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Gambling and Betting Licences: General Legal Principles
Gambling and Betting Licences: General Legal Principles
In many
countries, gambling and/or online gambling is banned or the preserve of
state bodies. In the field of gambling, the law of the country where the
gambling company has its registered office applies, as a matter
of principle, and the law of the other “state or states providing the
service”. Example: The
gambling company has its registered office on the Isle of Man and the
gambling service offered is also aimed at clients in Spain, Germany and
Switzerland, for example. Consequently, the gambling law of the Isle of
Man and the gambling law of Spain, Germany and Switzerland come into
play.
However,
there are possible solutions through the EU freedom of establishment and
judgements of the European Court of Justice concerning the freedom of
establishment or “Gambling Judgements” of the European Court of Justice:
If a company within the European Union has a gambling licence, its
services can be aimed at participants throughout the EU.
Thus, with a licence from Malta, the United Kingdom or Gibraltar
gambling can be offered throughout the EU, as the national bans on
gambling or gambling regulations would breach the EU freedom to provide
services, if a licenced provider of the service were to be prohibited
from offering a service in another EU member country (cf. European Court
of Justice ruling of 09.09.2010 – C-316/07 inter alia). It must be borne
in mind, in this connection, that Gibraltar does not belong to the VAT
area of the EU.
Incidentally: The Isle of Man and Alderney are autonomous crown property
and not members of the EU.
If what is
involved is simply a “reseller service”, Cyprus is an additional
possibility, as offering such a service is feasible in Cyprus without a
licence.
Moving to a
non-member country such as Belize, the Isle of Man or Costa Rica is also
possible.
It must be
assumed, as a matter of principle that such an “offshore licence” only
gives the right to execute the service within the country where the
company has its registered office, such as in Belize, for example, but
not in other countries and/or in the EU. However, this raises the
question as to how other countries will wish to impose sanctions, as
these countries, as a rule, do not have any agreement providing for
mutual judicial assistance with other states.
Costa Rica
adopts a special position: provided that the gambling service is only
directed at clients outwith Costa Rica, no gambling licence is required,
only a trading permit.
What preconditions are required to provide proof that the
business premises of the gambling company are located in the country
where it has its registered office ?
“The
location of the senior management of the business” centrally defines the
location of the business premises – also on the basis of Article 5 of
the double taxation agreement: Either the client or an agent relocates
his normal place of residence/abode to the country in which the gambling
company has its registered office (that is, to Malta, for example) and
appears himself as the director of the gambling company, or our partner
legal office in the country where the company has its registered office
appoints a trustee director or full-time director. In addition, having a
purely “post-office box company” must be prevented. So simply having a
“registered office” is, under any circumstances, not sufficient. However,
offices do not always have to be large. Actually, within the EU, in most
cases, having a virtual office (company sign, your own telephone number,
the ability to take calls in person using the name of the company, a fax
service) in a business centre is sufficient. Gibraltar is a special case:
Due to domestic law, having a business set up and operated in a
commercial way has been a requirement for some yearsa now, that is,
there must be at least one office and one full-time employee.
Gambling Licences and Tax-Law Aspects
What is
also crucial within the context of a gambling company is the prevention
of the approval of an illegal intermediate company. Due to the EU
freedom of establishment and judgements of the European Court of Justice
on the freedom of establishment, this problem can be solved relatively
easily within the EU. Unlike when setting up companies in so-called
offshore states (countries with low rates of taxation or with a zero tax
rate and without a double taxation agreement with the country in which
the registered office of the client is located, outside the EU): the
approval of an illegal intermediate company can, actually, only be
prevented by putting a business operation in place in the country in
which the company has its registered office (that is, Belize, the Isle
of Man and Costa Rica, for example) that has been set up in a commercial
way and the senior management of the business can be proved to be
operating from the country in which the company has its registered
office, that is, there is a full-time director and not simply a nominee
director. Of course, there are appropriate structural possibilities and/or
approaches to solving problems.
Fiscal Structural Possibilities
First of
all, a so-called gambling or betting tax is due in almost all countries.
In addition, the profits of the gambling company are taxed. In Malta,
there is the possibility of reducing the final tax rate imposed at
company level through the Malta holding company model to 4.75%.
Taxation of Dividends
The profits
after tax (dividends) are due to the shareholder/owner of the company.
Most countries are familiar, in this connection, with a tax at source in
the case of dividends flowing out of the country. Such a tax at source
can, in principle, only be limited or cancelled through two measures:
-The
country is not familiar with tax at source in the case of dividends
flowing abroad (Example: Cyprus)
-An
existing double taxation agreement (DTA) limits the tax at source
-The
aplication of the EU parent company-subsidiary company directive:
collection of the dividends free of tax at source in the case of
affiliated companies within the EU
-The
interposition of an EU holding company. Cyprus, in particular, is a
possibility in this case: Application of the EU parent
company-subsidiary company directive (provided that the subsidiary
company/gambling company are located within the EU), Cyprus does not tax
proceeds that are purely from holdings(holding privilege), and
there is no tax at source in the case of the distribution of the
dividends to non-Cypriots.
