How To Obtain An Online Gambling License
The following is a list of Automatic Disqualifiers which prevent individuals from receiving a gaming license. If you answer YES to any of these questions, by Colorado law you cannot obtain or hold a Colorado gaming license. Have you ever been convicted of any gambling-related felony at any time? First, buy a casino. Preferably in Nevada or Atlantic City. It would be good to get one with a hotel attached so you're not completely reliant on gambling revenues whilst you move on to the next stage of the process. To be cleared to. The following article provides an in-depth look at exactly how online gambling sites are regulated. It explains the role of licensing authorities, along with the criteria that typically has to be met by individuals or companies wishing to obtain a license for operating a gambling site. The following article provides an in-depth look at exactly how online gambling sites are regulated. It explains the role of licensing authorities, along with the criteria that typically has to be met by individuals or companies wishing to obtain a license for operating a gambling site. To operate an online casino, you would have to obtain an online gambling license which costs $18,000 for 1 year, and $10,000 per year for extending the license. The annual license expires on March 31, despite the issue date. The Belize jurisdiction has set up strict requirements for operators, including.
In September 2018, the Greek Ministry of Finance announced the development of an amendment to this law, which will expand the capabilities of online casinos. After multiple public consultations, the amendment was submitted to the European Commission for approval and ratification. The new rules are expected to come into force in August/September 2019.
As of today, it is almost impossible to obtain an online gambling license in Greece. Since 2011, not a single company has done it—all of the above-mentioned 24 operators had been active in the Greek market before 2011. If this amendment is adopted (and experts are confident in that), then in the very near future the Greek market will be open for foreign companies which have fulfilled a number of conditions.
License cost
According to the amendment, there will be two types of licenses:
- for online gambling, including sports betting and online casino games;
- for other gambling activities on the Internet.
Licenses will be issued for a 5-year period. In order to extend it, licensees must inform about their intentions not later than a year before its expiry date. In addition, one license can be held by only one legal entity—transferring rights and granting sublicenses are not allowed. According to the new rules, operators must submit an application to the Hellenic Gaming Commission, provide the required documents and pay a €10,000 fee. Upon the Commission’s approval, they must also pay €4 million into the budget.
Other requirements for obtaining a license
- operators registered outside Greece must have their servers located in Greece;
- executive managers must not have a criminal record;
- an applicant is required to pay €500,000 as a security deposit to any banking institution in Greece or the European Union.
Gambling License Pa
Gambling taxation
At the time of writing, the following taxation scheme applies:
- operators pay 35% of their gross gaming revenue (the amount Greek players deposited minus the amount they won);
- gamblers pay player withholding tax calculated on a progressive scale (first 100 Euros won by a player are exempt from taxation)
Upon the adoption of the amendment to the online gambling law, our experts will familiarize themselves with the requirements of the Greek jurisdiction and will assist you in obtaining a license.
Gambling license in South Africa
Gambling within South Africa was largely restricted for many years, dating back to around 1673. Almost all forms of gambling were officially banned in 1965 with the passing of the Gambling Act. Horse racing, which was still considered a sport for many years, was however still legal, and the only place where people could place bets. This ban on gambling meant many illegal casinos began to pop up. By 1995 there were an estimated 2000 illegal casinos within South Africa. Luckily, with the new democratic government in 1994, the ban on gambling was lifted with the National Gambling Act. By 1996 the first legally licensed casinos were established and a single national lottery was launched. The National Gambling Act was the start of a diverse gambling community within South Africa.
Gambling and licensing
Gambling within SA is highly regulated and is done so by the National Gambling Board as well as the gambling board of each individual province.
The entire process of applying for a license is relatively straightforward. You can apply for a national or provincial license. A national license is generally for those applying as a manufacturer, supplier, maintenance supplier, or for those wanting to work within the gambling industry. A provincial license is simply valid within the single province in which it was issued and is better suited to and casinos or similar.
Both licenses may be applied for and issued through the provincial gambling boards and can be done by visiting the appropriate website (as listed below) and downloading the forms. The websites are quite easy to navigate and the entire application process will take anywhere between three months to a year.
