Nowadays online casino has won the status of the most attractive type of e-commerce throughout the world. Experts listthe following catalysts for the profitability growth of this type of service: increasing varietyof electronic payment methods for services,prize obtaining, as well as active promotion of mobile Internet gadgets(tablets, touchscreen smartphones, 3G, 4G-modems, etc).
Besides the CIS countries, at present there are about 35 countriesworldwide where casinos legally prohibited for their citizens. Among them, in particular, one may encounter the countries actively offering licensing of such an activity for the organization of the international online casino: Costa Rica, Malta.
As common practice shows, lenders and their intermediaries providingpaymentacquiring service with Visa / MasterCard / DinersClub / AmEx plastic cards for this type of activity give the organizer discretion in making decisions on whether to block acceptance of payments from one or another territory on the basis of incoming information about IP- addresses.
The best way of organizing the work of the international online casino requires registration of the company, the appointment of directors of the company and placing the server in a jurisdiction loyal to the gambling activity. In such states, provision of licenses for gambling activities is not prohibited as well as opening of the merchant bank account for the same company.
Up to date, the best available jurisdictions for gaming licenses are:
• Curacao • Antigua and Barbuda • Costa Rica • Malta • Gibraltar
For the companies involved or planning to be involved in the market of online gambling, SBSB offers a first-class service on gambling business abroad. We offer licenses in those jurisdictions where the conduct of gambling is in full compliance with the local legislation.
We can see that many entrepreneurs, starting their journey into the world of gambling, do not understand all the components and processes of the business.
Some startups are experts in the field of gaming, others – businessmen and software developers, but if you decide to create your own online casino you need to be little bit of everything.
As lawyers, we see that the stumbling block in the whole process is a lack of understanding of the laws. You run a global business process, so the first thing you need to do is to seek legal advice. You must be sure not to violate international rules and local laws related to the conduct of gambling.
In order to be sure that you act right, follow the proposed plan below.
The information is prepared on the basis of our experience as professionals in the field of legal support of online casino projects.
6 KEY ASPECTS OF THE INTERNET CASINO ESTABLISHMENT
Key aspect # 1: Determine the best jurisdiction to launch your project.
Below is a brief classification of the major offshore jurisdictions where activities of online casinos are permitted and regulated.
On the basis of this data, please select the jurisdiction.
• Term – 3 months; Annual maintenance US$ 200,000
• Term – 2 months; Annual maintenance US$ 60,000
• Term – 1 month; Annual maintenance US$ 10,000
• Term – 1 month; Annual maintenanceUS$ 35,000
• Term – 3 months; Annual maintenance US$ 10,000
• Term – 2 months; Annual maintenance US$ 100,000
Undoubtedly, the best options for today are Curacao and Costa Rica.
Obtaining a license together with the company registration takes 1 month and the cost of maintenance is significantly different from other jurisdictions.
Key aspect # 2: Define the target market and the types of games. Determine the location of servers.
Decide on which countries your customers are: CIS, Europe, other countries? This information will be required to connect a merchant account to the site.
Hosting locations is a very important aspect for business security. Think about where to place the server.
Work with the most popular gaming platforms: Evolution Gaming, NetEnt, Microgaming, BetGames.tv, SpotOption and others.
Examine the terms of cooperation and decide with whom to work.
Key aspect # 3: Identify the corporate structure, namely the jurisdiction and management of the company.
Decide on who will be the shareholder or shareholders in your company, what are the share proportions,who will manage the company (select the director).Also do not forget about the possibility of using the nominee service.
Director is most commonly chosen as a nominal person.
Key aspect # 4: Get a license to operate.
An important step is to obtain a legal license.
Once you have decided on the jurisdiction, the first step towards obtaining a license is the registration of a local company. The application for a license must be submitted by a registered local company.
We offer two of the best options of jurisdictions to obtain a gaming license: license of Curacao and Costa Rica. Licenses of these jurisdictions are completely suitable for casino games, for bookmakers, lotteries and bingo.
Key aspect # 5: Integration payment options.
– Opening a bank account.
– Integration merchant account on your site to receive payments online.
A mandatory stage for starting gambling business is to open a bank account. Online casino gambling, the lottery are the activities of the high risk.
Not all banks are working with high risk businesses. Our company offers the opening of an account on the company registered in Curacao and Costa Rica.
Note that opening a bank account is already included to the cost of services for the implementation of the game project.
SBSB has extensive working experience with merchant service providers who process high-risk sites, including sites with online casino operations. Therefore, we will help you to connect merchant account for making payments online. More detailed conditions we are discussing during personal meeting or on Skype.
Key aspect # 6: Go FORWARD!
Finally! This is moment you’ve been waiting for! The website is finished,the structure is ready as well and you have the entire necessary legal basis.
In addition, through our partnerswe can offer the following:
• Creation of online casinos and betting sites.
• Mobile applications and versions of all products.
• Creation of sites of binary options brokers.
SBSB will offer you a range of services, which includes recruitment, filling the necessary forms, rent of office space, assistance in passing the testing and certification of software.