Depending on the number of games that you choose and how much you agree to pay in royalty, the cost for an online casino software will vary. Royalty fees usually range from 15%-40% on monthly turnover. Also, gaming providers often require you to show you an excess of around $300,000 to make sure that you can pay the customers who want to cash. Dec 04, 2020 Depending on the number of games that you choose and how much you agree to pay in royalty, the cost for an online casino software will vary. Royalty fees usually range from 15%-40% on monthly turnover. Also, gaming providers often require you to show you an excess of around $300,000 to make sure that you can pay the customers who want to cash.

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Why do many owners of gambling businesses give preference to Curacao jurisdiction? Besides global recognition and low pricing factor, the answer lies in its simplicity: a simplified registration procedure with a minimum set of documents and a low barrier to entry.

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How much does a gambling license Curacao cost?

The cost of gambling license depends on many factors and can vary depending on the availability of the client’s personal resources.

In total, Curacao license will initially cost under 20,000 euros. Compared to other jurisdictions, the price is really affordable. Curacao gambling license allows to open an account at the European bank branch and seamlessly connect every reliable payment system to the online casino.

Another thing you should take into consideration when calculating the egambling license price is a taxation system each particular country. Some jurisdictions may seem more profitable as they offer lower online gambling license cost but at the same time, the taxes you’re obligated to pay yearly will be higher. Due to the flexible tax laws, Curacao is a perfect choice – income tax here is up to 2%.

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This price of Curacao license includes:

• the registration of the local offshore company in order to use the preferential terms;
• issuing of a gambling license;
• rated local hosting and server space;
• management of the local company during the first year;
• the Committee services, filing, and registration of all the necessary documentation that will take on average 2-3 weeks from the moment of submission.

There are a lot of factors that determine the final cost of a gambling license, all of which depend on the services your establishment requires. The following table includes the expected fees and cost of the Curacao license if you opt for the basic package.

First things first, in order to start your business and apply for a license, you must have a trust company in Curacao — only local companies can apply for gambling licenses. In order for the said trust company to comply with the country’s laws, it will require a local physical address and a local managing director, and the price for both is also included in the total cost of obtaining a Curacao license. The price also covers everything from maintenance to various government fees, as well as opening a bank account.

An excellent thing about having a trust company in Curacao is that you can register a Curacao Export Zone company. By having an Export Zone company, your business will be required to pay significantly lower corporate income taxes — up to 2%. In addition, there is a sales tax of 6%.

Next, the applicant will be expected to pay for the gaming license itself and IP compliance services. These include one-time fees and deposits, such as various administrative fees while your license is being reviewed. Apart from that, the applicant is also expected to deposit the application fee and the fee for obtaining and maintaining the license — you are obliged to pay annual license fees. Keep in mind that the price can fluctuate and will depend on the size of your business, its complexity, as well as your personal resources.

Lastly, since you will most likely be running your business remotely, in order to meet permanent establishment requirements, you will be expected to host the servers locally. As we’ve stated in the table, the price includes the minimum gaming hosting services and will, naturally, increase as does your demand for more server space.

These are only some of the most significant services you will be required to pay for in order to obtain the license. Again, not every price is set in stone and it may change depending on various factors, but this should give you a general idea of what to expect if you are planning on obtaining a Curacao gaming license.

How to issue a Curacao license?

Entrepreneurs or anyone with an entrepreneurial mindset who delves into the world of online gambling, do not fully understand all the niche-specific nuances of how to conduct a gambling business legally and do not know how to deal with issues that may arise afterwards. GamingLicensing can offer its professional help and answer every question regarding the process of issuing a Curacao license. You can consult the experts anytime you’re willing to clarify any aspect you have problems with. GamingLicensing team will help will help you not only find out how much is a gambling license but will also take care of the whole license issuing process.

GamingLicensing experts are familiar with all the laws of Curacao, so there is no doubt that the application for a gaming license will be issued in agreement with all the international requirements and lawful regulations.

GamingLicensing provides a turnkey registration of the Curacao license. GamingLicensing service has no hidden costs or fees – only fixed price according to the contract.

In order for us to serve you better, following documents should be provided upon our request:

• identity card;
• bank reference;
• English translation of all the documentation;
• information on the company’s revenues;
• the company’s business plan.

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Should you obtain a gaming license?

No question about it! The license is the only thing that helps an online gambling business operate within a legal framework, but it also guarantees a responsible approach while working with international client base.

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There are four types of gambling market regulations, and they vary depending on the country that:

• regulates gambling on their territory;
• regulates and implements the monopoly;
• prohibits any form of gambling on their territory;
• does not have a gambling industry.

If gambling business conduct is not specified by the legislation of the country, you can use the international licensing services offered by such jurisdictions as the Isle of Man and Gibraltar, Malta, Curacao, Alderney and others. And if you have a hard time choosing one (or several) of those as all of them have different gaming license cost, tax rates, advantages and special aspects, GamingLicensing is always ready to help you make a perfect choice.

How to get a gambling license?

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Getting a gambling license can be tricky. Gambling business is a specific niche area that is even banned in some countries. Therefore, in order not to violate the local law and be able to conduct a legal business where it is possible, it is recommended to get the permission from relevant jurisdictions that are more loyal to the online casinos. One of the most profitable and reliable options available today is Curacao jurisdiction, where you can get a gambling license in no time, which is (considering affordable Curacao gaming license cost) is a great way to start a successful business even for the first-time entrepreneurs.

This jurisdiction has been operating since 1996 and is recognised today as one of the most reliable and stable. Besides, one license applies to all types of gambling business activities.

To get a gambling license, you must be registered in the Chamber of Commerce of the Antilles, to be able to create an offshore company. Then, you will have to collect and prepare a minimum package of supporting documents to back up your application.

