Betting companies with UK license – What is UK betting license?
Betting companies with UK license? Which betting company has applied for a license? As far as betting licenses in UK are concerned, both betting companies with a UK license and casinos with a UK license, can be kept good track of. This is due to the fact that it concerns a new UK betting team for those betting companies that want to conduct betting online.
We at Silly Season would be more than happy to go through a little about this for you. This means, for example, that we should do the following: go through what betting companies with a UK license are about, and what the betting licenses mean. We will also take a look at what the advantages and disadvantages of having a UK betting license are.
Betting companies in UK must have betting license
Betting companies with UK license? Who have searched for a betting license? Only betting companies with UK license will be legal in UK. For the casinos and betting sites that do not have a UK betting license, they will be dissolved. Hence, the betting companies in the market have only one choice in order to be legal in the UK and that is to get a UK betting license.
It is a requirement, for several reasons. But with the licenses, UK will be able to put certain demands and pressure on the betting companies to follow certain rules. Something that will be especially good for the betterment of the members of the betting company and so that there is no crime or foul play involved in betting.
Betting companies had to apply for license
How does the process of applying for a license look like? The new law on betting licenses came into force in 2014 under the name ‘Gambling Act 2014. It was then that most betting companies chose to apply for these licenses directly. We will, of course, dig deeper on this very soon.
There are no exact figures on how many UK and foreign companies have applied for a UK betting license. However, it is safe to say that over a 100 companies in and outside UK each have applied for UK betting license. Several of these are betting companies with UK license.
Silly Season explain – What is a UK gaming license?
What are betting companies with UK license? Now, we will come to the most important part of this article. What is actually a betting license in UK? y having a UK betting license sanctioned by the UK Gambling Commission, any betting company in UK can conduct betting in the UK. For companies outside UK, UK citizens can do betting on that company.
However, there are certain rules and regulations to be kept in mind like taxes, etc.
Place bets legally in the UK
Gamblers in UK can place bets on a variety of fields and this is completely legal. Betting has been prevalent in the UK for centuries now and people have been frequently placing bets on a number of things. But now it will be possible to place bets for money via organized circumstances, without government involvement of any kind.
There are several betting companies in and outside UK which are betting companies with UK Betting license. These include major companies like William Hill, Betfair, Unibet, bet365 and numerous foreign companies. It was a matter of course for such a large side, with good check on the UK market to continue. For this, you will be able to play really good casino and odds, on a betting page page that can be trusted.
All betting companies with UK license
Here are the betting companies with a UK license.
More betting companies with UK license
Here you find some more betting companies that you can use in the UK. All of them are betting companies with UK license. Some of these companies are well-reputed while some are rapidly growing.
Pros and cons for betting companies and players
The law which forces betting companies to apply for a betting license in UK, has several changes in them. Hence there are some things to keep in mind for the betting companies which have a UK betting license. This applies both to you as a player and to the betting companies that are out there.
As a player, there will be many more restrictions when it comes to security. For example, there is a certain deposit limit for numerous betting companies.
This gives higher security to the players, but the betting companies also have to be very careful about certain things. They are not allowed to market themselves in the same way anymore. Additionally, they also look through things as if a member is at risk of becoming / being a betting user. Then they have to be contacted in order to solve that problem.
Safe and fast withdrawals
Why do we bet? To earn some extra money of course. Hence, for the people who place bets, withdrawal is a very important thing and they often prefer betting companies that have fast withdrawals. Deposits are always done fast but that’s not always the case with withdrawals. There are a number of betting companies where withdrawal is a massive issue. The betting laws tighten security. However, for the sake of security, several betting companies hold the earnings of a player for a while. In certain companies, withdrawals can take as long as a week. For instance, if you use Bank Wire, payments can take from 2-10 days.
However, there are many payment methods which have instant withdrawals. These include VISA, Mastercard, Neteller, Skrill, Skrill 1-tap and Astro Paycard. Several of the top betting companies use these payment methods.
UK Gambling Commission
The UK Gambling Commission is a non-departmental public body of the UK Government. It monitors gambling and the laws related to it. It was founded in 2007 under the Gambling Act of 2005. The UK Gambling Commission also provides license to betting companies.
Pros and cons for betting companies with UK license
We would like to finish by adding some pros and cons of betting companies that have a UK License. Of course the biggest advantage is that UK betting companies can conduct betting legally without any kind of hassle.
There are several illegal betting companies. Hence, people who are running the company as well as the players placing bets there are always at risk of getting arrested. Hence, the betting companies with UK license are safe and won’t have the fear of prison.
One major con with UK licensed betting companies is that you always have to pay taxes on winnings.
Also Read on Silly Season:
Betting sites with fast withdrawals