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  • Gambling licensing what you need to know

    So, the decision to open one’s own online casino immediately poses the entrepreneur with the difficult task of gambling licensing. Russian entrepreneurs face serious difficulties at this stage. They are connected with the peculiarities of the current legislation.

    Russia has a law on gambling licensing, and severe restrictions on the organisation of gambling and casino operations. Their work is only allowed in specially designated areas, and online casinos are completely prohibited. Therefore, licensing of online gambling business in the Russian Federation is not possible.

    The similar situation is observed in a number of other post-Soviet countries. A ban on gambling is in place in Belarus, Ukraine, etc. However, all these prohibitions have not made gamblers less gambling, and entrepreneurs – less enterprising. The alternative has been to license gambling businesses in offshore zones.

    Gambling licensing choice of jurisdiction

    The list of jurisdictions offering gambling licensing is around 80 countries. The conditions of the procedure may vary considerably in terms of complexity, cost and duration. Therefore, the key for the entrepreneur is to choose the best jurisdiction.

    The choice should take into account:

    • the requirements for an online platform;
    • conditions of incorporation of a legal entity;
    • additional conditions;
    • the length of the procedure and the cost of processing;
    • the type of licence issued – universal or per activity;
    • license term.

    By far the most popular jurisdictions include: Curacao, Malta, Isle of Man, Costa Rica, Alderney and others.

    Gambling licensing what you need to know

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    Why gambling licensing is needed

    The logical question that arises in every entrepreneur who has decided to open an online casino, why do you need a gambling license. Is it possible to do without a license for online casino?

    So, let’s answer the first question and briefly mention the advantages of gambling licensing:

    1. Geographic freedom. Licensing in a selected jurisdiction implies that the computing facilities and the legal entity will be registered and physically located in that particular country. But this is where the ubiquity and power of the Internet comes in to help businesses. The operator can choose to operate in any region.
    2. A business reputation with a plus sign. A license confirms the safety and reliability of the resource and its compliance with international norms. Leading developers of software for online casinos prefer to work exclusively with legal sites.
    3. Confidence on the part of the players. The legitimacy of the platform’s activities creates a positive image and inspires trust among visitors.
    4. No problems with financial transactions. An online casino cannot operate without opening bank accounts and connecting payment systems. This would be problematic, if not impossible, without a licence.

    You can get advice on jurisdiction selection and assistance in obtaining a gaming licence from the experts at B2bslots. We have the lowest prices and guaranteed quality services.

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