Even though obtaining the Curacao license is a relatively quick process and a gambling license cost is affordable, performing a license registration on one’s own may cause a cascade of problems, with no guarantee of a resolution at all.

In order to save your time and money during the registration and approval processes, let GamingLicensing help you out every step of the way. Our experts can offer their assistance in obtaining the gambling license that will suit your needs.

FAQ

1. Which gambling license is both internationally recognised and most cost-effective?

   One of the best options in today’s market is the Curacao e-gaming license. It is an internationally recognised license issued in record times that has one of the lowest fees.

2. What do I need to get the Curacao e-Gaming license?

   To receive the Curacao e-gaming license, you need to complete several steps. First, you need to register a company in Curacao as only local companies can apply for the permit. You can register your company in the so-called Curacao Export Zone, which means you’ll have to pay up to 2% of all income tax. In addition, there is a sales tax of 6%.

   Next, you need to pay the licensing fees and IP compliance services that oblige you to host the gaming servers from Curacao. Also, you are expected to cover expenses for the annual renewal and maintenance of the license.

3. How much does the Curacao e-Gaming license cost and what does it include?

   The overall cost of the license depends on multiple factors, but the initial cost of the license does not exceed €20,000. The license cost includes the expenses regarding the registration of your company, issuing of the gambling license, local hosting and servers, as well as filing and registration of all paperwork and documentation.

The gambling industrygenerates millions of dollars each year. This has motivated a growing number ofbusiness enthusiasts to join the expanding market. There are so many things youneed to arrange when you are thinking about starting an online casino.But the first thing that will obviously come to your mind is how much it willcost to start one.

It all starts withfinancing. Generally, starting an online casino requires a budget of about$1.86 million. You should be able to recoup the investment in two years if youget enough customers to play at your online casino. Let’s walk you through theprocess of starting an online casino

Securingfunds

You can secure financingthrough various gambling entrepreneur organizations. There are many people outthere who are willing to fund gambling establishments. With online gamblingincreasingly becoming popular as a lucrative business idea, if you write a goodbusiness plan that holds an impressive permeation strategy to the largestgambling markets, you will certainly getan investing partner who will be willing to bankroll your online casino.

Software

An online casino cannotoperate without software. Most importantly, without the right software and gameselection, you may not succeed in the competitive industry. Your online casinomust offer a range of reliable games; therefore, you will need a mix ofblackjack, slot machines, roulette, poker, baccarat, scratch cards, and Pai Gowfrom leading online casino software developers such as NetEnt, Playtech,Microgaming, and Betsoft. This move will attract players to your online casinobecause you will be offering them different options.

Let’s take Microgamingsoftware package as an example. The company has developed over 450 onlinecasino games. A single poker user requires $250,000 for the main package. Theprice can increase or reduce depending on the willingness of the operator topay back loyalty bills, which are usually 15-40% of the profit earned everymonth.

If you choose Microgamingas your online casino software provider, the company will adjust theestablishment to suit your needs, along with providing full assistance, but youhave to ensure a website is in place and supervise customer support.

However, the companyrequires all operators to have an additional $300,000 to $500,000 that they canuse for players who cash out.

Playtech’s main parcelpackage goes for $200,000 to $300,000, whereas that for Rival Gaming starts at$100,000.

Licensing

The next step is workingwith a gambling jurisdiction. You cannot operate an online casino without alicense. Jurisdiction basically means a special field where you get to hostyour online gambling servers legally.

Since online gambling isnot allowed in many countries, online casinos cannot base their sites in anycountry. The most popular onlinegambling jurisdictions in the world include Costa Rica, Isle of Man, Antigua,Netherlands Antilles, Curacao, Malta, and Gibraltar.

A gaming license inAntigua costs $75,000 per year, plus 3% of profits earned in the gamblingbusiness. In addition, you will need to purchase a wagering certificate inAntigua, which costs $50,000.

Website

You need a good-lookingwebsite with all the necessary functionalities. Remember that the website theface of your online casino business; therefore, invest in a design that looksnice. Building a website for your online casino should cost about $3,000.

Staffingyour platform

Your platform needs about12 professionals who will be available 24 hours a day to attend to user’sproblems. In addition, you will need affiliate managers who will mobilizeaffiliate associates to merchandise the platform.

You will also need aPlayer Retention Manager who will be responsible for maintaining the mostvaluable players, and a 3-person IT team to deal with IT matters. Wages alonewill cost you about $200,000 to $300,000 per year.

However, you can reduce thiscost by hiring workers in countries other than North America and Europe. Thereare many reputable gambling organizations situated in countries like Costa Ricaand South Africa mainly because the cost of running a gambling business thereis low when compared to other places.

Marketingtools

Marketing your onlinecasino can cost $20,000 to $100,000. When you search “best online casinos,”“top online casino,” or “Online casino,” the results that will appear on thefirst page are likely to be that of affiliate websites.

If you are looking topartner with the best affiliates to advertise your online casino, you will haveto remit 50-60% of your revenue to them. Generally, a startup budget of about$50,000 per month should work for affiliate marketing.

Paymentmethods

As mentioned above,Microgaming requires all casinos that use its software to have an extra$300,000 to $500,000. You need to provide this money to each payment method youwant to list on your platform so that you can quickly cash out winnings to yourcustomers.

Some of the paymentmethods you can use for deposits include Skrill, PayPal, Neteller, andMastercard. You can either use a deposit processor or arrange an in-houseoutlay processing unit. Using a payment processor will cost you $20,000 to$50,000 per month.

Howlong will it take before your online casino business breaks even?

It should takeapproximately two years for your new business to break even. But always keep inmind that you cannot become a millionaire overnight. Therefore, be patient andbe contented with the profit you make however small it is because you are juststarting.