Online Gambling Sport Licenses from Curacao, Malta, the Isle of Man, Gibraltar: Comparative Characteristics from Online Casino Market
While searching a registration location for the future betting shop you should pay attention not only to the price but also to some other features that could become helpful or, on the contrary, problematic ones. So, here is a detailed list of the states’ pros and cons of getting a license for your betting shop.
Let’s take a look on Gibraltar, Malta, the Isle of Man, and Curacao from another perspective excluding price-wise:
- It is listed among the most stable states to provide licensing services.
- Gives an opportunity to receive one license for several gaming formats.
- The registration obtained can be used by several affiliate companies simultaneously .
- You may receive the approval in just 2 weeks after the request.
- Curacao authorities limit their licensors for some reason, not allowing them to provide their services on the premises of the USA, France, and the Netherlands.
- Maltese registration allows you to advertise your services on the premises of European countries.
- Multiple licenses are permitted to be applied for the period of 5 years.
- Your licenses can be revoked any time, providing you have written approval.
- The business environment is highly secured, meaning you shouldn’t be scared of the hidden pitfalls.
- Separate variants of licenses for various gaming activities that are divided into 4 classes (1. For lotteries as well as skill games; 2. For betting; 3. For peer betting and betting exchanges; 4. For software providers).
- A significant part of your operations should be located directly in the country.
- The authorities aren’t very responsive when it comes to customer support.
- It is situated on the free trade zone territory, meaning the operators aren’t limited by foreign exchange control.
- Provides a mechanism that protects players’ money.
- Most of the software is tested by reliable companies, including Applus, QALab, iTech Labs, and others.
- Authoritative control in favour of granting the license to the betting shop.
- Meticulous risk assessment process to stop illegal money laundering possibilities.
- Can be time-consuming to endure the entire process of registration.
- Excellent money-laundering protection that filters away all the untrustworthy service vendors (The Anti-Money Laundering Code of Practice).
- Highly effective software testing system that only grants access to licensing for the most reliable providers.
- Severe player-protection requirements are established for all operators.
- May be quite challenging to obtain due to a strict regulatory body.
- You must have plenty of experience to be granted access licensing.
- All platforms must be located within the country.
- An extended period of the registration process.
If you are still considering the country for the location of your business, it is also important to remember the whole purpose you are doing this. Of course, nowadays, tons of illegal betting shops try to promote their services without a license. It may seem quite seducing since there is no need to pay all those registration fees as well as adhere to the taxation process. But here is a quick statistics — by the end of 2018, there were only 10% of illegal establishments left since the sphere is progressing, and it is becoming effortless to open your own betting shop.
Obtaining a license gives you an opportunity to:
- start cooperating with international partners;
- access proven banking institutions;
- increase the level of the clients’ loyalty;
- use the services of the world's largest software providers;
- reach the top among the leading online betting shops pretty quickly.
Without permission to operate a betting shop, you won’t be able to launch your gambling website. This does mean that no highly-rated companies will want to cooperate with you and sell you their software.
Some other advantages of having a gambling license are business security as well as high reputation among the visitors. It is impossible to hide your illegal nature, so the prestige of your betting shop is in your hands. All these features are vital not only for the visitors but also for the business partners.
There are some more recommendations that will help you select a province to meet your requirements. Remember, this is a matter of utmost importance, so you should weigh all advantages and possible failures.
Apart from that, we advise you to:
- think of a country that will attract citizens to your online betting shop the most as they must be familiar with the selected location;
- calculate the taxes you will be obliged to pay;
- try to figure out which gambling licenses of which jurisdiction are of the most considerable authority in the world.
The jurisdiction you are going to choose will directly influence the profit you receive from your online betting shop. Take your time and analyze every minor detail since even some of the positive features can be inappropriate for you. You may have a need to consult some real professionals to instruct you fully on all the issues of business legalization. The Online Casino Market studio can do the hardest job so you can start legal and profitable business just in several months. Contact us any time!
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