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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White label, turn key, casino solutions

If you are looking for a white label casino solution in order to start an online casino, then you have come to the right place. We, as a hosting company, provide the underlying infrastructure to a leading casino white labeling company, GamblingTec.com whose services we recommend.

GamblingTec offers services to game developers, people writing new and innovative games and who need a licensing structure as well as casino operators looking for a white label, turn key, online casino solution.

WHITE LABEL ONLINE CASINO SOFTWARE PROVIDER

As a turn key white Label online casino software provider, GamblingTec is a cost-effective and comprehensive platform aimed at licensing your casino idea in a short space of time. The aim is to save you time, money, recruitment and staff costs and all other aspects of starting a casino from the ground up. GamblingTec will implement a ready-to-go-live product, in time and on budget.

Essentially GamblingTec helps you with your casino white labeling needs. It uses propriatory software integrated into everything you need in order to run an online casino business. For instance, it is integrated into payment solutions, hosting, gambling licenses and accounting solutions. The main advantage is the simplicity to get your caino up and running. Additionally, there is little regulatory or compliance procedures to go through since GamblingTec.com has already covered this.

GAMING LICENSE

With a white label casino solution, it is simple and easy to operate under a unified gaming license. Consequently, very little bureaucracy is involved and your casino will legally operate under the company’s gambling license. This will make your casino simpler and easier to manage.

MERCHANT ACCOUNTS

Online casinos traditionally struggle to accept online payments. For this reason, finding the right payment partner for your business can be both challenging and frustrating. Not only do you need to go through extensive due diligence, KYC and AML processes, you also need to maintain your financial infrastructure. This is important due to ongoing regulatory changes that will impact your ability to accept payments. In our opinion, by managing a white label casino, you need not worry about the underlying payment infrastructure. This infrastructure is managed by GamblingTec.com’s dedicated team of payment specialists.

CASINO GAME SOFTWARE

Game developers produce games for the platform which are ready for you to offer to your customers with little to no hassle. Due to this, you will save on game setup fees traditionally charged by game companies. Furthermore, you will not need to pay for complicated wallet integrations.

In addition to this, if you have a game idea, the GamblingTec.com team of software engineers are willing and able to work with you in order to produce your game for you.

PAYMENT SOLUTIONS

The GamblingTec.com platform is integrated into a variety of payment solutions such as NETEller, Skrill, Credit Card, and Bitcoin. This gives your customers a wide variety of deposit methods to choose from which means better revenues.

COSTS

Setting up a white label casino can be expensive, however, with GamblingTec.com, pricing is flexible and has been designed to meet a variety of budgets. to save costs, you are free to opt for a revenue share deal in lieu of fixed monthly costs which can be updated at any time. Not only this, if you wish to move your casino to a stand alone gambling license, the company will help you with the transition.

We work with GamblingTec.com as well as Curacao and Malta licensing opportunities. We can help you make an informed decisions when deciding what option is best for you.

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

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Managed casino hosting

We offer comprehensive, fully managed and affordable infrastructure solutions to online casinos who required Managed casino hosting and iGaming solutions to manage and run their casino styled games, betting exchanges, betting games, gaming platforms, online casinos and lotteries.

We are located in the E-Commerce Park E-Zone which is the islands most popular data center. We can tailor our services to meet the needs of your gaming application no matter what betting software you are running.

ABOUT US

We have been operating in Curacao since 2006 and have been involved in the iGaming sector for over 12 years with premium industry customers located in Curacao, United Kingdom, Switzerland, Brazil and Asia. We specialize in enterprise hosting services and IT Solutions specifically geared towards the iGaming industry.

Managed casino hosting

We work closely with E-Commerce Park and their team of experienced Windows and Linux engineers. Combined with the skills of our Network Administrators and Software Engineers allows you to focus on your core business needs leaving the IT Infrastructure to us.

We can offer a number of solutions:

  1. Shared hosting
  2. Gambling VPS servers
  3. Dedicated servers
  4. Bespoke casino environments
  5. Co-Location services

Shared hosting for casinos

Our shared hosting solution is for the small to micro casino business. These are tailored for the users with a unique idea but on a small budget. We can get your managed casino hosting up and running for as little as €40 per month.

Managed VPS servers for casinos

Our VPS servers have been designed to manage the hard hitting casino environment and your medium sized casino would do well on a set of these servers. We operate large enterprise gambling applications on our VPS servers and we can assure you they will do the job.

