The gambling industry has been constantly growing and developing with time. Regardless of the situation in the world and economic crises, the iGaming market shows better and better income statistics, turning out to be one of the most promising business opportunities for startups and existing companies. To be able to work legally, an operator has to apply for obtaining a gaming license. Compliance with responsible gaming values is proved by working under one or several jurisdictions.
Why your online casino requires a license
Let’s get a bit closer to the reasons why you should obtain a gaming license as a gambling market business representative. First and foremost, receiving this kind of permit secures your company from money laundering and fraud attempts. Besides, it helps to build trust of the customers and attract new players. The company also gets an opportunity of opening bank accounts and starting cooperation with different market representatives and payment systems operators. So, the influence on the reputation of the online casino is undeniably positive.
Step-by-step guide to obtaining a gambling license
LicensingAid team has been working in the online casino industry for many years, assisting businesses in different areas. Let’s get down to the practical side of the question of the license obtaining and the criteria of the choice of jurisdiction.
Document list for a casino license application
Depending on the country, each jurisdiction creates its own set of rules and regulations. They have unique experience and know how to check online casino license applicants in a way corresponding to responsible gaming standards. It means that the list of the documents required differs due to specific authorities. Nevertheless, the general necessary information remains the same:
- The Police Clearance Certificate. No criminal record should be present.
- ID copies. The key team members and shareholders must apply their passport copies with essential information.
- Bank statements. The applicant should show his money flow by providing information from the bank.
- Business plan. Your financial plans and expectations must be defined.
- Game content description. Specification about what kind of activities you are going to provide on your platform is required too.
The background check is a must in any case. So be sure the prepared documents meet the criteria required. Otherwise the review will take longer and you will have to solve emerging issues. To avoid any troubles, please contact our experts for tailor-made solutions picked especially for your company.
The jurisdiction choice for your online casino license
The choice of a jurisdiction is a very responsible process. The license you are going to get will be a measurement of your reputation. Besides, it must align with your business goals, estimated budget and expected receival time. Some jurisdictions suit startups better, while other ones help to strengthen the reputation of the operators that have been already present in the gambling market.
Curaçao: fast and affordable licensing
It is one of the most popular choices due to its long-lasting presence in the market. The Curacao license has been granted to operators for more than 20 years. There were some regulations’ changes due to White Label modifications. Nowadays a company applying for a license must be located in Curacao with at least four locals hired to work in it. The overall obtaining cost raised after the changes. The Curacao gaming license still possesses a high trust level of the customers. Besides, it is a one-fits-all kind of license. When an operator receives it, it’s possible to add any new games to the platform without additional permits (but the changes are to be reported to the regulator regardless). The review of the Curacao online casino license takes around six weeks if everything goes well.
Malta: trusted worldwide
Malta authorities issue licenses for B2B and B2C companies. So each company type has a choice. B2C online casino license Malta is represented in four options. The distinguishing feature of the Malta gambling license is high prestige and reliability. It is considered to be one of the most stable permits in the world. The experienced customers see it as a proof of the operator’s transparency and trustworthiness. Starting from 2022, the Maltese authorities added extra checks to make sure there is no trace of funds from Russia.
United Kingdom: high standard for credibility
The United Kingdom reviews applications from both – online and offline casinos. The companies which conducted a cross-licensing agreement with the British authorities can obtain this kind of a license. Nevertheless, you should take into consideration that this is not a cheap option to choose. The application of the online casino license UK issues starts at around £25,000. It may reach high numbers depending on your company type and needs.
Alderney and Gibraltar: special options
The Alderney online casino license is a so-called niche choice. The AGCC (Alderney Gaming Commission) is well-known in the gambling market being one of the most popular choices. It grants operators with the Licences of 1 and 2 categories, provisional permit and certificates of compliance. The review period lasts around one month.
The Gibraltar license is highly trusted worldwide. This gaming license is given to experienced operators that have proved their responsible business performance in other jurisdictions already. The online casino license cost is different for B2B and B2C companies. The B2C license is way more expensive.
Emerging options (Anjouan, Vanuatu)
Anjouan is gaining popularity due to its affordability and speed of a review procedure. It is an especially good solution for startups as it covers all kinds of gambling activities. There is no need to receive an extra permit if you add a gaming option to your platform. This is a crucial point to developing companies. Alongside with a highly competitive price this factor brought success to the Anjouan iGaming regulator.
The Vanuatu gaming authority is known for its strong reputation. Local and international companies are welcome to join the gambling community. The obtaining process is quite simple.
Comparison of the gambling jurisdictions
As soon as every jurisdiction offers something unique, operators should analyze them thoroughly to understand all the details. Let us compare some key aspects of all the licensing types mentioned above so you could possess a general awareness on the topic:
| Jurisdiction | Pros | Cons |
| Curaçao | A couple of decades in the gambling market; recognized worldwide; great infrastructure. | Increased price after the White Label updates. |
| Malta | Is valid for 10 years; strong security of the customers; high AML compliance; stability in the auditing. | Long and complicated review procedure. |
| United Kingdom | Applicable for both – online and offline casinos; credibility and international recognition. | It is considered to be expensive; strict rules. |
| Alderney and Gibraltar | Competitive taxation system; high recognition; solid regulations. | High cost; time-consuming review process. |
| Anjouan, Vanuatu | Cost-effective choice; fast to obtain; zero taxes; crypto-friendly; minimum entry problems (good for startups). | The recognition of providers and banks is not strong enough yet, as the jurisdictions are just emerging. |
As we can see from the table, some kinds of permits suit better for existing companies, other ones – would be a smart choice for startups which are only entering the gambling market and require cheap and fast solutions. The assistance of our team will be a crucial solution tool for your company offering services that will help you to choose reasonably and estimate accurately what you need for a proper application and business performance in the iGaming market.
How does LicensingAid help in getting a license?
LicensingAid has been assisting gambling companies for many years. Our specialists create tailor-made solutions depending on the company’s needs and expectations. Not only do we help with getting a gaming license, but we also assist in trademark registration and your online gaming platform design. Besides, we help with opening a company in required jurisdiction and starting a merchant account, company’s bank account.
Taking into consideration our complex approach, you can be sure of the team competence and a great result. We will help you to prepare necessary documents in a short time and save your expenses by means of avoiding emerging problems during the review period and choosing the most suitable jurisdiction for your business success. Other than that, after a thorough monitoring we also check whether everything you do is in compliance with the AML regulations.
