How to Start an Online Gambling Business?

online, some chipsThe online gambling industry is an ever-expanding one. There are new online casinos, bookies, and poker rooms opening every week, all of them competing for their fair share of the gaming audience. Regarded as one of the most lucrative internet businesses, it is no wonder that there is also a growing num ber of businesses and individuals looking to get involved on the other side of things.

If you’ve been considering starting an online gambling business, this article will help you with some basic ideas and concepts you need to be aware of before you take the plunge. Although creating a gambling empire is a rather complex task that takes a lot of time and effort, we’ll provide you with some fundamentals to at least get you started on your path.

Pick Your Niche & Software Provider

The very first thing you’ll want to do before kicking things off is decide what area of iGaming you’re interested in. There are two main factors to take into consideration here.

The first one is your personal experience. If you’re someone with an online casino background, you’ll probably have a better idea on what to do and how to set things right to attract customers with an online casino site than with a betting site. Your and your team’s knowledge and experience are pivotal here.

However, you’ll also need to research the market to see if your desired niche is a viable option at this point in time and under what circumstances. For example, if you want to get involved with online poker, make sure the market isn’t oversaturated and that you’re able to offer something that’s not already out there.

Once you know what you want to do, you’ll need a reliable platform that will let you do it. This means finding a good software solution for your plans. Once again, there are multiple things to consider here, but some of the more important ones are:

  • The management system
  • Banking options
  • The selection of games already on offer (for casinos)
  • Availability of betting markets (for betting sties)
  • Customer support (does it come with the software?)

gambling license, cardsDoing Things by the Book: Obtaining a Gambling License

Once you have your idea and software all sorted out, it is time to get legal. If you want to launch a proper online gambling business, you will need a gambling license issued by a reputable organization. This doesn’t just serve to cover your business but it also stands as a proof to your potential players that your new gaming operation is completely legit and can be trusted.

Obtaining a license is another complex procedure that highly depends on where you intend to operate. For international sites, there are several providers that issue licenses on the global level, such as Malta Gaming Commission, Alderney Gambling Commission, Isle of Man, Curacao, and Gibraltar.

However, these days, if you intend to operate in certain highly attractive European markets, you’ll also need local licenses issued by countries. Some of the most prominent markets where you’ll need an additional license to offer your services include the UK, Italy, France, and Spain.

Every regulator has its own licensing procedure, which can take several months to complete, so make sure to count with this. Regardless of the procedure, you’ll need to provide all necessary evidence along the road that your business is on the up and up, that you are financially stable, and all your games are fair and properly licensed.

Alternatively, you can find a software provider that takes care of all these things for you. They will ask you to provide them with the required information and they’ll use their experience and know-how to get you a license in the shortest time possible.

How to Start an Online Gambling Business?Get into the Gambling Arena

Once you have all of the above sorted out, you are ready to officially launch your business. This isn’t to say you should do it immediately, because there are still things you need to attend to before your site goes live.

First and foremost, consider your offer of games and figure out if you need to expand it to be attractive to the existing player pool. Online gambling is a highly competitive business where nobody will cut you any slacks, so you need to make sure you have what players want.

Furthermore, you need to come up with an effective marketing strategy and bonuses and promotions that will pique imaginations of your potential players. This is one area where you can really stand out most because you just need some really good and inventive ideas. Not to say that this is easy, but unlike the rest of it, you can actually do it without spending too much money if you know what you want to achieve.

That’s pretty much it! Once your site goes live, it will be up to you to attract players and keep them coming back for more. Strategies on how to do it go beyond the scope of this particular article but you should at least have some sort of an idea what you’ll be facing if you decide to go down the path of starting your own online gambling business.

Tips for Joining Online Gambling and Online Casinos

magical gamblersThere are so many ways that you can get entertained while you are online. Online gambling is one of the best, as it is possible to control how much fun that you can have and win money at the same time. If you have never tried online gambling through a casino, you may be wondering how to get started. Here are some tips that will help you out.

