How To Open An Online Casino
How To Open An Online Casino – A very interesting and profitable business idea is to start an online casino in the Netherlands in the near future. Until recently there were only 14 land-based casinos in the Netherlands. All of these were owned by the government, meaning that there was no access to the private sector gambling sector. However, as of 2019, these conditions have changed. This year, the Dutch Senate passed the so-called Remote Gaming Act, the main objective of which is the actual liberalization of this market. This in turn ends the state monopoly on gambling and opens up the possibility of online casinos in the Netherlands as well.
First, a little history about Dutch gambling. In the year Founded in 1974 In 1974, the National Foundation for the Exploitation of Games of Chance was the first to receive a casino license from the Dutch government on 17. December 1975. To this day, this is also the only casino license in the Netherlands. The company operates under the name Holland Casino and opened its first casino in Zandvoort on October 1, 1976. We are now a majority, but Holland Casino is still a state-owned company. This is due to some scandals related to gambling and related issues in the past.
How To Open An Online Casino
According to the official document, one of the main reasons why the government does not grant more casino licenses is that Holland Casino is the only casino that knows how to implement proper measures against gambling addiction. The unofficial reason may be that competition means that the state gets less revenue because of its competitors. This reduces the profits of the Dutch casino and thus the Dutch state. In any case, the prevention policy against gambling addiction or money laundering does not seem to work very well. However, the Dutch government has adopted a new law, in which private casino ownership will be completely possible.
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To give some examples; The director of a famous car company once gambled 23 million euros in a Dutch casino. However, he kept coming back to gambling and was even rewarded for this fact. There is also some controversy over the ATMs in the building that allow you to withdraw up to €2,500. If it is to prevent gambling addiction and similar problems, this is not considered a responsible behavior. The casino is still open, but now you have to compete with new players. The same strict rules, as well as newly established rules and regulations for the private sector, will apply.
As a result of the aforementioned controversial issues, the Dutch Cabinet (with Mark Rutte as Prime Minister) has decided that gambling and betting should no longer be part of the government’s official business. Therefore Holland Casino should be privatized and other private sector companies should also be given the opportunity to enter this market. The only exception is the Dutch state lottery (Staatsloterij), which remains in state hands. Although it lacks the hassle and hassle of a real casino, the lottery generates huge amounts of money every year.
Another important role that may play is the influence of the European Union (EU) in the Dutch state’s decision to privatize the casino sector. Although EU policies on gambling are more liberal than national policies, the EU only treats gambling and betting as commercial activities. The EU is influential and its incentives are generally followed by its member states. Many countries are upset about their monopoly laws and behavior in the gaming sector. Licensing by the Dutch government is highly controversial, but only state-controlled institutions can be competitive. This year everything will change.
As for expectations, the remote gaming law will finally come into effect in 2021: interested entrepreneurs can apply for a license starting last year. This license is a strict requirement for working in this sector in the Netherlands. An interesting difference from the previous laws is that the new law places taxes on operators instead of players. This means that a 29% tax rate applies to all online gambling imaginable. The idea is to increase tax revenue, as prizes below €449 have been tax-free until now.
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With the rise of illegal (online) gambling in recent years, the Dutch government decided that players needed some protection from shady corporations. Therefore, the law aims to provide a fair environment for the players and stop cheating. This is why the new casino rules are so strict to facilitate these goals. Operators are required to comply with these strict rules, otherwise they cannot do business. One of these measures is the necessary connection to a central exclusion registry of all operators to guarantee that certain blacklisted players cannot play. Another measure is to closely monitor dangerous behaviors. Each operator must also invest 200,000 euros per year to prevent gambling addiction. In addition, the operators are required to maintain a monitoring database that continuously shares all activities on the website with the “Kansspelautoriteit” (KSA), the Dutch organization that regulates all gambling establishments.
Therefore, before setting up an online casino in the Netherlands, you need to obtain a gaming license. To realize this, you need to look at all the requirements honestly and see for yourself that it is an achievable goal. The biggest problem for most will be the required investment; Including all expenses, a license is a huge financial burden. However, if you are already a player in the industry and enjoy having a healthy capital, it can be a very solid investment as the market is about to open. The most important thing is to stay within the laws of the Netherlands, otherwise you could face heavy fines and jail time at best, including winnings at worst. The licenses in the Netherlands have not yet been finalized, but it is already known that the costs of the license application will be around 50,000 euros by the gaming commission.
As mentioned earlier, the application for a game license is 50,000 euros and the only thing you will get for this money is that your application will be processed and a judgment will be given. This gives you no guarantee that you will ever get permission. In addition to these one-time expenses, there are other important expenses listed below. Please note that in some cases these are still estimates.
If you want to enter the Dutch casino market, you must not only show loyalty to the Dutch legal system, but also to its users. This means you must provide transparent services with secure payment methods. This includes direct deposit, but also major credit cards. However, there are many options in the online casino community such as PaySafeCard, Trustly, Neteller and Skrill. There are also many other casinos in the European Union such as Malta. These casinos accept euros and we strongly recommend that you offer that option as well, which is the national currency of the Netherlands. It also prevents Dutch players from paying conversion fees.
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If you want to invest or compete in an entirely new national gambling sector, you should seriously consider investing in the Dutch casino market this year. There is still an option to purchase a license as the applications are not closed. To get this permit, you need to meet certain requirements and also invest the cost of the application. If you need more information on specific legal issues and regulations related to gambling and Dutch casinos, Intercompany Solutions can help. We can also take care of the entire company registration process, advise you on your casino’s payment options, take care of your accounting and ensure you comply with all legal requirements at all times. If you would like to know more about our services, do not hesitate to contact us for more information or a personalized quote.
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According to various gaming industry specialists, online casino corporations will begin to grow in the coming years. For this reason, now is the time to enter the online gambling industry. But what is the easiest way to open an online casino?
The most important step in starting an online casino is to get high quality online casino software. This is because the gambling software creates and determines