So you think you’d like to start up your own online casino. Well, good luck with that. Just like the players who will ultimately come to play inside your online casino if it ever gets off the ground, you’re going to need a healthy helping of luck on your side.
First and foremost, though, you’ll be requiring an in-depth knowledge of all the standards that must be met in order to gain a license to operate an online casino. Each state gaming commission in the US is going to have its own online casino and gambling regulations.
There’s a reason why the majority of online casino operators are entities that have been in the gambling business for many years. That’s because this is a tough business to operate and it’s also a very expensive business to operate.
You’re going to need to go before these regulators and present absolute proof that you have both the required knowledge of how to operate an online casino operation, as well as a succinct comprehension of the laws governing them. Of course, you’re going to need to supply irrefutable evidence that you have access to the necessary amount of cash needed to cover all of the online casino costs.
Speaking of money, you’d better be flush with cash. Online casino licenses aren’t cheap. Expect to spend hundreds of thousands of dollars to get one and each year thereafter in order to maintain it. And you’ll be paying plenty in the way of taxes each year.
The rules and regulations in each state are going to be a little different and those rules often change in midstream. That’s why right off the bat we’d advise you hire knowledgeable legal counsel and keep them on retainer. And you’d also better be squeaky clean, because you’ll be required to submit to a battery of background checks to ensure you’re not a shady character who associates with a known criminal element.
To get an online casino license, you’re going to have to jump through a lot of hoops and display succinctly that you are going to abide by the state regulations to a tee. There’s no wiggle room or gray area when it comes to gambling laws. You’ve got to stay on the straight and narrow, or it could cost you hundreds of thousands of dollars in fines, perhaps even the loss of your operating license.Problem gambling is another issue that you must be prepared to deal with on a daily basis.
The Unlawful Internet Gambling Enforcement Act (UIGEA) is a federal law. You must offer access to help for all problem gamblers through links directly situated on your online casino web page. Check in with the National Council on Problem Gambling and the American Gaming Association to see what the problem gambling requirements are in each state.
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