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Gambling Licenses In Different Countries
Gambling business is controlled by special bodies that issue licenses. If you are planning to open an online casino, pay attention to legality. This is important if you want to attract the attention of a large number of players. The gamble business is very popular, that is why online gambling is developing rapidly. You can read about it here https://en.m.wikipedia.org/wiki/Gambling.
Modern technology provides the opportunity to experience gambling from the comfort of your home. You can play on your smartphone or tablet. Gamblers all over the world love such opportunities.
If you want to open a legal business in Europe or the UK, you need to have a license. If a gaming platform operates illegally, it does not inspire confidence among players.
Countries that Allow Gambling
Gambling is popular all over the world. The exceptions are 8 countries that prohibit such entertainment. These include:
|7.||United Arab Emirates|
The offshore jurisdictions of Singapore and Cyprus surprisingly do not strongly encourage local involvement in gambling. Such entertainment has been a source of income for many years. There is an advantage for everyone – the state and the owners of gambling establishments.
Obtaining a license in any country is not easy. It is also worth considering how much does a gambling licence cost. There are specific rules that regulate this niche everywhere. Gambling is constantly evolving, so the rules are subject to change.
The Need for a License in Gambling
Obtaining a license is very important. Let’s look at the main reasons:
- ability to open a bank account and merchant account;
- it is possible to get game content from well-known software providers;
- working advertising;
- excellent reputation of the site.
To get a gambling license, you need to fulfill a number of conditions:
- study the available jurisdictions to choose the right one;
- check if your gambling establishment complies with the requirements of the jurisdiction;
- you will need to set up your company at the place where you obtain the license;
- prepare in advance all the necessary documents, which should include personal and company documents, as well as the software.
When you choose a specific jurisdiction, take into account all the requirements for obtaining a license. Previous preparation will help speed up the process.
There is only one type of gambling license available in Curaçao. However, it is available in two formats:
- Main. It is issued directly to the company that owns the gambling business.
- Sublicense. Provides an opportunity to conduct online gambling business, without the possibility of issuing such licenses to someone else.
Income tax is 0%. The security deposit is 34,000 euros. Holders of the basic license will pay almost 6,000 euros every month for 2 years. At the end of this period, the cost can be discussed and reduced accordingly.
A sublicense costs about $2,000 to $4,000. The license of Curaçao is found in many online casinos. For example, HighNoon casino and many others. The author of the gambling review website SlotsUp -Max Bet writes about this and many other interesting things in gambling.
After submitting a package of documents, it takes at least 6 weeks to review the application. If this period is delayed for longer, the operator can get a temporary license for six months. The basic license is valid for 5 years. If the operator complies with all the conditions, it will be extended automatically. The duration of a sublicense is unlimited.
The company must be located in Curaçao. This also applies to computing power and player data. The tax in the local area is 2%. Curaçao is one of the best options for obtaining a license. There are gaming license disqualifications for non-compliance with the rules and requirements.
Gambling License in Malta
Another well-known jurisdiction that offers 6 types of licensing:
- Management of repetitive games (poker, lotteries and others).
- Different betting.
- Promotion of gambling games.
- For platforms that offer remote work to other companies.
- Management of an online casino on another platform.
- Commissions for promoting other platforms.
Depending on the type of license, the tax is determined:
- 4,660 euros each month, for the first 6 months, 7,000 euros for the whole term, monthly;
- The first 6 months no tax, the next 6 months 2330 € monthly, then 4660 € every month for the duration of the license;
- 1200 euros every month.
You have to pay 2,300 euros initially and then another 2,500 euros for the registration and certificate. The annual fee is 8,500 euros. More information about this type of license can be read here https://www.mga.org.mt/.
Gaming License in the Isle of Man
The Isle of Man is another well-known jurisdiction that offers gambling licenses. The type of licensing is the same as that used by Curaçao. Owners can get a full license and a sub-license. The full one is obtained from the local commission. The sublicense is issued by the holder of the full license.
TheInternational association of gaming regulators is designed to regulate gambling around the world. Not all games require a license. For example, its permission is needed for the national lottery of the UK and the Isle of Man, those owners who already have a license. This also applies to some types of betting in games that do not depend on luck.
Taxes are collected on gross income:
- 1.5% up to £20 million a year;
- 0.5% – up to 40 million a year;
- 0.1% – over 40 million pounds a year.
To apply for a license, you have to pay £1,000. It takes up to 12 weeks to be processed. Each year the site pays £35,000. Sub-license holders pay £5,000. There must be at least two local directors. Corporate tax is 0%. However, the site is not allowed to accept players from the Isle of Man. We are talking about local residents. Study these rules and requirements carefully to choose the right licensing option.