Experts of the Casino Market company will describe changes in key operating markets, explain where it is better to obtain a licence in 2024 and tell you how much it will cost.
Curacao
This is the oldest gambling jurisdiction that has been issuing certificates since 1996. The Caribbean island was one of the first in the world to legalise the circulation of cryptocurrencies and grant a permit for launching a Bitcoin casino.
The benefits of the regulator’s document include:
- the right to legally work in the .com domain zone and attract global Internet traffic;
- low tax rates;
- impeccable international reputation.
2024 is a year of transformation for the local gambling market. Back in 2022, the government announced large-scale changes in the industry.
The main goals of innovation are:
- streamlining the regulatory framework;
- implementation of measures aimed at combating money laundering and terrorism financing;
- strengthening the protection of users against fraud.
Javier Silvania, Minister of Finance of Curacao, noted:
The new certification procedure implies stricter requirements regarding financial stability, data security, and anti-money laundering procedures. These changes are being made to increase transparency and the level of trust in the local gambling niche.
What Awaits Curacao Licencees
The issuance of permits will now be handled by the Curacao Gaming Authority (CGA), controlled by the government.
Let us consider the key changes in the market:
- Introduction of new types of certificates. These are B2C (it allows operators to accept bets in casinos and bookmakers’ offices) and B2B types (it is necessary for the production of software: slots, payment aggregators, and management systems). A transition period is provided for holders of general (master) documents. Within 1.5 years, they must pass all the necessary checks and receive a B2C or B2B permit. Besides, all sublicences previously issued by the jurisdiction will be terminated by CGA.
- Increase in state duties. From September 1, 2024, the annual fee will be €62,500.
- Changes in staff requirements. The companies are required to hire at least 3 local employees. All of them should occupy leadership positions. Among the key innovations, it is also worth highlighting the rule to open a physical office on the island.
- Streamlining blockchain payments. The government will completely legalise the use of cryptocurrency (as a means of payment and a tool for saving money). Moreover, entrepreneurs will be able to transfer winnings and taxes into digital assets.
- The tightening of requirements for applicants. The CGA will check the sources of funds of all key persons in the company. These are managers, co-founders, investors, and shareholders. All components of gambling platforms (content, payment systems, betting software, and administrative programs) must have certificates of conformity. It is possible to apply for it online on the official website: portal.gamingcontrolCuraçao.org.
Current State of Affairs
In February 2024, the CGA issued the first licence within the framework of the updated legislation. A permit was received by White Star, which is part of the Rhino Entertainment Group. The application was considered 12 weeks from the date of receipt.
Currently, most providers who previously operated in Curacao are filing their documents according to the changed rules. Their current certificates expire on August 31, 2024. Before this time, they must obtain a new B2B or B2C document.
Isle Of Man
The jurisdiction is considered a British Crown dependency. The laws here are not as strict as in the United Kingdom, which attracts international entrepreneurs. A simplified procedure for registering a brand, low taxes, and an impeccable reputation have made the region a well-known offshore zone where investments from all over the world are flowing.
All types of entertainment for money are allowed on the island, including online and offline. The government began to grant issuing licences for digital casinos and bookmakers’ offices in 2001, after the adoption of the Online Gambling Regulation Act. Since then, the sector has been developing rapidly, bringing multimillion-dollar revenues to the state budget.
Business Certification Options
In 2024, operators can obtain the following types of permits:
- Full. This is a comprehensive licence that gives entrepreneurs the right to legally accept bets from players and interact with other operators under the White Label scheme.
- Sublicence. It can be obtained from the holder of the main document by signing a bilateral cooperation agreement with them. To work under such conditions, it is important to comply with existing legislation.
- Network. Such a permit allows business owners to manage a website with a .com domain address and legally attract Internet traffic from abroad. Gamblers can navigate from third-party platforms to the Isle of Man-approved portals without any problems and with no need to go through additional verification.
- B2B software services. This is a licence for manufacturers of games, control systems, sportsbook resources, security systems, and other products. As part of the document, companies can produce solutions for casinos that support blockchain transfers. Relevant amendments to the law were made back in 2019.
- Disaster Recovery. This is a temporary certificate, which is valid for 90 days. It is intended for licensees from other countries who have urgently stopped working in their home jurisdiction because of unforeseen circumstances. During 3 months, no state duty is charged.
Cost of a Permit
In April 2023, the regulator increased licence fees.
The price of filing an application is £5,250. The annual contribution for the holders of the Full type of document is £36,750. The Network option costs £52,500 and is issued for 5 years.
For each new White Label partnership, entrepreneurs will have to pay £5,250.
Kahnawake
The territory is an Indian reservation located in the province of Quebec, Canada. This is one of the first jurisdictions in the world to recognise the potential of the iGaming sector and introduce its comprehensive regulation.
