Belize now offers one of the most affordable gaming licenses, Slotegrator says
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iGaming content aggregatorSlotegrator is offering jurisdictional advisory services to help operators get a gambling license in Belize in 2022, which the firm considers as one of the industry’s most affordable options.
Online casino and sportsbook operators face a steep uphill struggle when it comes to establishing a merchant account without a license, which Slotegrator considers necessary when it comes to conducting transactions and cooperating with high-quality software and game providers.
"Stability pays dividends. While some brands opt to skip the license and take their chances with being shut down by authorities, most recognize that the money spent on a license is an investment in their company’s future," the company argues.
A license from Belize’s Gaming Control Board (GCB) has gradually become one of the industry’s most affordable ones. Originally, the annual fee for a license was $50,000, but in 2004, this was reduced to just $15,000. As of 2022, it’s set at an even lower $10,000.
As with all licensing jurisdictions, applicants have to satisfy a list of requirements. One of them is a $500,000 depositto be held in trust by the GCB as indemnity against fraud or other violations. Companies must also be registered in Belize, and any deposits or reserve withdrawals must be reported to the GCB.
According to Slotregrator, a final point to consider is that all Belize gaming licenses need to be renewed on the same date (March 31) each year. "To get the most value for their money, operators should apply as close to this date as possible," the company suggests.
The aggregator also notes that there are other Caribbean countries offering popular gaming licenses, like Panama and Curaçao, and prominent regulators like the UK and Malta, each with their own advantages and disadvantages, which the company's experts and sales managers are able to provide professional insights into as well.
