In Which Countries is it Better to Develop a Casino Business?

Some businesses don’t need that much effort to start because they thrive even during an economic turmoil. This is true of a casino business, but it mainly depends on where you start it.

The iGaming business is a no-brainer for most people. Revenues are good, and it is one of the businesses that will stand the test of uncertain times. That said, not enough people look into what it takes to get started. Some countries are better to start an online casino than others for various reasons, and we will look at why the best are regarded as such.

Here are the top three countries to start an online gambling business.

Canada

The two regulators to think about when opening a Canadian gambling site are Malta Gaming Authority and Kahnawake Gaming Commission. The latter is mandatory for those starting gambling businesses from scratch in the country, while the former is the country’s preferred authority for offshore casinos. Most of the popular instant withdrawal casinos Canada are registered offshore, but they can run their business here without government interference. Gambling at online casinos is not legal in Canada, but the government allows the industry to prosper if the set conditions are met.  

Currently, Canada is one of the fastest-growing gambling markets in the world, and part of this is due to the demographics. A younger population with a decent disposable income can gamble without worrying the government too much. Add the many regulated online casinos available here and all the eWallets that allow fast withdrawals, and you have all the ingredients you need for a thriving business.

The Netherlands

Although the Netherlands is the newest kid in the block, it has already started on a high note. The gambling authority, Kansspelautoriteit (KSA), has awarded licenses to offshore and locally registered casinos from this year. The government is fully involved, so there are taxes to pay and regulations to follow to protect the players from scams and misuse of personal data.

When online gambling was legalized in the country, some of the biggest international names in the industry were penalized for six months for targeting Dutch players while it was illegal. They will be warming up the bench for that period before they are allowed in with the rest.  

Europe

Gambling in Europe is legal in most countries, and there is a large enough market for everyone. Germany is a new kid in the iGaming market, but it is already making headlines. Players can only deposit up to €1,000 and bet a maximum of €1 on slots. In Curacao, you will be required to pay a $2,300 application fee of $1,700 as a monthly gambling fee. The earnings from gambling are taxed at 2% and 0% for sports betting. This makes it one of the friendliest iGaming markets globally. Malta is home to one of the most reputable gambling authorities globally – the Malta Gaming Authority – and the license is also a little steeper compared to other locations in Europe. That said, the stellar reputation makes it one of the most profitable iGaming business locations in the world for those planning to run real money sites.

Things to Consider

Just like with any other online business, you want to think of these three things before deciding where to start a legal casino.

Legality

Is it legal for residents to play at online casinos in that jurisdiction? If locally licensed casinos are not allowed to operate there, are offshore sites legalized? Most countries that are not keen on legalizing online gambling have no issue with licensed foreign entities providing these services.

Taxes

What is the tax regime like in that country? If it is punitive, it will discourage players from gambling or make it hard to turn a profit. Taxation is critical for any business and not just for an online gambling site.

Demographics

What is the country’s population like, and how many fall in the bracket that you target? The current average gambler is 35 years old because they have the disposable income to spend on these activities and the hardware required. Knowing your audience helps you make wise decisions when investing.

Is it Cheap?

It is not exactly cheap, opening a casino business. Apart from the annual license – from $75,000, you will need a responsive website – $3,000, software – $100,000 and above, and staff to attend to site users. Of course, you will also pay a fixed-rate tax based on your revenue, depending on the jurisdiction. While it is not easy to get started on a budget – because you also want to offer the best to be at par with the competition – the returns and rewards are worth the trouble.

Huynh Nguyen

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