It’s not a secret that the gambling industry in general has always been one of the legally complicated markets. Any new-coming business is going through serious legal complications that definitely can affect the future of the company. Moreover, not only the business itself is interested in the ability to operate legally. Modern customers also prioritize safety, which implies a gambling license from a reliable and trustworthy regulator. That’s why, the license factor should be the main focus for any online gambling company.
The global gambling industry is obviously one of the fastest-growing sectors, especially the recent years. It’s now clear that the market is expected to keep growing and expanding in the future. According to the Statista report, the online gambling market is predicted to reach $107.30 billion in global revenue.
Watching the industry grow, it’s safe to assume that the number of companies will projectively grow as well. So here we provide an ultimate guide on the online gambling license, the whole process of the license issue, and all the complications that may appear. In this article, you will also find answers to such specific questions as – “how much is a gambling license?” and “how to get a gaming license?”
What is an online gambling license?
A gambling license is not a regular, but a very specific document, which the authority issues individually for each business. It is an official permit that allows companies that operate in the gambling business to legally produce and collect commission from activity on the platform.
It’s also important to mention that having multiple licenses from different jurisdictions is a classic strategy in the gambling business. The thing is – the online gambling industry can be very different depending on the region, so to keep the company successful – it’s essential to be able to operate in multiple countries.
Who needs a gambling license?
A business involved in gambling activity is obligated to follow strict restrictions and policies to provide a safe experience for the customers. Staying within the law is the guarantee for a long-operating business that will be able to continue offering your products in the market and grow.
Advantages of having a gambling license
So far, a gambling license is not just an obligatory step in the gambling business process. It’s an opportunity to expand the brand and even benefit from it.
Business legitimacy
If you are planning on building a successful long-living business, a license is your golden ticket. This document proves the trustworthiness of your brand.
Safety for the company and customers
By issuing a license, the regulatory authority takes responsibility for providing safety on the market. It’s literally minimizing the risks of fraud, money laundering, and many other complications that any illegal business faces.
Access to the market
As it was mentioned before, the gambling industry is very complicated and strict when it comes to legislative factors. Any regulator is very carefully monitoring the state of the market and blocking all suspicious activity from unregistered companies.
Ability to partner up
The partnership is the key to expanding the brand and engaging the new audience, which is crucial to growing a business. The lack of a license will never play in your favor when you apply for a partnership with a gaming provider to offer more games to your customers.
Since we have come to the conclusion that a gambling license is a required step while starting a business in this industry, let’s find an answer to questions like How do I get a gambling license and which one?
The best gambling licenses in 2024
So here are the most suitable and flexible licenses from the most trusted regulators worldwide:
Curacao Gambling License
For many years, the Curacao license gambling document has been a top choice for millions of companies worldwide. The driving reason for this particular regulator becoming one of the most popular choices is flexibility. By getting a Curacao B2C license, a gambling business gets permission to operate any gambling activities. Moreover, the whole process of license issuing is time-saving with minimum stress.
Talking about the Curacao gambling license cost, the final price will always include the additional expenses that are also different depending on the process. So here are a few factors you should consider:
- Professional consultation;
- Registration costs;
- Application fee;
- First-year management;
- Additional regulatory requirements;
- Taxation, and much more.
By looking at the leading companies in the modern market, you can see that most of them probably got a gambling license in Curacao, proving that it’s worth all the effort and time.
Gibraltar Gambling License
Through the years, Gibraltar authority has issued not so many licenses, because of the strict “casting” process. It’s not a secret that this regulator is extremely picky, but also trusted and reliable.
To get licensed by the Gibraltar authority, the company must be very credible. Among the companies allowed to get a license are online casino operators, online poker brands, sports betting platforms, and many more. Gibraltar’s online gambling license cost starts at £100.000. It also requires from 2 to 6 months of processing the application and is valid for 5 years.
Malta gambling License
Another popular choice among the iGaming brands nowadays is the Malta gambling license. It is well known that this particular license is considered a gold standard. For years, the authority has been recommending itself as the solid and trustworthy regulator that provides a secure business environment.
It may take from 3 to 6 months to obtain the Malta license, while the validation period of the license is 10 years. The price of the document also depends on the company individually. However, the minimum cost starts at €36.000.
How to get a gambling license?
There is no specific answer to the question “How do you get a gambling license?” The application process, terms, and costs depend on the regulator you chose for getting licensed.
