August 6, 2020

Myths and Facts about Casinos without a license

Myths and Facts about Casinos without a license

Casinos without a license are gambling sites that do not hold a Nordic (Swedish, Danish, Norwegian, Finnish or Icelandic) gaming license. Although these sites are termed unlicensed, they are equally legit with licenses from foreign jurisdictions. Also, players have the liberty to choose between such casinos and the ones with a Nordic license. However, there are certain myths which might keep the Nordics from playing at an unlicensed online casino. Let’s bust them!

Myth: It is illegal to gamble at unlicensed gambling websites

Fact: Unlicensed gambling websites in the Nordics almost always hold a license under a foreign jurisdiction. They are legal and playing real money casino games on them is legit, too. No law in Sweden, Norway, Denmark, Finland or Iceland says a player cannot register and play at such casinos.

Of course, it is illegal for operators who do not hold a Nordic license to target players from this region via advertisement and promotions. But, even if they accept players, the respective governments cannot penalize or punish them.

Myth: I have to pay tax on my winnings from a foreign casino

Fact: Just because you play at an unlicensed gaming company in the Nordics does not mean you have to pay tax on your winnings. If the casino holds a license within the EU/EEA, winnings generally go tax-free. However, there are some exceptions.

For instance, if the casino has a license from the Malta Gaming Authority (MGA), winnings are not taxable. This is because Malta is within the EU. But if you choose a Curacao-licensed casino, you might have to pay tax. For example, Swedish players winning more than 100 SEK from a Curacao casino must pay 30% tax on their winnings.

Myth: Casinos without a Nordic license are unsafe.

Fact: If you play at an unlicensed casino that does not have a Nordic gaming license, it does not mean that it is unsafe. It depends on which gaming license the casino in question holds. The Maltese gaming license MGA is one of the best and most reliable. Malta Gaming Authority was one of the first authorities to impose restrictions and rules in the gaming industry.

An MGA licensed casino has rules and laws that need to be followed and is not necessarily a worse alternative to casinos licensed in the Nordics. Similarly, UKGC casinos and most casinos licensed by Curacao e-Gaming are safe as well. It is worth noting that every Nordic country has some form of restriction on foreign gambling sites. However, it doesn’t render the latter unfit for play.

Myth: There are no advantages of playing at online casinos without Nordic licenses. 

Fact: The advantages of playing at online casinos without Nordic licenses are more and better. For instance, such casinos are not subject to national self-exclusion programs such as Spelpaus imposed by the Swedish Gambling Authority (Spelinspektionen) and ROFUS put in place by the Danish Gambling Authority (Spillemyndigheden).

Even if you have used any of these programs, you can still play at an unlicensed casino. This is great for players who might have accidentally clicked on Spelpaus or ROFUS or did it without realising the extent of the shutdown. Players should note that it is impossible to cancel the suspension without completing the defined period.

Moreover, unlicensed casinos come with bigger bonuses that are offered frequently. Considering restrictions such as the one-bonus-per-player rule imposed on Swedish casinos, this seems like a better deal. Further, casinos without a Nordic license do not apply the 3-seconds-interval rule between slot spins. Players can also take part in VIP and loyalty programs on such websites.


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Author

Vincenzo Davari
Vincenzo Davari

An iGaming enthusiast that have worked with online casinos and betting since 2017. Ex-chief editor for a sport news outlet, Vincenzo is the stalwart of the team who dares to dream big. He knows content that could be a player’s ticket to a million bucks. A quiet achiever, he believes in working in silence and letting success make the noise. He is also the one who ensures everything in the team works the way it should. We can always bet our boots on that

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