A PAGCOR and FCLRC licence allows any licenced Bitcoin casinos to offer casino owners to increase their market reach. You and other casino owners looking to get this permit must be outside of the country.
PAGCOR and FCLRC licence holders must follow a set of rules in order to get a permit. This includes stopping any local players from playing any of the games on the website.
PAGCOR and FCLRC background
PAGCOR is the Philippines regulation office. The office usually offers a permit to brick-and-mortar casinos, bingo parlors, and other companies that offer gambling games. The office is now offering PAGCOR and FCLRC licence for casino owners who are in a different country.
An offshore PAGCOR and FCLRC Bitcoin and fiat casino licence is only for owners outside of the country. Casino owners that have this permit will only allow players that are outside of the country. Basically, anyone who is in the Philippines cannot play in a fiat or Bitcoin casino that has a PAGCOR and FCLRC licence regardless if a player is a resident of the country or is a visitor. If a local can go outside of the country, he can visit and play in a casino that has the permit from the office.
Requirements to get licensed
You as a casino operator will need to have all games like real-money and Bitcoin slot and other games check for fairness in order to get a PAGCOR and FCLRC licence. Another company that has the authority to check the games must go through a casino’s offerings. Every game must give a random result. This ensures that you will win more than what you bet in the game. It also helps to keep out any games that will trick a player to keep spending money even though he does not have a chance of winning.
A casino owner who is sending one of his staff to the office must give proof of the identity of everyone working in the company. His staff must also go through a series of checks. This is to make sure that the casino owner meets the finances and integrity that the office is looking for in a permit holder. There is also a fee of $20,000 when signing up for a permit. This fee will cover everything the costs of the office in giving a permit.
You can be sure that a casino which has a permit from PAGCOR can offer a safe and fair gambling experience. Any casino owners that might cross the line or violate the rules will need to pay the penalty. An owner also faces the risk of losing his licence.