If you are thinking about launching a gambling company, now is the time to convert your dreams into reality. Learn how to get your gambling license…
The online gambling industry is absorbing technological innovations and gaining momentum. Many industries have been challenged by covid-19 – the biggest health and economic crisis in recent history. However, the gambling sector keeps growing apace and expands its worldwide operations. Most growth is in online betting and gaming.
Why do You Need to Obtain Your Gambling License?
It is common knowledge that any business activities in the field of online gambling (sports betting, casinos, gaming etc) require a gambling license. This document is simply a permit enabling a company to operate and render online gaming services legally. If it is issued in a tax-free offshore jurisdiction, the licensee may enjoy all the relevant benefits.
A licensed company can open an account with a bank or obtain a merchant account. To make a well-informed choice of the financial institution, you can ask our professional advice. You are welcome to take advantage of our experts’ free consultations on how to select a foreign bank. You can rely on our specialized consulting services and professional support in the registration of your gambling license, formation, and operation of your gambling business.
What are the rewards of having a valid license?
It’s an opportunity to cooperate with the best suppliers of gambling equipment;
It provides access to the best games and other software products for your platform;
It instills more confidence and trust on part of customers and business partners.
Many countries maintain an optimal balance between the protection of relevant stakeholders and the development of the gambling sector. Such businesses are subject to strict regulation. Scrutiny is important to rule out the possibility of money laundering, fraud, and other illegal actions.
How to Choose the Right Country to Obtain Your Gambling License?
When choosing the best country to launch a gambling business and obtain an appropriate license, you should compare jurisdictions by several key parameters.
Political and economic stability. It makes no sense to start a gambling business in a jurisdiction that is on the brink of war or economic collapse. An unstable political environment may prompt detrimental changes in the legislation affecting the gambling sector. You should choose a country that is politically, economically, and socially stable. In this case, you will minimize the risks associated with the business you are investing your money and energy into.
Availability of double taxation agreements. To pay taxes on the same income in different jurisdictions is not optimal!
Confidentiality. Different jurisdictions offering gambling licenses have different requirements for levels of confidentiality, exchange of information, and disclosure of the identity of the ultimate beneficial owners. It is worth choosing a jurisdiction that will meet your expectations.
Requirements for companies. Not all countries offering a gambling license make sense for the registration of a gambling company. To make the right choice, please be sure to compare the requirements for the authorized capital, reporting, terms of incorporation, tax benefits, audit, etc. across jurisdictions.
The cost of a Gambling license. This license and the associated legal costs will be one of your biggest up-front expenses. It is however what makes all your advertising and software development expenses worthwhile!
To successfully start a gambling firm and avoid miscalculations, we recommend that you consult our experts. They will help you select the best jurisdiction where you can get your gambling license.
Where are the Most Beneficial Places for Obtaining Gambling Licenses?
|Jurisdiction||Advantages||Requirements||Period for issuing the license||Approximate costs|
|low tax rates on profits; |
2) no additional tax on gambling;
3) prestige of the jurisdiction (part of the Bailiwick of Guernsey)
zero taxationfastest licensing processless prestigious jurisdictiongood access to GCC and Chinese marketscan license multiple casinos and sportsbooks under one company
|1) to pass software testing; |
2) a legal entity registered in locally;
3) to submit information about software suppliers;
4) to provide a detailed business plan with a description of the games.
Compliance and annual auditdetailed business plan
|4 to 6 months|
|From EUR 60,000 |
From EUR 20,000
|Costa Rica||1) a quick and inexpensive start-up, however the license only covers data processing in theory so it is not a proper gambling license;|
2) worldwide income generated outside the jurisdiction is not taxed;
3) no requirements for the location of servers;
4) no annual fees for the gambling license;
5) no need to test gaming software;
6) no direct bans on gambling activities.
