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Casino and lottery laws

Discussion in 'Business & Tax Advice' started by zackster990, Feb 4, 2009.

  1. zackster990

    zackster990 Newbie

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    Ok I want to set up a lottery site but I heard that it could be illegal... Are there any ways around it being illegal and if so what are they? Secondly if I upload an online casino right now would it be illegal and what are the ways to make it legal?

    Thanks in advanced
     
  2. innocent

    innocent Junior Member

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    Lottery site would definitely be illegal.....even if it wasn't the number of governmental hoops and tax issues you would deal with would overwhelm you. Just my two cents....but...spend your time and energy elsewhere.
     
  3. Infinity

    Infinity Registered Member

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    Couldn't agree more on that. Casino and lottery regulations as well as tax law that accompanies it make this kind of venture rather pointless and I strongly advise to focus your efforts on a different project that is more likely to bring profits without the risk of becoming engaged in an illegal activity.
     
  4. ximscreamingx

    ximscreamingx Power Member

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    Simply incorporate your casino's business structure in a country that allows gambling. Aruba seems to be a pretty hot spot for online casinos, NTM their taxation laws are much more lax than the states.

    Make sure it's hosted in the same country as well.
     
  5. nyxxo

    nyxxo Registered Member

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    whats wrong with what hes trying to do?
     
  6. berrycorp

    berrycorp Guest

    i'll like to support ximscreamingx on this...

    open a company on offshore location that suits u best... they wont ever tell anybody who owns the company and stuff...

    then u can open a bank account and stuff on that company's name... n set up everything..

    it wont be a problem... but ya it will cost a bit.. setting up the company will be something like $1200+ i believe and then there will be $500+ charges for bank account..

    so yes it can be done but only if you are "serious" enough!
     
  7. bookie988

    bookie988 Newbie

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    cheapest place for licensing is costa rica.
     
  8. phlex

    phlex Registered Member

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    In most countries it's not legally possible. Countries like Malta or Gibraltar offer gambling/lottery licenses, same goes for the Isle of Man. But you have to consider that you can't just put together a bunch of scripts: it's regulated (keyword is player protection), quite complex and last but not least it is expensive, you have to get your software certified and so on - and the licenses aint cheap either. You need a very solid budget to pull that.
    As an example, forming a company plus gambling license on the IOM costs a few hundred thousand EUR in total for the first (3?) years.. and it takes about 6 months minimum in total. Malta/Gibraltar's a bit cheaper, though, as far as I remember.

    A few countries in South America offer licenses as well. It's cheaper and in some places there is actually like no regulations, no certifications needed or anything. So yeah, that might ease things. But then again, licenses from those countries have a very low reputation among players... because most of the scammers have their companies over there (big surprise). Keep in mind that you want the hardcore players, only a very few of the players are really interesting when it comes to making profits. And those guys can be picky. Still, you'll a few thousand bucks to set that up. And you should get some professional advice to make sure it won't bite you in the ass when it comes to taxes and laws.

    Bottom line: not as easy as people might think, not really cheap... you should only do that step if you mean seriously business.
     
  9. dragonworks

    dragonworks BANNED BANNED

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    If you hosted in usa, it is illegal. Rest it all depends upon your hosting provider.