Online gaming business
Online gaming business, has grown into an incredibly lucrative sector. Low overhead expenses, a global demographic and high customer engagement, make online gaming a very profitable business.
This year, it is estimated that e-gamers will spend over £ 200 bn worldwide, with mobile gaming being the fastest-growing segment. By 2027, the value of the online gambling sector will surpass $127 bn.
Until recent years, when we would hear the word casino, many of us would think of luxury establishments, with an elegant and sophisticated crowd, enjoying drinks and playing a game of black jack, poker or roulette. (Remember, Ocean’s Eleven and Casino Royale?) And indeed such luxury casinos can be found in cities such as Las Vegas, Macau and Monte Carlo.
During the past two decades though, the gaming industry has gone through a rapid evolution. Especially so, after the arrival of the Covid 19 pandemic. Gamers, no longer have to visit fancy establishments to satisfy their gambling need. They can now do this from the comfort of their own home. Growing internet penetration and the use of smartphones by gamers, is driving the increase of demand for online gaming at a remarkable rate.
The regulatory framework of the gambling industry is also under change. Some jurisdictions are creating new opportunities for entrepreneurs who are ready to jump in the online gaming business, whereas elsewhere, the tightening of legislation, makes licensing a more challenging task. The choice of corporate structure, the right banking partner, are all important components to the success of an online gaming business.
Online gambling business: The key to success
The key to success in online gambling is to get the right corporate structure in place from the start. One of the first and most important considerations is where and how to obtain an e-gaming licence. You need to consider factors such as the countries where you plan to operate, and how much money you want to invest in your gaming licence.
Making the right choices early on helps companies to protect their business, follow all relevant legislation and prepare for their future growth. Online gaming companies also need to ensure that their setup for banking and payment processing is working as it should.
Photo by Daniel Watson
How we can help your online gambling business
Online gambling is a complex sector. Its regulatory framework is under change. Some jurisdictions are creating new opportunities for entrepreneurs who are ready to jump in the online gambling business, whereas elsewhere, the tightening of legislation, makes licensing a more challenging task. We will help you overcome the challenges and take advantage of the opportunities that arise. The choice of corporate structure, the right banking partner, are all important components to the success of an online gaming business.
We work with online gaming start-ups and more established firms who offer online e-sports, casinos, bingo, poker, lotteries and digital games.
If you're just starting out with your e-gaming business, we can help you structure and incorporate your business in the right way. We'll help you open a bank account and connect it to a payment processing agent.
We will help you obtain the proper gaming license for your online gaming business, based on your business model and your future objectives. We will suggest the best jurisdiction in which to apply both from a regulatory and a tax prospective.
We'll also help you comply with all the relevant regulations, at every stage. Regulators demand detailed documentation from online gaming businesses, and we will help you develop, fine-tune and deliver it.
Our service include:
- Choosing the ideal jurisdiction for your online gaming business
- Setting up the right corporate structure
- Applying for and obtaining gambling licenses from the relevant authorities
- Help with due diligence requirements
- Setting up banking and liaising with payment solution providers
- GDPR Compliance
- Terms and Conditions
- Consumer protection regulations
- Drafting commercial agreements
- Intellectual property protection
Free Consultation
Let's talk! Fill in the form below and schedule your 30 minute free consultation with one of our corporate lawyers, to discuss any questions about setting up your online gaming business.