For the past few years, online casino gaming has been attracting thousands of casino players, intent on winning the top prizes and the entertainment that comes with it. And a huge chunk of the market is dominated by players looking for instant win games in the form of video slots. But there is one more segment in online casino entertainment that has been gaining ground for a while now – online poker.
Casino players are now flocking to online poker tables since the game is seen as the great equalizer – it rewards skill over randomness. In fact, recent trends suggest that there is an increasing number of European online poker players that are joining poker challenges in different parts of the world, the World Series of Poker (WSOP) in Las Vegas included. According to the BBC, as early as in 2011 close to 300 British players participated in WSOP and this figure is rising – as it is across the rest of Europe. This means that now is the best time to start an online poker site, and tap into the growing popularity of the game. But before you can start this online business, it pays to work with a legitimate counsel, and check out the legal requirements involved.
Work with a counsel, and get informed guidance
The good news is that online gaming – including online poker – is permitted in the European Union member states. But with different regulations involved, it is important that operators should have representation and work with a legal counsel – this is especially important before you decide where to get your gaming license, for example. If Europe is your market, you need to get a gambling license from a European country. This is important both because it’ll make your business appear trustworthy, but also because tax regulations in many jurisdictions permit winnings from European poker sites to be tax free.
In starting an online poker site, entrepreneurs should therefore always consider working with a legal team with experience of the gaming business as well as the local regulations in the country where you apply for your license. Malta is a good option, where it’s relatively easy to start a business and there is plenty of expertise around to help – such as GTG Advocates, a legal team that understands that ins and outs of online casino operations in the region. If the operations are hosted in the most transparent and open way, the gaming hub can even earn certifications along the way, like an eCOGRA stamp of approval.
Once the legal requirements and requirements have been untangled, then that is the time to work with a software provider that can make the games work on the website. Just like other online casino offerings, the main obstacle is the legal requirement and once that is taken care of, everything falls into place.