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:
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.
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.
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