Managed dedicated servers for casinos

We have limited dedicated servers for rental which you may use should you wish to run your own enterprise casino environment.

Bespoke servers for casinos

We offer a hybird environment for the casino wanting to take advantage of our shared, VPS and dedicated or co-located servers.

Co-location for casinos

Clients who are licensed in Curacao are reauired to own physical hardware on the island. We can offer refurbished machines or can facilitat the procurement of hardware for you, if required.

General Services

We can setup your servers for you and install either Linux or Microsoft. Part of our service will be to ensure that your operating system is up to date and that the server is properly hardened.

Managed casino Services

If you require us to manage your casinos software environment, we can do this for you.

  1. We co-locate your hardware (and can offer a procurment service to obtain hardware for you if required)
  2. Your servers are installed in our rack cabinets
  3. We install software (Linux/Microsoft) and harden your servers for you
  4. We can configure your switches, Firewalls and VPN
  5. On site 24/7 engineers to tend to your hardware needs

Before moving forward, make sure to get in touch with us, it costs you nothing and could save you a small fortune. We have been in the casino hosting business for a long enough time to know many tricks of the trade.

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

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Curacao Permanent Establishment

Curacao offers great tax incentives to e-commerce companies looking to be based from the island. This means you pay 2% tax as apposed to 40% tax. Apart from the great tax incentive the island also offers a fantastic telecommunication infrastructure makinging it an ideal location to run an e-business. However, permanent establishment is required and this is what will influence certain aspects of your business.

What companies require Permanent Establishment?

In Curacao a local company can be given special status known as “E-Zone status”, this is a company operating from one of the local economic zones. The most popular types of comapnies being formed in Curacao are remote gambling companies who setup due to the affordable curacao gambling license. These companies are generally foreign owned and it is vitaly important that they adhere to PE rules in order to ensure they satisfy permanent establishment criteria.

Permanent Establishment and owning servers in Curacao

In terms of web hosting, in order to meet Permanent Establishment (PE) requirements you must own hardware (if you are runnin an E-Zone company). This means you must own a physical machine on the island and not use rented servers. For customers wanting to benefit from our cloud infrastructure and meet PE regulations at the same time, we have created an affordable colocation-cloud product. Essentially this means you buy a server and host it with us, and we offer a VPS as well as a shared hosting package as part of the deal.

Why can I not just rent a server?

The reason is that your new Curacao based E-Zone business must satisfy permanent establishment criteria and one of those criteria is to own physical property on the island. If not, your country of residence may claim your E-Zone company as a local company due to a lack of substance and apply local taxes to your business.

By owning infrastructure, having an office address, local directors, telephone numebrs and staff on the island etc. your E-Zone company is permanently established and legal requriments are satisfied. In this case, it would be hard to prove that your company is somehow not a CW E-Zone entity.

Need an E-Zone company?

We are not just a webhosting company, we have been on the island since 2006 and we can help you with your business, be it online gambling or some form of e-commerce business that you wish to benefit from favpurable tax incentives.

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

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How to start an iGaming Business, Start an online casino

Ever wanted to learn how to start an iGaming business or start an online casino? Well you are in luck, this post outlines exactly what you need to do in order to get going!

Starting an iGaming business is a complex task that can take a lot of time and effort however there are some secrets you can use to make the task a lot simpler than one would expect.

What is an iGaming business

An iGaming business is one where you offer gambling related games to your cusotmers who play these games using fiat currency or cyrpotcurrency on the chance of winning a prize. iGaming games includes poker, casinos, lotteries, bingo and sports betting. Many countries restrict or ban online gambling, but it is legal in most countries of the European Union, several nations in the Caribbean and a growing number of African countries.

Will I need a gambling license to start an iGaming business?

Yes you will, without an iGaming license you will not be able to setup e-wallets or merchant processing accounts in order to accept payments from your customers.

If you want your casino to target Europe, we would suggest a Malta gambling license, on the other hand if you are interested in secondary markets then we would suggest a Curacao gambling license.

Will I need games to start an iGaming business?

Yes, iGaming games are traditionally lottery, casino, poker, table games, sports betting etc. These you could build yourself (if you have the skills to do so) but in most instances, you will work with a casino game vendor or a games aggregator.

Will I need e-wallets and credit card payments to start an iGaming business?

Unless you plan to take cash in hand, you will need to integrate payments into your website so that your players can make deposits.

