In Canada, online casinos are some of the most popular forms of entertainment [1], and this is due to the variety of games and ease of access. This isn’t surprising as the gambling industry is responsible for a significant part of the annual revenue generated by the country.
The Canadians have a deep history of gambling, and there are several luxurious casinos spread across the country. The Canucks spend over $1 billion on casino games every year. The legalization of single-event betting by the Canadian government also played a role in pivoting the fame of the online casino industry within its borders.
Canadian online casinos are known for their state-of-the-art security, which creates a safe and secure gaming environment for its customers. And this is because these platforms are usually regulated and licensed by the Kahnawake Gaming Commission, which is one of the most reputable gaming commissions in the world. Players can enjoy access to their favourite casino games including slots, poker, roulette, blackjack and more.
Due to its popularity within the country, new online casinos have been popping up every now and then in Canada as everyone is trying to get a piece of the pie shared within the Canadian gambling space. However, obtaining a license to operate within the country is a different matter altogether as the requirements are quite strict and you’ll have to wait for as long as six months before you can get your license. Are you trying to obtain a Canadian casino license? Follow these few steps;
Business Registration
The first thing you need to do is register your business in Canada to notify the government about your company, and you’ll be given a registration number that will be issued by the Trade Register [2]. You’ll need to study and understands the laws of gambling in Canada, which vary with provinces within the country. Once registered, then you can apply for the casino license, with a prerequisite of your online casino’s website and the domain name being registered.
How To Obtain A Gaming License
The main steps to obtaining a gaming license from Kahnawake for your casino are to first appoint a key person, then ensure you have prepared all the necessary paperwork, submit your application and pay the application fee, wait for four-eight weeks, and launch your online casino.
Appointing A Key Person
After registering your business with the Trade Register, you should proceed by appointing someone who will be representing your company and could also act as the middleman between your online casino and the Gambling Commission. When you’re appointing someone for this role, you should ensure that they are experienced enough in this field.
Submitting The Documents
Before you can obtain a Kahnawake [3] gaming license, you must submit all the necessary documents being asked for. Ensure to have all documents available, so things will run smoothly, and you’ll not have the risk of the application being returned with a request for additional information.
Some of the documents required to obtain a license are an application for a Client Provider Authorization (CPA) license, a Business Entity Information Form, a Control System Submission, annual reports, a list of directors in the company and many more. If you’re looking to obtain a license from the Kahnawake Gaming Commission, you should look more into this to avoid your application being rejected.
The Wait
Once all the necessary documents have been submitted, you have three potential outcomes; the commission approved your application and issues the license, denies the application, or returns the application with a request for extra information.
All of these will take up to four to eight weeks before you’ll get any form of response from the commission. Once your application is approved, your platform will be issued a license for six months.
However, the wait is not over just yet. During these six months, your platform will be under scrutiny by the commission who will be reviewing your site’s performance to know if it operates like they expect a legitimate casino. The Commission will also carry out its research for complaints from players or third parties, and if the platform has breached any laws and regulations.
The Commission will decide whether to renew the gaming license for five years, decline to renew or extend the term of the CPA for another three months, depending on the result of the investigation carried out.
Conclusion
Although the process of obtaining a gaming license in Kahnawake may seem stressful when compared to other gambling jurisdictions, its benefits covered all of that. The jurisdiction has a 0% corporate tax rate, and you’ll also receive no additional gaming tax. Plus, the cost of obtaining a license with Kahnawake is lower than in some other jurisdictions.
Obtaining a gaming license with Kahnawake Gaming Commission means you’ll be able to operate in almost all markets except the USA. However, this is with the prerequisite of operators conforming to the rules and regulations set by the target markets. Do this, and you’re good to go.
Sources:
[2]: https://www.canada.ca/en/services/business/research/directoriescanadiancompanies.html[3]: http://www.kahnawake.com/