Ireland, Irish Éire, country of western Europe occupying five-sixths of the westernmost major island of the British Isles. Ireland’s capital is Dublin, a populous and affluent city whose metropolitan area is home to more than one-fourth of the country’s total population. Six million tourists visit Ireland each year creating 180,000 jobs and generating €3.9 billion for the economy.
The tourism industry is built around the Irish people, Irish culture, and the physical beauty of the country. In 2019 trade-in Ireland was worth €586 billion, mostly generated by merchandise trade and service trade. The main trading partners are the USA, Great Britain, Belgium, Germany, France, Spain, and the Netherlands. The main merchandise goods include organic chemicals, medical and pharmaceutical products, and computers. The main service industries are pharmaceuticals, chemicals, computer hardware and software, food products, beverages and brewing, and medical devices computers and contribute to 29% of GDP.
Ireland has historically harbored a great love for all things gambling. The island nation especially enjoys betting on sports, bingo, and lottery. Thanks to these reforms, the country now has a well-defined legal system to control its growing gaming market. Establishing a flexible licensing and taxing regime, the Casino Committee has not only opened doors for foreign operators, but also left a leeway for the legislation to be changed, or improved in accordance with any future developments.
The government of Ireland 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. Ireland Gambling License is one of the most popular licenses for online casinos worldwide.
Many forms of gambling have been regulated in Ireland for centuries. Irish law distinguishes primarily between three main forms of gambling: betting, gaming, and lotteries. Following the passing of the Gambling (Amendment) Act 2015 which came into force on 1 August 2015, the Irish authorities started regulating and taxing at a national level online betting services.
For the most part, gambling in Ireland is the subject of private enterprise and the normal principles of free competition apply. Ireland’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.
Ireland 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 Ireland including sports betting, casino sites, poker, bingo, and more.
Ireland Online Gambling Regulations
Private citizens and companies, whether based in Ireland or abroad, are entitled to apply for a betting license subject to fulfilling the various requirements to obtain a license. The bookmaker, remote bookmaker, and remote betting intermediary licenses are granted by the Irish Revenue Commissioners, who administer the licensing process and maintain public registers of those who have been granted a license.
Spread betting on financial instruments is governed by the Markets in Financial Instruments Directive (2004/39/EC) and regulated by the Central Bank of Ireland. National Anti-Money Laundering Regulations, Unusual Transactions Act, Counter-Terrorism Financing Regulations and Know Your Customer Policies are applicable to all Ireland Gambling Companies.
As part of its duties, the Local Regulatory Authority monitors gaming businesses and services to ensure that they operate according to the standards and regulations of the Government of Ireland. 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 the Local Regulatory Authority for five years.
Let’s talk more about the benefits by understanding the reasons why obtaining an Ireland igaming license may be ideal for you.
How to Start An Online Gambling Business in Ireland
When starting an Ireland 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. Ireland Gambling License gives many excellent opportunities to each licensee and makes their business profitable.
In order to receive a license from the Local Regulatory Authority, there strict guidelines to be followed. To apply for an Online Gambling License in Ireland, you will need to incorporate your company in Ireland. Then the Ireland Gambling Licensing process will begin. To secure your online gambling license in Ireland, our specialists will work closely with Ireland authorities to comply with Due Diligence and KYC policies.
Ireland has a low corporate income tax of only 15% and a 1% tax on bets. Ireland 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. Ireland 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 an Ireland Gambling License, the decision to approve the application is at the discretion of the Local Regulatory Authority, based on the documentation submitted by our experts. Ireland 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 Ireland 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 Ireland as an online gambling hub.
In case something does not correspond to requirements, the Local Regulatory Authority will provide a checklist of necessary improvements. An Ireland 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. Ireland Gambling License enables companies to operate all over the world.
Ireland Gambling Requirements
Residence in Ireland. Operators wishing to offer their services to Ireland gamblers must be residents of Ireland and they must obtain the relevant licenses and authorizations from the Ireland Regulatory Authority. In case the company is a foreign entity, it must appoint a local director, whose domicile is in Ireland, 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 Ireland 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 Ireland Regulatory Authority
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 Ireland Regulatory Authority 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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