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Gaming License Cost Across the Globe in 2021

 

18.06.21

         

The online gambling industry is a fast-growing market with an incredibly passionate fan base. Starting an online casino makes a lot of good business sense but it does come with a hefty price tag, depending on where you decide to register and license your company. Let’s take a look at the costs associated with gaming licenses around the world.

Why you need a gaming license

For anyone looking to start a gambling business, a gaming license should be your number one priority. A gaming license is your ticket to legal business operation and not something you can avoid.

Choose licenses in countries that meet your needs. Look into gambling jurisdictions: their requirements, costs, taxation policy and application processing time. Sometimes consulting with a lawyer will help this process go more smoothly.

The major players in the market

Online gambling is a major business worldwide and with that comes a lot of legal legwork that needs to be done to ensure operations don’t get buried under a mountain of red tape and paperwork.

Several of the biggest markets have their own regulated areas specifically designed for their own citizens, and they’ve created some of the biggest markets in the industry. Click here to see some of the best examples of online casinos out there today.

Great Britain

After the implementation of the Gambling (Licensing and Advertising) Act 2014, Great Britain has become the largest regulated online gambling market in the world.

 

 

European Union

In the EU alone, online gambling had a 20.7% share of the total EU gambling market activity, while 79.3% was land-based, including lotteries, casinos and bookmaker shops.

Australia

Although Australia has a thriving gaming and casino community, it’s also extremely regulated when it comes to online gaming. The Interactive Gambling Act of 2001 effectively halted all online casinos that were not based or regulated in Australia.

That means that any Malta or Curacao-based gaming sites are blacklisted in Australia. It’s illegal for AU citizens to play there even though there are casinos and online gaming within its own borders.

This situation was due to online casinos reaching for the ripe Australian market and bypassing the Australian government completely. With this new act, any operators looking to break into the Australian market must go through the local government accreditation and regulation.

United States

For years, the United States was closed to gambling of any kind with the exception of a few special zones like Las Vegas and reservation casinos. In recent years, individual states have passed laws legalizing sports betting. Soon after, bills introducing the legalization of online gaming followed. Not every state is currently open to online gaming, but the trend follows that the US market is primed for a gaming revolution in the upcoming years.

 

 

Licensing Authorities

When starting your online gaming business, you should be aware of the principal licensing authorities worldwide. Here’s a quick rundown of the major players and their associated licensing costs.

Malta Gaming Authority

As a member of the European Union, getting a license in Malta requires quite a few hoops to jump through as well as a lot of cash. The minimum share capital required for a Class 1 license is €100,000 and the process is lengthy, including 5 different stages. Once you’ve obtained the license, the taxes hit. Malta gaming taxes can range from €4,000-7,000 per month.

Offshore Jurisdictions

Each offshore jurisdiction will have its own rules and regulations that you’ll need to take into account. The cost of licensing will vary considerably from place to place as well, so there is no one-size-fits-all solution.

Antigua & Barbuda

These islands do not offer a cheap place to obtain your gaming license. To start, the application fee is $15,000 and the annual gaming license cost for obtaining an interactive gambling license is $100,000.

Curacao

Curacao is one of the least expensive and fastest options available for obtaining a gaming license. The application fee is just about €2,000; the monthly license support fee is €1,500 and most of the paperwork can be done in just 6 weeks.

 

 

Gibraltar

Depending on the structure of your company, a gaming license in Gibraltar can run you anywhere between $30,000 and $70,000 for 5 years with a $2,800 fee to extend.

Isle of Man

This self-governing island off the coast of the UK is a stable and gambling-friendly jurisdiction for your business. The cost of a full license includes an application fee of £5,000 and an annual fee of £35,000. The licensing process takes 10-12 weeks.

Montenegro

Montenegro’s package deal is the fastest and easiest way to get your business properly licensed. The package fee is €25.000 for the first year and €15.000 for each successive year.

Panama

Registering in Panama has the added bonus of no taxes. An online gambling license here costs $40,000 with an additional annual fee of $20,000 which will last you 7 years.

Getting started

Getting an online gaming license can seem complicated until you understand how all of the laws and jurisdictions work. Be sure to research and prepare your paperwork before you apply and speak with a lawyer to answer more detailed questions.

Having a valid gaming license is integral to running an online casino business — your software, finances, and reputation depend on it.