Do you know how to open a Bookmaker? Because of the laws and bureaucracy, opening an online bookmaker may not be such a simple task. It is precisely to help with administrative demands and avoid problems and headaches that Egaming Curaçao works.
With an extremely qualified and specialized team, Egaming Curaçao operates in Brazil, India and is expanding rapidly throughout Latin America and Africa. Egaming Curaçao works transparently and efficiently in issuing licenses and offers other services for bookmakers’ operation.
The large supply of available online bookmakers can give a false impression that this is an easy to open a bookmaker and operate. In practice, this is not the case, because the online gambling, casino and sports betting market is still maturing worldwide.
Activities related to the online gaming market usually have their own legislation by jurisdiction and are even prohibited in several countries. In jurisdictions where online gambling is allowed, this activity has bodies responsible solely for its regulation.
The regulators of bookmakers, casinos and other games of chance have the purpose of guaranteeing a fair game. The main functions of regulators in the virtual world of online games are:
- Ensure that bookmakers operate within the law.
- Ensure that the gaming practices performed are safe.
- Ensure that the gaming environment is safe and fair for all players.
Such guarantees come from licenses issued by regulatory bodies of each country, and each jurisdiction has its own conditions and rules.
The following are some important points that, in general, need to be addressed by everyone interested in opening a bookmaker. This makes it easier to better understand the work of Egaming Curaçao and the importance of having a license.
Countries without their own legislation, such as Brazil, for example, are considered part of the “gray zone”, that is, the legislation is unclear. Canada and Australia are also part of the “gray zone”. In the “gray zone” there are no specific laws for bookmakers and online games, so that, even if they are not legalized, betting and online gaming activities are not prohibited or illegal.
It is important to highlight that in many countries in the “gray zone” there is already a habit of online betting and a consolidated market with immense growth potential. To operate in such countries licenses are required, however, in such cases, operating licenses for the business are issued by other countries.
Although in some jurisdictions in the “gray zone” there are laws prohibiting online betting, when players place their online bet at a bookmaker licensed by Curaçao, for example, it is as if said players had gone to Curaçao and placed their bets there. The difference is that such trips were made via internet and not by any other transportation.
In summary, the licensed bookmaker is based in another country. Therefore, when betting on any bookmaker licensed in another country the player will not be breaking any laws. The same goes for those who want to open a bookmaker.
There are still bookmakers, online casinos, gambling sites that do not accept bets from players resident in countries where betting is prohibited.
As has already been said, based on the laws in force in “gray zone” countries, the activities of online bookmakers and gambling licensed in other jurisdictions are not prohibited as such bookmakers are not considered national, even if all communication from online bookmakers is done in the native language and the target audience, as well as most of the customers, are the inhabitants of the country of the “gray zone”.
After the operation of bookmakers in countries without their own legislation has been explained, then it will be clarified how bookmakers and laws work around the world.
Open a bookmaker: laws around the world
Contrary to what happens in Brazil, in the rest of Latin America the laws for betting are more permissive. In Argentina and Uruguay, there are even physical casinos with all kinds of games, where anyone of legal age can bet.
North and Central America
Legislation varies widely from country to country in this region. There are countries where the practice of online gambling is prohibited and in others it is allowed. In the United States, for example, allowing online and offline gaming activities varies by state in your territory. While in most places it is not possible to place bets of any kind, both the famous Las Vegas in Nevada and Atlantic City in New Jersey are recognized as the gaming capitals of the world.
Mexico and Canada fall into the same category as Brazil in online betting, that is, it is classified as part of the “gray zone”. For physical bets it is up to each state to decide its laws.
This is perhaps the continent with the greatest number of restrictions. In China and several Muslim countries, betting is prohibited. Even online gambling on foreign sites is illegal, and may even result in imprisonment.
Undoubtedly, South Africa is the place where there is the greatest acceptance of games and bookmakers. In the rest of the continent, what happens is the same scenario as the rest of the world: some countries prohibit online games and others do not. In addition, of course, to those countries that are part of the “gray zone”, that is, they do not have specific legislation.
In most of Eastern Europe, gambling and betting are prohibited. In the rest of the continent, they are usually allowed as long as they are licensed. It is no wonder that there are many licensing bodies such as Malta, the Isle of Man, the United Kingdom, among others in the territory.
Australia is another example of a country without specific legislation for online bookmakers. As in Brazil and Canada, Australians can bet on foreign websites. In the country itself, only lottery and sports betting are allowed: casino and other games are prohibited.
In New Zealand, casinos and other games are also allowed, and residents can also bet online.
After talking about the status of betting legislation in the world, it’s time to talk about the license. As can be seen, being licensed is a key issue for websites and bookmakers.
