Because gambling licensing and compliance varies significantly from jurisdiction to jurisdiction, gambling companies should start the process by applying best industry practices to their business models. This means adopting standard internal control procedures covering all the best practices; especially those that entail testing, player protections, AML, age and geolocation verification, problem gambling, etc. Inevitably your company may need many licenses, especially company’s that are targeting the US. Nevertheless, we can advise your company on how to obtain any license from something as simple as Curacao license to an application before the New Jersey Gambling Commission. Each process is different and each jurisdiction will have different requirements including fees, partnerships, probity and individual and corporate investigations; we are here to help you navigate those processes.
We can even advise your company or startup on licensing strategies including the best jurisdictions to begin your expansion (and how to streamline future applications).
Whether you are seeking licensing in Asia, Europe or the US, we are available to help you get started.
Whatever your needs, we have an advisory package to get you started.
Probity and Investigations
Virtually all jurisdictions will perform individual and corporate due diligence (i.e probity checks). This is a traditional part of gambling, since the key element of regulation rests on protecting the industry from criminal influence.
All major white listed jurisdictions will require that entities, UBOs and key employees pass probity checks. When necessary, at Simply Alpha Capital we include a basic probity review in all our licensing advice, to help ensure the success of our clients applications. Such per-probity checks also help the applicants prepare for a successful outcome.
In addition to applicants we also can provide outsourced reports for licensing bodies.
We offer a probity and basic investigation packages to help ensure successful outcomes for white listed jurisdictions, which, in some cases, can be submitted with the application to the regulatory body.
More and more jurisdictions and licensing and taxing gambling every year. Sadly, each jurisdiction will have different procedures for obtaining a license, even of the core principals of regulations will exist within all jurisdictions: probity, internal controls, game testing, data center security, problem gambling, AML/KYC, protection of player funds.
The best way to deal with multiple applications is for companies to adopt strong best practices, and maintain up to date records on the financial condition and probity of key employees.
This is why our compliance products are so important, because internal controls are the keys to successful licensing and ongoing compliance.
Our team will maintain a secure data storage for each of our applicants to further assist with the ongoing needs of further applications for our clients.
We offer an ongoing service for clients expecting to make multiple applications as well as a one off fee for individual applications.
Every situation is different. We can create packages to cover common situations, but not every client will have the same needs.
As a result, we provide hourly rates for individual consulting to meet all your licensing needs.