The online gambling industry is going from strength to strength and through the incorporation of innovative and dynamic technologies, it’s growth is set to continue exponentially for the foreseeable future.
At a time when many market segments are struggling, iGaming is weathering to storm and finding new ways to meet the needs of clients all over the world. This has led to an uptick in the number of individuals requesting information about an online gaming license.
Not only is online gambling extremely popular with all demographics, but it is an extremely profitable business model for those that choose to launch gambling platforms or apps. In an industry that is booming and showing no sign of slowing, there has never been a better time to turn your dream of opening an online gambling company, into a reality.
“According to ResearchAndMarkets.com, the current estimates state that the gambling market as a whole is growing at an annual rate of almost 6% and is expected to be worth over $565.4 billion by 2022.”
This is an indicator that the time is right for starting or investing in the online gaming business. Any business operating any form of online gambling is required to obtain the necessary license or authorization to do so. It’s advisable that every company wishing to operate a gambling or gaming-related business, should apply for and acquire an offshore gambling license.
Possession of an online gaming license allows the license holder to conduct the following business activities:
- Online Casino
- Sports Betting
- Online Poker
- Online Lotto
- Online Bingo
- Live Betting
- Live Table Games
- Fantasy Games
- And all sorts of games of chance
In addition to this, licenses can also allow the provision of ancillary iGaming services to other online gambling companies. It is best to discuss your plan and idea at length with a corporate service provider such as Fast Offshore, to make sure you apply for the correct licensing for your situation.
Applying for an online gambling license is a complex and lengthy process, due to the fact it is a regulated industry. But don’t let this put you off. Not all licenses are created equally and there are options to suit every deadline, budget, and requirement. By taking professional advice and going through the process with your business service provider, you can ensure you make the right choice and take all the steps efficiently and smoothly.
Remember, all online gaming platforms must be registered and compliant with at least one jurisdiction. Not doing so is a huge risk for you, your company, your reputation, and the reputation of the industry as a whole.
In an industry that is booming and showing no sign of slowing, there has never been a better time to turn your dream of opening an online gambling company, into a reality.