Gambling is one of the fast-growing and profitable businesses globally. It is also quite stable in terms of investment, because the number of players grows significantly, as well as the number of gambling establishments (online casinos, lotteries, sports betting, etc.).
An important step in launching a legal and transparent gambling business is obtaining an appropriate licence, which can be quite tricky as gambling is a specific area that is even prohibited in some countries.
Holding a gambling licence will allow you to gain trust from customers and facilitate building your business. You will have the opportunity to open a bank account only when you have a licence to do business. Since running an online casino is a risky business, most banks do not want to put their reputation and licence at risk and prefer not to open accounts for such customers. Other banks and payment systems have stringent requirements to gambling operators, in particular, the recognition of the client’s business by the regulator in the country of registration. In other words, a gambling operator willing to open a bank account must hold a licence in a respective jurisdiction.
Mayon Solutions offers support in obtaining licences in Curasao, Isle of Man, Costa Rica, Spain, and Malta. When choosing a jurisdiction for obtaining a licence, in addition to the procedures and cost consider such factors as the applicable laws regulating gambling business; annual business support cost; licencing requirements; reputation of the jurisdiction; taxation and benefits.
Mayon team has a credible experience in procuring gambling licences. We will help you to find the most suitable jurisdiction for obtaining the licence and guide you through all stages of this process, including company incorporation, submission of documents to the regulator, and opening of a bank account.