A Cursory Look at PAGCOR’s Online Gambling Licensing and Regulation

When contemplating to operate an Asia-facing online casino, PAGCOR is the likely authority from which to seek licensing and regulatory oversight. Inasmuch as most Southeast Asian countries do not support gambling as a legal business, the Philippine Amusement and Gaming Corporation took on the responsibility of overseeing online casinos offering their products and services in neighboring Asian countries, in exchange for licensing fees and taxes on gaming revenues.

Mobile gaming apps and other systems of network communication make it possible for online casino operators to offer their gambling products to Asian players.

Nonetheless, a critical criterion that Asian punters look for when choosing an online casino is the trustworthiness of the operator. More often than not, they prefer to play only at licensed online casinos that are tested and certified in terms of fair and equitable gaming systems, especially on games of chance. In indonesia, one of the most popular PAGCOR-licensed online casinos is vslots88.

The Philippine government accepts licensing applications from local and foreign companies seeking to establish an online gambling business, through the Philippine Amusement and Gaming Corporation (PAGCOR) as well as through authorities of the country’s economic zones, namely: the Cagayan Economic Zone (CEZA), the Freeport Area of Bataan (AFAB) and the Aurora Pacific Economic and Freeport (APECO).

Regulations and monitoring of compliance with gaming laws and regulations, are the sole responsibilities of PAGCOR.

Overview of the Licensing and Regulatory Requirements Imposed by PAGCOR

First off, the Philippine government has an ambivalent stance with regard to online gambling operations, because basically, the country also considers online gambling as illegal.

However, inasmuch as foreigh igaming companies have the technical capabilities to offer online gambling through the power of the Internet, PAGCOR conceptualized a system by which the Philippine government can capture a share of the revenues earned from illegal online gambling operations.

Rather than take action by blocking their entry, PAGCOR offered these companies licensing and regulatory oversight as outsourced gambling operators, whilst officially categorizing them as Philippine Outsourced Gambling Operators (POGOs). The classification clearly defines a POGO business as one that can develop and deliver online gambling products in other countries only and not offer them locally in the Philippines.

To date, more than 55 companies have been licensed as POGOs by PAGCOR, from which the country has collected multi billions in revenues, not only in terms of taxes but from other related aspects of online gambling operations as well.

Major PAGCOR Requirements for POGO Licensing

Aside from the  2% taxes on gaming revenues earned as outsourced gambling operators, companies must also pay 5% in franchise tax,

In addition, POGOs applying for a license have to pay US$150,000 as application fee. iI approved, $200,000 will be paid as licensing fees, $300,000 will be collected as security bond fee, and a minimum of $150,000 will have to be paid monthly as Minimum Guarantee Fund.

A licensed POGO must have an established place of operation in the Philippines; to which PAGCOR requires occupancy of a space that has a floor area of at at least 10,000 square meters.

POGOs may employ foreign nationals as part of their work force but are required to submit the foreign employees’ names to the Dept of Labor and Employment (DOLE) as well as register them with the Bureau of Internal Revenue (BIR). Mainly because POGOs are required to report and remit taxes withheld from salaries of foreign employees working in the Philippines.

A POGO must pass testing conducted by Gaming Laboratories International to see if the operator can successfully block Filipino residents from accessing POGO online gambling sites.

Moreover,the online gaming products and services of a POGO must pass testings performed by BMM Testing Laboratory on all games and security processes, in accordance with PAGCOR’s standard requirements on all licence holders of casino gaming operations. .

Any non-compliance with such requirements can serve as ground for PAGCOR’’s non-approval or revocation of a Philippine POGO license.

Warning: Don’t Start an Online Casino Site without Reading This

For any kind of gambling related activity that’s planned to offer online whether it is sports betting, bingo, poker and lotto, securing online casino license should be the top priority. Meaning to say, even if you have https://www.onlinecasinoawards.net/20-free-no-deposit-bonus/ but fail to secure a license, it will render useless.

How Impactful Online Casino Licenses?

The absence of an online casino license jeopardizes the operations and success of any online casino. It for the undeniable fact that operators would not be able to open a bank account or put any casino games to their website.

The thing is, getting a license is easier said than done. To add to the level of difficulty, different countries have unique set of requirements. Don’t rush to conclusions that you can simply operate anywhere you want simply because there’s a license for the online casino. At the same time, legal regulations of a local state might be inconsistent and a nation which may had no problems with an online casino might enforce a law that prohibits gambling activities on its territory.

