New Rules for Casino Licensing in 2024

The entertainment industry is one of the most dynamic and fastest-growing economic sectors in the world. The iGaming vertical not only constantly promotes various technological trends but also sets the leading standards of quality and compliance in the legal sphere and security matters.

The past and this year have become an extremely turbulent and dynamic period in the regulatory segment. Most jurisdictions have introduced additional rules and significantly tightened requirements for all market participants.

Experts of the Smart Money studio will talk about key innovations in the field of casino licensing. To get more information about the nuances of deployment in specific regions and order a turnkey project development, please contact our managers.

Order service

History and Evolution of Bonuses

Early 1980s

The emergence of the first incentives in the form of electronic slot machines with an additional display.

Late 1990s

The spread of the Internet and the development of the mobile iGaming segment changed the bonus policy.

Types of Bonuses in Online Casinos

No-Deposit (Welcome) Bonuses

Ways to receive:

• Creating an account
• Passing identification
• Subscribing to email newsletters
• Installing the app on a smartphone
• Inviting a friend

Examples:

• Free spins
• Free bets
• Cash rewards

Deposit Bonuses

Examples:

• For the first transaction (fixed amount or percentage of the deposit)
• For the second and each subsequent deposit

Restrictions:

• For example, the bonus cannot be 100% if the player deposits more than $500

Cashback

Options:

• Percentage of the total amount of bets
• Percentage of lost bets

Compensation amount:

• Ranges from 2% to 5% initially, increases with the player's achievements

Tournament Prizes:

Examples:

• Cash prizes
• Free spins and respins
• Increased cashback
• Access to premium rounds

Promo Codes and Special Offers

Promotions:

• Tickets to events (concerts, forums)
• Branded items (clothing, tableware, accessories)
• Valuable gifts (household appliances, sports equipment)
• Promo codes for discounts with partners

Benefits of Bonuses for Players and Operators

Attracting Audience

Goal:

• Increase organic internet traffic and improve conversion rates

Actions:

• Registration
• Account replenishment
• Launching slots

Retaining Clients

Newcomers: Starting free spins and minimal cashback

Regular users and high rollers: Premium products and increased compensation

Improving Image

Factors:

• Trust of players, brand advocacy by high rollers and well-known players

Promoting Games

Methods:

• Accruing bonuses on little-known slots and game collections

Example:

• Young studios provide bonuses on their content

Enhancing Advertising Campaign

Strategies:

• Interesting and original marketing approaches

Examples:

• Joint promotions with B2B partners

Wagers on Gambling Sites

Reasons for Use:

• Protection from bonus hunting
• Increasing session duration
• Enhancing liquidity

Conditions:

• Number of bets to be wagered
• Additional requirements (type of slot machine, time to spin)

Legal Aspects of Bonus Provision

Regulation in Europe. Restrictions:

Sweden Bonuses limited to 100 SEK ($9.43) per week per client

Denmark, France Limits on bonus amounts and usage conditions

Germany Limits on the number of free spins and spin speed

UK Ban on deposits from credit cards

Area of ​​Responsibility of Gambling Commissions

The work of entrepreneurs is controlled by specialised government agencies.

Their tasks include:

• organisation of a transparent business environment for B2B industry representatives;
• monitoring the operators’ activities;
• checking the compliance of casino brands and the issuance of permits for legal work in the niche;
• consideration of complaints and response to violations of established legislative norms;
• information work, and other operational responsibilities.

Another important task of the authorities is the development and implementation of improved market regulation standards. All changes are controlled at the state level and covered by the law.

Updated Kahnawake Licensing Program

The jurisdiction’s controlling body is located in the Canadian city of Quebec. This region was one of the first in the world to see the potential of online gambling and begin to grant permits for virtual casinos.

Its greatest advantage is the most stable and safe business environment. The basic regulatory rules have not changed for many years, allowing project owners to create sustainable long-term strategies.

Key benefits of buying a Kahnawake certificate in 2024:

• absence of corporate tax and fees for the opening of entertainment locations;
• wide coverage and ability to work in any market outside the United States;
• large selection of available payment solutions;
• high standards of compliance and security.

At the moment, filing an application for licensing will cost the applicant $40,000. This also includes the expenditures for completing the Due Diligence procedure and the first annual fee.

The maintenance of a permit costs $20,000 annually, and the price for extending its validity is $5,000.

The regulator requires a standard package of documents but may also ask for additional information about key employees of the company.

The list of basic data that is necessary to apply for a licence in Kahnawake in 2024 includes:

• request for CPA authorisation;
• complete information about the legal entity;
• personal info (a director, a shareholder with more than 10% of the brand’s shares, and key business representatives must fill out the form);
• presentation of the gambling platform’s control system;
• a list of management personnel with their full biographies and resumes (these documents are requested only for public corporations);
• financial reports for the last 3 years of operation in the segment;
• a letter from the IGL Master Licence holder confirming the person's knowledge and consent to the addition of a new licentiate.

The IGL is issued to a single company that takes the responsibility for selling sub-permits. Since 1999, the Mohawk Internet Technologies (MIT) state monopoly has always been this supplier.

