Gambling has been a passion among the people and continues to possess the same gravity in the present time as well. Casinos offer a decent platform for gambling lovers to live up their love for the game in a legitimate manner.
Casinos have gradually transformed from the traditional land-based premises into a whole new digital version loaded with online casino software offering access to multiple gambling sites meeting the varying requirements of the players.
The Casino game business is an extremely profitable prospect that can leave you handling millions and billions of money in very quick succession. Although casinos/gambling is essentially illegal in Malaysia and Thailand, the fact that the countries are blessed with some of the magnificent Casinos offering the most advanced casino game software opens up horizons to dive into the business as an online casino affiliate.
Please note that being a Muslim country, gambling is banned in Malaysia but as per the Betting Act 1953, there is no clause stating owning an online casino game software website is illegal.
Similarly, gambling is illegal in Thailand and is limited to only horse betting and National Lottery. Any person caught gambling is subject to face serious legal penalties. However, there is no clause regarding online gambling.
Legal Issues about opening up Online Casinos:
- An online Casino is subject to licensing, which can be sought from the European or offshore countries. However, each of the alternatives comes with varying factors comprising duration, fees, and reputation.
- Each country has different specifications such as varying fees and periods for offering the gaming license.
- The next step is to register your legal entity i.e. your gaming company followed by opening up of bank account and co-ordinating with the payment service providers.
- Additionally, in case you do not possess the desired budget and resources in hand you can opt for “White Label Scheme” wherein you actually lease up the software as well as the gaming license and other financial infrastructure from another software provider and operate the casino under your brand name which is more of a rented facility which is ready to be used by you.
- Whether looking for registering your Casino or leasing one both the alternatives possess their pros and cons which need to be analyzed before going forward with your selection.
Although factors such as licensing authority, license fees and duration, and other similar aspects vary across countries. However, the basic guidelines remain more or less streamlined and follow the trend mentioned below:
Guidelines to set up your very own Casino in Malaysia and Thailand:
Browse for a well-grounded casino software provider. It is essential to do your homework right before investing in the iGaming software.
Important aspects to look into an online casino game software provider are:
- Tailored front end
- Gambling license
- Payment with Multi-currency support
- Access to leading betting markets
List of inclusions in the software: The next step is to decide upon the following inclusions that can maximize your influence:
- A platform for Online Casino Software
- offered - Real-time chat rooms, tournaments, player statistics
- In-play sports betting
- Live Casino opportunities
Avail an Authentic Gaming License: It is a time-consuming process and takes around 6 months to 1 year. All you need is to apply for a gaming license for the country in which you are setting up your business. There are numerous jurisdictions offering licenses for various countries like Curacao, Malta, Alderney, Isle of Man, and Gibraltar.
- the following points before finalizing an option:
- Documents required
- Procedure duration
- Overall cost including taxes
Agreement With the Payment System Provider: Choose the service provider offering quality services matching your regional conditions. The points to consider are:
- Seamless transaction
- Multi-currency support
- Detection of Fraud
- Risk Management
- In sync with major e-payment merchants
Design a Tailored Website: Your website is the face of your business; make sure you end up on a customized website possessing the right mix of your services presented in a user-friendly way. It should be appealing at the same time should possess clear navigational support.
Devise a Marketing Plan: Any full proof planning does not reach its optimum best until it is backed by a sound marketing plan. Make sure, you utilize the most advanced and innovative marketing strategies to highlight your business among your competitors.