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Licensing is Lucrative

Online casino licensing jurisdictions are cropping up all over the world as some smaller nations see the value in offering a robust and reputable licensing regime. The fact is simple, internet gambling brings in money. Although there are certainly instances where individual online casinos have failed, the industry as a whole generates enormous revenues and has expanded onto every continent in the world. Licensing jurisdictions though are in an interesting position because the online casinos operate right out of these locations and often fully support the island and local economies with high paying jobs and good revenue.

It’s also interesting to note that licensing jurisdictions are often run out of island countries – smaller islands that may have little in the way of tourism and are therefore looking for other lucrative ways to boost their economic status and bring in foreign dollars. Cyprus is a perfect example of a small island nation that has completely created an economy based on the success of the online casino gambling industry. And for that reason it’s also interesting to set that the Cyprian officials are now waffling on the best way to handle the copious amounts of actual internet gambling that is taking place from Cyprians themselves.

The current conundrum for Cyprus, as well as other licensing jurisdiction is balancing the fact that the island nation licenses these online casinos for the global market and yet some licensing countries are interested in blocking internet gambling from their own markets – a bit hypocritical but a current and very valid concern that has gripped some of the global licensing jurisdictions.