Apart from
the tax at source, the dividends are taxed at the recipient of the
dividends end in accordance with domestic law. In Germany, for example,
at a withholding tax rate of 25%, and in many other countries according
to the half-income system. If a double taxation agreement exists between
the country of the recipient of the dividends and the country of the
base company, and the possibility of using the credit method exists, tax
paid at source can be deducted from the tax on dividends.
If, in the
case of the dividend recipient, it involves a public limited company,
then, in most cases, the dividends are collected tax-free. In addition,
in the case of EU companies, the EU parent company-subsidiary company
directive comes into play.
Gambling Licences and Services of Our Legal Office
Our legal
office offers the entire range of essential services:
-setting-up
of the company in the country where it is to have its registered office,
that is, in Malta, for example
-on request,
and insofar as it is required: appointment of a trustee director or full-time
director in the country where the company is to have its registered
office and/or a trustee shareholder
-proper
place of business in the country where the company is to have its
registered office (prevention of the approval of a “post-office box
company”)
-opening of
a bank account in the name of the company, incl. online banking, cheques
and a credit card. The client is given sole authority over the account,
even in the case of solutions involving trustees, through a
shareholders’ resolution. The shareholders’ resolution is held by the
bank and can only be amended with 50+1 votes of the shareholders
-application
for a permit (business plan,
P&L plan, General Terms and Conditions, institution of licencing process
up to and including obtaining the permit)
-insofar as
required: co-operation with the “programmer of the gambling platform”
-tax
structure e.g. setting-up of an intermediate holding company (dividend
routing)
-securing
of gambling licences in Malta, Gibraltar, England and also, on request,
in so-called offshore states such as Belize, or a trading licence in
Costa Rica
Gambling Licence in Malta
In the middle of 2003 the Maltese government amended
its legislation in relation to online betting and games of chance to the
effect that, from that point on, it became possible to obtain a licence
to open up an online betting office or casino. This new type of
legislation makes it very attractive for many firms to set up in Malta
as the licence has some important safety features and it is possible,
from now on, to promote
online betting or casinos in the area of the EU and to offer these
services as an operator or an agent (EU freedom of establishment, cf.
also:
Gambelli judgement).
Types of licences:
There are 4 different classes of licence. One or even more than one can be
applied for.
Taxes in Malta:
Through the "Malta holding company model" a final tax rate of approx. 4.75%
is achieved for the business premises. However, this assumes that a
foreign public limited company is the majority owner.
Taxes on Gambling in Malta:
-Casino type games: approx. 4,600 euros for the first 6
months following the granting of the licence. From the 7th month and for
the remaining period of the licence this comes to 6,900 euros per month.
-if the casino operates from a so-called “host platform”
operiert (Class 4 Licence) the following applies: 1,500 euros per month
for the casino operator, 0.00 euros in the first 6 months for the host
platform, then for the following 6 months 2,300 euros per month and
thereafter 4,600 euros per month for the remaining period of the licence
-in the case of betting, betting games: 0.5% of the “gross
amounts” of the bets accepted and 0.5% in the case of so-called “pool
betting” on “the aggregate of stakes paid”.
-betting exchanges & poker
operations: 5% of the “net income”. This is to be equated with the
“revenue from rake less bonus”, commisions and payment processing fee;
i.e. e-commerce fee.
Required Share Capital for a Gaming Limited Company in Malta:
•
Class 1 : €100,000 (one hundred thousand euros)
Class 1 – operators managing
their own risk on repetitive games (casino-type games, games of skill
and online lotteries)
– own platform, at their own risk (casino, skill,
online lottery)
•
Class 2 -:€100,000
Class 2 – operators managing
their own risk on events based on a matchbook (fixed odds betting, pool
betting and spread betting)
– own platform, at their own risk (betting syndicates)
•
Class 3 : €40,000 (forty thousand euros)
Class 3 - operators
promoting and abetting gaming from Malta & taking a commission from
promoting and/or abetting games (P2P, poker networks, betting exchange
and game portals) – promotion or advertising of P2P, poker, betting or
games in return for a commission
•
Class 4 : €40,000
Class 4 – operators hosting and
managing online remote gaming operators, excluding the licensee himself
(software vendors developing platforms from which gaming operators can
operate).
– operation of a platform, on which other games are
offered
•
Class 1 on 4 : €100,000
Class 1 on class 4 -
operators managing their own risk on repetitive games (casino-type
games, games of skill and online lotteries) operating on a third party
platform duly licensed by the Lotteries and Gaming Authority.
