Topic: Do i need a license if i want to create a crypto gambling site? - page 3. (Read 1116 times)

I think he can choose the hosting company that doesn't prohibit gambling so he can register the domain and the hosting at the same time and he can continue to build the website. but if he wants to buy the gambling site, then maybe he can move the hosting with the other hosting that doesn't have any prohibition about gambling site. but it is better to have a license to run gambling site because you will be safe to manage your gambling site and don't have to worry.

I really don't know how this licensing thing works. From what I understood from different topics on this board, o run a reliable casino it is advisable to get an online gambling license. You can choose different license jurisdiction including Curacao, Malta, UK, etc depending on where you host your casino. License gives you a better reputation and customer loyalty.

clearly the license is very necessary if you really want the site to run smoothly and last a long time if it can be accepted legally by your country. with the existence of a government license, automatically the site that you make can be safer because it has legal permission

Depends on the country you found the company.

But all and all, you don't "need" one. You can stay illegal, not pay taxes and be off with it.

License would come handy for the potential customers.

it seems like i would be able to do it without a license but i will be as upfront with the people that would use my service as possible.

transparency is key in the crypto world.

I understand your point cause the cryptocurrency community don't like been use, cheat on not to talk of been scammed and with the exclusion of that the rules and regulations of every gambler is never gamble at any blackguard, scamp, vilian or a scoundrel gambling sites. So if you want to more traffic/player you need the license and keep your record clean.

i don't want to tarnish my name in the crypto scene. i would never just take peoples money and say "sorry dident work my money now"

Edit: what i mean by that is. if you get known as the shady guy or scammer in the crypto space you will never find any reputable work in the space. and i would really want to avoid that.

Oh you want to ICO huh?
Shameless plug, we hate the scamquitters, glad you don't want to be one...
https://www.cryptogamblingsites.com/crypto-news/the-ico-scam-blueprint/

thank you so much for your input and support

thank you so much for the input. yea my plan would be to gather funds thru an ICO but i want to have all my facts down before i even start that. if i do anything in the crypto scene i dont want to be a scamquitter like so many have been before .

Yes, you can do some research before posting here but I guess its okay in every sense. One of the main reasons why we have this forum is to exchange our ideas in every possible way and what you did proved that. You can always post here first with any valid point or question and no one will criticize you about it.

Really like this idea. This would greatly benefit those peeps who want to gamble using different coins and still be hidden in terms of their identities. If you'll gonna add fiat, there's a high chance that you will comply with KYC regulations and some of the players that I know don't want that. Go with that path and I think you'll be right with it.

If you are "targeting" Denmark players, you register a company in Malta and run the site from there. Check what all the danish casino sites are doing. A bunch register company in Malta to pay 15% tax on revenue instead of 45% in Denmark. They still pay tax on Denmark players with the Danish license but not taxed on other countries players at the Denmark tax rate.

Every "legal" online casino in Denmark has a license with Spillemyndigheden though. You may not be allowed to get a license with just crypto if you want to be a Danish casino, lots of rich companies avoid that license cost and Denmark - it is high license cost.

The "dodgy" way is to get the curacao, Khanawakee or Antigua license and run casino from there. Can target any country but the people behind the casino have to hide basically because those countries regulators will want to know who is offering illegal gambling in their country.

The "legal" way requires a lawyer in every legislated jurisdiction to make sure you are complying with the license requirements there. That can add up with Italy, Spain, France, UK, Belgium, Germany all having different regulatory requirements and licensing rules/costs. Then there are the US "state" licensing laws....

It is a rabbit hole once you start offering online gambling, this is why we are currently in a "fight" with an ICO that knows nothing of legislation worldwide here https://bitcointalksearch.org/topic/m.43725038

Thank you all for the input.

i would like to answer a few questions i saw coming up quite a bit.

Did i do any research into this before i asked on the forum? No. i did not do any research and i used the UK as a place simply for reference. in hindsight i should have done some more research before posting here.

Will you be accepting fiat? if i were to have a gambling site dedicated to crypto i would more than likely not offer fiat deposit or withdraw but rather a bunch of cryptos. (not just btc/eth)

Is gambling allowed in my country? as i understand it gambling is allowed in my country if you have a license (i don't mind telling people i am from Denmark). if that would be an issue could i not just host the gambling website in a country that is more lenient with their gambling restrictions?

if you have any more questions for me i would answer them!

this is only a brainstorm stage currently, but if i figure out how to operate everything without sending myself to jail or in other troubles there is a decent possibility that i will work something out.

Yes he need to check the status of gambling as well as the crypto currency status in his country if he want to create a crypto gambling site,but there is no need to get license from all the countries I think the it will be enough to get license where the origin of that site.If gambling is illegal in that country then he need to move to another country to create his business.

maybe it is better to get a license for creating a crypto gambling site so he can feel safe from the law. I think if he creates a gambling site, his visitor is not just come from the UK but he can have a visitor from all country because once his site is online and he can make a good promotion for his gambling site, it will attract many people to come to his site. and if he has a license, then he doesn't have to worry about anything and he can run his gambling site without any problem.

Basically, he have to check with legal advisors from his country but if gamble site or Crypto currency is not legal in his country he can open the gamble business and get the license by going to a crypto friendly country to start his business and get the license there. Remember, when Chinese government was acting weird towards crypto currency then? A lot of crypto currency exchange owner that have money to move and continue their business did so.

He probably chose UK from doing zero research and has no experience with the regulation in different jurisdictions.

Forum is worst place to learn, everyone knows op has to go spend the money to get answers for specific situation.

Yes,i also saw a lot new projects picking up their license from Maltas, Japan, Curacao etc and I never knew that UK is so picky and terrible to get license for e gamble owner. However, I advice to OP to get UK license because he/she was targeting the UK customer and getting a license from UK could also boost customers trust. I bet, the OP choose UK because the European side love sport gambling.

If you look at most other gambling sites, you see that they usually pick Malta or Curaçao as a base for their operations.
You're right that the UK wouldn't be the best place to get your license.

Here's an extensive resource with more information about gambling regulations in Malta:
https://www.mga.org.mt/legislations-regulations/

Here's similar info for Curaçao:
https://iclg.com/practice-areas/gambling-laws-and-regulations/dutch-caribbean

Every country have different policy against gambling so you should ask about them.
As long as it's not restrict your gambling activity, I'm sure you will got your license without worry.

Of course license become primary need before start any operation !