Gamble business-structure is interpreted in legislation in some cases as a prohibited activity. At the same time, there is a way to conduct business in the field of online gambling and not go beyond the legal framework. To implement that, capital-holders need to establish virtual casinos and become a holder of special permission. Below we’ll get closer to trends in gamble licensing waiting for us in 2023 and further.
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General licensing concept and forecasting gaming license trends beyond
Gamble permit is a document allowing running an online business in the field of gambling: bingo, all kinds of lotteries, options, an online bookmaker, as well as an online casino. Gamble permit is issued by a special regulated body, which develops a set of requirements that the owner of a gambling business must fulfill. Compliance standards primarily concern the company’s financial accounting, auditing, functionality of existing games and a detailed description of the company’s activities.
Changes in licensing are inevitable; implementation of current strategies for future licenses will lead to improved quality and safety of services in the gambling industry. Stronger regulatory oversight will increase confidence in gaming companies licensed in this jurisdiction. Reducing the number of sublicenses will reduce the number of gambling operators, but increase their quality. Licensing costs will also increase.
Trends in the development of legal regulation in the field of gambling licensing are positive and are intended to retain only the largest “players” and stable participants in economic turnover in this market. At the same time, based on the fact that the gambling business is a business activity, the state must ensure the stability of its legal regulation.
The requirements that regulators impose on gambling companies are very similar to those imposed on banking institutions:
- the owners and team of employees must have experience in finance to guarantee the stability of the company;
- persons who have ever been involved in illegal activities will receive a refusal from the regulator and their application will not be considered;
- regulators often check applicants for a clean record;
- some jurisdictions require information about the firm’s financial structure, employees and partners.
The most popular jurisdictions for opening a gambling establishment are currently next-mentioned:
- Antigua and Barbuda;
- Great Britain;
- Costa Rica;
- Isle Of Man;
Naturally, a firm can be licensed in other countries; for example, Estonia is increasingly in demand.
Evolution of gaming licenses: emerging patterns
Despite the fact that as a rule getting a gamble permit is a fairly quick process and not overloaded with difficulties, when applying for this permission yourself, a number of problems may arise, the solutions to which are ambiguous. Settlement and re-registration will take a lot of time and resources, but this can be avoided.
Experienced specialists of our team will help solve any problems related to obtaining a gambling license in the shortest possible time. On top of that, we provide legal advice and valuable recommendations to all our clients on how to obtain a gambling license as profitably as possible.
Technological innovations: gaming licensing shaping
Regulation of the gambling industry in many jurisdictions is quite ambiguous. Accordingly, in some countries gambling is subject to minimal regulation, or not at all.
Certain jurisdictions do not allow operators to operate locally without a license. However, foreign companies can provide their services to the public. Such countries include, in particular, Greece, Norway, Sweden, etc.
Some countries – Denmark, France, the Netherlands, etc. – provide an official opportunity for gambling companies to operate with a local license. The same jurisdictions, such as Mexico, Nigeria, Brazil, etc., prohibit local gambling operators from operating, but allow foreign companies to enter the market, even if they do not have a license.
In some other countries, gambling structures are not prohibited and do not require any licenses for their activities. Such spaces include, for example, Saint Vincent and the Grenadines.
To choose which country to start your legal activities in, you must first study the rules for gambling in that state and understand whether you can comply with them.
- Antigua and Barbuda – for licensing you need to submit documents that comply with the laws and pay an application fee. It offers reduced tax rates on net profits.
- Curacao is one of the most reliable jurisdictions for gambling establishments. To obtain licenses for casinos, lotteries, slot machines and other types of gambling, there is a single application form.
- Malta is a very reliable jurisdiction, but the registration procedure here is quite complicated and takes a lot of time. You need to pay a lot of fees, which depend on the direction of the establishment.
- Alderney – the license of this island allows you to work around the world. To apply, a company must have a Software Provider Certificate.
These are just a few jurisdictions where you can license the activities of a gambling establishment. To understand more about the possibilities and choose the appropriate option, contact the specialists of our company. We will help you choose the most favorable conditions for your business.
Regulatory responses: gaming dynamics changing
The gamble industry is regulated by authorities, and they differ depending on the state. But the general principles of regulation are next-mentioned.
- Legislation. All jurisdictions have laws and regulations governing gambling. They establish the rules for organizing and conducting gambling, conditions for issuing licenses, tax obligations, etc.
- Licensing. Gambling companies are required by law to obtain licenses to legally offer services. They are issued after inspection of the enterprise and its management. There are different types and depend on the type of company (poker club, casino, bookmaker, lottery, etc.).
- Control and supervision bodies. All jurisdictions have supervisory authorities and commissions that oversee the gambling sector. They ensure that licensed operators comply with laws, conduct audits and ensure transparency and honesty.
- Taxation. The government collects taxes on the profits of gambling operators. Tax policy depends on the type of gambling entertainment that the company offers.
- Player protection. Regulation of gambling activities includes measures to protect the interests of players. This includes restrictions on the age of players, combating gambling addiction, and providing players with information about the probabilities of winning/losing.
- The international cooperation. Gambling operators operating in the global market are required to comply with international standards, as well as rules for cooperation with other countries. This also comes under regulatory aspects.
- Prohibitions and restrictions. Certain countries have a complete ban on gambling. This is worth considering.
Adapting to gaming trends and future gaming developments
Semi-legal activities are regarded as a violation of the law and are therefore subject to sanctions that will entail problems with international law. Only a license is an indisputable guarantee that the gambling business has an exclusively legal basis.
There are all the prerequisites that regulatory measures will only intensify and next-generation gaming licenses will be more secure and confident, but hard in their gettin. Many countries intend to make gambling as reliable and safe as possible for users. What does this mean for operators? Extra expenses on analytical and legal departments in order to respond to legislative reforms in a timely manner and understand what to do next. In addition, the promotion model for the marketing campaign, loyalty programs, as well as ways to reward new players will change.
According to the gaming industry predictions, more countries are seeking to legalize gambling, but licensing conditions and regulation of operators are becoming stricter. Some operators successfully adapt to changes, while others do not, leading them to disappear from the market.
Applying for a gamble permit is a legal process that requires careful consideration of the requirements of a particular jurisdiction. Our company’s lawyers will accompany you throughout the entire legalization process. We will help you choose a jurisdiction to legalize your business and quickly resolve all problems.
The article’s author is Denys Chernyshov – founder and CEO of the globally-famous organization Eternity Law International.