|1) registration of the company in Costa Rica;|
2) a registered agent;
3) at least two shareholders;
4) is a “Data processing” license
|from one month||From USD 30,000|
|Curaçao||1) part of a European country: the Netherlands;|
2) covers all types of relevant services;
3) allows legal contracts with banks, payment systems, software vendors;
4) enhanced level of confidence for customers and business partners;
5) gambling business-friendly taxation
|1) high-quality financial accounting; |
2) fair rules;
3) detailed information about the company and its activities;
4) the company is registered in the e-Zone
|From 3 months||From USD 40,000|
|Gibraltar||1) the first GBP 100,000 of profit is tax-free;|
2) the gambling duty rate is 0,15%;
3) the possibility of opening a merchant account;
4) experience in the digital gaming industry since 1998;
5) the prestige and well-respected regulatory environment of the jurisdiction
6) easy access to UK market
|1) the gambling company’s annual audit;|
2) to submit a detailed business plan;
3) sufficient funds to finance all current operations and liabilities;
4) to collect and maintain comprehensive customers’ data, to conduct verification of customers;
5) to guarantee the validity of the information and advertising publicized by the company.
|From 6 months||From EUR 70,000|
|Malta||1) favorable tax incentives; |
2) favorable conditions for obtaining gambling licenses;
3) extensive network of double taxation DTAs
4) the license covers all types of gambling;
5) access to high-quality banking services.
|1) compliance with all rules and regulations established by the authorities;|
2) a company registered in Malta;
3) a detailed business plan;
4) to submit corporate documents in English;
5) to submit all technical documentation.
|Up to 6 months||From EUR 50,000|
|The Isle of Man||1) 0% rate of the corporate income tax; |
2) high protection of gamblers’ prizes;
3) political stability and prestige of the country;
4) sublicenses can be used;
5) gambling duty rates are low: 0.1-1.5%;
6) reliable means of backup and disaster recovery
|1) the company is registered in the Isle of Man; |
2) two local directors on staff;
3) registration servers in the Isle of Man;
4) a corporate account with a local bank;
5) to submit a detailed business plan with conditions and rules of games, plus a business operations model
|from 2 months||From EUR 35,000|
What are the Requirements of Licensing Bodies?
Licensing commissions in all jurisdictions impose strict requirements for the competence and professionalism of personnel and managers. It is very important to submit the documented proof of their necessary experience. There are also other requirements:
to submit a detailed description of each game, specify its system functions and specifications;
to publish on the web site the payout terms for prize or winnings, and the page must prominently feature the “responsible gaming” principles;
to prove that the owners and other important persons in the company are of good repute;
to submit a detailed description of the gambling business, audit results, and accounting documents.
The reputation of the business owner needs to be impeccable, and the sources of income to finance the gambling business – most transparent. The requirements set for the applicants for a gambling license are strict. This is because jurisdictions value their reputation.
What Needs to Be Done to Obtain a Gambling License?
Application for a gambling license may seem a rather complicated and expensive process. After all, it involves the registration of a company in the chosen jurisdiction, compilation, notarization, and submission of a package of documents, and design of the gambling web site according to the requirements of the licensing commissions. You will also have to pass the compliance procedure, open a bank account, integrate with multiple payment systems to receive payments. To make it all easier for you, we offer a package service. Here is what our experts will do for you:
choose for your business the most beneficial gambling license type;
prepare and check all corporate documents required for granting you a gambling license;
assist you with preparation of documents such as AML policies, responsible gaming etc and supply a suitably qualified compliance officer for your business if needed ;
help you obtain the official license in the least possible time.
The experts will also consult you on gambling business operations. You are welcome to contact us at the e-address given at the top of this page for details of our services.
Can a gambling company operate without a license?
In most jurisdictions, gambling is regulated. This means you do need to be authorized formally and have a written permit to develop your gambling business. Otherwise, the company will be fined and can be even subject to criminal prosecution. Without a gambling license, your company will not be able to open a bank account, interact with payment systems, or use reputable software.
Is it difficult to get a gambling license?
The licensing process for companies wishing to engage in the gambling business cannot be called simple. The applicant needs to meet several requirements of the licensing commission, have sufficient funds to adequately finance the project, test the software, etc. Sometimes it may take up to six months to obtain the license. However, the advantages of conducting licensed activities legally always outweigh the inconveniences of application. Besides, you are welcome to use our expert services and professional advice.
How can I apply for a gambling license?
If you have decided to apply for a gambling license, please contact our experts for detailed advice by writing to the e-address given at the top of this page. You will be offered help with choosing the right jurisdiction, completing and filing the documents, and other procedures.