What is a gambling license?
A gambling license is authorization which is issued by a regulatory agency or body. In the case of Connecticut it would be the Gaming Division of the Connecticut Department of Consumer Protection. Any organization wanting to offer games of chance or games that involve wagering requires an official license, otherwise it is operating outside the parameters of the law. Each individual jurisdiction will have its own requirements, and some are more involved than others.
Rules and regulations
A number of different rules and regulations will be in place to govern the way a licensed organization conducts it business. And as well as the operation it is also concerned with the conduct of any involved in the business. That includes employees, owners, partners and any other companies doing business with the licensed organization. As well as this the rules will be concerned with the auditing and accounting and the fairness of the games being offered.
What to do if you want to apply for a casino/gambling license
Because the rules and regulations vary from jurisdiction to jurisdiction, the best way to start the process of applying for a license is to get professional help. A lawyer from the country or state in which you will be applying for a license will be the person most qualified to offer any advice. Another possibility is to open an offshore company and look to obtaining a license there.
Countries in which this is possible include Malta, Cyprus, Panama and Costa Rica. These particular countries also have the advantage of being lower cost options. A casino/gambling license for one year could cost as little as €20,000. To apply for a license you will need to be able to offer a guarantee of accountability, legality, safety and trust.
The Gaming Division of the Connecticut Department of Consumer Protection
The aim of the Connecticut Gaming Division is to make sure that all forms of legalized gambling with Connecticut is conducted to the highest degree of integrity. In order to ensure this happens it licenses and permits various individuals and entities and monitors operations to ensure compliance with the various gaming laws and Tribal-State agreements.
The Gaming Division operates in accordance with a number of different guiding principles. For example, regulations and procedures have been established and are enforced in order to ensure that gaming is conducted honestly and fairly. Licenses are only issued to individuals, organizations considered to be suitable. Due process is provided for those who have been refused a license or had one revoked.
Thorough testing of games is undertaken to ensure their integrity. Studies are conducted periodically in relation to the effect of legalized gambling on residents of Connecticut. Minors are prohibited from taking part in any legalized gambling. The Gaming Division also supports the raising of public awareness relating to recognizing, preventing, educating and treating problem gamblers.