  • Do some research and make sure that you have chosen an online casino that is reputable. This means that you should go through reviews to ensure that it is not blacklisted and has happy winners that have received their pay-outs.
  • Next, look for an online casino that has excellent wagering terms. This means that before you settle on any promotion, you need to read the fine print. Wagering terms of 30x or below means that you will be able to withdraw your winnings faster.
  • You will find a place to log in or sign up to the casino. Signing up is a simple process that usually entails you giving some personal details to get started. You could choose to simply register, which means to open an account. There are casinos that will give you a bonus just for that. If you want to withdraw real money however, you will need to deposit money into the casino account. Then, your winnings can be quickly converted into cash.
  • Remember to watch out for the promotions that are available on an online casino. Promotions will give you a leg up, so that you can spend more time mastering how the games work. As a beginner, this time will be invaluable and go a long way to helping build up your account balance.
  • Once you have opened your account, deposit into it, and try and deposit the maximum so that you can benefit from all that a bonus has to offer. You can enjoy more and more on a good casino if you spend time and money on it. So, keep a look out for a gambling site that also includes a VIP loyalty program. The benefits will help increase your wins.

There are some basics that you need to have in place if you want to get the most out of your online casino gaming experience. The obvious, but sometimes ignored ones, you need to have valid ID, which means that you should be over 18 years of age. To retrieve your winnings, you will have to confirm your identity.
In addition, you need to feel free to ask for help when you need it. On these online casino gaming sites, there are often numerous options that you can explore to get the help that you want. You can start off with the support team on live chat or choose to share some documents on email. You could also call them up on the phone. If you have a basic enquiry, the FAQ section will come in handy.

More useful tips can be found here.

Curacao Gaming License: An Overview

Curacao is an island that belongs to the Lesser Antilles group, located in the southern Caribbean Sea. It is a self-governing state within the Kingdom of the Netherlands, known for its simple and attractive gambling laws. Gaming licenses issued in Curacao are the choice of many betting platforms and online casinos that operate on CIS, Middle East, Scandinavian, and EU gaming markets.

Why Get a Gaming License?

Gaming License is a permission issued by a special committee. It proves that the business that holds it is legitimate and can guarantee the players payouts and winnings. All types of gambling activities, such as poker, lottery, roulette, sports betting, slots, etc. require a gaming license.
Besides being a proof of a legal and trustworthy business, gambling license allows online casinos to buy software from leading providers and customize payment systems that are reliable and let the players place bets and receive winnings in multiple ways. In general, a gaming license obtained from a relevant jurisdiction lets a company build trust with its players, who, naturally, prefer not to deposit money with non-licensed casinos that do not guarantee that their winnings will be paid in time and in full.

The difficulty with getting a gaming license is that, in different countries, gaming business is treated in very different ways. There is no universal gaming law that is by default applicable in every part of the world, and the terms and costs of obtaining a license can vary a great deal. Currently, Curacao is considered one of the most reliable licensing options, with its simple procedure, attractive benefits, and comparatively small fees.

Introduction to Curacao License

Curacao was among the first to offer gaming licenses to international businesses. Since 1996, these licenses have been acquired by some of the world’s leading providers of online gaming services.

Because of the island’s unique status as a country within the Kingdom of the Netherlands, it can take advantage of the regulatory benefits of the European Union without actually being a part of it. What’s more, Curacao is not subject to high European tax rates. Curacao jurisdiction is accepted by such international organizations as Financial Action Task Force (FATF) and Organization for Economic Co-operation and Development (OECD).

Curacao Gaming license covers all forms of digital gaming products and services, including lotteries, betting sites, bingo, online casinos, etc., so there is no need to apply for separate licenses.

The following are the types of products and services that can be offered under this license:

  • Affiliate services
  • Bingo
  • Fantasy Football or similar games
  • Live dealing
  • Lotteries
  • Marketing services
  • Mobile games and betting
  • Network gaming
  • Online casino games (roulette, blackjack, slots, etc.)
  • Parimutuel and pool betting
  • Peer-to-peer games (poker, backgammon, mah-jongg, etc.)
  • Skins
  • Sports betting
  • Various trading activities

Advantages of Curacao License

Gaming operators from all over the world choose this license because of a quick and relatively inexpensive procedure: any company which offers legitimate gaming services and has the money to pay the fee is likely to receive approval.

