Considering becoming a casino mogul? Then it pays to know your way around how to get a casino license.

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Where to license a casino


Knowing where you want to license a casino is important for knowing which customers you want to serve.

If your target market is people who are holidaying in Cambodia and you want them in a venue, then you are going to have to seek out the proper licensing conditions to do that.

However, if you want to serve a global audience online, then you can look to casino licensing jurisdictions that allow you to do that offshore.


Licensing a physical casino


Licensing a physical casino is typically a highly involved process that can cost a significant amount of time, money, and effort.

Many places, such as states in the US, have a very strict policy on new entrants to the casino market, and you may find that starting up a casino in a given place is simply out of the realm of possibility, given the number of hoops you have to jump through.

If we take, again, Cambodia as an example, where the cost of a casino license per year is only around $40,000 USD, you also have to consider the application cost to begin with, the bureaucratic difficulties and differences, and other ongoing costs you may not have considered.

This is even though the process appears less expensive and less complicated than other more heavily established markets.


Licensing an online casino


Licensing an online casino is typically much less expensive than a physical casino, regardless of the jurisdiction that it’s registered in.

Various different countries and states have widely varying rules and regulations for applying for a license as well as running an online casino.

For example, in the UK, if you were to license a casino in the UK, you (as the operator) would need to be based in the UK or European Economic Area.

You would also need to pass through some very strict standards to have your application approved as well as comply with your terms of licensing every year.

On the other hand, obtaining a license from a jurisdiction such as Curacao means that the terms of your licensing, and even getting the license approved for operation, are far less strict.


Research the license application process


Before you waltz up to a licensing authority in Costa Rica with money in hand and your domain name, you’ll need to research the terms and conditions of the application.

Failing the application due to overlooking some details is a big waste of money.

It is a good idea to have a lawyer who is experienced in the field help you along the way to ensure best practices and the best chance at having your application approved.

It is also important to note that while some jurisdictions provide a fairly swift timeframe from application through to approval, others can drag on for months to years.

While you are researching the license application process, you should also be researching the terms and conditions of operation to see what you need to do on a yearly basis; be it auditing, fees, etcetera.


Put together your application and submit


Now that you have all the relevant information for what you need to provide to the authorities and any other licensing-associated bodies, you can put together your application.

Don’t forget to have your lawyer look over everything to make sure it is compliant with the licensing application terms.

Some people choose to apply for licenses in multiple jurisdictions, so that they may serve multiple audiences.

Make sure to note the timeframes for the review of your application so that you can check back in if you haven’t received a response within a reasonable amount of time.


Complying with the license


If you have gotten this far, then you now are the proud owner of an operational casino license, congratulations!

To ensure that you don’t lose this license, make sure that you keep up to date with any rules and regulations of operation as required by the relevant overseeing bodies.