The key advantage of working under the auspices of local authorities is unhindered access to other casino markets, except for the United States. Operators can legally drive online traffic from Latin America, Asia, and Europe if their actions do not contradict the laws in the selected regions.
The minimal fiscal burden is another benefit of Kahnawake. The tax on gross gaming revenue (GGR) is 0%. Business owners do not pay levies on dividends and withdrawn capital, which makes the jurisdiction one of the most attractive in the world.
Types of Licences
Most often, entrepreneurs choose the following options:
- Client Provider Authorisations (CPA). The permit gives the right to legally accept customers through automated servers and data centres located in the reservation. This is the most popular type of licence, under which operators launch gaming sites, bookmakers’ offices, and poker rooms.
- Casino Software Provider Authorisations (CSPA). This is a certificate issued by the provider of program components. The document does not allow companies to offer gambling entertainment directly to users. It is only possible to produce slots, table games, control systems, payment and security software, as well as other elements.
- Live Dealer Studio Authorisations (LDSA). The permit is granted to the developers of live dealer solutions. They can open special studios in the reservation and supply content to operators.
How to Obtain a Licence in 2024
One of the main conditions of the regulator is that all candidates undergo a comprehensive professional suitability test and receive Key Person Permits. This is a personal certificate of managers, which confirms their high competence.
The application fee is $40,000. The cost of the annual renewal of all types of permits is $20,000, and their validity period is 5 years.
Georgia
The market is considered one of the most promising in Eastern Europe. All types of entertainment for money are allowed here, and the government strongly supports the casino niche. It is developing along with tourism, bringing stable revenues to the budget.
The jurisdiction benefits from its favourable geographical location. In many neighbouring countries, gambling is either completely prohibited (for example, in Turkey) or limited to special zones (like Azerbaijan). Therefore, many players plan their tourist routes through Georgia. Here, they can not only relax on the Black Sea coast or in the mountains but also have fun and win good prizes.
Reorganisation of the iGaming Sector
In 2024, a law that allows the operation of digital casinos will come into force. Previously, entrepreneurs had to first obtain a licence for a land-based location with slot machines and card tables, but in the new version of the bill, this requirement was eliminated.
Thanks to the changes, it is going to be much easier to implement a profitable gambling project in Georgia and more profitable from an economic perspective. Business owners can launch an online casino, a website that sells lottery tickets, or a virtual betting shop.
The cost of the licence is from $94,700 to $113,000.
The government plans to raise the income tax rate from 10% to 15%. According to the authorities, this will increase budget revenues. The money will be transferred to the construction of social facilities (schools, kindergartens, and medical institutions).
Course For Responsible Gambling
Irakli Garibashvili, Prime Minister of Georgia, said:
We are creating a special database for those who will be prohibited from visiting online casinos. These are socially vulnerable people, government employees, as well as persons who were blacklisted at the request of family members or based on a court decision.
From July 1, 2024, new amendments to the Code of Administrative Offences will come into force:
- Raising the age limit. Only players over 25 years old will be able to place bets on digital platforms. As for foreign citizens, access to iGaming portals is open only to users over 18 years.
- Advertising restrictions. The only legal form of promotion is sponsorship of teams, athletes, or leagues. Any other marketing activities (online or on radio/television) are completely prohibited.
- Increase in fines. Provision of gambling services offline or on the Internet for minors will result in the imposition of a penalty ($5,650). Repeated violations of the rules will cost $11,300.
- Connection to a unified monitoring system. The government program will collect and process data on gross gaming revenue (GGR) and enforce RTP standards.
The Main Things about the Acquisition of Casino Licence in 2024
Such a permit is a document that gives operators the right to legally accept bets from clients, interact with other brands, and conclude sponsorship agreements.
The best jurisdictions for launching iGaming platforms are the following ones:
- Curacao is one of the most popular regions and is on the verge of major changes. The local government has completely reorganised the sector and introduced 2 types of permits: B2C and B2B. The regulator also streamlined cryptocurrency payments and tightened requirements for companies in terms of financial stability and the fight against money laundering.
- The Isle of Man issues several types of certificates for owners of gambling platforms and lottery portals, as well as software vendors and temporarily evacuated companies. Entrepreneurs can also obtain a network permit. It allows them to legally accept Internet traffic from abroad.
- Kahnawake attracts operators with low taxes, a well-developed community, and a modern IT infrastructure. Licences are available to those who want to launch live casinos and websites with slot machines.
- Large-scale changes await the Georgian entertainment market. The local authorities allowed the work of digital establishments without the need to own land-based locations, raised the age limit, and increased taxes and fines for non-compliance with laws. The last measure is aimed at protecting the interests of customers.
The Casino Market studio is your reliable and time-tested partner in the iGaming industry. From us, it is possible to buy a turnkey platform, a White Label project, a multitasking script, and other profitable solutions.
We also offer the following useful services:
- development of HTML5 slots based on individual sketches;
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