How to Successfully Launch a Casino: Specifics of the International Market in 2023

Despite the global economic crisis, the gambling market instantly adapted itself to new realities and continues to bring high profits to casino owners.

At the beginning of 2020 alone, the turnover of the industry grew by 3%. Experts believe that, by the end of this year, it will increase by another 7%, and in 4 years, the market volume will exceed 117 billion dollars.

We are constantly monitoring the latest trends and will be glad to share with you which of them require the closest attention. Among the latest iGaming trends, we can name:

• renewal of the legal regulation of the market;
• conversion of the sector to the mobile format;
• growth in the popularity of social and instant entertainment;
• introduction of cryptocurrency services;
• active development of VR solutions.

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Updated Requirements for Foreign Operators

Given the rapid growth of the sector, many countries have changed its regulation:

Georgia

Since this year, special controlling organisations began to work in the region. The tasks of these new government agencies include:

• compliance assessment of the operator’s actions with the provisions of the local license;
• quality control of hardware and digital software;
• assessment of compliance of game content with legal requirements;
• external audit of gambling projects;
• verifications of the timeliness of tax deductions;
• issuance of certificates of conformity.

Spain

During the pandemic, the country had limited advertising of online establishments. Casino owners can only promote their projects at night — from 1 am to 5 am. These restrictions are also related to working on the Internet and cooperating with media networks. Sports betting can be advertised from 8 pm to 5 am.

The United Kingdom

The country has thoroughly revised the regulatory requirements for the operation of the iGaming sector, which have been in force since 2005.

The list of new legal norms includes:

1. Deposits without loans. Since April 2023, businessmen are prohibited from accepting bets placed via bank credit cards and providing users with credit limits for the game. The rule is relevant for both land-based and digital projects.
2. Ban on advertising. During the quarantine period, it is prohibited to promote casino games on radio and television.
3. Daily gambling limit. Users cannot bet more than 50 euros in one day.

Germany

Since this summer, an interstate agreement will enter into force. It will legalise the electronic market. The new document spells out not only the rules for the acquisition of an online casino licence but also additional tax payments that must be made by those entrepreneurs who work in the virtual sector:

• 8% of the earnings from slot machines;
• 5.3% of the revenues from video poker.

Curacao

In 2023, a financial support agreement between the governments of Curacao and the Netherlands entered into force. According to the document, the legal norms of Curacao will be changed completely in relation to the control of the iGaming sphere.

A new instance will be created in the offshore zone. It will issue specialised licences and monitor the work of operators checking their compliance with new legal regulations.

All changes entered into force in September 2023.

Where it is Better to Launch a Casino

The Smart Money team has made a list of offshore zones that offer entrepreneurs the most attractive terms for launching gaming sites:

Malta

The country controls over 25% of the global iGaming sector and legalises it in Sweden, Austria, Finland, Canada, and Japan.

Curacao

This regulator has provided the most beneficial terms for running a business:

1. Simple legalisation. An application for the acquisition of a licence is reviewed within a couple of weeks. The government issues a single permit for all types of services.
2. Master licences for sale. Entrepreneurs are offered a convenient program for implementing network projects. They can establish several companies under one certificate and distribute their services by issuing sublicences to third-party organisations.
3. Low tax burden. The income from local traffic is not taxed. There is also no commission fee for the use of the real estate. The only mandatory rate is 2% of the turnover from foreign players.

The Isle Of Man

Those who have obtained a permit in this country receive several benefits:

1. The minimum tax rate. The only mandatory payment is 5% of the income from slot machines and other software based on the RNG system.
2. Customer protection program. The offshore jurisdiction has improved the legal norms to control the industry and the protection of market participants. To resolve any legal disputes, it is necessary to contact a special commission.
3. Access to the .com domain zone. It allows casino owners to work with most European regions, CIS countries, and other parts of the world where gambling is considered legal.

Panama

The jurisdiction has been issuing casino licences since 2002. It offers entrepreneurs the following conditions:

• complete absence of restrictions on the types of bets;
• exemption from taxes (including the commissions for using local real estate);
• the absence of taxes on proceeds from foreign players.

Georgia

The market has been completely controlled by the government since 2005. All types of gambling entertainment are allowed in the country.

Among the benefits of working in this region, we can name:

1. Tax advantages. Representatives of the betting business are exempt from mandatory quarterly taxes. Land-based casinos and gambling clubs with slot machines located in resort areas are not subject to income tax.
2. Simple legalisation. The application can be filed electronically without the personal presence of entrepreneurs. All they need to do is to choose the consideration speed: from 1 working day (the price of the service will be up to 800 dollars) to 20 days (for free).
3. The minimum tax rate. Georgia takes 4th place in the Forbes list of loyal tax burdens.

How Business Owners Can Adapt to New Operating Conditions

New programs for regulating the industry are aimed not at restraining the growth of the industry but at improving the quality of the operators' work.

The Smart Money team offers several tips that will definitely help you to keep profits and increase the level of confidence of the audience in the new realities:

• good marketing program;
• additional tests and software quality control;
• actions that are aimed at inspiring the audience to adhere to the principles of social responsibility;
• control of expenditures of customers in accordance with game limits for the quarantine period.

The Main Things about Running the Casino Business Abroad

According to experts, this year will be a very good time for the development of the casino industry. Tightening the legislation is a good decision, which will make it possible to reduce the shadow segment and increase the share of legal business by several times.

Key innovations in the regulation of the sector:

• Limitations of advertising campaigns. In many countries, they cannot be organised on television and radio.
• Reduced betting limits. For example, in Belgium, the new limit is 500 euros per day, and in Great Britain, casino visitors can spend up to 50 euros per day.
• Ban on playing on credit. The British government prohibited casino ads during the quarantine period and ordered entrepreneurs to block bets placed via credit cards.
• Casinos in play markets. Google has allowed games for money to be distributed through several branded play markets.

Our experts will be glad to provide you with more information on the specifics of the industry regulation. The Smart Money team will provide legal support of your project, including:

• recommendations for choosing an offshore zone;
• drawing up a step-by-step business plan;
• assistance in collecting a package of documents;
• an independent audit of the platform;
• support during the application filing;
• assistance in registering a legal address;
• opening of bank accounts and registration of reserve funds.

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