A betting license is the most important license for online bookmakers because it determines the credibility and safety of a bookmaker. First Cagayan Leisure & Resort (CEZA) is the legal betting operator for the W88 bookie. First Cagayan Leisure & Resort (CEZA) was established in 2003 and is the organization that licenses more than 114 bookies around the world. The bookies that own the license of this organization are all tested and confirmed to be the leading reputable bookmakers today, including W88.
What is the First Cagayan ?
First Cagayan organizes the licensing of legal betting activities for online bookmakers on the market today. It is an organization managed by the Cagayan Economic Zone Authority (CEZA), under the Philippine government.
About First Cagayan Resort & Leisure Corporation
Cagayan Economic Zone Authority (CEZA) has established First Cagayan Resort & Leisure Corporation (FCRLC) for the purpose of licensing and operating all betting activities in Cagayan and Freeport. For operating licenses and expanding the scope of activities to large markets, First Cagayan Resort & Leisure Corporation (FCRLC) will be fully responsible and at the same time:
- Establish network operations centers.
- Manage and monitor activities in the name of CEZA
- Operating and managing betting activities
- Maintain the base network system.
Responsibilities Of First Cagayan Resort & Leisure Corporation
FCRLC is responsible for licensed units and bookmakers, at the same time, pays fees to the CEZA organization.
The specific main responsibilities are as follows:
- Monitoring and operating payment activities
- Guarantee and commitment that the bookie does not break the law
- Be sure to own full transaction records
- Check and ensure products and software work at the bookie according to regulations
- Implement CEZA regulations and rules
- Fee for CEZA
In addition, FCRLC is also responsible for betting products, sports, video games,…
FCRLC’s Revenue
FCRLC’s revenue comes from operating licenses for bookmakers in the market and many other services such as: Internet infrastructure monitoring and maintenance services; Call center services, facility management, server management, network monitoring; Value-added services such as web monitoring and analysis.
The organization uses the revenue from these services to reinvest in telecommunications services and build infrastructure to attract tourists.
License Conditions
To be able to request a license from First Cagayan Leisure & Resort, the bookie needs to follow these steps:
Step 1: Register at CEZA
Step 2: Submit application and provide necessary information, documents
Step 3: Wait for the letter of acceptance from FCRLC and pay the annual fee of $200.000.
Note:
- To receive a legal license, the bookie must apply, wait for confirmation and pay the fee. This process takes 30 days to complete.
- The bookie must pay an annual maintenance fee to extend the license period.
- The cost to be licensed is about $450,000, the bookie must pay $200,000 in advance before receiving the license.
- The monthly maintenance fee is $10,000.
Conclusion
Above is information about the organization that issues a legal operating license for the W88 bookie – First Cagayan Leisure & Resort (CEZA). This license is a measure of the bookie’s reputation and safety, therefore players can completely participate in W88 bets without worrying about anything. Visit W88 to find out more exciting games today!
