How can online gambling companies get a bank account?

It is quite natural that the widespread use of the Internet could not affect the sphere of gambling, therefore, more than 15 years ago, the first site entirely devoted to online gambling appeared. After the “pioneer”, such sites began to open one after another, and now Internet users have the opportunity to choose from a huge number of specialized resources.

What is the peculiarity of online gambling in comparison with offline games and casinos?

Online gambling is a real opportunity to try the whole range of gambling games at home: poker, various versions of roulette, baccarat, craps, blackjack and other options coexist peacefully on the same site. The offered number of gambling programs is huge, and at the same time, many resources are trying to stand out in the eyes of users: some focus on the themes of popular superheroes in comics, others try to create a believable version of real slot machines. The game is often accompanied by interesting sound and visual effects.

Online gambling has the following advantages over gambling in a real casino:

  • complete lack of interaction between the player and the dealer – the whole process is controlled by special programs;
  • clear and understandable rules and pay tables, which you can get acquainted with at any time;
  • the speed of the process (many online poker or blackjack players note that the absence of interlocutors greatly speeds up the game);
  • the ability to play directly in an online browser based on Java software. In this case, users are required to download special software or install a separate application.

Another category of gambling is betting on the outcome of real events (sports competitions, various competitions, and even elections). Online bookmakers are engaged in such activities, the odds of which can be much higher than the offers in traditional bookmakers in Las Vegas.

How do you make money in gambling?

Gambling allows affiliates to generate income according to the following schemes:

  • CPA (payments for a specific action). Most often, we are talking about registering a new player and replenishing his balance on the site;
  • RevShare. In this case, the source of the affiliate’s earnings is the loss of the players he attracted. Most often, the casino is ready to pay 20-60% of the amount lost by the user;
  • A hybrid model that involves combining earnings from losses, registrations and replenishments;
  • Sub-Affiliate. In this case, the source of income is not the players, but other affiliate marketers attracted to the affiliate program. The average payout is 5% of the partner’s earnings.
  • Gambling affiliate programs often have a large margin: income can range from a couple of hundred to several thousand dollars.

Target audience of gambling

Online gambling attracts users who are already tired of other entertainment. So, they are no longer interested in points in the ratings of online games and the struggle for virtual gold – there is a thirst for real earnings that online casinos and slot machines can satisfy. At the same time, there are categories that are not worth driving traffic to:

  • users under 23 years old, in whose real and virtual life there is already enough entertainment and vivid emotions;
  • women. This audience is not very suitable for classic online casinos. In some gambling affiliate programs, you can find special offers for women, but this happens quite rarely.

In which countries is gambling popular?

Speaking about GEO, it is necessary to point out that gambling is popular almost everywhere: in the CIS, Europe, and the USA. Quite good traffic conversion is noted when working with Russia, Ukraine, some members of the CIS, Italy. At the same time, Asian and South American countries usually perform poorly, and Tier-3 countries are traditionally difficult to work with, so it is rather rash to deal with them.

An important point: in some countries gambling is prohibited, therefore, when choosing a specific country, it is necessary to clarify how legal casinos are in any of their manifestations.

Opening a bank account for gambling: an overview of the procedure

The concept of “gambling” summarizes such spheres of activity as gambling, casinos, lotteries, lotto, slot machines. Due to the ban on the development of such industries in many countries, all well-known gambling corporations are registered on the Internet.

To launch an online casino, you need not only a good online platform with a well-thought-out, user-friendly interface. To successfully register a gambling business, you need a casino bank account. Not all banks allow online casino account opening. First of all, because of the strict requirements of the government. When gambling is prohibited in the country, the bank will not risk getting involved with gambling – there is a threat of losing its license.

Before carrying out the operation, it is necessary to register a legal entity, register a domain and create a gambling website. An application for the establishment of a corporation is submitted to the executive body of one of the countries where gambling business is allowed. The list of jurisdictions can be researched or provided by your lawyers.

Open a bank account for gambling: requirements for applicants

A complete and precise list of requirements is specified after choosing a jurisdiction and a specific financial institution. However, there are a number of general provisions that a legal entity must comply with.

