Romanian Financial Operations in the Gambling Field

For legal work in the Romanian market, the gambling company requires a licence, which is issued by the National Gaming Authority.

There are two categories of documents, namely:

1. A licence for operators who want to take direct activity in the entertainment industry.
2. A permit for companies that want to offer their services to the first category of operators.

In this article, the Casino Market team provides analytics and effective licensing conditions for organisations that want to operate with intermediary services, namely payment operators.

Monetary Operations: Key Rules for Legal Work

The outline of the activities of the organisation providing payment services should be mentioned.

A financial operator:

• is responsible for efficient management of actions with payment cards of clients;
• is an intermediary between the platform and the bank of the customer;
• allows the transmission of information.

Based on the regulations of the gambling sphere, instruments such as debit or credit cards are allowed to conduct payments, with clarification of the physical individual of the holder.

To work with the internet gambling representatives, the company providing services requires a specialised processor confirmed by O.N.J.N. Furthermore, game distributors in the country should have local bank accounts to obtain funds from customers.

Licence for Legal Activities

Based on the Methodological Norms, the conduction of monetary transactions for casinos, namely the reception of deposits and withdrawals, are carried out under the rules of the licence of the second category.

This permission states that any money transfers made by gambling companies can be achieved only after getting the permission of the Remote organiser. However, the Second Class Licence allows companies with remuneration schemes to make deposits or withdrawals for registered content of web casinos. At the same time, these services are not equal to gaming activities.

Permission Payment Terms

The core condition for getting and extending a document for offering services is the licence fee remuneration.

The 2nd class permit works for 10 years with the timely payment of fees:

• in the first year: until the 25th of the next month from the moment of confirmation of the authorisation;
• the following years: at least 10 days before the end of the annual period.

The operation of firms providing financial facilities for casinos differs significantly from the provision of services in the entertainment industry.

James Burton The Casino Market partner, the owner of the gambling establishments’ network

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