Gambling: entertainment for export

Gambling is part of a large entertainment industry, within which there are categories, different types of activities: sports betting, live casino, keno, poker, and so on. This area is diverse and extensive, but it cannot be said that all categories are developing equally quickly and evenly around the world.

There are many varieties of gambling – for example, betting, sweepstakes, lotteries, as well as land-based casinos in special gaming zones. The activity of online casinos is prohibited in some countries of the world, but companies can produce special gaming software, which can then be integrated on the resources of foreign platforms.

What is the online gaming market

In the structure of global gambling, betting takes the first place in terms of leadership and demand – the share of various bets on sports competitions and other generated events reaches 48.7 percent, which in monetary terms is more than 19.5 billion euros in terms of revenue. This sector is occupied by large companies such as William Hill, Bet365, 888 Holdings and others.

In second place is the online casino industry (their share is 26.8 percent and 10.7 billion euros in revenue). Next by a wide margin are lottery draws (8.9 percent), poker (6.2 percent), skill-based entertainment such as quests (5.1 percent) – and finally bingo draws (1.8 percent).

Live Casino: Democratizing Elite Entertainment

Online casino formats have been under active development for the last ten years. Every year we observe a growth trend – both in the number of players and in the number of investments.

Demand, at the same time, creates supply: an increasing number of developer companies represent games in this segment, but you have to try hard to attract partner providers. The expected trend is the use of VR / AR technologies, then there is a forecast for an increase in the quality of content thanks to 5G networks, as well as an increase in the market due to mobile gaming. Of course, the development of gambling in general and live casinos in particular is impossible without the active participation of the legislature and regulatory authorities.

Pleasure under license

For companies that operate worldwide, it is important to carefully study the rules that relate to the regulation of products in each country.

There are many nuances associated with certification, licensing, and they vary from one state to another. Lawyers closely monitor regulatory standards, because reputation is expensive.

Also, an important place in the gambling system is occupied by a license. The process of obtaining it depends on the country in which the company operates. Sometimes obtaining a license can take several months. An online casino gambling license is a document that allows you to run an online gambling business: bingo, all kinds of lotteries, options, an online bookmaker, as well as an online casino. A gambling license is issued by a special regulated body, which develops a set of requirements that must be met by the owner of the gambling business.

Today, online gambling is considered a popular pastime. When planning to start a business as an online casino operator, the costs of starting a business can be quite high, but the business itself can eventually bring in a lot of profit once it gains customer acceptance in the gaming market. Gambling activity, although profitable, is strictly regulated through compliance with the requirements for obtaining gambling licenses.

Most investors, especially newcomers to the gambling business, may not know all the rules that must be followed in order to obtain a gambling license. It is important to take into account that licenses tend to differ depending on the chosen country and different types of gambling. That is why you may need the help of qualified specialists and support in choosing a jurisdiction to launch an online gambling business.

What is a gambling license?

A gambling license is a certificate issued by a licensing authority to create a gambling platform that will offer various types of gambling. You can obtain a gambling license by submitting a request to the local regulatory authorities of your chosen jurisdiction. This permission is the main requirement for the cooperation of the gaming platform with payment service providers and for starting a gambling business.

Online Gambling Regulation Requirements in Different Jurisdictions

The legal framework for the regulation of gambling site management companies varies from country to country, so the process of licensing gambling activities in recognized gambling jurisdictions can itself be cumbersome. In general, the gambling market includes countries that can be divided into the following categories:

-Jurisdictions managing their own online gaming markets.

-Countries that manage their own online gambling markets and have a monopoly.

-Countries where gambling is prohibited.

-Jurisdictions that do not regulate their gambling markets.

In many countries, online gaming platforms have been legalized. If your platform is licensed and game providers are certified by the relevant authorities, you can work in any of these countries. Popular gambling jurisdictions are Curacao, Kahnawake, Malta, Cyprus, UAE, Macau, USA, Gibraltar. The determining factors when choosing a country for registering a company for gambling activities are its reputation, the validity period and price of a license, the timing of consideration of licensing requests.

Terms for obtaining a Gambling license in reputable gambling jurisdictions

In general, obtaining a license to open an online casino is a rather laborious process that requires a responsible approach, certain material and time resources, a clear understanding of the specifics of the legislation of a particular jurisdiction where you plan to obtain a license. In this context, investors will need competent legal support at the stage of obtaining the appropriate permits for online casinos.

Please note that the process of reviewing the application by the regulator, and, accordingly, obtaining a license for an online casino in various jurisdiction