UK Licensing Rules
In order to operate on the UK market online casinos needs to have a UK license. It is the UK Gambling Commission which handles the UK licenses for the online casino market, and they have been issuing licenses for online casinos for several years.
Preventing underage people of playing in online casinos and minimize the risk of crimes in the online casino environments, are highly important factors for the UK Gambling Commission. In order to be rewarded with a UK License there are several points which has to be satisfied and those are listed here under:
Proof of identity and ownership: Who are the owners of the company and who are the people applying for the licence.
Proof of finances: How does the financial status right now and the financial background look like of the persons applying for the license. Is there enough money to run a casino?
Proof of integrity: Can the persons applying for the casino license be trusted? Are they honest and reliable people?
Proof of a non-criminal record: Does the persons applying for the license or anyone that is relevant to the application process have a criminal record?
KYC- Know Your Customer
There are several rules the casino has to implement on their site. One of those is that they need to prevent people under the age of 18 to register an account on the site. There must be a KYC process in which ID needs to be provided from the playing showing the date of birth of the player. Furthermore, the player has to prove that the address they have stated is correct, usually by providing a utility bill, telephone bill or bank statement. Depending on the deposit method used, this also has to be verified. You can only make a withdrawal to the same deposit method you have used, alternatively to your bank account. For example, if you have used a Visa card to make the deposit you have to make the withdrawal to the same Visa card. Once all the documents have been provided and approved, a withdrawal can be made. This document verification is made to prevent money laundering and make sure that the account is belonging to the player who registered it.
Upon registration information, such as Name, Family Name, Address and Date of Birth must always be included, which has to be verified during the KYC process. This is to ensure that you are over 18 years old and to prevent players from registering who have been self-excluded from the casino due to gambling problems.
Types of licenses
- non-remote general betting (standard) licence
- non-remote general betting (limited) licence
- non-remote betting intermediary licence
- non-remote pool betting licence
- remote general betting (standard) licence
- remote general betting (limited) licence
- remote betting intermediary licence
- remote betting intermediary (trading rooms) licence
- remote pool betting licence.
For more information about licenses please visit: http://www.gamblingcommission.gov.uk/