With a gambling license, this amplifies the trustworthiness of a casino site towards interested players. This is going to clear concerns of fraud casinos like rigging as well as non-payment of winnings. This is because casino licenses have a reputation of auditing the random generated numbers on a regular basis. It is intentionally done to maintain fairness and transparency of the site and games offered. After that, licensing bodies are giving the casino site compliance certificate as per the examination results. Generally speaking, licensing information of any gambling website can be seen in the footer. Seasoned players are quick to scroll down to the bottom page to be able to view the jurisdiction of where the website was licensed.

Speaking of jurisdiction, there are several known jurisdictions that are providing licenses to various countries and these are discussed in the following:

Curacao

Looking for 0% tax on revenue generated by the online casino, low ongoing expenses partnered with fast licensing that is done for roughly 90 to 120 days? If yes, then Curacao is where you should be heading.

Kahnawake

This was founded in 1996 by the Kahnawake Gaming Commission. Their first yearly licensing fee is at 40,000 dollars while the renewal fee and software inspection costs 10,000 and 15,000 dollars respectively.

Gibraltar

To obtain a Gibraltar license, owners of online casino should provide evidence of a solid financial track record, show a solid business plan and at the same time, be ready in executing transactions that is exclusively done via Gibraltar’s banks.

Few Minute Details to Secure before Starting an Online Casino Business

Believe it or not, the gambling industry easily generates around a million dollar per annum. Because of this, many entrepreneurs and business-minded people were convinced to join the bandwagon and take a piece of the cake. There are tons of things that have to be organized planning to start an online casino and ufabet followed all the rules to deliver exceptional level of service.

Though, before you deal with anything that comes with an online casino startup, the initial thing that you have to consider is the capital you need to pull it off. In any business, it all starts with the financing. In essence, starting a casino over the web will require anyone a budget of nearly 2 million dollars. The challenge here is, you ought to recoup your capital within the next 2 years. This is if you generate enough attention for people to play in your online casino.

Think it is Easy?

But what are the things that you would need to secure in the first place?

Securing funds

You may secure your financing via different gambling entrepreneur organizations. There are a lot of people who are actually willing to offer funding to gambling establishments. With the continuous growth of online gambling, if you back up your idea with a good business plan and outstanding permeation strategy to big gambling markets, you have a high fighting chance of getting an investor.

Software

There are many different software providers that you can choose to run your online casino. For the purpose of this article, let us focus on the most popular and respected ones.

An example of this would be Microgaming. The company has already developed more than 450 casino games online. And just a single poker user would require quarter of a million dollars for their main package in which the price may decrease or increase depending on the operator’s willingness to payback the loyalty bills which are normally 15 to 40 percent profit of the online casino per month. Then on Playtech, their main package range from 200,000 to 300,000 dollars.

Licensing

The next course of action is to work with gambling jurisdiction.

You just can’t operate your online casino without securing a license. Basically, the jurisdiction indicates a special field in which you can legally host your servers for online gambling.

Depending on where you will apply for a license, the price will vary. You should do your research to have an idea how much to expect.

How to Withdraw Your Winnings from the Online Casino?

Today, it is easy to find an online casino to the point that doing a quick Google search and you can immediately find hundreds to thousands of relevant results such as https://www.onlinebadugi.org/. With this being said, deciding which one to play may be a difficult one.

In an effort to make the best choice possible and make the most of everything as well, it is ideal if you are going to take into consideration of all the aspects of a reputable and established online casino ahead of time. Without a doubt, an important element of the online gambling experience is being able to safely withdraw your winning whenever you like.

Thus, you have to be aware of the payment options available which can be used in cashing out your winnings. With regards to the entire withdrawal process, it is a straightforward procedure and it could be done within minutes. While it is true that most online casinos have its own policy for withdrawal, the process is the same.

Withdrawing Your Winnings from the Casino Site

Generally speaking, to be able to request for a withdrawal, it’ll depend on the extent of payment method as well as on the online casino you are playing at. On the other hand, as what’s mentioned, there are steps that will be taken, no matter what the payment solution you have opted for.

The very first thing to be done is to login to your account and look for the cashier’s section. You must locate this easily since this is the section where you have deposited your money as well.

