These days, the online casino market is regulated by jurisdictions of almost all countries in the world. In some of them, the iGaming is completely banned, in other states it is only partially legal. In any case, if you want to operate your gaming club lawfully, you need to have an online casino license. How come that online casinos are under such intense scrutiny of public bodies? Why is it enough to register with the local authorities for most types of business, but it is necessary to obtain an Internet gambling license to open a gaming club? And, finally, how to get a gambling license? Read on to get answers to all these questions!
License for an online casino is necessary to operate legally. For the most part, this is due to the principles of responsible gaming. Online casinos have been known to be used to launder money or sponsor terrorism. This is why the authorities are trying so hard to take the gaming business under their control and monitor it. Moreover, without an online casino license, you are unlikely to get a certified gaming software and cooperate with the major players in the iGaming market. Players also pay close attention to the availability of an Internet gambling license before making a deposit.
The easiest way to get a gambling license
There are 2 main methods to obtain a license for an online casino. It’s up to you to choose which way to go, we mention only that the first way is much easier than the second one.
White Label Casino solution is a cost-effective method to get an Internet gambling license. In general terms, it’s a sublicense lease from the owner of the full online casino license. Roughly speaking, it is a rental of a ready-to-run gaming club. You get not just a license, but the all-in-one business that is fully ready to be launched in a couple of weeks. It includes a website, a gaming platform, the best gaming software and 24/7 support. Ironically, it is also many times cheaper than getting a license by yourself from scratch. If you are interested in a White Label Casino solution, contact us, and we will give you all the information you need. Do not wait for tomorrow, if you can start your business today!
DIY way: stages of getting an Internet gambling license
The main disadvantage of the White Label Casino solutions is that you are not the full owner of the gaming club. The lessor imposes certain obligations & prohibitions on you. In that case, you can apply for an online casino license by yourself. This process consists of several main stages.
- Business plan development. This is probably the most important step that will give you a more realistic view of your expectations. Do not forget about the pitfalls that may be waiting for you on the way to open a gaming club. In addition, the business plan will be essential in order to include it in the Internet gambling license application package.
- Paperwork. The package of documents depends on the jurisdiction of the country, but as a rule it includes a business plan, recommendations of shareholders, financial guarantees of a bank, information about the key employees and a marketing promotion plan.
- Payment of fees. You will need to pay a considerable amount of money just to apply for a license for an online casino. If the application is not approved, you will not get your money back, so be careful about the previous step!
- Await the decision of the committee. Perhaps the most grueling stage. Due to the strong bureaucracy, you will need to wait at least 2 weeks, but it usually takes several months (up to 6).
How much does it cost to get a gambling license?
We would like to remind you that the final price will depend on the issuer country of the online casino license. In addition, it is worth considering not only the fee for the release, but also taxes, administrative costs and the recruitment of the local specialists. You also have to pay a fixed annual fee for the use of an Internet gambling license.
You can obtain a license in one of the offshore states, such as Curaçao or Malta. Their prices are the lowest and the approval rate is higher. For example, in Malta, adding up all the costs of obtaining a license for an online casino, you will have to spend about 60,000 euros. Nevertheless, offshore zones are not considered prestigious, because people often associate them with tax evasion and fraud. When it comes to licenses of European states, such as the United Kingdom, the prices can be called exorbitant.
Once again, do you really think that in 2022 you should pay a fortune just for an attempt to start your own gaming club? We don’t think so. We can help you launch your online business at minimal cost & in the shortest possible time. With our Bitcoin Casino & White Label Casino solutions, it is possible to start in just a couple of days. You will be able to work under our sublicense or even without an online casino license at all, if we integrate the crypto gateway into your gaming platform.
Let’s create the new leader in the iGaming industry together!