The complete GBO Turnkey solution
GBO is ready to help you every step of the way. Our team of specialists is experienced in all aspects of what you need to create your own online gaming or crypto services website and be up-and-running in the shortest possible time.
Obtaining a gaming license and crypto license in various jurisdictions
For more than twelve years, GBO has been helping our hundreds of customers to buy the proper license needed to operate a legal gambling website. The license is important both to keep you on the right side of the law in whichever jurisdiction you choose to be based, and also because customers trust licensed websites where they know their stakes are safe and banks are prepared to lower their barriers against high-risk businesses. Without a proper license, you will find it hard to open a corporate bank account, or to create merchant accounts and payment processing systems that let you handle the flow of money into your site.
GBO has experience in Curacao, Malta, Kahnawake and other trusted jurisdictions that provide affordable online gambling licenses. With our help, you can get the license fully approved in as little as two weeks.
License requirements for crypto exchange and crypto wallet services provider companies is a new field that only started to grow in 2020. GBO has been active from the start, and already has helped customers in European jurisdictions like Estonia and Slovakia to qualify for crypto licenses.
All countries and jurisdictions that issue gaming or crypto services licenses make it a stipulation that the license must be held by a company that has been registered inside that country or jurisdiction.
Although each country has its own legislation, the rules for European operations – and Curacao is considered a European jurisdiction because it is part of the Kingdom of the Netherlands – are all very similar. Let GBO help you to create the right corporate structure in the shortest possible time. With our services, your company setup will be carried out fully remotely with no visit required. It normally takes about ten working days from when we receive all the required original documentation.
The basic rules applicable in all jurisdictions are:
- The registered office must be located in the country where you buy the license
- The company must be registered with a unique name
- The company must have a resident director or must appoint a resident local agent who will manage its affairs
- The company must nominate an AML (Anti-money-laundering) officer, who can be one of the above officers.
The company must supply the following information:
- Directors’ details – citizenship and country of residence, current address with a notarized copy of passport or other such official identification
- If a local agent is appointed, the same ID documentation is required
- Company ultimate beneficiary’s details – ID same as for directors, plus a signed letter of intent
- Some proof of locality, like power and phone bills, bank statements with their names.
- Completed KYC (Know Your Client) documentation in full
- Completed AML (Anti-money-laundering) documentation in full
- Completed Due Diligence Documentation in full
Opening business bank accounts
GBO specializes in helping online gambling and crypto services companies to open bank accounts in Europe – both B2B and C2B. GBO has the skills and experience needed from twelve years working with banks all over Europe to help you open business banking accounts thanks to our wide network of friendly banks.
Many traditional banks lack knowledge about online gaming enterprises and crypto service providers and so they are hesitant to open accounts for these companies, classifying them as high-risk.
The process of opening an online corporate bank account for gaming and crypto service operations is more complicated than opening a regular bank account. Even if they have agreed to open online business bank accounts for your business, activities will be screened and monitored closely by the banks and there is a high risk of rejection of transactions, or even account suspension or closure.
Many large banks won’t process gambling or crypto transactions. Major credit card companies also have an ambiguous policy, but all retain the right to refuse to process transactions, and to freeze or even close the account
The bottom line of all these complications is that if you try it on your own, you run the risk of outright refusal, or long delays and higher costs. With GBO, the process is smooth, fast, and the success-rate is very high.
Opening a merchant account
All online gaming and crypto service operators need merchant account providers in order to accept online deposits from their customers. Most commercial banks refuse to supply these services because this kind of business is classified as high-risk.
For many of our customers, GBO has been able to overcome such problems by connecting them with an account provided by offshore merchant account providers. With such accounts the company receives the full range of payment processing services including the necessary facilities for accepting digital money transactions.
The process must cater for when a customer makes an online transfer into his account, or withdrawal from the account. Once the transaction is cleared, funds are then credited to the company’s business bank account at the nominated corporate bank. Companies have no control over a merchant account, it is simply a holding place for funds until the transaction is approved.
GBO recommends offshore merchant bank accounts that specialize in e-gambling and crypto service in favorable locations. By selecting an off-shore merchant bank, you can create the corporate structure and necessary banking and merchant account facilities somewhere in Europe even when the actual gambling or crypto operation is based elsewhere.
Introduction to White Label software for online gaming
The quality of your website and the user experience it offers will be one of the main attractions that can determine the success of your operations. You can use GBO’s expertise to select the type of solutions that suits you best.
A “White Label” system is an out-of-the-box solution provided by software vendors who have specialized in online casino systems. With white label solutions, the full site is already built and requires only your brand name and a “look-and-feel” design according to your preferences. A white label solution will provide your players with an easy-to-navigate and user-friendly interface with intuitive controls. As an additional advantage, we can recommend some white label casino software packages that come with built-in payment methods, so there’s no need to go looking for merchant account providers.
A white label solution is the solution that requires minimal up-front investment. It can be purchased or leased, making lower demand on your setup costs.
As an alternative, you can think about a turnkey system, that provides a more advanced option if you are wanting a more customised solution and a platform designed to be tailor-made for your specific kind of operations. Turnkey solutions take more time and cost considerably more but provide more independence in operations.
In either case, let GBO help you to ensure that your software provider has experience with online casinos; offers customization software; supports multiple payment options and has an advanced gaming management system.
If you need to know more to determine the best solution for your needs, contact GBO can help you.
Everything you need for starting your crypto or gaming business
Starting an online casino or crypto services business requires multiple steps before you can start generating money from the operation. You should seriously consider getting expert advice from GBO, because it’s a specialized field, and there are many specific traps and unusual features that can cause the setup to fail completely, costing you all your time and money, or at least to take much longer than necessary. In return for our very reasonable fees, you get a full range of services from our experienced team, including:
- Our guarantee of a smooth and simple process
- A fully reliable and complete turnkey solution
- No hassles for you
- We offer the lowest possible company formation and license purchase prices
- We allocate a dedicated professional account manager to cover all your bases
- We assist you with locating accepting banks & payment service providers.
Some of the main steps we will help you with are:
- Formation of the required company that holds a gambling or crypto services license in your chosen jurisdiction
- Purchasing the required license
- Setting up bank accounts for your company operation
- Setting up merchant accounts and payment processing solutions to handle the website money features
- Establishing a functional software platform on a website.
Each one of these steps requires knowledge of the rules and regulations that apply specifically in the selected jurisdiction in which the operation will be based. It is essential to have a complete plan that takes every possibility into account so that surprises and blockages are avoided.
GBO has been advising investors on the best way to set up online gambling operations for more than 12 years. We have the knowledge and experience of what it takes to license and set up gaming and crypto service websites at the most advantageous cost and fastest times.