License acquisition services from LicensingAid
What is a gambling license, and why do operators need one? A gambling or gaming license is a document that enables the holder to legally organize a casino, sportsbook, lottery, or other kind of gambling activity.
With a license, iGaming platform operators can open a bank and a merchant account, cooperate with leading software and game content developers, and instantly demonstrate their legitimacy to players.
LicensingAid offers licensing acquisition services for new online casino or sportsbook operators and established brands looking to expand into new markets. Read below to find out more about how, why, and where LicensingAid can help you get the license your iGaming business needs.
How do you obtain a gambling license?
Every licensing jurisdiction has its own requirements.
However, while the application process varies in terms of time frame, fees, and documents required, there are a few documents that almost all regulators require.
Here’s an list of the most common materials you’d need to apply for a gaming license:
- Business plan.
- Bank account.
- Completed license application.
- Criminal background check.
- Proof of sufficient funds.
- Payment of license fees.
- Servers located in the licensing jurisdiction.
- Technical specifications about the platform and its content.
Before helping you prepare the package of required documents, LicensingAid will walk you through every step of choosing a licensing jurisdiction. Our license acquisition services include:
- Analyzing your goals and resources to choose a jurisdiction.
- Creating a detailed license acquisition plan.
- Preparing all required documents.
- Applying for the license.
Gambling licenses by country
There are a number of jurisdictions around the world that offer licensing to online casinos and sportsbooks.
When choosing a jurisdiction, you’ll look at the requirements and terms of obtaining a license, licensing fees, taxes and interest on profit, and reputation of the jurisdiction, as well as your own target market.
Here are a few of the most well-known options:
The Caribbean island of Curaçao, a constituent country of the Netherlands, has long been one of iGaming’s most popular choices for iGaming licensing. The island has a lot to offer: no gaming tax, a fast licensing process, and a corporate income tax of only 2%.
Malta is one of iGaming’s most-respected regulators. Fees are higher than in Curaçao, but the Malta Gaming Authority’s reputation is practically unparalleled.
The Isle of Man is another prestigious destination for iGaming companies. Casino operators are drawn to the island’s low tax rate (just 1.5%) and streamlined licensing system (one license covers all types of gaming).
The UK is one of iGaming’s biggest and most well-regulated markets. The stability offered by the United Kingdom Gambling Commission (UKGC) is appealing, though tax rates are higher than in offshore jurisdictions — 15%-20% of income.
Another low-tax option is Gibraltar. The business-friendly local government offers a low tax rate — 1% of gross profit — but does expect applicants to already hold a license from another regulator, meaning it’s not the first choice for newcomers.
The gaming license in Alderney has a fee of £17,500 for the first year, though this does rise in accordance with the company’s gross gambling yield. However, there are no gaming duties or taxes, and no corporate income tax.
The Mohawk Territory of Kahnawake, near Quebec, is a popular and long-running licensing authority. While the application fee is $35,000 — excluding other required fees — like many other jurisdictions, there’s no gaming or corporate income tax.
New operators who are very interested in saving money might head to Belize, which isn’t as well-known as some of the other jurisdictions on this list but costs much less. However, Belize’s Gaming Control Board does request a significant deposit to cover player winnings.
To find out which license best suits your goals and resources, get in touch with us for a free consultation.