Popular payment methods are: NETeller, Skrill and Credit Card. In addition to this, many casinos are now accepting Bitcoin and other alt coins as a form of payment.

Some people think they can use the likes of Paypal and Payonner to accept payments. These companies and many like them do not accept gambling type businesses as customers.

What platform software can I use to start my iGaming business?

Companies such as Microgaming, NETentertainment, Playtech are the most well known gambling companies who will offer a packaged solution for you to start your business. In many instances these companies will ask large upfront fees from you before you can get going. When we were at ICE in 2016, we were told by NETentertainment that we needed to pony up €120,000.00 just to get their games. Microgaming asked for $200,000.00 USD when we first approached them. We never approched PlayTech however we would imagine the pricing to be simialr.

If you have the money to burn, we would recommend all of the above companies, they have great games, great products, and good support and staff. If you do not have the money to burn, then the next option is likely your best one.

Start your iGaming casino with GamblingTec.com

We have written extensively about GamblingTec.com as a company that has been designed to support smaller start up game developemnt companies wanting to get their games into a licensed environment.

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

For more information visit: www.gamblingtec.com

Cost of a gambling license in Curacao

Overview

So you have been wondering how to get a gaming license? You may have looked at more traditional jurisdictions such as the UK or Malta however the gaming license cost is a significant factor in your decision making process and a remote gaming license from Curacao is looking like an affordable option.

Your local gambling commission license requirements may be too onerous for your needs or simply too expensive. You want an online gambling license to service your immediate needs and at the right price.

A Curacao gaming license is probably your most affordable option to get your casino, poker, bingo, sports book, lottery or raffle licensed and online! It is more affordable than a Malta gaming license and less bureaucratic. In addition to this, Curacao corporate structures offer low tax incentives and offer great legal protection.

Further to the above, Bitcoin and cryptocurrency casinos are chosing to license in Curacao as the jurisdiction offers flexible and cost effective sublicensing opportunities such as the great licensing offer by GamblingTec.com.

Word of warning

Some of our readers point out that a costa rica gambling license is considered a “cheap gambling license”. Be warned, it is not an actual gaming license but rather a data license. More often than not, financial institutions will not work with an entity using this for their gaming licensing purposes.

What we cover

Curacao is possibly the most affordable offshore gambling jurisdiction to be licensed in and comes with significant tax incentives. The purpose of this document is to answer the following questions:

  1. How do you obtain the gambling/casino license?
  2. How much will the gambling license cost?
  3. How long does it take to get the gambling license?
  4. What casino businesses can I operate with the license?
  5. Where will the gambling license be valid?
  6. What taxes will I need to pay?
  7. How to apply for a Curacao gambling license?
  8. Can a foreign company apply for a Curacao gambling license?
  9. What are the pros and cons of a Curacao gambling license?

Steps to get your Curacao gambling license

In order to obtain the Curacao gambling license, you will need to go through an eGaming application process. The process is quick, so long as you have all the required documents in place.

  1. Incorporate a Curacao company with e-zone status (only local companies can apply for gambling licenses)
  2. Purchase hardware and sign up with local hosting (you are required to own physical hardware on the island)
  3. Apply for company bank accounts (even if you plan to a run a Bitcoin casino, you still need to pay your bills using traditional currency)
  4. Apply for e-wallets, Psps etc. (you will need reliable processors)

NOTE: Due to PE (Permanent Establishment rules) hardware is required to be owned on the island with the minimum requirement being that you host your client database on that server. This is something we can help you with and have reliable and resiliant solutions for your needs.

How much will a Curacao gambling license cost?

The following are cost “estimates” only and should not be seen as some form of “Quote”. While we have tried to keep this information as up to date as possible, prices do change especially when considering the legal burdens, due diligence when processing gambling license applicatioins.

Incorporation and management costs

You will be working with a local management company who will take care of filings and general administration requirements. They will also be responsible for setting up your e-zone company and applying for your gambling license.

  1. EUR5500 – EUR6500 one-time Incorporation fee
  2. EUR3250 – EUR5250 annual management fee
  3. EUR200 monthly administration costs (varies)

You can spend anything from EUR14000 – EUR24,000 in your first year.