  • The applicant must have a company registered in accordance with all the rules of the selected country;
  • When requesting to open an account for gambling, bank representatives may require information about the server and domain that relate to your site. In this regard, it is necessary to adhere to security rules and choose only trusted providers with a high level of data protection;
  • A legal entity is obliged to provide data on the receipt of funds to open a company in the gaming industry. Revenue channels will be monitored, so only truthful information should be provided;
  • The bank account will not be issued to a shell company, representatives of the financial institution can request the results of the latest audit of the site. For successful passage, it is necessary to purchase only licensed software, as well as to issue certificates for RNG and other automated programs on time. Registration of eCOGRA and RNG licenses is carried out by our company;

Why is a casino bank account issued? It is necessary to distinguish between two types of accounts:

  • Trade. Designed to manage operations. For example, transactions for winnings, withdrawal of money.
  • Bank. The bank provides acquiring for transactions with Visa, Mastercard, etc.
  • Even if there are no prohibitions at the legislative level, a financial institution requires a gaming license, and may request additional documents. Do not forget about inspections, regular tightening of requirements and other factors.

How to efficiently manage financial affairs, establish gambling business and create a casino account quickly? An offshore casino provides proper protection of funds and favorable conditions for optimization. The option attracts many entrepreneurs, because it is much easier to register a gambling company in foreign and offshore zones.

A package of documents for opening an account

To apply for a casino bank account, the client must have a legal entity. When preparing permits, attention is paid to:

  • Constituent documents that must be provided when registering a bank account for a casino.
  • Documents confirming the identity of the founders, as well as their place of residence.
  • Information about the financial condition of the business structure. To confirm the “honesty” of receiving funds, accounting documentation is suitable.

When choosing a financial company to which you plan to entrust your money, it is important to pay attention to the package of permits. It is here that most of the pitfalls are hidden. Our experts will help you understand all the nuances, save the client’s time and protect against possible financial problems.

What can seriously affect the opening of a deposit?

How to increase your chances of opening a deposit? When applying for an offshore online casino, it is worth focusing on a few important details:

  • Jurisdiction. Each state has its own requirements for those who intend to apply for a bank account for a casino. It is important in which country the official representative office of the gambling company is located. In some republics it is forbidden to open a bank account for a casino for foreign legal entities.
  • Choosing a banking institution. Deposits are needed not only for storage, but also to increase funds. Despite the absence of interest rates, the client can count on the minimum payments for the bank’s services.
  • A package of documents, requirements for the applicant. You have to spend a lot of time to find a reliable, profitable partner. In case you are dealing with this for the first time, contact the specialists, who can provide assistance with registration – a bank account for the casino will be opened promptly.
  • Bank requirements. Among the key factors that will help you make a decision when choosing a partner are opening times, the size of the minimum balance, the ability to manage a deposit on the Internet.

The documents are carefully checked by analysts. You may also need to translate documents into English or another European language. When filing remotely, copies are certified by a notary. Among the well-known jurisdictions that are ready to establish an account for a casino, there are such foreign territories: Curacao, Costa Rica, Malta, Nevis, Cyprus, Seychelles. In Europe, a license for online gambling business is provided by such states as France, Czech Republic, Denmark, Montenegro, Greece. No less popular are Canavek (Canada), Gibraltar, Macau (China), Guernsey (Great Britain) – here an online casino account is opened on the most favorable terms.

Opening a merchant account minimizes taxation, allows you to make payments without currency control.

Reasons to open a foreign bank account

  • 100% confidentiality. Business is protected from unreasonable, tedious checks by the state. As well as illegal actions of competitors. You no longer have to worry about possible blocking or seizure of your account.
  • Large selection of currencies. When opening an account with a local bank, it is impossible to fully conduct international activities. To make a currency payment, you will need to apply for a currency exchange, pay a commission. The no deposit option in the foreign financial market allows you to use any number of currencies at the same time.
  • Asset protection. All risks are diversified. The active use of multiple currencies minimizes risks. When the rate jumps, it is possible to transfer the asset to a more stable currency.
  • Access 24 hours a day. Financial flows are managed around the clock.

Online gambling activity is prohibited by the legislation of many countries. However, there are jurisdictions in which the related is strictly regulated, the creation of not only land-based, but also virtual casinos is encouraged. The largest and most prestigious global online gambling market is the European Union.

The business rules here may differ from country to country. The conditions for opening a current account for business activities in the gambling industry may also vary depending on the specific market in which the gambling company was licensed. Knowledge and understanding of nuances is important here.

To start an online gambling business, a licensed operator needs to create two accounts: a bank merchant. Opening a trading account is necessary to manage operations related to the activities of online casino customers, which are carried out in the countries that have legalized online gambling.

This refers to transactions on losses, winnings, withdrawals. In addition, such an account can be used as a mechanism for managing the company’s financial operations.