Cost of a South African Gambling License
The cost of applications varies from province to province. Here are two examples:
Western Cape
Casino operator new license application fee: R 479 300.00
Casino annual licensing fee: R 239 650.00
Gambling employee fee (new application and yearly fee): R129
Bookmaker new license application fee: R11 977
Bookmaker annual licensing fee: R2403
North West Province
Casino operator new license application fee: R230 000
Casino annual licensing fee: R 100 000
Casino employee licence fee: R500
Bookmaker new license application fee: R6000
Bookmaker annual licensing fee: R5000
Other considerations
A big part of obtaining a South African gambling license is the probity process. This, in short is a KYC process on steroids and will take up the majority of your time, effort, energy and money. Legal fees to complete this process can amount to hundreds of thousands of rands. While we understand the reason for the process, when compared to other jurisdictions such as the UK, Malta and Curacao, the same process is less bureaucratic and less authoritarian in their approach which is the reason why they have a much more vibrant and active gaming industry.
Maintaining Your License
Licenses are generally valid for different time periods across the different provinces. To maintain your license you will need to pay a set yearly fee, as given in the above examples. Likewise if you wish to work at another casino or to move the premises of your existing casino, then you will need to apply for such. Employee licenses are linked to the position which they hold with a specific operator. Every Gambling machine or device must also be registered in order to be considered legal.
National licensees will need to comply with the applicable provincial law within whichever provinces they are conducting business. Provincial licensees will obviously be expected to do the same.
Failure to pay taxes, levies or fees will jeopardise your license as will non-compliance with any of the laws set out in the National Gambling Act. A person convicted of an offence in terms of the National Gambling Act is ‘liable to a fine not exceeding R10 000 000, or to imprisonment for a period not exceeding 10 years, or to both a fine and such imprisonment.
If a licensee is in breach of a condition of a license they are ‘liable to an administrative penalty not exceeding 10% of the annual turnover of the licensee.
You may surrender your license by choice via written notification to the provincial licensing authority.
Reposting Requirements
Suspicious or illegal activity can be reported directly to the respective provincial gambling boards or the National Gambling Board itself.
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Anti-money Laundering
South Africa has three acts which relate to Anti-money laundering: the Prevention of Organised Crime Act (POCA), Financial Intelligence Centre Act (FICA), and The Protection of Constitutional Democracy Against Terrorism and Related Activities Act (POCDATARA).
The main duties of accountable institutions include:
- Identifying and also verifying clients
- Reporting any suspicious transactions
- Keeping records
- Training staff
- Reporting cash transactions over the prescribed limit
- In conclusion formulating and implementing internal rules
Each legal gambling institution must ensure that all the necessary policies, procedures and systems are in place whilst ensuring full compliance with the FICA Act.
South Africa has a Financial Intelligence Centre (FIC) which is run under the FICA Act. There is also a Money Laundering Advisory Council who works alongside FIC and advises the Minister of Finance. All information regarding money laundering activities must be reported to FIC who will then hand over to the appropriate authorities.
TAX
Corporate tax in South Africa is set at a flat rate of 28% for all companies.
Although a withholding tax on winnings has been proposed since 2011, nothing has been set in stone.
Software Testing and Online Gambling
Any machine or device which needs calibration or certification must be tested by a licensed testing agent. The agent will need to make sure that the machine/device is compliant with the applicable standard. They record all test results and issue a report. The South African Bureau of Standards must then analyse the results and if found compliant they issue a letter of certification.
Online gambling is still illegal within South Africa except for online betting via a licensed South African bookmaker. Four arrows casino location longmire. Both the operation and advertisement of online casinos within South Africa are illegal acts.
Contact the South African Gambling Commission
For more information:
1. Gauteng:
www.ggb.org.za
2. Western Cape:
www.wcgrb.co.za
3. Eastern Cape:
www.ecgbb.co.za
4. Free State:
www.gla.fs.gov.za
5. Kwazulu Natal:
www.kzngambling.co.za
6. Mpumalanga:
www.mgb.org.za
7. North West:
www.nwgb.co.za
8. Limpopo:
www.lgb.org.za
Gambling License Florida
9. Northern Cape:
www.ncgb.co.za
Alternative to a South African Gambling License
Obtain License To Perform Marriage
A curacao based gambling license is perfect for your business if you wish to offer services abroad. The license is regulated by the Governmnet of Curacao and is accepted by all banks and payment service providers.
We work with the local authority assisting our clients with their gambling license needs, get in touch on Skype, WhatsApp or Email for further information.