Open a bookmaker: License for bookmakers
To open a bookmaker the first and fundamental step to success is to have a license. The company will only have credibility and confidence from players if it is licensed. A quick search on the internet is enough to show that this factor is cited by all experts in online games.
Why should I license my bookmaker?
In order to be a licensed bookmaker, the operator guarantees that it will follow the rules, established by the competent agency issuing the license. If they do not do this, the bookmaker’s registration may be revoked. The purpose of the license is to protect the gambler and ensure fair play.
Without being licensed, there is no regulatory body to control the bookmaker, it operates as it pleases and may have dishonest practices. Sites that operate illegally may have their activities stopped or permanently closed. There are not a few cases where exactly this happened, with gamblers losing money on all of them. It is practically impossible to recover money from a company that does not obey the law or has closed its activities and disappeared.
Therefore, very few unsuspecting bettors will choose unlicensed bookmakers. A more uninformed adventurer may appear, but it certainly won’t be enough to keep activities going for long.
Another relevant factor is that many of the main means of payment used by bettors for deposit require that the bookmaker be licensed in at least one jurisdiction. Financial institutions, credit card operators and virtual wallets only link themselves to licensed companies to avoid problems, such as scams and fraud, either for their customers, or for the companies themselves.
How to credibly operate a trusted bookmaker that provides the main means of payment to receive deposits from the customers? The answer to this question is: having it licensed.
After reinforcing the importance of the license for business success, another important question arises: Where to issue the license when it is not possible to do this in your own country?
Open a Bookmaker: Where to get a gaming license?
The terms and conditions of online bookmakers are conditioned by the regulatory legislation of the licensing countries. It is also the gaming supervisory bodies of the countries that issue licenses that define the rules for the companies’ operation. In addition, there are different taxes depending on the country where the site is licensed.
Among the main bodies responsible for issuing licenses for bookmakers and online games we have:
- Curaçao: Located on the small Caribbean island, the entity that regulates Curaçao games is one of the oldest regulators of online games. This body has been operating since 1996.
- GSC Isle of Man: GSC stands for «Gambling Supervision Company». The agency, which has existed since 1962 to regulate the Isle of Man casinos, was one of the first to implement legislation for online gaming and issue licenses.
- MGA: The Malta Gaming Authority is one of the leading online gaming regulators in Europe. It has existed since the 2000s and has become one of the most issuing licenses in the world.
There are several countries where online gaming activity is permitted and the license can be issued in accordance with local law. The big problem is that the laws of each country vary widely in relation to the requirements for issuing licenses.
In addition, there are several types of licenses possible depending on the focus and operation of your business. There are many details that can make the whole process be long and end up not working without the help of qualified professionals.
Open a Bookmaker: Reliable IGaming software
To operate online bookmakers, it is necessary to use a software aimed at this purpose. The bookmaker can be the owner of the software, which means that the bookmaker creates and has complete intellectual and technical control over it; the software can be purchased ready-made, or it can be hired as a service. In order to choose the best solution, aspects such as: software quality, the service package offered and the price must be evaluated. It is recommended that you choose a software provider that has experience with online gambling and gambling sites.
It is through the operating software that bookmakers are made available online, receive payments, and create relationships with users. Choosing an inadequate solution and having to change the entire system after the launched operation is very laborious and costly, in addition to bringing risks such as loss of the database and customers.
It is unlikely that customers would prefer to bet on a bookmaker with intermittent service and does not protect their data. Therefore, choosing the iGaming platform is one of the most important decisions and one of the main factors to be considered when you open a bookmaker.
It is also recommended that the chosen software be customizable, so that each bookmaker can change the presentation, colors and layout of the platform when and how they want.
Frequently Asked Questions
How do I open a bookmaker in another country?
It is to help this that Egaming Curação works. We coordinate, assist and facilitate the entire process to ensure that our customers are successful in this endeavor.
How to understand the laws and all the bureaucracy of the different possible jurisdictions and choose one of them to get a license for online gaming?
Simple, choose Egaming Curaçao and get your registration with security and peace of mind.
Egaming Curaçao has extensive experience and knows all the processes in depth, so you know what will be needed to obtain the license. We make it easy for you to get your license. Consult our team of experts to learn more about our services and find the solution for your business.
If you have any other questions, please contact us: we will be happy to assist you and your company. The Egaming Curaçao team will be happy to help you achieve success in this endeavor.
These are just some of the main points for anyone who is thinking about opening an online bookmaker. There are many other factors that must be considered: this is why it is very important to have the support of a qualified company like Egaming Curaçao throughout the process.
Contact us to get more information about how to open a Bookmaker.