The online gambling industry has grown tremendously over the past decade and remains a worthwhile business to venture into. The first step of starting such a business is deciding where it will be located. Even though your home country could be the most familiar choice, it is often impossible to pick it because of various reasons related to the law or the general business environment. Hence, most people opt for offshore options.
The advantages of choosing the most ideal country for your business include:
- better tax laws,
- low license fees,
- clear registration guidelines,
- minimal bureaucracies,
- and fewer regulatory restrictions.
LeagueofSlots and other casinos of its caliber have thrived because of getting it right in their choice of location. An error in this step could be disastrous.
Let us take a look at the top countries for online casino businesses. They have different pros so your choice will depend on your priorities.
The UK tops this list even though it has higher license fees and tax rates than most of the other countries that will be discussed. Nevertheless, it is a fantastic choice because it has clear registration guidelines. Gambling is regulated by the UK Gambling Commission, which is perhaps the most respected regulatory body in the world because of its strict operational standards for its licensees which inspires trustworthiness.
This country is also stable and secure and provides a pool of some of the most skilled staff that you can find in the world. Since it is home to many other companies, it will enable you to create a business network with others. Finally, the UK has a huge population of gamblers who can be your potential customers. It is only legal for them to play in UKGC-licensed casinos, which is a clear advantage.
Malta is another popular spot for starting an online casino business. It also has relatively high license fees but the taxes are much lower compared to the UK. The country was among the first to streamline the regulation and licensing of online gambling. All its casinos are regulated by the Malta Gaming Authority.
This country is the gaming capital of the world. It is home to several online casino businesses and provides an amazing environment for them to cooperate and thrive. Malta is in the European Union so its casinos are trusted across the continent. Because of the concentration of online casino companies, it is easy to find a skilled workforce in the region.
Sweden has comparable advantages with the UK. It is an EU member state with a huge population of gamblers who can be your potential customers. It also has highly-skilled individuals who will form part of your workforce. The country also hosts several other companies, which provides an opportunity to create a good professional network. The regulatory body in this country is the Swedish Gambling Authority.
However, the country has high license fees and tax rates. This is perhaps the only reason that can put you off.
This jurisdiction is ideal for people who are searching for ultimate freedom. It does not have any regulations for offshore businesses that engage in casino activities. This means that it does not charge license fees and taxes on revenue gotten from out of the country. However, the freedom is both an advantage and disadvantage. It could allow the casino to operate freely and make money with minimal charges but it doesn’t inspire any confidence in gamblers.
Hence, some countries will restrict their residents from playing in such casinos. This could easily discourage them from setting up here.
Curacao was also among the first jurisdictions to create guidelines for the licensing of online casinos. Gambling in this jurisdiction is regulated by the Curacao eGaming Commission. Many new online casino businesses prefer it because of its straightforward licensing procedures and low tax rates.
Besides, it also has skilled labor who can work in your business. The country has several companies and this attracted specialists to it. Also, since many companies are registered in Curacao, many countries have built trust in their regulatory body and allowed their residents to legally gamble in them. The only disadvantage is that Curacao has high licensing fees that are comparable to other countries like Sweden. Nevertheless, it remains the most popular destination for offshoring.
Other suitable jurisdictions for online casino business include Cyprus, Isle of Man, Gibraltar, and Alderney. They are also worth considering.
These are the top five countries for the online casino business. They have clear advantages, which include straightforward regulations, availability of skilled labor, low tax rates, and trustworthiness. You can consider them as the ideal destination for your business.