How to obtain casino/gambling license
The products that we sell might require a casino/gambling license depending on the jurisdiction in which you are located. Our company does not offer any casino/gambling licenses, but we have set up a very detailed guide to help you with this process.
Obtaining a casino/gambling license is one of the most important steps in entering the world of online casinos, in order to gain the credibility of your players and to avoid any problems with the international law.
The easiest way to do this would be to get in touch with a lawyer from your country, and he will guide you on how to obtain this.
An alternative to this would be to create an offshore company in countries like Malta, Cyprus, Costa Rica, Panama and obtain a gambling license there. The low prices available in these countries, have made them gain the reputation of "the heart of Casino Operations". Yearly license costs can go as low as 20 000 EUR.
Always have to remember that what matters the most is that you have to offer a guarantee of accountability, safety, legality and trust.
For more details in obtaining an offshore license, please visit this link : http://www.slogold.net/price_gamb.html and get in touch with the SloGold group.
What is a Gambling License?
A gambling license is a certificate of authority issued by a regulatory agency, typically referred to as a gambling control board. Gambling licenses are typically required by organizations that offer any type of games of chance or those that involve wagering, such as roulette, poker, slots, pari-mutuel racing and lotteries, among a few. The requirements for the issuance of a gambling license might vary from jurisdiction to jurisdiction.
Issuing Rules and Regulations
It is required by the gambling control board to create a set of rules and regulations to govern the way in which a corporation or other organization licensed in the jurisdiction can conduct business. The rules and regulations issued by the gambling control board affect the conduct of all individuals involved in the gambling enterprise, from employees, companies doing business with the gambling establishment and its owners and/or partners. The rules and regulations also cover a broad range of activity of the licensed organization including operations, accounting and audit, and the conduct of games offered within the establishment.
Requirements for Licensing
It is one of the primarily roles of a gambling control board to issue a license. The issuance of a license is based on those standards that are broadly described in the controlling act that grants authority to the gambling control board, which are further defined and explained by the rules and regulations promulgated by the gambling control board. Some of the requirements that may be imposed on organizations that desire to conduct a gambling business within a state or other jurisdiction include meeting certain standards of good character, honesty and integrity, disclosing detailed financial and organizational information about the gambling establishment, its owners, partners and other associated persons and providing employment and criminal information on certain individuals within the organization. The requirements and standards that have to be met to obtain a license to conduct a gambling business are comparable to those standards that financial institutions also have to accomplish, such as banks and insurance companies. The purpose of these stringent requirements is to discourage application by certain persons who may be engaged in organized criminal enterprises or may lack the required experience or financial stability to properly engage in the operation of a gambling enterprise. Many gambling control boards have undertaken a process of allowing for multijurisdictional application as a way to ease and streamline the process of registration for establishments doing business across several state lines.
The Simple Solution
Companies like Slogold or CapStone Group provide a way to accomplish the licensing and registration of a gambling entity. They can offer ways to obtain licensure in offshore jurisdictions at a low cost as well as conduct any necessary research and other legal and compliance work that is required by a jurisdictional gambling control board. This type of assistance may provide a benefit for the gambling organization that wishes to conduct business in certain jurisdictions and lack the manpower or expertise to navigate the laws, rules and regulations within.
Licensing a gambling enterprise offshore requires the creation of a company for the service of process, billing and payments and getting that entity licensed.
Jurisdictions for Licensing Offshore
Antigua and Barbuda Gambling Jurisdiction
Obtaining a license in the twin-island Caribbean nation of Antigua and Barduda requires approval from the country's Financial Services Regulatory Commission and its Division of Gambling. The nation is the first jurisdiction to permit offshore licensing of gambling establishments, beginning in 1994.
Operators of establishments that maintain a primary server in the nation pay a gambling fee of USD$75,000 annually, as well as required taxes and a 3 percent fee on net winnings. For online and interactive gambling establishments the annual licensing fee is USD$100,000 and USD$75,000 respectively. The fees required for online gambling enterprises include a one-time, nonrefundable USD$15,000 fee, which covers the cost of processing the application for license.
Curacao Gambling Commission
The nation of Curacao has been active in issuing offshore gambling licenses since 1996 and is considered to be one of the most stable providers of licensing services for gambling enterprises. Curacao offers a single license type, covering all games of chance and skill as well as sports betting bookmakers.
Gambling enterprises wishing to be licensed in Curacao must be registered with the Netherlands Antilles Chamber of Commerce and designated as either an on or offshore legal entity.
Prior to the issuance of any license, a deposit of around USD$35,000 is required and payable to the country's Department of Justice for the purpose of investigating the licensing application. Gambling enterprises pay a monthly fee of USD$5.000 that is charged for a period of two years. The fee can be renegotiated at the end of this two year period.
