The UK is one of the countries where gambling platforms such as www.kingcasino.com are legally allowed. The British Government encourages the establishment of casinos and supports entrepreneurs engaged in the business. According to the tax legislation in the UK, winnings on gambling are not taxed. Instead, casinos and other gambling establishments are taxed on their profits. This tax law is based on a basic gambling principle: players will always lose more than they win. This follows the saying, “the house always wins”.
The UK is the right stop for gambling companies targeting countries with a vast gambling population and lax gambling laws. The rapid slots growth has seen companies float casinos to tap out of the billion-dollar industry. A prominent practice in the UK is using gaming machines in non-gambling premises like pubs, bars, and clubs. You need a license from the Government to have a slot machine on your premises.
United Kingdom Gambling Commission (UKGC) is responsible for licensing, regulating, and advising individuals and companies that offer gambling services in the UK. The body was created in 2005 and controlled all gambling activities in the country.
It must be established that each slot machine must have its gaming license rather than being covered by the license of operation of the casino. This can be very expensive, and it takes some casinos years to get it done.
This article will educate you on how to license a slot game in the UK.
What’s a Gaming Machine License?
A gaming machine license is required in premises or establishments that accept wagers on bets and issue payouts to winners. This license allows you to manufacture, adapt, maintain, install, repair, and supply gaming software in any registered establishment.
Types of Gaming Machine Licenses
The first thing to do before getting a slot game license is to determine the type of license you want. There are two types of licenses:
● A full operating License: This license is for companies or entrepreneurs planning a career in the gambling industry wishing to supply gaming software to casinos and other gambling establishments. It is a business-to-business license, and it is sometimes called critical gaming supply gaming software.
● Linked License: This license allows you to temporarily supply, repair, adapt, and install gaming machines only if they are available to your customers in your establishment.
How To Apply for a Gaming Machine License
The application itself is not tedious; it is straightforward. You must prepare all the necessary paperwork and submit your application to UKGC. You will be asked to provide certificates like a driving license, birth certificate, passport, educational certificates, financial statements, and evidence of tax payment.
The information required for you to provide on the type of license you want to get. You should provide valid information as the body will conduct its background check to know if you merit this license.
Gaming machines and software are pivotal to all casinos as they generate their highest revenue. Slots providers go an extra length to ensure players’ needs are met, ensuring players have a thrilling experience. These providers need a license from UKGC for them to operate in the UK.