Entrepreneurs who want to launch a gaming platform inevitably face the need to obtain a licence, as without this document, it is impossible to provide services or purchase goods. Just like other businesses, entertainment brands need to be certified to receive a legal status.
Casino Market’s experts will discuss the key points to consider when implementing a gambling project.
About the Certification Process
Entertainment business licensing is a complex, difficult, and time-consuming procedure. Many jurisdictions around the world issue such permits, and their capabilities, status, and rules vary, though some are very similar.
Today, enterprises most often obtain these documents in offshore destinations because the authorities of these countries are lenient toward the gaming niche, and their tax regulations do not require significant deductions to the budget. Most importantly, it is completely legal to place bets in these regions.
When choosing a casino licence, it is essential to thoroughly study the laws of all states, as the certification process is very expensive.
Those who want to open an online casino should remember that, first, they need to decide on a geolocation — the market they intend to work in. This will determine the choice of jurisdiction, as each state allows business owners to provide services in a specific territory.
Although the validity of an iGaming licence is international, it is not recognised in countries where gambling is prohibited.
Features of Online Casino Certificates
There are different types of such documents, and every operator should be aware of this. For example, a Costa Rican permit is more of an authorisation to communicate with clients. It will not allow entrepreneurs to collaborate with global software developers and payment system providers since it is not so reputable.
The country’s licence only makes it legal for project owners to work there. Confidence in such a certificate is weak, as the requirements of this jurisdiction are relatively low.
The paramount concept of a casino permit is player safety, and the introduction of some restrictions for operators to ensure protection against fraud. Consequently, a Costa Rican certificate is not very trustworthy.
On the contrary, licenses issued in England, Gibraltar, or Curacao allow entrepreneurs to work with all game suppliers and payment system providers, as these jurisdictions are influential and loyal.
A Maltese licence is very expensive for operators and imposes significant restrictions. The document does not grant the right to work anywhere. For example, to provide services in England, business owners will need to obtain a UK permit.
Brands planning to expand should choose a region and a casino certificate to apply for. This is very important because it is expensive, and before purchasing one, entrepreneurs must carefully weigh the pros and cons.
Thus, we can conclude that, in most cases, a licence issued by a jurisdiction only allows project developers to work within its territory, as each country has different legislative norms.
Online Casino Permit in Europe
By obtaining a certificate in offshore zones within the EU, companies get several advantages:
- assignment of the local tax identification number;
- legal status and the right to undertake legitimate activities;
- no need to pay huge fees;
- worldwide recognition;
- the gambling licence examination takes place in a short time;
- frequent exemptions from financial statements;
- ability to open accounts with European and global banks.
Regardless of the country in which operators obtain a casino licence, a package of documents must be prepared for the regulator. Although each authority has its own rules and conditions, here is an indicative list of papers that are typically required.
To deliver gaming services, entrepreneurs should provide:
- An application addressed to the head of the commission requesting a certificate.
- Copies of the company's evidence of registration and charter.
- Documents confirming that the brand actually has an office (copies of rental receipts or utility bills).
- Scans of the minutes of the constituent assembly with the decision made on the appointment of managers.
- Copies of all employees' passport pages.
- Bank statements confirming account registration, the availability of funds, and financial transactions (signed by the financial institution’s management and notary).
- A detailed business plan with investment calculation and projected revenues for the next 3 years.
It is worth noting that the application listed in the first paragraph must be submitted as soon as possible, and all other papers need to be presented only after the commission's approval and payment of the licence fee.
It is also important to remember the supplementary requirements of each jurisdiction. For example, project owners are sometimes asked to provide fingerprints.
The Gibraltar regulator wants to see proof of the applicant's business success and a clean criminal record, without administrative fines or other penalties. The committee often requires that the founders be residents of the country where they want to obtain a certificate.
As you can see, the licensing process is quite difficult. Furthermore, the authorities pay attention to the client's solvency and reputation, which must be impeccable.
Bitcoin Casino Permit
In addition to standard documents, commissions also issue licenses for Bitcoin casino platforms that process payments in cryptocurrency. This certificate allows operators to work in any country. This is because the digital asset is not owned by any state and is subject to no restrictions or regulations.
However, when dealing with virtual money, it is still worth consulting with lawyers about the government's attitude toward it: some jurisdictions may have laws prohibiting BTC.
The Main Things About the Choice of a Gambling Licence
Permit availability is key to the successful operation of an entertainment business.
The document can be purchased at the Casino Market studio. Our specialists have vast experience in the gambling industry. We will help you choose a jurisdiction and quickly collect the necessary documents, which will then be submitted to the commission.
We also offer the following useful solutions:
- high-quality software;
- turnkey platform;
- popular content;
- promotional tools, and much more.
For all questions, please contact our managers.
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