Getting a Malta betting license
Malta is a beautiful Mediterranean island state. The best time to visit it is autumn, when there is no sultry heat and the water temperature is still comfortable for swimming. However, to obtain a license, you will not have to fly—or sail by ferry from Sicily— to Malta at all, since we will take all the trouble. According to MGA (Malta Gaming Authority) rules, bookmaking activities require a B2C license. In order to get it, you must provide the following documents:
- an application in English;
- copies of company’s beneficial owners’ personal documents;
- a brief description of your professional background, criminal record, corporate charter, business plan and some other documents.
A license holder is obliged to pay an annual license fee of €25,000. After receiving a registration fee and verifying the submitted documents, MGA makes a decision on issuing a betting license. Generally, the whole process takes about 2 months.
As a result, you will be issued a B2C license, which allows you to conduct betting activities in all countries where gambling is not prohibited.
Getting a Curacao betting license
A company that is planning to receive sports bets via the Internet may also obtain a Curacao license, which is considered a convenient alternative to Malta’s one. With the Curacao betting license, one can enjoy a number of advantages:
- almost every bank will willingly open you a Merchant Account for conducting transactions and players’ deposits/withdrawals;
- sportsbook software providers freely cooperate with Curacao license holders;
- Curacao’s corporate tax rate is 22%; however, so-called E-Zone companies are completely tax-exempt. GamingLicensing specialists will provide you professional assistance in registering your company in Curacao’s E-Zone.
In order to successfully get a license, you must meet several technical requirements, such as storing backup information about clients and transactions on Curacao’s soil (other databases may be physically located anywhere), getting your software certified by an audit company and having specific website sections (Terms and Conditions, Refund Policy, etc.) and a clickable icon confirming licensing.
Hopefully, a future sportsbook operator now has no doubts about the necessity of obtaining a license and working within the law. As of today, the best and the most cost-efficient option is obtaining approval documents from Malta or Curacao.