Large-Scale Transformation of the Curacao Regulator

The online entertainment niche on the island is controlled by the Ministry of Finance and FIU. In 2019, the local government also created a Gambling Control Board. The department's task was to combat money laundering and terrorism sponsoring.

The changes in the legal field of the country did not end there. Larger transformations await the local legislative structure in September 2024.

The island's authorities have announced their intention to create a new body, the CGA. It will take over the responsibilities of the previous organisation, and the activities of the Gambling Control Council will be abolished.

The new agency will issue 2 types of certificates: for the B2B segment and B2C enterprises. Previously, operators could obtain a single permit for digital data processing.

Submission of applications for new types of documents started in November 2023. But until the legal framework has received final approval, owners of the licence’s previous versions can continue to work according to the earlier established standards.

Requirements for businessmen who want to receive a casino permit in 2024:

• hiring a director and 3 permanent staff who work on the island;
• passing enhanced control to combat money laundering;
• payment of a mandatory annual fee of €62,500.

Security Assurances from the Isle of Man Regulator

The jurisdiction is one of the most reliable in the gambling segment.

Among its achievements in the field of online casino certification, it is worth mentioning the following:

• in 2015, the local regulator included digital currency in the Anti-Money-Laundering Act;
• since 2017, all operators that hold the island’s permit can accept settlements and pay out prizes in digital assets;
• the state was the first in the world to legalise a blockchain-based lottery;
• in 2019, the authorities launched a voluntary licensing program for the suppliers of gambling content and platforms based on decentralised technologies/tokens;
• a separate body, the Isle of Man Blockchain Office and Sandbox, was created;
• the world's first international business centre was built to work on the regulatory and certification structure for investment crowdfunding platforms.

The fee for the request consideration is €5,250. Further tax rates and other deductions are calculated individually depending on the enterprise’s turnover.

Application processing in the Isle of Man takes from 10 to 12 weeks approximately.

Updated Gambling Legislation of Georgia

The casino industry is one of the most effective and extensive economic segments of the country’s domestic market. The entertainment vertical is closely related to the tourism business.

Until recently, only offline locations could be opened in the region, so land-based halls with slots have become an integral element of resort areas throughout the state.

The attention to the gambling segment from the population was so great that in 2022, a law restricting access to establishments that offer games for money to more than a million residents was adopted.

The following categories of customers were forbidden to visit casinos:

• persons receiving any type of government assistance;
• people who hold positions in the public office;
• local citizens under 25 years of age.

In 2023, the authorities allowed the launch of online casinos. Initially, only owners of already operating stationary locations could be engaged in this activity. It is expected that such a restriction will be lifted, and the Georgian online market will become accessible to everyone.

In parallel with the digitalisation of the entertainment sector, the state apparatus raised the tax rate for niche representatives to 70%. There will also be an additional fee of 15% on the profits of the gambling business.

The annual deductions for maintaining a local certificate is €1.6 million.

The Main Things about Legislative Changes in iGaming

Major Legislative Changes in the iGaming Sector in 2024

New Licensing Rules

Kahnawake

Application fee

$40,000

(including the first annual fee and Due Diligence)

Annual maintenance cost

$20,000

License renewal fee

$5,000

Advantages

No corporate tax, a wide range of payment solutions, high safety standards

Curacao

Annual fee

62,500

New requirements

Hiring a director and three employees on the island, enhanced anti-money laundering controls

Transformation

Creation of the new Curacao Gaming Authority to issue B2B and B2C licenses

Isle of Man

Application review fee

5,250

Processing time

10–12 weeks

Features

Inclusion of digital currency in anti-money laundering laws, legalization of blockchain lotteries, support for blockchain technologies

Georgia

Annual license fee

1.6 million

New tax rate

70%, plus an additional 15% profit tax

Changes

Authorization to open online casinos, with plans to lift restrictions on opening only land-based establishments

Main Tasks of Gambling Commissions

Control

1. Ensuring a transparent business environment
2. Monitoring operators and issuing licenses
3. Handling complaints and responding to violations

Innovation

1. Implementing improved regulatory standards
2. Developing new safety guarantees

The industry continues to be one of the fastest-growing segments of the global economy.

Key trends in the development of the niche in 2024:

• All leading regulators see the potential of the digital market and are actively introducing new regulations to control this sector. The Isle of Man Gaming Commission has achieved the greatest success. It has fully legalised betting in virtual currency and created a separate business infrastructure to encourage providers who work with blockchain.
• The main task of gambling jurisdictions in 2024 is to improve the quality of services and create new security assurances. A major transformation of the legal structure is currently taking place in Curacao. The authorities intend to tighten the procedure for monitoring the operators’ compliance and create the most transparent commercial environment that has no analogues.
• The Georgian casino market will soon become more open to digital commerce. The local regulator is considering the possibility of lifting previous restrictions and allowing entertainment sites to be launched without the need to first open a land-based business.

You can learn more about the features of working in different regions and order a turnkey online platform from the Smart Money studio. Our team constantly analyses the industry situation and studies the latest trends.

We offer the best solutions for guaranteed successful deployment: scripts, lotteries, poker rooms, blockchain casinos, free demo versions of gaming sites, and much more.

Buy