How to Buy a Gambling License in 3 steps

If you want to create a casino, bookmaker or gaming platform, an entrepreneur first needs to have the appropriate permission. Legalization of commercial activities is the first step towards safety and the possibility of developing projects.

A gambling license is a document that allows you to run bingo, all kinds of lotteries, options and an online bookmaker. Below we will look at how to quickly and efficiently implement gambling license purchase and what assistance is needed.

In this article, we’ll talk about comprehensive advisory and practical support regarding any issues related to gambling and gambling license acquisition.

Gambling Licensing: Jurisdiction Selection, Market Research and Assessment

A gambling license provides the owner with permission to conduct business in the gambling industry. Moreover, its effect extends not only to online casinos, but also to various lotteries, bingo, options trading, online bookmaking services, and so on.

Each country has a special regulatory body. It develops certain requirements and conditions that each operator must meet. A gaming license will only be granted if regulatory authorities confirm that all requirements are met. Otherwise, licensing will be denied.

As a rule, the requirements relate to the performance of the games presented in the casino, the presence of a detailed business plan, an AML-policy taking into account local and international legislation, and a detailed description of the business activities, but are not limited to them.

That is, in each country, licensing requirements can vary greatly, so in some jurisdictions it is more difficult to obtain permission for gambling activities.

After obtaining a license and starting operations, companies are subject to a number of additional requirements, in particular those related to maintaining and submitting financial statements and auditing the company.

The general requirements for obtaining a gambling license in almost all jurisdictions are:

• the need to open a company in the country of obtaining a license;
• requirements for the formation of a company with a certain amount of authorized capital;
• fee for obtaining a gambling license and annual fee for using this license;
• issuance of a license for a limited period;
• the company undergoes an inspection by the country’s regulatory authority on gambling issues to fulfill all regulatory compliance points.

When choosing a jurisdiction to get gambling license buy option, you need to pay attention to the following factors:

• the cost of servicing the company’s activities in this jurisdiction;
• cost and timing of opening a company bank account;
• tax burden on gambling activities;
• the company’s obligations to regulatory authorities: regularity of audits, disclosure of corporate information, possibility of inspections, etc.;
• cost and conditions for issuing a gambling license.

Let’s look at some of the most popular and frequently chosen countries for gambling.

Curacao

1. Curacao’s unified license covers all types of gambling.
2. Loyalty requirements regarding anti-money laundering and customer identification, as well as for license renewal.
3. International reputation.
4. B2B and B2C licenses.
5. Annual fee of €49,200 + €250 per domain.

Isle Of Man

The Isle of Man Gambling Control Commission oversees the entire gambling industry under the Online Gambling Regulation Act 2001. The licensing regime includes full licenses and sublicenses covering all types of gambling:

• license applicant requirements include an administration fee of £5,000, £50,000 per annum for a network services license, £35,000 per annum for a full license or £5,000 per annum for a sub-licence;
• gambling tax ranges from 0.1% to 15%;
• software must be tested and certified by independent auditing companies to ensure fairness and reliability.

England

England is one of the most developed countries in the field of gambling. Here casinos and gambling are permitted at the legislative level. In this case, entrepreneurs are required to obtain a license. Tax contributions are kept low. If a non-resident submits an application, you will not have to pay an additional fee or incur significant financial costs.

To obtain a license, the type of game is taken into account. Not only local but also foreign companies can apply for a permit. The following package of documents will be required:

• game certification;
• software information;
• business-plan.

Alderney

To obtain a permit, a permanent economic presence in the country of registration is required. This means that you will have to start with experienced employees in financial matters. It is also necessary to rent or purchase an office with a physical address.

To obtain a license you will need the following set of documents:

• detailed description of the games;
• business plan;
• AML-CFT Policy;
• RPT, RNG certificates.

Application Process and Documentation

Applying for a gambling license is a complex process. It varies by jurisdiction and type of activity, so here’s a template process with requirements and factors to consider regardless of jurisdiction. If you decide to purchase a premade permit, you can avoid going through the following steps.

1. Choice of jurisdiction. Select the country in which to launch your business. Review the company requirements in your specific jurisdiction.
2. License type. Determine the type of license that suits your company.
3. Creation of a company. Register the business in accordance with the laws of the jurisdiction.
4. Preparation of documents. Prepare certificates, statements and other papers necessary for submitting the application. Typically this includes a business plan, financial reports, information about the organizers and managers.
5. Drawing up an application. Fill out the application, adhering to the requirements of the regulator.
6. Filing an application. Submit the application and supporting documents to the regulatory authority.
7. Fees. Pay all licensing fees and duties.
8. Checking and processing. Wait until the regulatory authority reviews the application and examines the financial stability and legal activities of the company.
9. Issuance of a license. In case of a positive decision on the application and inspection, obtain permitting documentation.

The process for getting gambling license sell option is as follows.

1. Contact specialists for consultation and further cooperation. They will conduct a comparative market analysis for you and help you choose the most suitable jurisdiction taking into account your intentions, conditions, budget and plans.
2. Filling out the application.
3. Beginning of paperwork taking into account documentation requirements: personal data of the applicant or applicants, confirmation of the availability and origin of funds, confirmation of the absence of violations of the law and other claims, etc. may be required here. The seller may require any other documents at its discretion.
4. Review and approval of the applicant.
5. Final paperwork and conclusion of the transaction.
6. Gambling license transfer to a new owner.

It is impossible to organize a gambling business in every jurisdiction, since this activity is regulated. However, several countries issue such permits and allow their holders to work with clients from other countries where it’s allowed.

As a rule, one or another organization creates a list of requirements that the owner of a bookmaking business must meet. First of all, this is compliance with laws, standards relating to the company’s financial accounting, auditing, functionality of existing games and a detailed description of the company’s activities.

So, to summarize, the creation of online betting begins with obtaining permits. Their presence guarantees operator reliability. Experienced players first check whether the operator has permission to place a bet.

If not, then the business is acting illegally. This means that it can deceive users, intend to replace the results of the competition, or not pay out winnings. Such a company immediately ends up on blacklists.

The rules are determined by the licensing regulatory body chosen by the entrepreneur. As a rule, they relate to the economic accounting system in the organization, audit and description of the movements of the enterprise. The list of required documents varies depending on the form of permission.

That is why, taking into account all the above regulatory parameters and nuances, purchasing a ready-made solution is the most optimal and profitable option, as well as fast and effective in terms of starting a business and profitability.