Malta Gambling Commission
The Republic of Malta created its Public Lotto Ordinance in 2000 for the purpose of licensing online gambling websites. The country's Lotteries & Gambling Authority develops policies and procedures for all remote gambling enterprises doing business within its jurisdiction, including those engaged in casino type games, lotteries and sports betting. The fee assessed offshore gambling enterprises seeking licensing in Malta is USD$7,000. Application fees for remote gambling is USD$3,000. Additionally, the following other taxes and fees are charged:
- A 5% income tax
- A gambling tax of USD$107,000
- A fee for server hosting worth USD$5,400
- A key official fee of USD$18,500
- A fees for the maintenance of an office in Malta, secretary, and two shareholders, of $USD3,500
- An annual license fee of USD$9,000 plus a renewal fee of USD$1,500
Alderney Gambling Control Commission
The Alderney Gambling Commission was created in 2005 to provide a free market approach towards online gambling. An operator under a license issued by the Alderney Gambling Control Commission can accept bets from players in all other countries.
The license issued by the Alderney Gambling Control Commission creates a distinction between business-to-customer operators and business-to-business operators. Licensing applicants is required to pay the cost of all application investigations that are required prior to the issuance of a license. Application fees and taxes are required to be paid at the time of application. A Software Supplier Certificate license is also required to be obtained by the gambling enterprise.
The costs are the following:
- A tax for gambling license of USD $100,000 annually
- An application form tax of USD $15,000, which must be paid just once
- The Software Supplier Certificate license that will cost USD $15,000 annually
Kahnawake Gambling Commission
Kahnawake is also one of the first jurisdictions to allow the licensing and regulation of online gambling sites. Regulation of gambling activities conducted in Kahnawake is done through the Gambling Commission. The Commission makes provision for three distinct online gambling licenses; an Authorized Client Provider Authorization, an Interactive Gambling License, and a Key Person License.
With the Interactive Gambling License, the owner has the right to operate a co-location facility with an Interactive Gambling licensee, providing internet services to Authorized Client Providers who are allowed to conduct online gambling from the co-location facility that is owned and operated by an Interactive Gambling License holder. A Key Person License is granted to individuals in managerial positions for gambling enterprises that hold the Authorized Client Provider license. Application fees for an applicant seeking an Interactive Gambling License and Authorized Client Provider Authorization is USD$25,000. The fee for a Key Person License is USD$5,000.
Gibraltar Licensing Authority
Gibraltar's gambling jurisdiction, through its gambling control board known as the Gibraltar Licensing Authority, was created in 1998. Jurisdiction over gambling activities in Gibraltar extends to online gambling enterprises, including those engaged in online casinos, sports betting and the operation of online lotteries. There are no start-up fees charged for gambling enterprises making application for licensing; however there are annual taxes required of all operators to pay of at least USD $3,000, plus a 10% tax from turnover.
UK Gambling Commission
The UK Gambling Commission is the regulatory authority under the Gambling Act of 2005. It is authorized to issue licenses to online gambling enterprises doing business in the United Kingdom. Licenses are provided for games such as casino-type games, Bingo, sports and pool betting and lotteries that are conducted online. Applicants seeking a license in UK for gambling activities pay an application fee of USD $45,000 and an annual fee of USD $90,000 to the Commission. The annual fee is based on a gross gambling yield. Online gambling has a tax rate of 15 percent based on gross profit.
You can also use UK Gaming Commission online fee calculator from here .
Costa Rica Gambling Law
Costa Rica Gambling Board is currently providing what is known as a data processing license for online gambling transactions, only to offshore gambling enterprises. There are no fees or taxes on bets. The cost for an online gambling license in the country is USD$15,000 with a quarterly fee of USD$1,500.
Isle of Man Gambling Jurisdiction
The Isle of Man permits the licensure of both online and offline gambling enterprises. The country's Electronic Transactions Act and the On-Line Gambling Regulation Act paved the way for the legalization of gambling in the country. The country issues both full licenses that do not place a limit on the number or type of gambling activities that can be conducted, and also a more limited sublicense. The country does not assess a tax on corporations doing business in the jurisdiction, nor capital gains tax, duty stamp, inheritance or succession tax after application and licensing fees have been paid.
The costs are the following:
- A tax for gambling license of USD $55,000 annually
- An application tax of USD $1,500, which must be paid just once
Romanian Commission for the Authorization to Conduct Games of Chance
The government agency in the country of Romania responsible for issuing licenses to casinos and other gambling enterprises is called INM (National Institute of Methrology). Games permitted to be licensed by operators, who must register as legal entities in Romania are casino-type games, Bingo, Keno, lotteries, contest games and sports betting. The taxes are 16 percent from net profit, while also requiring a deposit of USD $300,000, which will be refunded after the casino activity has been closed. You can read more about the taxes in Romania here .
Other Federal jurisdictions permitting licensure
Casinos operated by Native American tribes are governed subject to the requirements of the Indian Gambling Regulatory Act, under the enforcement of the National Indian Gambling Commission. The Commission that runs the gambling control boards promulgates rules and regulations under the Act and establishes those requirements that flow to the individual tribal gambling control boards.
For information related to gambling laws in South America, please read this article .
BY CASINOWEBSCRIPTS PUBLISHED 30 March 2013