GBO is a leading Curacao gaming service provider attending in conferences world-wide
Read in our Curacao Gaming License guide:
- You are here – How to get an online gaming license?
- Banking account requirements for online gaming businesses
- Curacao Gaming License costs and requirements
- How to set-up a gaming company and open an online casino business
- Online gambling license– How to keep the law and succeed at the same time?
- What licenses are necessary to run a gambling website?
- Online gambling jurisdictions and licensing authorities
- Why USD transfers are decreasing in Europe
- Where can you operate with a Curacao Gaming License?
- Recommended merchant accounts for online gaming businesses
The first step in getting an online gaming license is to choose a jurisdiction where you will apply for your license. Getting your gaming license is one of the most important steps in setting up an online gaming business but there are many more components which you can read about in our guide to starting an online gaming business.
Online gaming businesses can be extremely lucrative but it is also a sector that attracts those with corrupt intentions. Since online gaming became a booming industry it has become fraught with illegal, criminal and unethical elements. To counteract this situation online gaming businesses must now hold a license and meet certain regulations and standards in order to operate.
Find out how we can help you obtain Curacao Gaming License
Why you should get the license from us?
- Hundreds of licenses already obtained for our customers
- Just 2-3 weeks for the complete licensing process.
- Low-cost, smooth and simple process.
- We assist you with opening bank accounts & PSPs
- You need just one license for all gaming activities
The required licenses for starting an internet gambling business depend on several factors:
- Where do you want to establish and license your gambling business – Depending on the jurisdiction where you want to incorporate and license your business you may need one or several licenses. For example, in Malta or Curacao one gambling license covers all forms of online gaming – lottery, bingo, casino, chance, skill, fantasy etc. In other jurisdictions gaming authorities require that for each game you offer on your website you get a separate license. For example, in the UK you may need to get three different licenses for one site.
- Where will your players be from – In some jurisdictions you must get a license from the country where your players reside or from a limited number of other recognized jurisdictions. This may mean applying for a gambling license in several jurisdictions where your players are located. For example, only companies from select jurisdictions can operate gambling websites in the UK and in the US you need to apply for a license from the particular states where your customers reside.
Offshore Gaming Licenses
Registering online gaming businesses in offshore jurisdictions has many advantages. To apply for an online gaming license in an offshore jurisdiction there are specific requirements. Offshore online gaming licenses require many documents and details of the company’s directors and shareholders. In some offshore jurisdictions you may need the documents to be notarized. The documents need to be compiled and submitted to the relevant authorities who then complete due diligence and analyze the submitted documents before accepting or rejecting the application. The application process is complex and time-consuming but it is a vital step in setting up a legal online gaming business. When choosing an offshore jurisdiction for your gaming license you should consider taxation and the cost of licensing.
Why is an online gaming license necessary?
- Being a licensed online gaming business shows players your commitment to a fair gaming policy.
- Indicates transparency and so you have a better reputation in the eyes of the players.
- Shows players the gaming site can be trusted and their private details are secure.
- Promotes customer loyalty.
- Being a legal, licensed online gaming company makes relations with the authorities straightforward.
- Ability to set-up a gaming merchant account.
Licensed online gaming businesses are regularly assessed and regulated. All of the most respected online gaming companies are licensed in one or more jurisdictions. Having a gaming license is important for your company’s standing and for the quality of the service you deliver. A licensed online gaming company is unlikely to act illegally or unethically. Clients know that if they visit a licensed online gaming website they will get good service and be dealing with a gaming business that adheres to accepted standards and can be trusted. This of course contributes to the website’s success, as players feel safe gambling on the site and recommending the site to other.
Gaming Websites Are Responsible for Blocking Players from Countries where Online Gambling is Prohibited
Online gaming companies licensed in respected jurisdictions like the UK or Malta are required to take responsibility for restricting players from countries where online gaming is prohibited. As a licensed gaming company one of the requirements is to uphold the law and deny access to players from countries that do not allow online gambling. The licensing authority and the country where online gambling is prohibited can hold the gaming site liable and impose fines for not complying with this regulation. By not upholding this regulation the company, shareholders and directors are all breaking the law and liable to get their license revoked, especially in Europe and the USA.
Some Gaming Sites Uphold These Restrictions While Others Find a Way Around Them
Licensed gaming businesses can implement IT structures for preventing restricted players from accessing their websites. This is done by blocking specific IPs and locations. Other gambling websites get around these regulations by setting up corporate entities in blacklisted countries like Curacao and targeting players from restricted countries via these Curacao-based companies. It is preferable to uphold the rules and regulations and obtain the necessary licenses in order to run a respected and legal online gambling company.
How much does an online gaming license cost?
The price of an online gaming license from an offshore jurisdiction varies but to give you some idea, Curacao gaming licenses cost 20,000-25,000 Euro. There are several factors that affect the price of an offshore online gaming license: the advisory fee which varies depending on the type and complexity of the business and the liquidity of the company owner’s personal resources.
How hard is it to get a gaming license?
There are more than 50 countries and territories that presently allow companies to operate online gaming activities. The degrees of availability in terms of who can operate the casino websites differ greatly. Some only permit companies from inside the country, some, particularly in the EU Freezone, recognize other jurisdictions, and some are open to all.
Another difference is whether single-license operations covering all possible gaming types are on offer, as in Malta and Curacao. The alternative is to purchase an individual license for each gambling type.
How long does it take to get an online gaming license?
In some quality jurisdictions that are attractive to gamers, like Curacao, it is possible to buy a sub-license from a fully authorized license holder, and be up and running within three weeks with our help. Many other countries make it difficult for foreign entities to purchase a license, with high costs, lengthy reviews of up to a year, and strict rules on corporate finance levels.
How do I check my Curacao gaming license?
In Curacao all e-gaming licensing is controlled by the Curacao Department of Justice. There are two types of licenses – Master license and Sub-license, but only sub-licenses are being issued at present. The Curacao Internet Gaming Association (CIGA) is responsible for issuing gaming sub-licenses to operators; service providers and software professionals in the e-gaming industry under the authority of the Curacao Gaming Commission, which is a highly respected jurisdiction in the e-gaming industry.
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