- legal operation
- gaining customer trust
- establishing partnerships
- reputation
- regulatory requirements
- process complexity
- costs
- taxation
Malta
Isle of Man
Antigua and Barbuda
Montenegro
Curacao
- enhances credibility
- facilitates partnerships
- ensures legal compliance
- improves market access
Experts of the Casino Market studio will name the best regions for launching an iGaming project and tell you which one to choose and what amount of money will be needed at the start.
Why It Is Important to Have a Licence
This is the main document that makes it possible to legally manage a gambling resource.
The permit determines the key rules for working on the market and the responsibilities of all its participants, such as entrepreneurs, users, and the state represented by the gambling commission.
The main advantages of obtaining a certificate:
- Confidence of customers. The days when people could deposit their money on dubious sites are long gone. Now, clients are carefully studying all the data provided by operators, including the availability of a licence. Entrepreneurs are unlikely to be able to attract a wide audience and make a good profit without such a document.
- Mutual beneficial partnership. iGaming projects cannot function alone. For full-fledged work, they need high-quality hosting, stable payment processing, security programs, and other useful tools. Software vendors prefer to collaborate only with certified casinos. It is impossible for business owners to conclude an agreement with any financial service if they do not have a relevant permit.
- Legal operation. The absence of the document is the main reason for having trouble with the law. Entrepreneurs may lose their property and be obliged to pay huge fines. The availability of a certificate, on the contrary, helps them work legally and successfully in the selected country. Before issuing it, the regulator checks the applicant’s financial situation and approves their business plan.
- Image improvement. Those who have a licence can easily enter the international casino market. Operators can attend prestigious conferences, receive grants and external financing, participate in joint investment projects and become part of the developed iGaming community.
How to Correctly Select a Country to Work
It is worth taking into account such factors as:
- reputation of the region;
- requirements for entrepreneurs;
- complexity and duration of the application processing;
- the certificate’s cost;
- taxation features.
The choice of the country is also affected by the previous business experience. If the company has previously successfully worked in one jurisdiction, then it can apply for a licence with favourable financing conditions. For example, this practice exists in Alderney.
There are also many regions where it is easier and faster to launch a startup from scratch. They are distinguished by the established rules, tax benefits, and other exemptions.
Where to Launch an iGaming Project in 2024
Let us consider countries where it is beneficial to work and scale your business.
Malta
This is one of the most prestigious options. The territory is characterised by a wonderful economic environment and provides good opportunities for both beginning and skilled entrepreneurs.
A huge number of firms associated with the casino and sports wagering niche are registered in Malta:
- game manufacturers;
- financial aggregators;
- security software vendors;
- hosting providers;
- bookmakers;
- owners of entertainment platforms;
- consulting companies, etc.
Together, they generate 13% of the country's GDP. Therefore, it is quite logical that local authorities are interested in the further growth of the sector.
Why it is a good decision to work in Malta:
- Active support from the government. In 2018, it implemented a tax reform. Thus, to avoid double tariffs, a levy on entertainment for money was cancelled. Another innovation is the waiver of the contribution of compliance with the rules. Casinos that operate for less than 5 years can apply for this. As for the GGR, over the past 12 months, it is less than €10 million.
- Well-developed IT infrastructure. The island has many advanced data centres and IT hubs, and it is covered with a super-speed 5G network.
- A friendly community. Malta is the birthplace of the largest gambling exhibition, SiGMA. The event is famous for its large scale, the level of invited speakers, and prestigious awards, which are annually given to the best casinos.
- Strong labour market. The iGaming sector has more than 16,000 employees, which is 4.8% of all working people on the island. These are middle and senior managers, programmers, QA engineers, marketers, designers, web architects, etc. Top companies offer Full-Time and Part-Time jobs, provide tuition, and help with relocation.
The fee for filing a request is €5,000. Another €500 must be paid for obtaining the Key Function certificate. The annual fixed fee depends on the type of permit. Entrepreneurs may deduct from €10,000–€25,000 per year.
Before issuing a licence, the Maltese regulator analyses the operator’s business plan and checks the availability of authorised capital. Its minimum size must be €40,000.
Isle Of Man
The territory is in the possession of Great Britain, but it has a different legal framework.
This is the first jurisdiction that allowed and streamlined casino activities. The Online Gambling Regulation Act was published in 2001. It determined the basic principles of work in the industry, as well as the rights and obligations of operators and users.
Benefits of launching an iGaming startup on the Isle of Man:
- Clear certification structure. The government grants 4 types of permits (full, sub, software services, and network), and each of them covers all kinds of activities. Having a sublicence, for example, operators can manage a digital casino, accept bets on sports events, and organise bingo and lottery draws.
- Loyal fiscal burden. The gambling tax is 0.1–1.5% of GGR. There are no corporate royalties or capital gain fees on the island.
- Active support for entrepreneurs. It includes business grants, loans, portfolio investments, project development financing, and assistance in relocation. The government issues temporary permits (Disaster Recovery) for 90 days. They are intended for those entrepreneurs who have lost their enterprises in their home country due to natural cataclysms or an unstable political situation.
