1.3. Isle of Man
One of the main problems is that each country has its own rules and requirements for the activities of gambling establishments: there is no single regulatory body and single legislation that all countries of the world would adhere to.
Every new online casino has to follow the new and different rules.
It is also important to understand that not all countries have an extensive and well-thought-out system for the regulation of the gambling market. Very often, entrepreneurs face a situation where, in some country, gambling is not prohibited by decree but in practice, players cannot receive their winnings, etc. The reason for this is the fact that they do not use fiat currencies.
Moreover, you need to transfer the personal data of the players in such a way that their real identities are hidden. In other words, the bitcoin casino format assumes that gamblers will remain incognito.
Some difficulties may arise when you will have to provide customers will an opportunity to make deposits (and receive winnings) in dollars, euro or other fiat currencies. In this case, you really need to find a jurisdiction that takes care of players and in every possible way tries to maintain the services provided by the gambling project at the highest level.
Most entrepreneurs prefer offshore and pan-European opinion for the following reasons:
The last factor determines whether players who like to place high bets will enter your website or not.
This jurisdiction is extremely well-known and is considered one of the best for the acquisition of a permit related to the casino business. According to statistics, every ninth casino works under a permit granted by the Curacao Internet Gaming Association.
Key features of this permit:
The regulatory institution does not require that all servers should be located within the territory of the jurisdiction but online casino owners have to install within the island a transit server, which will record all operations of the gaming site. For its part, Curacao guarantees the security of gamblers.
Malta is the first jurisdiction among European countries to issue licenses for the online gambling business. Since 2004, Malta Gaming Authority allows entrepreneurs to register websites with the gambling content and work legally in the European market.
Features of the Maltese permit:
This country stepped into history as the first one to issue an online casino license (eighteen years ago). Today, it does not provide cheap licensing services but they are worth it. The regulator — Gambling Supervision Commission — has numerous requirements for the activities of a casino on the Internet but it gives huge advantages in return.
You should always keep in mind that the regulator really keeps track of how the licensee operates. The examples are different but if the GSC notices that the firm is not doing what was indicated in the application, the permit will be quickly revoked.
This jurisdiction is recommended to consider seriously only to those entrepreneurs who are sure that they want to be engaged in the casino business on a large scale and at the international level.
A permit from the Gibraltar Regulatory Authority is extremely valuable but also very difficult to get. This country is the member of the EU and is included in the “white list” of the UK, so those operators who have such a permit can advertise their services in Britain, and their gambling clubs will be considered European.
A permit may be revoked if the licensee violates the provisions of the GRA Code. However, it guarantees that your customers will be protected according to the most progressive norms of the gaming community.
This jurisdiction is famous for its attitude towards applicants — they are examined thoroughly. Not only the previous experience, initial capital, and business plan but also the reputation of a person, the gambling software, and any special equipment are analysed.
Features of this permit:
The GCC regulator is actively involved in the development of the legislation and systems for the organisation of the casino market, which stand against terrorism and money laundering through gambling. For this reason, in Alderney, you can get a permit that will guarantee the safety of your players and their finances.
And yet, regardless of the jurisdiction, which granted a license, you will have to collect and accumulate personal data of gamblers. Therefore, their safety greatly depends on the reliability of the software for bitcoin casinos.
Let us remind you once again that when you accept cryptocurrency as the only method of placement of bets, you will not have to worry about the personal data since you only need to know the number of the wallet of the recipient/sender. Thanks to this opportunity, in the coming years, the share of Bitcoin casinos in the market will grow rapidly.
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