License for online-casino
Online-casino is an independent and profitable business requiring the software product development and appropriate legal support. First of all it is necessary to obtain a license.
What do you need the license for?
The activity of the legislative authorities in various countries is inextricably linked to the legal support development for cyberspace in recent decade. The ways of conduct of operations in the gaming industry are developed and improved from year to year. Consequently, the responsibility for gambling areas in the Internet is also established.
Online-casino is an Internet platform for gambling. The platforms of the slot machines, card games, roulette and sports-betting firms are established and functioning in the worldwide web. Such activity implies the confidence of the website users to their authors due to the fact that the real amounts of money are transferred in the course of game.
You need special permit (license) for casino opening due to the fact all kinds of gambling belong to the licensable kinds. License as the attribute of the Internet-business legality provides for the set of advantages for the user:
- simplified taxation regime, tax exemptions;
- advanced opportunities for cooperation with the Internet product developers;
- lawfulness of the legal agreements, protection of the platform interests at the courts;
- bank deposit opening, other economic and legal instruments;
- casino legality, increase in rates due to confidence of users.
Absence of the permit not only casts doubt on the platform’s activity but also poses a threat to the administrative and even criminal liability of the owners. The licensed business project is under regular financial audits for the compliance of the random number generator software with the international standards on the part of the controlling authorities. So, the platform owner can not “twist” the coefficient of the winning combinations.
The information on the permit and the state which issued this permit is published usually at the bottom of the front page of online-casino. The absence of such data is contrary to laws of the most countries issuing the document.
Permit procurement: let’s choose the jurisdiction
Although the gambling practice is international, it is related to the jurisdiction of certain state which issued the license. Some persons prefer conduct of business in less-developed countries where the informational legal regulations are absent. Although such option cuts the economic self-cost of the project it is fraught with absence of the legal route.
The constant variability of laws and regulations in the field of the information technologies shall be also taken into account. So, the largest world casinos were based on the Internet-resources of Australia up until 2017. The residents of the green continent were considered to be the risky nation, and the income of such Internet-resources was equal to more than 8 billion US dollars annually. Then the government passed an act on the restrictions of the foreign gambling operations. The complicated mechanism of permit procurement was established and the taxes were imposed. As a result, the operators of the gambling operations were bound to transfer their assets into the other jurisdiction.
The laws and regulations of some states have certain constraints related to the online-casino establishment. Each country provides for own mechanism of the license procurement, cost, procedure of tax payment and warrants for the gambling business owner.
Some European states and the Caribbean countries offer the most popular conditions for gambling business conduct. Let’s consider the benefits and drawbacks of every jurisdiction.
The Curacao island belonging to the Netherlands attracts the investors by the expansive cost benefits and absence of the income tax. The website owners place own powerful servers within the territory of the state, and the country offers the favorable conditions of business conduct.
Curacao is characterized by the compact procedure of permit procurement, about a month. Such system enables the state to become the gambling center among the islands of the Caribbean archipelago without substantial material expenses.
Kahnawake as the gaming industry area is characterized by the extended legal framework. The Gambling Commission was established in 1996 here; this commission deals not only with online-casino registration and licensing but also with the protection of he rights and interests of businessmen and users.
The fixed payment system applies during gambling business conduct in the state. So, the permit issue costs 40 000 conditional units, random numbers certification costs 15 000 dollars, the annual installments will be equal to $10 000 for the casino owner. The income tax is not applicable.
Malta and Gibraltar
The similar conditions of gambling business conduct are offered within the territory of Malta and Gibraltar. There is no license nominal cost. However, the requirements to the financial statements are substantial. The financial audit shall be carried out annually; tax payments are equal from 0.55 to 1.25 percents of the annual income with due regard to profit.
The casino owners may obtain two types of license – standard and extended enabling to attract the customers, including within the territory of the Great Britain.
Our company has 18 years of experience in the registration and license acquisition in the field of gambling activity. InBet was involved into the establishment of the gambling legal entities within the territory of 42 states in 4 continents. Our customer base includes 15 000 orders; more than 3 000 gambling projects are launched all over the world.
We have the certificates GLI 15, GLI 19, BMM to our credit customized for the jurisdictions of the states – sites for gambling operations. The innovative approach to work and the use of the latest engineering technologies enabled us to receive more than 10 international rewards such as "The innovative supplier of the year", "The best innovative products", "The best establisher of the casino-platforms" etc. We offer the best cooperation conditions to our customers.