Then after, you must select your preferred withdrawal option to cash out your winnings. If you’re wondering which withdrawal payment is preferable, it is best that you stick to the payment method that you trust and been using. Through this, you’ll have peace of mind that your personal information and bank details are safe and secured.

The Final Step

Once you are through choosing the payment method, the next step is filling out relevant information similar to personal or financial information. It must be noted that it solely depends on the payment option you have selected. There are methods that are not requiring you to fill in any information whereas others do. Bear in mind as well that each and every payment option offers maximum and minimum limits with regards to the withdrawal. The same is applicable for processing time as it will depend on the payment service provider’s policy.

How Casinos are Dealing with Ethical Issues?

Let us all face the fact that gambling and the entire industry is linked to money and because of this, expect that the framework of morality will always be opened and discussed. This is true given the fact that online gambling like Mega888 and several other casinos are now on the rise. As a matter of fact, it created several ethical issues among people.

Why countless individuals are still puzzled whether gambling is a sin, they have a high tendency of confusing particular unfairness or addictive behavior with casino entertainment as a whole. Gambling is another form of having fun in which it has recreational purposes and might offer the benefit of promoting social interaction. Not only that, it is fulfilling human needs for dream and hope. Well, it is safe to say that it is totally fine, so long as the person approach gambling with moderation.

Economic Impact

Ethics touch the subject of how an industry is influencing its community. While there are many believers that gambling is provoking greed and taking advantage of the poor and weak, you may say the same thing about any activities related to money and it’ll be true to one level. The fact is, gambling establishments are bringing in great revenue to local infrastructure.

Casinos are creating employment opportunities and many of the jobs are available as well to those who were not able to finish college. Not to mention, the tax from these casinos, this boosted US economy tenfold.

We can discuss everything about morality of capitalism but it is the only stable and logical economic growth benefits for all areas of the society. There are just so many contradictions regarding how money is received from these casinos are used but, it is not enough reason to make claims that the industry is immoral and at the same time, socially harmful.

How these Ethical Issues should be addressed by Casinos?

Since winnings and losses are all part of gambling, it is imperative for casinos to be open of what they are offering. Every customer that comes to their facility or enter their website must know what the risks associated when playing.

Any decent and reputable casinos are respectful among all its clients, giving players the freedom of their choice and control and taking accountability for any negative impact. It may be hard to say for some but gambling has actually given people relaxation, hope and also, thrill. If you will just stick with the reputable casinos and set a limit for yourself, your casino gaming experience will be a fun and healthy one.

Starting an Online Gambling Business

How would you start an internet gambling business? Keep on reading to find out.

There has been a rise in the internet gambling business in the previous years with an ever-increasing number of businesses entering the online gambling industry. This means that it’s getting increasingly challenging to remain on top of the game and separate yourself from the rest.

In any case, what should you do to have an advantage over other competitors?

Despite the fact that we may not offer a secret formula for establishing the best betting business in the market such as the xe88 , we can certainly provide all the essential information to start one.

Elements to consider before developing an online-based gaming site:

1. Pick a solid gaming programming provider

This is the most important choice to make since you will enter a protracted organization with your programming provider. Take as much time as needed to assess the current choices that are being offered in the market right now.

You need to pick a product supplier that has sufficient knowledge and experience when it comes to online gaming industry and involvement with successful online gambling companies.

2. What specifically would you like to include on your web-based betting site for your customers?

When you chose to venture into the online-based gaming market, there are a couple of questions you have to answer yourself before you continue:

  • What kind of programming will you use on your internet gambling webpage?
  • Will you simply offer common betting games, similar to slots, roulette, baccarat, blackjack, bingo, or poker?
  • Shouldn’t something be said about a live betting game? Nowadays, competitive sellers provide live video streams, and easy to use interfaces that bring the gambling club to every player’s home

3. Pick several modes of payment

At the point when you start an online gaming business, you have to settle on what type of payments you will offer to the gamblers so you and your players can easily make fast transactions. For convenience purposes, it’s recommended that you give players various payment choices – installments, down payments, etc.

5. Give emphasis on the over-all design of your web

How your website looks like is very crucial. You have to pick a catchy design or offer a simple interface and promos into your home page since it is the first thing your prospective clients will see. It is important to include discounts and flexible payment options since this is what makes you stand out from the rest.