Gaming Realms Starts to Work in Michigan
Fortunately for all the gamblers, the online gambling regulations and laws are becoming better and better. Getting a license is no longer an easy procedure. The responsible authorities within the state need to provide full approval to every gaming content developer that plans to work in the gambling industry.
Without any doubt, Michigan gambling laws are a bit specific and different. However, that doesn’t mean it is impossible to get a full Michigan license. Fortunately for all gambling lovers that live in that state, one iGaming content licensor and distributor has finally managed to get the approval. That company is Gaming Realms.
A couple of days ago, Gaming Realms got the full iGaming Supplier Licenses provided by the Michigan state. However, things were not as easy as they seem right now.
The First Try in January Was Unsuccessful
This was not the first time that Gaming Realms company has applied for the full license. The first try they had was in January 2021. However, things had gone in the wrong direction, and they couldn’t get the full license. Fortunately for them, things have changed a couple of days ago and they can finally work legally and with peace of mind in the territory of Michigan.
When you look closer, this is not the first state that provided this worldwide famous iGaming content distributor with a license. Until today, there are three states across the United States of America where real-money game enthusiasts can enjoy their content. They are
- New Jersey
- Pennsylvania
- Michigan (since a few days ago)
However, it seems that the owners of this company do not plan to stop there. In the meantime, they have also applied to supply games in Ontario. So far, there is no precise response from the responsible authorities from that Canadian state. However, according to different rumors, the answer will probably be positive.
Michael Buckley Is Happy to See the Progress
For those that do not know, Gaming Realms is a British company that operates in Europe and North America. Michael Buckley is the executive chairman of the company. When the Michigan state provided the license to the company he works at, he shared his thoughts with the rest of the world.
In one of his interviews, he talks about how happy he is to see that his company is making progress in the North American region. He also suggests that the main goal of the company is to provide the same quality of services on both continents, North America and Europe. Thanks to the full approval of the iGaming Supplier License, the company will share its influence and business within the entire state. He also hopes the same thing will happen in Ontario, but we will wait a bit more to see whether something like that will happen soon.
Bonus: Requirements Companies Have to Meet to Get an Online Gambling License
After we analyzed some of the latest news in the gambling world of the USA, it is about time to move to education. As mentioned, getting any form of iGaming license is not easy at all. That especially counts when we talk about the USA where many scandals appeared in the past. Many people were a victim of a scam, so the responsible authorities within the state decided to develop strict regulations and allow people to enjoy their games to the fullest.
Reading this part of the article is good for both, gamblers and potential gambling entrepreneurs. The average player will understand why he is safe. On the other hand, entrepreneurs will know which requirements they have to meet to start a gambling business legally. Because of that, let’s find out how the entire procedure looks.
- Online Casinos Primarily Need to Make a Commercial Agreement with Land-Based Casinos For starters, it is essential that all gambling sites have a commercial agreement with a traditional casino that already operates within the country. All the land-based casinos that work in the USA have already gone through the strict licensing process. That means everything around their way of functioning is legit, honest, and transparent.
- Now, Businesses Have to Get the Online iGaming License
However, that doesn’t mean the online casinos are not going to go through the same check. The agreement serves as an extra layer of protection that guarantees all the customers will remain safe.
Another thing worth mentioning is the well-known skins that are allowed in all states of the USA. These skins actually allow all casinos to form different types of partnerships with a wide range of entities when offering slots. However, when we talk about sports betting, things are not exactly determined yet. There is a big chance something like that will happen pretty soon.
Here comes the main part. Most states where sports betting and gambling are located will have identical requirements. It doesn’t matter if your business is from a particular state; your duty would be to have an intermediary or subsidiary to get the license. Logically, the third option is to start a company within the state which is also a very popular option.
But, before you get the license, the main goal is actually to get a domestic entity. Qualifying for the entity is only possible if you go through 3 different vetting stages. We will try to describe them as simply as possible.
The first one is business entry disclosure. As you could guess, the task of the business owners is to share all the details about debts, audits, and holdings. Despite that, the legal status, as well as the financial stability of the company, are mandatory pieces of information they will have to share. Larger companies often need a bit more time to collect all this information in one place.
The second stage of vetting is named “personnel listing disclosure”. That means all the responsible individuals within the company such as directors and officers have to share personal data. For starters, they need to confirm they were not involved in any illegal activities by providing a clear criminal record. Despite that, it is essential that they share information about their living place, jobs they had in the past, and all sources of income. In the end, they will have to share the same details about their parents, kids, and spouses. If you plan to start a business, don’t worry; all the data you share will remain confidential!
The third stage is game testing. Entrepreneurs have to share more information about the games they will provide. The third-party lab will check out whether the games are using reliable software that ensures honest games. After they confirm the games are legit, they need to deposit 100 thousand dollars to get the license. The license in most states across the USA lasts for five years.
Final Thought
As you see, getting a license as a gambling content creator and distributor is not easy at all. Because of that, people that live in Michigan can be sure Gaming Realms is a reliable company that will make their free time more entertaining with the products they offer.
