How to license a Cryptocurrency casino

If you are involved with cryptocurrency casinos, chances are, you have wondered How to license a Cryptocurrency casino?

About cryptocurrency

The creation of cryptocurrency and digital currency has revolutionised online gambling. The first digital currency was introduced in 2008 and today there are over 1500 different crypto currencies and growing. Bitcoin is the most popular and the first. There are a number of online casinos that accept digital currency, therefore knowing what qualities to expect from good Crypto Casino’s is important.

Here are a few qualities to consider:

  1. Fast deposits and withdrawal: All crypto currencies boast a fast deposit and withdrawal speed, these transactions should be done in a few minutes.
  2. Transaction fees: These are much smaller when depositing and withdrawing cryptocurrency.
  3. Anonymity: Usually only your email address is required. This anonymity also allows users, located in countries where online gambling is forbidden, to access and play at online casinos.
  4. Verifiable game results: Via provably fair protocols – numerous crypto casinos offer a provably fair feature, which users can utilize in order to verify whether their roll is authentic or has been tampered with. This provably fair system guarantees fairness of games. The transparency of blockchain can also be used to further prove fairness.
  5. Higher pay outs: Any high quality crypto casino will offer high pay outs across all games.
  6. Lucrative Offers: Be on the lookout for welcome bonuses and in-house game promotions. Loyal Bitcoin gamers may also qualify for exclusive VIP reward systems where they are handsomely rewarded.

Cryptocurrency casino checklist

  1. Proper licensing from a recognized gaming jurisdiction.
  2. 24 hour customer support in case of any queries.

Are cryptocurrency casinos legal?

The big question on many minds – is cryptocurrency gambling legal? The short answer is currently, yes. As it isn’t an official currency, ‘playing’ with it doesn’t differ much from playing with any other virtual currency. In addition, if you have acquired your cryptocurrency anonymously then it becomes almost impossible to ban, restrict, or regulate. We wrote an article on Bitcoin casino licensing which should give you some more insight.

How to license a cryptocurrency casino?

A cryptocurrency casino is licensed no differently than a normal casino. There are certain restrictions that may be put in place, for instance, Curacao licensed casinos can not act as a type of exchange or financial services entity and for this reason, if they accept Bitcoin, they must not convert this into any other currency. This can easily be circumvented by using a third party PSP who does the exchange for you.

Why license your cryptocurrency venture?

We speak with prospective casino owners on a day to day basis and it is a common question as to the point of licensing a pure crypto casino. One of the many reasons is accountability. A licensed casino is required to adhere to certain rules and regulations as enforced by the jurisdiction in which it works. This may be to ensure that games are fair or to have enough funds to payout players. Another reason is that by licensing under a jurisdiction, you are protected from third party law suits who may claim (right or wrong) that you are operating your cryptocurrency illegally.

How to get started?

When considering licensing your venture you may be interested in obtaining either a Malta gambling license or a Curacao gambling license. You also have an option to setup a white label type solution as well which is affordable.

GamblingTec.com can power your cryptocurrency casino

While regulations in most jurisdictions are still green, a time will come when games of skill will need to be regulated. In cases where they do, you are free to ingerate your games into the GamblingTec.com platform which operates off a gambling license.

For more information: licensing for game developers

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Optima sports betting software

Optima provide interactive sports betting and e-gaming software. With offices in Spain, Serbia and the United Kingdom, their global reach enables them to provide the best betting and e-gaming solution on the market. Their mission is to provide, maintain and support the most stable, efficient and modular software suite for private and public use on a global scale. Optima Gaming deliver dynamic and agile service at competitive prices.

Optima Gaming are a licensed supplier of turnkey sports betting and gaming solutions, and have full intellectual property rights to the GTECH MarginMaker™. Optima’s management invest in efficient and solid technology that enable them to remain at the forefront of the industry. They pride themselves on being honest, straightforward and honest, ensuring that their clients receive optimum service.

MarginMaker™

MarginMaker™ is Optima’s suite of betting engines. It supports spread betting on a variety of sports across a number of platforms including Call-Centres, internet, mobile and retail. Benefits include:

  1. Risk and liability control
  2. Live, In-play betting
  3. Unique catalogue of sports betting opportunities tailored to clients needs
  4. High performance and scalability
  5. Set up of own casino
  6. Flexibility on product channels
  7. Simple licensing model

Fixed Odds Software

  1. Three tier process allows in-stream auto-trading to reduce liability and risk
  2. Real-time settlement enables clients to reinvest winnings
  3. Scalable and high performing system that processes high volume of transactions
  4. Wide range of application integration points

Content Management Framework

Optima use a component-based web framework – WARP – for content management and sports betting. Specifically designed by Optima to meet the needs and expectations of customers in order for them to reap the benefits of the latest technology. WARP provides a flexible way for customers to change their sites with a variable amount of Optima involvement. Key features include:

  1. Flexible web branding enabling customers to differentiate between them and their competitors
  2. System is designed for high performance and scalability
  3. Prism portal management can manage multiple website, ideal for clients that use White Label model

Software Integration Points

The Optima MGS™ system is the leading open system on the market, and has been designed for integrations between applications within the MGS™ suite.

  1. Ideal for deployment into heterogenous environments allowing clients to avoid vendor tie-in
  2. In-house development capability allows clients to take ownership of the system
  3. Optima Altura terminal allows a single point of sale to accept transactions that are passed to the relevant back-end system

Optima professionals pride themselves on accomplishing their operational tasks for their clients to maximise on the efficiency and profitability of online gaming platforms. Clients have access to expert advice on how to expand and better serve customers.

How to run an Optima Sports Betting Casino?

We work with GamblingTec.com, a white labeling service provider which will be your fastest route to getting your optima sports betting solution online.

Additionally we offer a Curacao and a Malta licensing opportunity which may suite your needs.

Get in touch, we are a wealth of information and can help you make an informed decision.

I have years of experience with gambling hosting, casino games, Curacao licensing and online casinos

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