Licensing costs

Licensing fees for the online gaming (sub)license are:

  1. EUR4500 (annual) license fee (costs vary between providers and we will make sure you get the best deal)
  2. EUR1000 – (one-time) application fee
  3. EUR250 – e-zone application and yearly fee

Hardware costs

You are required to own hardware on the island in order to satisfy the permanent establishment requirement (PE). This is not as difficult as you may at first imagine and we can help you with finding a second hand machine pre-existing on the island or having one flown in. If you work with us for your hosting needs, we will provide you with a shared hosting account, a VPS server all linked up to your hardware.

  1. Server cost: EUR1200
  2. Hosting costs: EUR5400/annum (with us)

You are also free to host with the local data center, however this is not a managed environment and does not come with cloud and shared hosting options as part of the deal.

How long does does it take to get the gambling licensing?

It should not take more than three weeks and on condition you have all your paperwork in place.

What casino businesses can I operate under a Curacao license?

Curacao has one license which covers all genre of gaming.

  • Betting, Sports Betting, Sports Books
  • Casino Games, Video Bingo, Video Slots, Slot Machines, Video Poker
  • Table games, Poker and other card games
  • Lotteries, Raffles
  • Games of Skill, Rummy, arguably Poker, Back Gammon, Certain board games etc.

Games of skill

It is worth mentioning games of skill as this is often a contetious issue. Often operators attempt to classify their games as a game of skill in order to avoide getting a gambling license. While in some cases this may be true, the ultimate acid test is whether the banks will offer merchant processing to your gameor not. A good blue print is to take a look at the Malta controlled skill game regulations to better understand your games designation.

Where is a Curacao gambling license valid?

The Curacao license can be legally used in any jurisdiction other than the following where it is expressly forbidden: Aruba, Bonaire, Curacao, France, The Netherlands, Saba, Statia, St. Maarten, Singapore, USA…

While Curacao licensed gambling operators are legislated from operating in the above countries, this does not mean your Curacao casino will be accepted in all other jurisdictions. Each jurisdiction has its own set of rules which will limit your ability to operate under the license. For instance, you may be prevented from using local payment solutions, or advertising your business without being able to provide a valid local license. Your current PSPs may soft block those regions and interbank networks may refuse to process wire transfers.

For a more detailed analysis of where the license can be used we have compiled a post, which is a work in progress, on where the Curacao gambling license can be used.

What taxes will I need to pay with my Curacao Gambling License?

E-Zone companies pay 2% tax.

How do I get a Curacao gambling license?

Curacao is certainly the cheapest jurisdiction for your gambling license and we are here to help you with the application process. We are also available, at no cost, to assist you with your needs over skype or email.

Contact us for more information or request a free consultation.

Can a foreign company apply for a Curacao gambling license?

It is possible and completely feasable for a foreign company to obtain a Curacao gambling license.

A foreign company cannot apply for a sublicesne directly from a master license holder, instead, they must apply through an existing licensed Curacao company. Traditionally this method is used allonogside a white label turnkey casino solution. And with the advent of cryptocurrency and blockchain casinos, this is becoming a convenient way to obtain a gambling license withouth having to manage an expensive Curacao company.

When sublicensing, the company managing your license will be listed as the responsible party linked to your license and it is in their best interest to make sure your casino follows the rules and regulations. There are some tradeoffs such as your domain name needing to be under their control and hosting of your casino needing to be in Curacao. If you are running a cryptocurrency casino, additional regulations will apply.

What are the pros and cons of a Curacao gambling license?

The pros of a Curacao gambling license relate to lower costs to obtain, offers a simple application process and is an all inclusive license (you can offer sports betting and casino games on the smae license).

The cons of the license are lower standards when compared to a jurisdiction such as Malta, a hands off approach to disputes, difficult to market in some jurisdictions and it can be difficult to obtain a bank account and processing.

Alternative casino gambling license options:

If you are on a tight budget, we recommend taking a look at www.gamblingtec.com.

GamblingTec.com offers a variety of licensing opportunities from licensing through your own Curacao company to obtaining a sublicense through a third party Curacao company.

Additionally, GamblingTec.com offers a type of turnkey licensing platform and works with game developers and start up casino operators. Game developers integrate their games into the licensed platform and operators offer those games via uniquely branded (and licensed) websites/applications which are integrated into its wallet solution.

This is by far the best entry level option available to you. Your GamblingTec casino can be converted into a stand alone licensed environment at a later date which is very convenient.

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

FURTHER INFORMATION ON CURACAO GAMBLING LICENSES

We wrote an article on Curacao Gambling License which may be of interest to you should you be looking for further information.