GBO: Your One-Stop Solution for Online Casino Start-Ups!
About us, GBO International Financial Services
Entering the gaming world can be challenging, but GBO makes it a breeze! We’ve been guiding people since 2009.
Here’s what GBO offers:
- Start Right: Secure your gaming license from Anjouan, Curacao, Malta.
- Tech Side: We offer an online casino white label for smooth operations.
- Key Points: We handle the rules, ensure smooth operations, and use advanced tech.
- One-Stop Shop: Support in setting up your company. Assistance with banking.
- Multiple payment options: Top-tier software solutions. For All Players:
- Trust us: Whether you’re a newbie or a pro, we’ve got your back!
- Stay Ahead: With GBO’s expertise, you’ll always be ahead in the gaming world.
Choose GBO for a hassle-free and successful gaming journey!
Step 3+4 : The Banking and Payment Infrastructure Guide for Starting a Casino
After obtaining the required licenses, the next challenging duties you face as you open an online casino are related to financial operations. creating corporate accounts and building a strong payment infrastructure, specifically. Despite being crucial, these elements can be the most difficult to set up.
Step #3: Opening Corporate Accounts for Player Settlements.
It is essential to open business accounts capable of receiving player settlements from your Payment Service Provider (PSP). But opening an account for a typical business is not as simple as going to a bank and doing so. This is why:
- Risk perception: Due to their nature, online casinos are viewed as high-risk businesses by the majority of banking institutions. This impression is a result of worries about fraud, money laundering, and the erratic nature of the industry.
- Regulatory Scrutiny: Banks are more cautious than ever when it comes to their clientele in light of the increased global emphasis on anti-money laundering (AML) and combatting the financing of terrorism (CFT). Unfortunately, there is a lot of intense scrutiny directed at the gaming sector.
- Chargebacks: There are more chargebacks in the online gambling sector. Banks are hesitant to provide services because they see this as a liability.
You’ll need these to get around this:
- Choose specialized banks that have experience or knowledge of the online gambling sector. These organizations will be more understanding of your business approach and more adaptable.
- Clear Documentation: Make sure you have all necessary paperwork, such as company plans, AML policies, licenses, and proof that you abide by all applicable laws.
- Legal Counsel: Having legal counsel can be advantageous because professionals who are knowledgeable about gaming legislation can help you deal with banks and frequently vouch for your operations.
Step #4: Establishing a payment infrastructure with PSPs and cryptocurrency exchanges is
Your online casino’s payment system is its foundation. Your casino won’t be able to operate if payments can’t be processed quickly. Here’s how to configure it:
Providers of Payment Services (PSPs):
- Why PSPs, you ask? They are experts in online transactions and provide a smooth transactional process for both the client and the business.
- Application procedure: Submit your application via a PSP who is familiar with online gambling. Giving business information, anticipated transaction volumes, and other pertinent data will be required for this.
- Integration: After getting the go-ahead, you’ll link the PSP’s platform to your own in order to process deposits, withdrawals, and other transactions in real time.
Bitcoin exchanges for online casinos
- Why is crypto? The development of cryptocurrency presents a chance for quicker, more private transactions for online casinos. It might also draw in a specific group of people that like cryptocurrency transactions.
- Select an exchange that is renowned for its security, usability, and transaction speed. This improves the player’s experience and guarantees the safety of their money.
- Wallets and Integration: After choosing, include the exchange into your platform. Additionally, make sure you have safe wallets for a variety of cryptocurrencies.
Setting up the financial system for an online casino requires careful preparation and a thorough knowledge of the banking and payment environment. Establishing a comprehensive payment infrastructure and getting corporate accounts that are specifically suited to your needs will help you set the financial foundation for your online casino’s success. Remember that happy players make for a successful casino, thus smooth financial transactions are essential to that success.
Read our guide Steps 1+2 below
You are here: Steps 3+4