- Regulation of blockchain platforms. Since 2019, the local authorities have been issuing licences to this type of business. On the island, there are many registered crypto casinos that accept users from all over the world.
The cost of application filling is €1,161. Another €5,600 must be paid as a state fee. The company deducts from €39,000 to €58,080 per year, depending on the type of the purchased document.
Antigua and Barbuda
The region started granting permits in 1994. Over 30 years, it has managed to build a powerful IT infrastructure, attract multimillion-dollar investments, and create a positive economic environment.
The certificates are issued by the local regulator FSRC.
There are 2 types of licences available for entrepreneurs:
- Interactive Gaming (for virtual casinos, lotteries, video poker, slots, and other RNG-based products);
- Interactive Wagering (for sportsbook platforms).
Pluses of working in the region:
- No taxation. International firms that have an office in the country can take advantage of the benefits. However, brands with local registration are required to pay a corporate tax of 35%.
- Good reputation. Applicants (stakeholders and directors who hold at least 5% of the total number of shares) are required to undergo verification. The jurisdiction has introduced strict anti-corruption measures, as well as AML and FATF policies. Before launching an iGaming startup, entrepreneurs must make sure that they have at least €100,000 in the bank.
- Operation in the international legal field. Holders of the local permit can legally advertise online casinos and accept bets from players who live in the United Kingdom.
The application fee is €15,000. Every year, licensees must pay €100,000 as a state fee. The application processing takes 60 calendar days.
Montenegro
The European country has a stable economic environment and, as a result, attracts huge investments in the entertainment industry. The activity of offline establishments has been regulated since 2006, and the online niche since 2011.
All payments in the region that is an official candidate for EU membership are carried out in euros. These factors have a positive impact on the business climate. Working in Montenegro is pleasant and profitable.
Permits are issued by the local Ministry of Finance. In the near future, the government promises to reform the casino and sportsbook sector, making it even more attractive to foreign capital.
Advantages of working in the country include:
- Comfortable project launch. The jurisdiction provides a single service that includes company registration, merchant’s account, and licence. Thanks to this, it is possible to open an online casino in just 2–3 months.
- Access to all types of gambling. Wagering shops, bingo halls, and poker rooms, as well as offline and digital locations are all considered legal.
- Loyal taxes. Operators need to pay 10% of GGR. Fiscal rates here are among the lowest in the European Union.
The cost of obtaining a certificate is €25,000. Entrepreneurs must also annually transfer a state fee of €15,000 to the public treasury.
To obtain a permit, it is necessary to confirm the availability of an authorised capital of €300,000 and a bank guarantee for the payment of prize money in the amount of €90,000.
Curacao
The Caribbean island has created favourable conditions for the establishment of a casino. The region represented by the Curacao Gaming Control Board began to issue licences in 1996, gradually developing all types of gambling.
In 2022, the authorities announced changes to legislation in the field of regulation of raffles and entertainment for money.
The government now issues 2 types of documents:
- B2C for owners of virtual casinos, sportsbook platforms, poker rooms, and websites selling lottery terminals;
- B2B for providers of content, payment services, and management systems.
Why to start an iGaming business in Curacao:
- Minimum taxes. The cost of a permit, as well as the fiscal charges, remains one of the lowest in the world. Operators are exempt from corporate tax and levy on dividends and withdrawn capital. Project owners pay only 2% of their net profit for the reporting period.
- High reputation. Before receiving a certificate, applicants undergo a technical audit and an interview with the regulator’s representative. They are required to adhere to AML and FATF policies, work honestly and transparently, and implement responsible gambling mechanisms. Local servers should host backup copies of software and databases.
- Comfortable economic environment. Curacao is called the offshore centre of the business world. There are many brands registered here that provide consulting services, invest funds, recruit personnel, and conduct other activities.
The annual fee for permit holders is €62,500. They are required to pay €7,800 in the form of a startup fee and €983 for verification of each key person (manager, investor, and CEO).
The Main Things about Gambling Project Certification
Acquisition of a licence is the first step toward growth in this highly competitive industry.
- The document guarantees honest and transparent work within the legal framework, improves the casino’s image, and attracts new solvent traffic to it. Without such a permit, it would be impossible to conclude agreements with the providers of games, financial systems, hosting, and other useful services.
- The choice of country is affected by many factors. These are application processing time, existing rules, the political and economic situation in the region, the investment climate, the taxation system, etc.
- Malta, Isle of Man, Montenegro, Antigua and Barbuda, and Montenegro are some of the most attractive divisions in 2024. They can boast of a well-developed gambling community, modern legislation, tax allowances, grants, and other characteristics.
The Casino Market studio is your reliable partner in the gambling market. From us, it is possible to order a ready-made iGaming platform, a White Label project, a reliable script, and other solutions.
We also provide the following services:
- development of HTML5 slots based on individual sketches;
- installation of payment systems;
- integration of security software;
- casino marketing, and much more.
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