Online Cricket Betting Licenses

[vc_row][vc_column][vc_column_text]For a cricket betting site to offer the full suite of products and services in India, they need to have a valid license. Without a credible license the betting site will struggle to provide the right games, payment methods and more. Gambling licenses are extremely important and in this article I will shed light on the different kinds that are available.

What is an Online Betting License?

An online betting license is a certificate that allows bookmakers to offer their products to players. The bookmaker is required to fulfil certain criteria when making their application for the license. Failure to tick all the boxes will most likely lead a rejection of the application. Some of these criteria involve providing a safe and secure environment for the players, providing clear explanation on the bonuses, responsible gambling and more depending on the type of license the betting site is going for.

How to Get an Online Gambling License in India

This depends on the type of license the bookmaker is striving to get. Some such as UKGC and MGA are difficult to get. The betting site will be required to fulfil a long list of tasks to ensure they are eligible for a license. Others in the case of Curacao are much easier to get. Once the betting site has narrowed down the license they want to get, they will then need to ensure the operation is being run by a legitimate company. The governing body awarding the license will conduct a thorough investigation on the owners, directors of the company. These said individuals will be required to provide their passports, proof of business address and criminal background. They might also be asked to provide references from their respective bank.

The entire process of applying for a license incurs a cost to the owners of the license. They will be required to pay the initial licensing fee as well as annual fee to keep the certification going. The exact cost of the license depends on the one you are going for, some such as Curacao will be cheaper to acquire than the aforementioned UKGC.

Can an Indian Bookmaker Operate Without a License?

Yes they certainly can. This was the case of a now defunct entity known as King Exchange. King Exchange was set up to provide betting and casino related products to Indian customers. However not having a legit license meant that they were unable to provide the full suite of games to their customers and were ultimately shut down by the authority. A common theme that you will notice on Cricket Betting Wali is that I will always encourage you to stay away from betting sites that are not licensed. Below you find some of the more popular licenses that have been acquired by bookmakers offering their products in India.

Malta Gaming Authority (MGA)

MGA is considered to be one of the premium licenses one can acquire. The governing body has been in operation for the past two decades and the MGA seal can be found adorned on most gambling websites. The license however is not easy to acquire and apart from paying the €100,000 license cost, the operator is required to jump through many hoops when making the application.

United Kingdom Gambling Commission (UKGC)

In order to operate in the UK, you are required to have a license from the UKGC. The license is extremely difficult to get and asks bookmakers to focus on issues surrounding responsible gambling, anti-money laundering and so on and so forth. If India is your target market then you are better off getting a different license altogether.

Curacao

The most popular license when it comes to providing gambling services in India, Curacao is the cheapest license to acquire. The application is relatively straight forward and has one of the fastest processing times. To put this into perspective, it costs just €2,000 to apply for the Curacao gaming license and takes the licensing body six weeks to approve or reject your application. This is great for smaller bookmakers who may not have the resources and time of the bigger brands.

While there are other licenses as well such as the Isle of Man, Costa Rica, Estonia and Gibraltar, the licenses mentioned above are perfect for those looking to enter India.[/vc_column_text][/vc_column][/vc_row]