Does One Need a License to Start a Gambling Website? The Casino Market Expert Answers13 october 2019
While you can officially start your gambling business in 80 countries around the world, it is obligatory to receive a gambling license to register your enterprise on a legal basis. Of course, you can avoid paying taxes and hide from your local authorities while running, for example, an online casino without a license. However, you lose a vast list of possibilities that a legal business can offer you.
Do you know that only 10% of all online casinos are illegal nowadays? Isn't it the final reason to switch yor mind towards starting a legal gambling business. You may ask, «what do I actually get from it?» Well, you may even not suspect the advantages are so unique:
- You receive an ability to start a long-term cooperation with reputable banking institutions, open accounts in their affiliations, and secure transactions on beneficial terms. No trustworthy bank in the world will ever start working with you without a license.
- It will be possible to start integrating the most popular payment systems to your website. Also, you will receive an opportunity to work with any currencies since exchange services will no longer be a problem for you.
- You gambling license will allow you to buy software components from top-class manufacturers. Again, no self-respecting software provider will ever start cooperating with you unless you prove you are a licensed operator.
- Official registration will increase audience confidence. People will be able to see that you are a licensed casino owner, so their money and deposits are completely safe. Just think about it — the more visitors trust you, the more profit you eventually receive.
- With a credible gambling license, you also receive an expanded range of opportunities that will allow you to impose competition on other operators in the international market. This means you will be able to attract their clients with more loyalty programs and bonus systems.
- If you are eager to expand your business in the future, you will need reliable partners to work with. A license will grant you insurance about possible contracts with major well-known companies on the market. Big names will contribute to your promotion and as a result, attract more visitors to your gaming establishment.
- As soon as you obtain a license, you automatically receive the status of an international brand. People will be able to find your casino even if they don’t encounter your advertising. It gives you an additional source of clients and, as a result, an additional source of income.
Before deciding upon a country that will serve as a «home» to your gambling establishment, we recommend thinking about a few points. There are some critical issues you have to pay attention to while choosing the proper country not to regret your decision in the future:
- Analyze your target audience where you are going to conduct the most promotion. They must be familiar with the chosen jurisdiction and not wonder about the country where your gambling platform is located. For some, it may become a reason not to trust you and your establishment.
- The financial aspect is also of utmost importance. You don’t want to pay too much if your budget is limited. At the same time, you must be sure that the country provides you with all services not to meet the problem with the legality in the future.
- Also, we recommend resorting to the most popular jurisdictions since they offer the most acceptable conditions with reasonable prices. Usually, those are some offshore places, and their financial requirements are more than fine:
- Malta (cost of a license is $ 55K);
- Gibraltar (cost of a license is $ 33K, plus annual renewal is $ 2,2K);
- Costa Rica: (cost of a license is $ 15K, plus annual renewal is $ 6K);
- Isle of Man: (cost of a license is $ 1,2K, plus annual renewal is $ 24K).
Usually, you gather tons of documents and file an application personally in the chosen jurisdiction. The local authorities then spend specific time to review everything and issue you the desired license. At the same time, Casino Market can save you lots of time. With us you don't have to worry about anything. Feel free to contact us today, and good luck!
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