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Licensing Requirements And Regulatory Compliance

The first and most important requirement is to obtain a license from the relevant regulatory bodies. This will ensure that your operations comply with all applicable laws and boost your reputation as a serious and trustworthy player in the industry. Depending on the country you plan to host your casino, you must apply for specific licenses. The most popular jurisdictions for online casinos include Curacao, Malta, the UK, and the Isle of Man. Keep in mind that the license covers not only the software and the business aspect of things but also the games and casino features you’re offering your players. The regulators will audit your software provider to ensure that it meets their standards and is safe to use. Sometimes, they may require you to use a specific software provider. You should consider this a blessing in disguise, as it will allow you to focus on other important aspects of running your business.

Payout Timing

Next, you should look into the payout timing in your jurisdiction. In most cases, it is 3-5 business days. You should expect this time period to be longer in developing jurisdictions. You will also have to account for weekends and holidays when determining when you can process the payouts. A good rule of thumb is to plan and keep a closer eye on the timing of the payouts, especially in the early stages when you have less traffic and fewer deposits. Small delays in the payout process can create a false impression that your business could be more trustworthy.