The online gaming industry has become increasingly popular and successful in the modern day. With hundreds of online gaming sites now accessible. The need for regulation is now more common to limit the risks involved with online gambling. The activities of online casinos are regulated by gambling licensing authorities. Currently, gambling businesses require to be licensed because:
- Gambling licenses enhance the reputation of the company as well as guarantee reliability of by instilling confidence when clients play in licensed gaming sites.
- Ease of opening bank accounts and sourcing payment service providers who now insist on dealing with licensed entities.
- In most jurisdictions operating a gambling business without a gambling license is illegal.
All online casinos are now required to carry a gaming license within the jurisdiction of their business activity. The level of regulation differs in every jurisdiction. Valsen has the experience of dealing with all popular gaming regulatory authorities and setting up gaming businesses across the world.
Some of the things we take into consideration before advising on the best jurisdiction for your business are:
- Players’ residence – some online gaming operators are only allowed to market their services to residents of the jurisdiction from which they have obtained a license. If you plan to market your services as an online casino to residents of another country, then you must ensure that the gaming license you obtain, allows you to service players from that particular country or territory.
- Costs – in addition to licensing fees, there are yearly and monthly maintenance fees, costs involved in keeping a local office, professional staff, back office and other corporate costs. We work around your budget to find the perfect fit.
- Company’s branding – a certain image is attached to it a company’s residence. We recommend the most reputable jurisdictions to license that would enhance your company’s brand.
Get in touch with Valsen to facilitate multi-jurisdictional licensing and structuring of your gaming and gambling businesses.