cooperate with us, you will receive the well-thought-out software, original video slots, professional payment modules, and high-quality technical and marketing support. All services can be ordered separately or you can just purchase a ready-made online casino.
Do you still have questions regarding the English tax jurisdiction? Then contact our managers and get a close consultation:
- by e-mail: email@example.com
- on Skype: rosloto_connect
- in Telegram: @rosloto
- via the feedback form.