Things to Know Before Applying for An Online Casino License

The online casino business has become quite popular among businessmen due to its high profitability. Alternatively, launching an online casino business is not as easy as one might think.

Similar to land-based casinos, online casino operators are required to obtain an online gambling license to avoid running into problems with the international law. Having an online casino license also gives the casino operator credibility in the online gambling world.

Here’s a checklist of the information that you need if you are interested in operating an online casino:

Lawyer Assistance

When dealing with the law, your best and easiest option would be to hire the services of a lawyer that focuses on online gaming license acquisition. Since he knows all the legalities that come with the application process, he would be in the best position to guide you.

Know the Law

Equip yourself with the gambling jurisdiction, licensing requirements, costs, taxes, and the processing time for online casino license application.

Be aware that there are international and internal types of licenses. The international license is required if your company is located in an offshore location. The internal license is more country-specific and would be applicable to the country where your online casino will be based.

Prepare All Documents for Submission

Make sure that all the required documents are on-hand and can be submitted anytime you are required. Check with the gambling commission for the list of requirements.

These may include a certificate of no criminal records, a reference letter from the bank, and copies of your passport.

Some gambling commissions require additional documents such as a detailed list of your properties and assets.

Find A Reputable Online Gambling Provider

A reputable online gambling provider can help its clients in getting licensed and registered for online operations.

They can provide the necessary manpower and expertise to obtain the proper documentation as required by the gambling commission.

Just like any business venture, it helps to be prepared. Don’t just join the bandwagon without taking the necessary precautions.

Taking the time to understand the current gambling jurisdictions for your base of operations would be a great start, don’t you think so?…

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Top Two Online Gambling Jurisdictions for 2018

Try searching in the Internet for online gambling sites and you’ll be surprised at the number of search results. This is due to the fact that a number of casino business owners have realized that online gambling is as lucrative and profitable as a land-based casino.

With this in mind, some countries have created their own online gambling jurisdictions that can issue a legal license and also have the power to regulate the companies that offer online gambling services.

To be able to legally offer online services to their patrons, the companies seeking an online gambling license is required to send a particular percentage of their operations and workforce in the area of the jurisdiction where the license will be procured.

Here are the top two online gambling jurisdictions for 2018:

Costa Rica

The Costa Rica jurisdiction for online gambling was founded in 1999. A number of prospective online gambling operators and licensees often choose Costa Rica for its lenient laws that governs online gambling.

Aside from not being systematic and well implemented, the online gambling laws in Costa Rica are only applicable to its residents.

The basic requirement for a new online gambling company in Costa Rica is to pay $5,000 for a general-purpose license. At the end of the year, renewal for the online gambling license is $5,000 plus $500 for legal fees.

The Costa Rican government does not require these companies to pay taxes since their income is identified as originating from outside the country. This leniency is why about 300 online gambling companies are now located in Costa Rica.

Alderney

The Alderney jurisdiction for online gambling was founded in 2000. The Alderney Gambling Control Commission adheres to the highest international standards with a primary focus on fair licensing by providing total operations transparency.

The commission provides two main license types. The first license is for business to consumer operations. This is issued to licensees that provide direct service to the final consumer such as online gambling sites.

The second license is for business to business operations. This is issued to licensees that provide service to other businesses. Internet service provides are covered under the second type of license.

The licensing fee for the Alderney jurisdiction is £10,000.

Are you interested to learn more? Send me an email and I’ll be happy to provide you with more in-depth information.…

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4 Countries with Strict Anti-Gambling Policies

Despite the prevalence of gambling, there are countries who have created laws against gambling in any way, shape or form. This includes access to online gambling sites.

If you are traveling to a foreign destination take note that the countries listed here have declared gambling as an illegal activity unless stated otherwise.

Lebanon

Lebanese law clearly states that gambling in any form is considered illegal. Online gambling sites have also been blocked by the Lebanese government.

One exception to this law would be the Casino du Liban located in Jounieh. This is the only designated online and land-based gambling facility. Any gambling done outside this establishment is subject to penalties.

Cyprus

Gambling in Cyprus is governed by the 2012 Betting Law that permits terminal-based gaming such as slot machines up to a maximum of 50 machines. However, under the 2015 Casino Law, table games for land-based establishments are permitted only at the Melco Cyprus Resort.

Take note that the Melco Cyprus Resort is still under construction and is expected to open its doors by 2019.

Singapore

Singapore has several laws on gambling that are quite strict. They have the Private Lotteries Act that bans private lotteries unless permission to hold the event  has been granted.

The Common Gaming Houses Act prohibits all public gambling forms including Bingo, lotteries, and machine-based and terminal-based games unless a special permission has been granted.

Only three main Singapore gambling operators have been granted exception for land-based sports betting under the Betting Act. All others are considered illegal.

United Arab Emirates

Gambling, including online gambling, is strictly prohibited in this Muslim country. Under the UAE Penal Code Article 414, persons caught playing can find themselves in jail for up to 2 years. Access to online gambling sites have been blocked by the government as well.…

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