Assistance in opening a current account: mechanisms and ways to speed up the procedure Online gambling, like any other branch of business, must comply with the requirements of the banking sector and the legal regulations of the country.

To speed up the collection of documents, as well as minimize the risks associated with the operation of unreliable banks, many European companies hire intermediary specialists, such as Licensing Gaming, who have all the necessary information and resources. One of the prerequisites for opening a current account for online gambling in the EU is an objective Due Diligence procedure for understanding the company’s work.

It includes the assessment of investment risks and the investment object, a thorough and detailed examination of the firm’s activities, its positions on the compilation of a comprehensive market and income. In this case, the intermediary can assist in filling out the questionnaire correctly, collecting a complete package of documents, and clarifying additional requirements.

Card acquiring for online gambling Also, one of the “default” requirements for an operator who plans to conduct interactive gambling activities is to open a current account with acquiring and alternative payment systems (e-wallets) for gambling.

Since the opening of the first interactive gambling establishments, cashless payments have become an integral part of this business. We can talk about the benefits of the service for a long time. First of all, it is the client’s and directly operator’s comfort. and here internet acquiring comes into play, thanks to which a gambling operator gets an opportunity to organize and accept customer cards for payment in the shortest possible time, not only from desktop computers, but also from mobile devices.

To independently activate the service, the operator must:

1. provide conditions for placing this service on its resources;

2. search for a suitable acquiring bank;

3. conclude an appropriate agreement on acquiring services with a financial institution(s);

4. go through a number of procedures, including signing an agreement with the servicing bank(s).

It is necessary to understand that the system plays a key role when working in the remote gambling industry. From the operator’s profit. Therefore, it is necessary to turn to those services that have weight and reputation in a particular payment world market. Most often, Visa or MasterCard operators apply to connect to the Internet acquiring service. The popularity of these payment systems is due to the trust of citizens around the world. They are easy to use, do not involve high commissions and provide round-the-clock support for the bank.

How to open an online casino?

Step 1 – Get an Online Game License. This can come from any country where internet gambling is legal. Depending on the amount you want to spend, it can be registered in reputable countries like Lithuania, Switzerland, Malta or the UK, or in some less prestigious countries or territories like Gibraltar as a cheaper option.

Licenses from European countries are generally highly respected as these are the oldest gambling jurisdictions. Essentially, all gambling licenses are legal if obtained from a recognized and legitimate gambling licensing jurisdiction. In any case, buying a gaming license in a particular country does not mean that only residents of that country can access your online casino. People from anywhere in the world can still play on your site.

Step 2 – set up work with gaming software and a full-fledged website.

Note. There are several powerful options that you can easily accomplish with a combination of steps 1 and 2 by using the services of companies that specialize in the supply of white label gaming solutions – they package both the license and the software, as well as a ready-made full-featured web site. fly. Contact us for advice.

Step 3 – Build the infrastructure to build and serve your customer base – support staff, marketing and gaming operations.

Banks for gambling

Regular banks believe that the gambling business is associated with high risk and either refuse clients who gamble or make it extremely difficult to open an account. The few gambling-friendly banks that exist include Standard Bank in the Isle of Man; The Global Commercial Bank and the Northern International Bank in Antigua; Heritage International Bank in Belize and Bank of Valletta in Malta. We have connections with several gambling friendly banks including EMI and digital banks. If you find it difficult to open an account for your gaming company, we can recommend the right bank for your business depending on your jurisdiction, budget and the financial services you require.

UK bank accounts for gambling companies

While most major UK banks shun the gambling industry, a few offer business banking to gambling companies. When applying for a UK commercial bank account, most banks only accept UK registered gaming companies with a valid UK residency proof. Other UK banks are willing to accept international companies, but not always with full account functionality. All applicants will be required to undergo regular identity checks and money laundering checks. To avoid rejection of your application, please consult with us about the best UK banks for gambling companies.

What is the best bank account for the gambling business?

Getting a bank account for a gambling business can be tricky. Most financial institutions reject clients from high-risk industries, but a legitimate gambling business must have a merchant account and a commercial bank account. There are unique requirements to open a business account for a gambling business. The best bank account for a gambling business should be able to receive money from the company’s merchant account; accept multiple currencies; allow online banking; provide a debit card and multiple signature rights for the account. If you were unable to open a bank account for your gambling company, the specialists can help you with the process, collect the needed documents and follow the right steps.

Adam is an internationally recognized author on financial matters, with over 328.2 million answers views on and a widely sold book on Amazon

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