Thursday, December 8, 2022

Is it hard to get a formal licence for a slots website?

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Staff Writer
Staff Writer
Africa Feeds Staff writers are group of African journalists focused on reporting news about the continent and the rest of the world.
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If you’re looking to set up an online slots website, there’s no avoiding the fact that you’re going to have to work with the UKGC – try and play Pots of Gold slots for fun.

The UK Gambling Commission is a governmental body set up specifically designed to regulate and monitor every organisation that provides a gambling service in the UK. Each online slot site is therefore required by law to obtain and display their licence from the UKGC in order to comply with the 2005 Gambling Act.

If you’re playing on a slots site without the UKGC’s approval, you’re at financial risk and you should unregister in order to protect your funds.

This is because the UKGC ensures that online casinos follow the measures put in place so that all online gamblers are protected from cyber-crimes in the shape of money laundering, bank scams, and general online fraud.

How is the licence obtained?

In order for the UKGC to approve the licence, online casinos must be subjected to an official screening. This involves a series of tests being carried out in order to gauge whether the standards set out by the UKGC are being met.

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If any aspect of the screening isn’t up to scratch, the online casino won’t be granted a licence by the UKGC.

Who needs a UKGC licence?

It isn’t just online casinos that require this licence, however. Plenty of people run remote casinos, providing games via mobile phones or televisions. These people will need a UKGC operating licence too.

As the rules set out on inform us, you need a licence from the UKGC if:

  • you are providing facilities for gambling to consumers in Great Britain online (or through any other means of remote communication)
  • any part of your remote gambling equipment is based in Great Britain. 

What are the UKGC’s main aims?

Apart from protecting your money in case of fraud or scams, there are other reasons as to why the UKGC is a fundamental organisation. The UKGC website explains that they aim to:

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a. prevent gambling from being a source of crime or disorder

b. ensure that gambling is conducted in a fair and open way

c. protect children and other vulnerable persons from being harmed or exploited by gambling

Is it easy to get a licence?

If you decide to run a slots website and therefore need a licence, you will need to show a clear ownership structure, demonstrate sufficient financials (showing the ability to pay out prizes), prove your integrity, and have a clean criminal record.

As you can see, the process is a strict one, and probes deep into any company’s background extremely thoroughly.

Why is all this necessary?

As mentioned before, you should never play on an online casino that is unregulated by the UKGC. That will ensure that all players’ personal data is securely stored and is not misused.

What’s more, all online casinos must hold player funds in a separate account from their own accounts containing outgoings and expenditures.

Why? if a casino goes bankrupt or runs into severe financial difficulties, this guarantees that your money in the e-wallet is still safe and can be easily recovered.

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