Obtaining a permit to work in the amusement sphere is one of the most critical steps for entrepreneurs. Operators should carefully assess the complexity of the various markets. Each country may put forward particular requirements that iGaming firms should comply with.
Before applying for a working certificate, operators should ask such questions:
BetConstruct, the wagering solutions provider, spoke on the matter. The aggregator addressed the requirements that must be met to enter the significant iGaming market. Also, the studio’s experts spoke about the nuances of opening an entertainment venture.
To operate in a specific country, a new business should obtain its approval. The certificate permits starting the wagering activity in the chosen territory.
BetConstruct identifies 5 leading regulators whose licences are considered the most important:
Obtaining approval from one of these agencies is rather difficult because the firm must comply with some requirements:
Only the most secure companies can obtain such a document. It is usually provided by the licensing body of the zone where the gaming start-up wants to begin a practice. Each jurisdiction has different requirements. Operators with authorisation in the US may not obtain one to run their business in the UK. The standards for obtaining a licence are set by local law.
Project legalisation may become even more complicated due to various document types. They may change depending on such factors:
Here, the wagering sector is supervised by the UKGC. Therefore, operators must apply for a licence from this body to work in the state.
The Commission will then initiate a check to ascertain the transparency and safety of the applicant’s activity. Once the reviews have been completed, the body can either provide the certificate to the operator or deny it.
It takes approximately 4−5 months to receive the approval to work in the UK market. The certificate is valid for 3 years and includes the extension option.
In other control bodies, the conditions may vary. Similarly, the tax rates also change. In the case of the UKGC, operators have to pay an income fee of 15%.
It is worth remembering the changes to which the various laws are subject. The English one is still in a revision phase, as it has not transformed since 2005. Rules do not vary yearly, but sometimes regulations are updated according to technological advances.
One of the most challenging licences to obtain is from the MGA. Platforms with this permit are usually considered among the safest.
The professionals at BetConstruct explained that the Maltese wagering industry is complex. It is regulated by numerous laws and guidelines that make it challenging for operators. However, it includes several significant advantages. For instance, applicants do not have to pay high taxes, and the local market is one of the safest for punters and businesses.
There are 2 types of licences in the Maltese wagering sector: B2C and B2B. The first one is the approval of gambling services offered to punters. The second certificate is the authorisation of gaming products supplies to other businesses.
These 2 types are further divided into 4 others:
The tax charged by the Maltese authorities is rather low (5%) and is levied on profits earned from punters resident in Malta. A 35% fee is imposed on studios operating remotely.
BetConstruct’s specialists commented on the possibility of enlisting the help of a B2B firm to enter a new market.
For the business to be lawful, you must carry out all processes in a legitimate way, with a permit. Obtaining a certificate to work is a multi-stage task. It is a procedure that can become costly and complex, especially for young studios. For this reason, a new corporation should consider turning to a B2B provider or aggregator to receive the certificate.
The assisting company can help a wagering start-up obtain the necessary documents and open the firm. BetConstruct’s experts, for instance, can provide customers with sublicences to operate in different markets. The company's White Label offer includes solutions with authorisations from Malta, the UK, Curacao, France, etc.
Contact Casino Market to order software from top developers and get assistance with the licensing of your iGaming platform.
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