Online Gambling license

If you want to start online gambling activity, first, you ought to do a good research. Many of our clients don’t even know if they need a special license for the business they want to start. Follow this article and we will try to answer the most frequently asked questions that our clients have when they want to apply for online gambling license.  

Gambling activities, online casinos, betting and etc. have always been closely related to fraud and money laundering. Therefore, in order to legalize the sector of gaming, the governments of many countries have started to introduce changes in legislation, create new laws and oblige the owners of online gaming pages to obtain online gambling licenses. In a long term these changes are very advantageous for all members of the sector. The beneficial owner of the company carries out his activity legally and avoids problems with the law. The tax agencies charge corresponding taxes and the final users obtain security and guarantee that the gaming page complies with all regulations that prevent fraud.

Which country to choose for online gambling license? 

All the countries that issue online gambling licenses can be divided into two groups. In the first group there are the countries that specialize in gambling and have developed specific laws and regulations for the expansion of this activity. Some of the countries that fall into the first category are: United Kingdom, Malta, Canada, Austria and Spain. However, there are several disadvantages that these jurisdictions represent for online gambling business:

• High company formation fees 
• Obligatory software and accounting audit
• High social capital that has to be paid out along the process of obtaining the license 
• High local taxes 

On other hand there are countries that don’t have definite regulations and laws linked to online gambling therefore they authorize the activity, issue the license but forbid gaming on its territory. In other words, if you obtain an online gambling license in Costa Rica you can operate all over the world, Europe and United States are included, but you cannot have players from the country where your company has been registered. Therefore, you have to register an offshore non-resident company first in order to obtain the license and carry out legal activity. Some of the countries that fall into this second category are: Costa Rica, Curacao and Liberia.    

Online gambling license: Advantages  

• Online gabling license allows you to operate all over the world without any limitations. 
• In some jurisdictions offshore non-resident companies are not subject to tax.  
• Obtaining a license in Malta, for example, increases the level of the company adding prestige and security to its image. 
• Possibility to open bank account in the name of the company to collect the benefits from the income. 
• If you apply for a gambling license in Costa Rica, annual presentation of accounts is not obligatory. 

Who can verify if my website has an online gambling license? 

Online gambling license can be requested and verified mainly by the players who seek guarantee and security before providing their bank account or credit card details. In case you decide to contract a payment gateway then the license will be verified by payment processing provider. An of course, once you obtain the gambling license and apply for a corporate bank account, the financial entity will check all the documents of the company, including the validity of the license.

Therefore, we highly recommend you to play a fair game and legalize your business by applying for an online gambling license. Once you have it, make sure that the license number is visible on your page and can be verified by anyone interested.