Online gambling is a lucrative industry whose popularity continues to grow alongside advancements in modern technology. The online gaming and gambling sector is expected to grow by 11% annually until 2030, whilst the rise of mobile apps and the metaverse is opening up new opportunities to attract new customers to the industry.

How do I get started with online gambling?

To start your own online gambling business, you must first obtain a licence. An online gambling licence allows a business to offer services relating to sports betting, online gambling and casinos, esports, as well as live gambling and betting. With such a wide range of revenue streams, potential customers always have something to look forward to.

Gambling is a strictly regulated industry, and obtaining a licence is typically a lengthy and bureaucratic process. However, there are ways to make this procedure simpler and hassle-free for the business owner. One advantage of the online gambling industry is the ability to operate from anywhere in the world, without being restricted by physical location or borders.

There are various licensing options available worldwide, differing in cost, duration and the number of requirements, and most entrepreneurs manage to find the option that best suits their business needs, particularly if they enlist the help of a professional law firm.

To decide where to base your future company, start by considering practical matters such as accounting, tax payments and payment service providers. The typical approach is to choose an offshore jurisdiction in which to set up a new company. Small, isolated countries are usually the best choice, as they are often cheaper and located far from political conflicts and unrest (for example, consider Curaçao or Kanawake).

How do you choose an offshore location?

Ultimately, every country has its pros and cons. It is important to consider the following factors for each location:

Cost: before you set out to obtain a licence, first decide on your budget. Your budget should cover not only the costs of the initial application to set up a company, but also any subsequent fees for licensing, registration, operation and maintenance of your business.
The country’s economic situation: although some developing countries may offer cheaper options for obtaining a licence, it is not worth the risk if the country lacks political or economic stability.
Taxes: choose a country where double taxation does not apply — at least not in your personal circumstances. The main purpose of an offshore entity is to reduce the burden of high costs and taxes on the business owner, and double taxation due to insufficient research is the worst possible outcome. For the best results, we strongly recommend consulting a lawyer or tax expert.

Outsourcing legal services

Obtaining a gambling licence is never easy, cheap or quick. Licences require time to prepare and must be renewed periodically. To avoid missed payments, incorrectly completed documents and the accidental commencement of illegal activities, consider engaging external legal assistance — their role will be not only to advise you on the process of setting up a gambling business and provide recommendations on choosing an offshore jurisdiction, but also to submit documents on your behalf, help establish operational processes and monitor compliance with licensing agreements.

It is important, however, to choose a law firm that has experience in obtaining gambling licences at an international level and personal connections in various jurisdictions. Such specialists should have established contacts with regulators, judges and authorities, and be able to provide high-quality services directly in your chosen location. Sometimes an outsourcing company does not operate directly in that jurisdiction, but has reliable partners who handle routine procedures.

Please contact our team for advice if you are interested in setting up an online gambling business.