Slotegrator's tips for licensing your online gaming platform

Many new operators are put off by the cost and difficulty of the licensing process. However, it is important to stress that the benefits of having a licence far outweigh the costs. Here are some of the advantages:

• Safe and secure transactions: Banks and other financial institutions often refuse to process transactions involving unlicensed casinos. A licence, on the other hand, allows the platform to partner with the world's leading payment processors.
• Wide variety of games: Leading gaming providers, like banks, avoid working with unlicensed platforms to protect their reputation. Instead, both established game developers and innovative new studios will happily partner with licensed platforms.
• Player trust: There are a growing number of online forums and resources where players share their experiences and rate different online casinos. One of the first aspects mentioned is whether the platform is licensed or not. Experienced players, i.e. high rollers, will always prefer licensed casinos.
• Access to more valuable markets: Proper licensing can grant easy access to the world's most lucrative markets, where regulators often block unlicensed platforms.
• Sponsorships: In markets where sponsorships and other partnerships are allowed, sports figures and other spokespersons are much more likely to sign deals with licensed platforms.

Obtaining a licence is therefore a key initial step when launching a platform or entering a new market. Some of the most common requirements include background checks, business plan, proof of sufficient funds, software control, compliance control, incorporation within the licensor's jurisdiction and server location.