The “master” license cost includes a one-time fee of €1500, and an established monthly fee paid for the first two years. After this time period, the fee can be negotiated with Curacao government. The operator holding the master license can lease out sub-licenses that come with the same benefits as the master license. These sub-licenses can be issued to anyone, but the holder of the master license bears responsibility for all activities of the holders of sub-licenses.

Curacao Gaming License offers its holders multiple benefits:

  • Saving money: This license is the least expensive one among the Big 3 gaming licensing options;
  • Saving time: the licensing procedure normally takes no more than two weeks;
  • Tax benefits: entrepreneurs holding this license only need to pay a 2% tax on net profit;
  • Low annual fees and almost no paperwork;
  • All types of e-gaming products and services (betting sites, web casinos, poker, bingo, etc.) are covered with one license;
  • Innovative IT infrastructure that has the gaming site running with no downtime;
  • Up-to-date, fair and compliant regulations.

Curacao E-Zones

E-Zones are geographical areas with special tax incentives that are only available for the limited liability companies whose admittance to the area has been approves by the local government. The main advantage of an E-Zone is that, apart from the 2% tax on net profit, there is no turnover tax, import duties, or, in fact, any other taxes.

To enter the E-Zone, a company needs to export goods or perform services for the customers outside Curacao, and is expected to contribute to Curacao’s economic expansion. Among others, civil law notaries, registered accountants, tax advisors, lawyers, and companies that offer services of similar kind are excluded from the E-Zone tax regime.

Although virtually any company from anywhere in the world can obtain a Curacao license, it is highly recommended to establish a company in the local E-Zone to get the maximum advantage.

E-Zone companies that hold Curacao License receive the following benefits:

  • Dividend withdrawals without restrictions;
  • No VAT, import duties, or sales tax;
  • For companies retaining annual compliance, 2% corporation tax;
  • 0% tax on gross bets.

The basic requirements for an E-Zone company are as follows:

  • The company needs to have a bank account in Curacao;
  • Company’s administration needs to be executed in the E-Zone, exclusively;
  • The company’s goods and services must be offers in or from the E-Zone;
  • The company must appoint local director(s);
  • The company’s warehouses, offices, etc. must operate during the work hours established by the E-Zone regulations;
  • The staff employed by the company must perform its duties exclusively for this company;
  • Only a negligible part of the operations can be carried out by the people not employed by an E-Zone company.

Getting the Curacao License

Online gaming sector in Curacao is regulated by E-Gaming, the License and Information Provider (IP) for Curacao-based web casinos.

The application process for Curacao e-gaming license consists of four steps.

Step 1: Pre-approval
To apply for the eGaming and IP License, a company first needs to get pre-approval through Empire, a corporate service provider. Pre-approval process requires submitting basic information about the applicant and a non-refundable fee. Normally, this preliminary approval is granted within 24 hours.

Step 2: Application
Once the pre-approval has been granted, the company submits an application form, the supporting documents, and the required fee to Curacao eGaming. There is a number of one-time fees and deposits that the approved applicants need to pay.
The process of evaluation begins once the application fee has been received.

Step 3: Evaluation
If the application and other required documents are incomplete or fail to comply with the requirements, Curacao eGaming gives the applicant a checklist of the non-compliant items. The license is issued once all the requirements have been fulfilled.

Step 4: Starting the Operations
If all the previous stages have been completed successfully, the gaming company can begin its operations within 60 days. If violations or fake license claims occur, Curacao e-gaming authority moves to terminate such operations immediately.

In a Nutshell

With its attractive tax rate and a fast and easy licensing process, Curacao is an excellent choice for a web gaming operator, especially the one that wants to offer multiple games with a single license. A group of experts who possess the relevant on-the-ground experience guides the applicant through all stages ensuring a smooth flow. There are clear written agreements outlining the charges and refund policy.