Cagayan Economic Zone Authority (CEZA) License
The online betting sites operating in Asia sought Cagayan Economic Zone Authority (CEZA) License. This regulating body is in the Cagayan region of the Philippines and promotes economic growth. It authorizes igaming companies, especially offshore.
Why Choose the Cagayan Economic Zone Authority (CEZA) License?
Online gambling platforms across the world choose the CEZA license to enjoy several benefits it offers in its jurisdiction. Here are a few reasons,
- CEZA allows operators to enjoy a favourable tax regime. The corporate tax rates are reduced, and bookmakers can function with lower costs.
- Obtaining and maintaining the CEZA license is very easy and regulated. Operators need not go through tedious processes to get their license regulated, as CEZA acts as a single stop point for all regulatory compliances.
- Since the establishment is in the Philippines, which has a stable and business-friendly environment, betting sites seeking political and economic stability will choose CEZA to avoid future hurdles.
Who is authorized to get the CEZA license?
Online betting apps or sites that seek the CEZA license must be transparent and protect their users from cyber fraud. Here are some key factors that operators must maintain to become CEZA-licensed bodies.
- Operators must carry out a rigorous KYC (Know Your Customer) process. All the user's identities need to be varied and data privacy should be implemented to reduce identity theft cases.
- The betting sites must execute AML (Anti Money Laundering) policies to restrict money laundering and keep all transactions legitimate. This promotes the trustworthiness of the operator among the players.
- The most important feature any operator needs to induce is responsible gambling measures. They must set betting limits and encourage the punters to regulate their gaming.
What are the player benefits from CEZA-licensed betting sites?
Now that you know what a CEZA license means to operators, let's discuss how the players benefit from betting sites licensed by CEZA.
- High data privacy and security.
- Fair play chances to all the players.
- Quick and safe transactions.
- Active customer support to resolve disputes immediately.
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