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Best jurisdictions for crypto gambling

Thursday, 23 March 2023

Cryptocurrency gambling is gaining popularity due to the many benefits it offers. However, it is important to consider the legal aspects when it comes to gambling with crypto, which in many cases can include acquiring an online gambling license.

  1. Malta

Malta is a well-established destination for online gambling operators and has been offering licenses for over 15 years. The jurisdiction has also been at the forefront in adopting the use of blockchain technology by developing a regulatory framework for ICOs (initial coin offerings). As such, Malta has become a hub for blockchain-based companies, including crypto casinos.

Crypto casinos that operate in Malta are required to acquire a license from the Malta Gaming Authority (MGA). The MGA’s guidelines stipulate that operators must follow strict requirements for transparency, fairness, and customer protection.

  1. Curacao

Curacao has been a traditional jurisdiction for online gambling companies for decades. The country began issuing licenses for online gaming in 1996, and since then has issued thousands of licenses to casinos and sportsbooks.

Crypto casinos in Curacao follow the same licensing requirements as traditional online casinos. The Curacao eGaming Authority is responsible for regulating iGaming in the country, and all gambling operators must adhere to their rules and regulations.

  1. Gibraltar

While Gibraltar is best known for finance and banking services, it is also a popular destination for online gambling operators. The country offers tax incentives and low corporate tax rates, making it an attractive jurisdiction for crypto gambling.

Crypto gambling operators in Gibraltar are required to obtain a license from the Gibraltar Gambling Commissioner. The commission ensures that all online gaming activities are conducted fairly and transparently, and that player protection is maintained at all times.

  1. Isle of Man

The Isle of Man is a self-governing British Crown dependency located in the Irish Sea. The country has been issuing online gambling licenses for over a decade and has embraced crypto gambling, making it a popular destination for blockchain-based companies.

The Isle of Man Gambling Supervision Commission is responsible for regulating all online gaming activities in the country. The commission’s role is to ensure that all operators meet the high standards of fairness and player protection required by the jurisdiction.

  1. Costa Rica

Costa Rica has been a popular destination for online gambling operators for many years due to its favorable tax laws and low regulations. The country does not have a specific licensing authority for gambling activities, and as such, online casinos operate under a general business license. This is great for crypto gambling operators but it means that fiat cannot be accepted as all banks and payment providers require a license before partnering with gambling operators. If you just want to offer crypto gambling, Costa rica is an attractive and low-cost option.

  1. United Kingdom

The United Kingdom is one of the most established online gambling jurisdictions globally and one of the first to embrace crypto gambling. The country offers a robust regulatory framework, and all crypto casinos operating in the UK must hold a license from the UK Gambling Commission.

The UKGC is responsible for ensuring that all operators follow strict guidelines related to player protection, fairness, and transparency, making the UK a safe and secure environment for online gambling activities.

Final Thoughts

When it comes to crypto gambling, the regulatory environment is of utmost importance. Choosing the right jurisdiction for your online gambling activities requires careful consideration of licensing requirements, the regulatory framework, and the level of player protection offered.

While there are many jurisdictions to choose from, it is important to select a regulatory environment that offers the highest level of protection and transparency. Narrowing this down can be hard, that’s why it’s advisable to partner with Fast Offshore. We have more than 26 years of experience in the online gambling sector and are ready to assist you with all your corporate, regulatory and compliance needs.

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