Gaming license application, apply for online gambling license, Curacao application,
GBO has twelve years experience helping investors apply for online gambling licenses so they can set up extremely profitable offshore gambling operations. With our assistance in establishing your online gambling license application, you will achieve the quickest path to your destination, at the most reasonable possible cost.
The best thing you can do is to consult with experts like GBO, who have many years of experience in the whole range of available licenses, and know the best way to negotiate so that you get the right deal.
We can help you obtain your online gaming license, please contact us
Online gaming has been growing into one of the hottest areas into which investors can start to move substantial funds from the overheated markets, and immediately start to see substantial profits with tremendous medium-term and long-term growth.
The first and most important aspect of the new market is the establishment of many offshore locations such as in which it is entirely legal to set up and operate online casino gambling.
What are the basic requirements for acquiring a gaming license?
Individual countries and territories all over the world can, and do, set their own fundamental laws concerning licensing of gaming operations, in some cases restricting them in some form, and in others permitting gaming freely. The applicable principles are that the law of any country where the license was issued applies as a matter of principle, but also that the laws of any other states or territories from which customers access the offshore gaming operation can also be relevant.
Most countries and territories that permit gaming have established some supervisory authority that is authorized to issue licenses, and regulates and monitors online gaming business conduct. The Curaçao Gaming Control Board handles the Curaçao application.
The following is a summary of some of the other popular countries that have established such authorities:
- Alderney: Alderney Gambling Control Commission
- Gibraltar: Government of Gibraltar, Gaming Division
- Greece: Hellenic Gaming Commission
- Isle of Man: Isle of Man Gambling Supervision Commission
- Jersey: The Jersey Gambling Commission
- Malta: Malta Gaming Authority
- United Kingdom: Gambling Commission
In most cases before a company can secure the relevant license, it must be given permission to function in terms of the local sector-specific license requirements and must give assurance of compliance to the rules.
The main purpose of this procedure is to ensure that all of the people associated with a particular gaming organisation, such as owners and partners, managers and employees conform with the jurisdiction’s protocol.
Common terms and conditions required by most authorities
Although there may be differences between jurisdictions, most authorities will require the following commitments before issuing or approving a license:
- detailed description of the gaming business model
- comprehensive reports of accounting data and auditing information
- a full description of the games being offered to the players
- a full description of the supporting systems.
Requirements for the issue or ownership of an offshore gaming license
The requirements for obtaining or registering a license for offshore gaming operations primarily concern accounting and auditing; the functionality of the games and a detailed description of the company’s financial structure
A universal standard across almost all jurisdictions includes:
- A verifiable identity of the owners and management employees
- The lack of any criminal records
- A clean credit record
- Full information of the financial resources committed to the online gambling business.
Local residence requirements
In almost every jurisdiction, a primary requirement is that at least one of the directors or senior managers of the company has the citizenship of, or resides in, the country where the license will be issued.
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GBO is a market-leading Curacao Gaming license services provider
How to apply for a gaming license?
The procedures of gaming license application vary across all jurisdictions. Each application is assessed against the published requirement, and in any case of non-compliance with certain gaming license requirements, the authority may reject an application for issuing or registering a license. If approved, the company is deemed to have agreed to conduct their online gambling business under the laws of the given jurisdiction.
GBO offers the services of our team of professionals who will provide all the required information on how to obtain a gambling license in the jurisdiction of your choice, which will be tailored to your stated needs and budget.
Which is the best online gambling license?
Based on our experience over twelve years, we can recommend the island of Curacao as the most attractive jurisdiction for establishment of new offshore gaming operations. The main reasons for this recommendation are:
- Curacao offers the widest range of gambling types, including sports betting, casino games, poker, bingo and lottery
- Companies that have been correctly set up will attract very low tax rates, with no restrictions on repatriation of profits
- There are no restrictions on cryptocurrency trading
- There is a high demand from online casino companies world-wide, with over 450 licenses in operation
- Set-up is an easy to get, fast and low-cost procedure
- Low yearly maintenance fees
- With our help, you can open bank accounts and payment services processors
Obtaining your Curacao sub-license
We at GBO have a great experience in the Curacao market’s activities and we can provide all the corporate structures and required licenses
Curacao has two types of gambling licenses, the master license and a sub-license. While it has basically become impossible to obtain a master license in Curacao, the ability of master license holders to issue sub-licenses that have the same rights makes it simple to obtain a license. The Curacao sub-license provides the same rights to perform e-gaming activities in a legitimate manner. The only restriction is that a sub-license does not enable holders to extend further sub-licenses to third parties.
In order to obtain a sub-license, operators must meet certain basic criteria:
- Compliance with Due Diligence and KYC policies
- Full identification of Ultimate Beneficial Owner (UBOs)
- Satisfactory reference on UBOs
- A detailed and transparent description of the games to be offered.
Since it started offering an e-gaming license in 1996, Curacao has established itself as one of the most respectable jurisdictions from which to offer online gaming services. The fact that Curacao has no VAT, a low corporate income tax of only 2%, no tax on bets, a progressive legislative system, political stability, first-rate telecommunications facilities and a well established financial services industry, cumulatively make Curacao an extremely attractive environment for international online gaming companies.
GBO can give you all the assistance necessary to obtain licensing and registration, Curacao company formation, establishing bank accounts, gaming payment solutions, Curacao gaming laws and more. Provided that a gaming company obtains the proper licensing, gaming is a legitimate activity in Curacao and with only a few exceptions, gamblers all over the world can access and play on a Curacao e-gaming website
Who issues gaming licenses for gambling operations?
Although there are no universal standards, in general gaming licenses are issued by a special commission established by the government of the country or territory. It is in their power to issue licenses, regulate online gaming, and rule on which companies are eligible to register or obtain a license based on their compliance with the code of conduct. Compare gaming licenses here
Does a Curacao gaming operation give any benefits inside the European Union?
Because Curacao falls under the jurisdiction of the Kingdom of the Netherlands, it has some special privileges as a quasi-member of the EU. Probably the most important advantage for Curacao lies in the ability to set up banking and payment processing accounts with a holding company based anywhere inside the EU, while the Curacao license is held by a company under Dutch jurisdiction based in Curacao.
What does it mean to apply for online gambling license?
Most countries and territories have made it a requirement that any gambling operation conducted in their jurisdiction must be properly licensed. As well, gamblers are very wary of online operators who cannot show that their casino is licensed, because this is usually a sign that the operation may be highly risky and they could not only lose whatever money they are playing with, but open their credit cards and bank accounts to criminals.
How much is a gaming license application in Illinois?
Illinois has not yet completed the legislation for gaming and media affiliate licensing, so the pricing is not yet finalized. Illinois will require sports betting affiliates to acquire licenses. State law does not specifically state that affiliates need to be licensed but regulations outline five different types of licenses needed for operators, suppliers and other key employees.