Formerly known as British Honduras the official name was changed to Belize in 1973 with full independence granted within the Commonwealth on 21 September 1981, although this was not accepted by Guatemala until 1992 because of its historical disputes over the territory with the United Kingdom. Belize is a Central South American Country that borders the Caribbean Sea between Guatemala and Mexico.
There are only about a quarter-million citizens of Belize, as it is on of the smallest nations in Latin America. Belize is a close American ally and even uses the dollar as its official currency. It is an English-speaking nation that has made it a popular destination for investors from the United States, Canada, and the United Kingdom. The country is a member of the Caribbean Community (CARICOM) and also has strong business relations with other Latin American economies.
Belize attracts not only with its fabulous beaches and the warm Caribbean Sea but also with its economic potential. Tourism, fishery, and the oil industry rapidly develop within the country. The government of Belize has made significant efforts to diversify the economy which was previously dependent on Tourism, Oil, and Fishing.
Financial services have emerged as a preferred option owing to the creation of jobs and the potential for the development of ancillary sectors. Online gambling is a big source of revenue for the Belize government. The casinos of Belize attract a steady stream of visitors from the United States.
The government of Belize offers casino operators, software, and service providers in the gambling industry, with a gambling license that allows gambling operators to conduct business related to casino, lotto, and other gaming-related activities. Belize Gambling License is one of the most popular licenses for online casinos worldwide.
The first Belize online gambling license was the Computer Wagering Licensing Act of 1995. This was followed by the Regulations of the Gaming Control Act, Revised Edition 2000. In 2014, when the number of gambling companies in Belize exceeded 14 thousand, the updated Gaming Control Act became effective. Las Vegas Casino is the largest casino in Belize. Like Casino Belize, Las Vegas Casino houses over 400 gaming machines.
Innovation and the early adoption of emerging technologies for creating new ways of betting online could be the way in which Belize re-establishes its place in the gaming industry, and becomes the means by which it attracts start-up online gambling companies to set up base in Belize City. Belize’s infrastructure offers a wide array of services for online gaming operators and providers, such as high-capacity private racks, private cloud services, custom dedicated servers amidst other hosting options.
Belize has long been recognized as one of the preferred locations for Online Gambling operators to base their operations. This success has been due to a combination of factors, such as a progressive legislative system, political stability, first-rate telecommunications facilities, and a well-established financial services industry. A wide range of gambling sites operates out of Belize including sports betting, casino sites, poker, bingo, and more.
Belize Online Gambling Regulations
The administration of the online gambling industry based out of Belize is conducted by the Belize Gaming Control Board, which is directly controlled by the Government of Belize. All rules in place are according to the stipulations laid out by the Gaming Control (Online Gaming) Regulations. National Anti-Money Laundering Regulations, Unusual Transactions Act, Counter-Terrorism Financing Regulations and Know Your Customer Policies are applicable to all Belize Gambling Companies.
As part of its duties, the Belize Gaming Control Board monitors gaming businesses and services to ensure that they operate according to the standards and regulations of the Government of Belize. Compliance audits are conducted on a regular basis to ensure that the terms of the license are met. Licensees must maintain a complete audit trail for each player making a deposit with an operator, including financial transactions and individual bets.
Gaming systems, including back-end software logs, must be made available to third-party auditors. Gaming rules, results of games, and pay-outs are to be made available to Belize Gaming Control Board for five years.
Let’s talk more about the benefits by understanding the reasons why obtaining a Belize igaming license may be ideal for you.
How to Start An Online Gambling Business in Belize
When starting a Belgium Online Gambling Business, first of all, it’s important to think about one of the most essential procedures, that is company registration and acquisition of the license. Belgium Gambling License gives many excellent opportunities to each licensee and makes their business profitable.
In addition, an 11% tax is levied on all gross gaming revenues excluding horse racing tax, which is taxed at 3% for domestic races and 3.7% for pari-mutuel bets on foreign horse races. Belgium has political stability, first-rate telecommunications facilities, and a well-established financial services industry.
In addition, it maintains an attractive environment for international online gaming companies. Belgium Gambling License is recognized by many countries all over the world, so you will have a large potential customer base after getting it.
In order to obtain a Belgium Gambling License, the decision to approve the application is at the discretion of the Belgian Gaming Commission, based on the documentation submitted by our experts.
When starting a Belize Online Gambling Business, first of all, it’s important to think about one of the most essential procedures, that is company registration and acquisition of the license. Belize Gambling License gives many excellent opportunities to each licensee and makes their business profitable.
Licensed Gambling companies in Belize may qualify for tax-exempt status, meaning they do not have to pay any income tax. There is no VAT or other Sales Tax applicable on Belize, there is also no tax or other duties payable on gambling operations. Belize has political stability, first-rate telecommunications facilities, and a well-established financial services industry.
In addition, it maintains an attractive environment for international online gaming companies. Belize Gambling License is recognized by many countries all over the world, so you will have a large potential customer base after getting it.
In order to obtain a Belize Gambling License, the decision to approve the application is at the discretion of the Belize Gaming Control Board, based on the documentation submitted by our experts.
Belize issues one Online Gambling license which covers all gaming operations, igaming service providers, network operators, affiliates, white-label operators, and igaming software suppliers.
With this Belize Gambling License, online gaming companies can operate legally. Each applicant undergoes a thorough assessment, ensuring that licenses are only awarded to those applicants who are able to demonstrate such a financial standing and integrity as to preserve the international reputation of Belize as an online gambling hub. In case something does not correspond to requirements, the Belize Gaming Control Board will provide a checklist of necessary improvements.
A Belize Gambling License covers all forms of online gambling including Casino, eSports, Poker, Sports Betting, Lotto, Bingo, Horseracing, Bitcoin Casino, Fantasy Sports, Games of Skill, and other gaming-related activities without being required to obtain one license for each individual product. Belize Gambling License enables companies to operate all over the world.
Residence in Belize. Operators wishing to offer their services to Belize gamblers must be residents of Belize and they must obtain the relevant licenses and authorizations from the Belize Gaming Control Commission. In case the company is a foreign entity, it must appoint a local director, whose domicile is in Belize, to deal with the competent authorities in the country and have the power to conclude contracts on its behalf
Opening of a bank account with one of the banks in Belize where the operator would need to deposit the players’ money. Licensed remote gaming operators will only be allowed to make payments to players through the payment processors that have been approved by the AGCC
Requirements regarding the minimum share capital of the company depending on the type of game it offers
A monthly declaration giving details regarding income from games of change as well as the fees due will have to be submitted to the AGCC on a standard form
Compliance with the principles regarding the protection of minors as well as with the content of the promotional material used and the locations where they can be displayed
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