The outbreak of the pandemic Covid-19 has given a debilitating crunch to multiple sectors worldwide. It is, undoubtedly, evident that millions of people have lost their livelihoods, and finding a new way for breadwinning would be a catch 22.
However, the positive side of the outbreak is the birth of new ways of spinning money. Grasping the best opportunity, the online casinos have entered Indian markets. With this, they’ll not only expand their business cobweb but help many people to earn as per their comfort. However, the stringency in the regulations of the gaming act makes it a tough nut to crack for acquiring an online casino business license. Before setting up an online casino business in India, a company requires to follow the regulations. Here’s how.
Online Gambling/Casino License- The Steps of Acquisition
The whole process might be a bit time-consuming. It all begins with incorporating the company in India which includes having an Indian bank & merchant account. Furthermore, collaborating with electronic payment providers, and having legal gaming content is a must. Moreover, you need to follow the steps mentioned below:
- Always conduct thorough research before investing. Going through the e-gambling setup expenses, taxation, and the application processing time is necessary for better results
- Submit a copy of essential documents like identity proof, residence proof, and reference from the bank
- Ensure that your casino set up matches the jurisdiction requisites. A list consisting of detailed description of software functionality, software providers agreement, and RNG certificate
- Check for the information required by the gambling jurisdiction like some special terms and conditions related to withdrawal policy
The Expert’s Word
Mattias Bergehed, CEO & Co-Founder @ EsseNVideri Media LTD., says, “We see a steady increase of requests from European online casinos that want us as their partner in Indian. Competition is always healthy, and in general, I believe this will have a positive impact on our Indian players since they will be able to enjoy better products, offers and smoother payment methods.”
Why License is Essential for Running an Online Casino?
When you own a vehicle, the authority issues a driving license that certifies a person as a legal driver. When cops pullover, they ask for the license. If you produce the license, things will be good and if you fail, a hefty fine awaits you.
The same happens with online casinos running without a license. They’re classified as illegal because they violate all kinds of casino/gambling laws.
The prominent risks while gambling at such casinos is the risk of exposure to investment and personal details. Moreover, you may lose deposits and winnings. Surprisingly, 10cric.com is a noted website that operates across the Indian subcontinent, with a valid gambling license, acquired from the Curacao government.
You can read more about casino licenses at SevenJackpots
Summarizing on a Whole
Undoubtedly, the online casino and gambling business is gaining pace across the Indian subcontinent.
It entertains and offers a great “return on investments” as well. Hence, it becomes mandatory for every company that wants to invest as an online casino in India to gain a legal license.
The acquisition of an online gambling license in India is facile due to amended policies and smooth processes, only if the documentation is appropriate.