– such as Class 1
(own game) but also on a licensed platform of a third party
•
Class 3 on 4 : €40,000
Class 3 on 4 - operators
promoting and abetting gaming from Malta & taking a commission from
promoting and/or abetting games (P2P, poker networks, betting exchange
and game portals) operating on a third party platform duly licensed by
the Lotteries and Gaming Authority.-
Promotion or advertising of P2P, poker, betting or games in return for a
commission (on an outside, licensed platform)
Gambling Licence in England Within the context of the
approval procedure there is a judicial hearing in London, at which the
director of the limited company is present. The licence is valid for 3
years and can be correspondingly extended. The processing time is 3 -4
months. In
England, a distinction is made between an "organiser’s licence" (he
offers his own games of chance on the Internet) and an "agent’s licence".
In addition, there is a difference depending on whether the company
wishes to provide gambling within Great Britain or only outside Great
Britain ("Remote
General Betting License" ).
The taxes on gambling are
approx. 15%, with the taxes on the earnings of an English limited
company rising progressively from 19-30% (19% up to a profit of 300,000
pounds sterling).
Government Fees/Fees Application fee: one-off fee of 20,580 pounds sterling per licence application. Staff- management licence: 330 pounds sterling per person. The annual licence fee depends on the gross turnover. Let us assume, by way of an example, that the client comes under Class I, then the one-off fees as decribed would fall due, and an annual licence fee of 110,820 pounds sterling. Taxation The "gambling tax" can take the form of two "duties": 1) "Betting duty": the “betting duty” is due on every net amount staked taken in 2) "Remote Gaming Duty": the "Remote Gaming Duty" is due on the net proceeds from games of chance This is 15% in both cases and is due on the net stakes or proceeds on a quarterly basis.
Gambling Licence in Gibraltar
For many of our clients Gibraltar possibly does not represent the best
location as, due to domestic law, an operational business must be set up
in a commercial way (a fully-equipped office) and the management must be
carried predominantly from Gibraltar. This means, as a rule, that the
client - or a representative/full-time employee - must relocate his
normal residence to Gibraltar in order to carry out dealings from the
country where the business is registered. The gambling taxes in Gibraltar, in the case of an online casino and sports betting, is 1% up to a turnover of 42.5 million pounds sterling, however with a minimum of 85,000 pounds sterling per year being payable, up to a maximum of 425,000 pounds sterling per year. On top of this comes corporation tax. An auditor must be appointed in Gibraltar. In addition, the applicant must prove that he has a fittingly positive reputation and is sufficiently creditworthy. The hurdles in the way ofobtaining a licence are correspondingly high. Therefore, relatively few fresh licences are also granted. All financial dealings must be conducted through a bank in Gibraltar.
Gambling Licence
on the Isle of Man
The Isle of Man is not part of the EU. Consequently, the EU freedom of
establishment and judgements of the European Court of Justice concerning
the freedom of establishment and/or gambling judgements of the European
Court of Justice are not applicable. In formal legal terms, the service
may only be aimed at participants on the Isle of Man or at clients in
countries that are not familiar with gambling regulations or do not
recognize the regulations of the Isle of Man (however, none of us here
knows of any countries).
Government Fees:
o
35,000 pounds sterling per annum
o
one-off administration fee of 1000 pounds sterling which is
non-refundable
The gambling tax is staggered as follows:
Total proceeds from gambling up to 20 million pounds sterling:
1.5%
Total proceeds from gambling from 20 to 40 million pounds sterling:
0.5%
Total proceeds from gambling from 40 million pounds sterling:
0.1%
Total proceeds from
pool betting:
15%
Gambling in Costa
Rica
Costa Rica adopts a special position. If the gambling service offered is
directed at participants outwith Costa Rica, no licence is required,
just a trading permit. No share capital is required - except for the
share capital of the limited company (public limited company) in Costa
Rica. Gambling taxes are likewise not levied in the case of offshore
gambling services. Of course, even in the case of Costa Rica, it holds
true that offering such a service will, as a rule, be illegal. However,
Costa Rica does not have any agreement providing for mutual judicial
assistance with other countries, with the result that requests to cease
and desist do not pierce the corporate veil.
Gambling Licence
in Belize
What is involved in the case of Belize is a typical “offshore country”.
Exempt companies (companies that only conduct business outside Belize)
are not taxed. The
routing fee payable to Belize for gambling is 0.75% of the gross annual
takings.
Gambling in Other
Countries
In addition to the countries described, our legal office secures gambling
licences in:
Antigua and Barbuda,
Kahnawake and Panama.
What then is the safest legal
structure if I would like to offer a gambling service worldwide - or in
many countries?
Firstly, a gambling licence within the EU, as the entire EU is “covered”
by it (see the statements above, EU freedom of establishment and
judgements of the European Court of Justice concerning the feedom of
establishment). Since Malta, in addition to England, has the strictest
requirements, a licence in Malta would be prudent, as there is, of
course, still a problem if the gambling service is also directed at
participants outside the EU: the law of the country offering the service
comes into play. Due to the strict demands of a licence in Malta,
however, other countries would, as a rule “let it through”, or a fresh
licence would no longer involve extremely great expense based on a
licence from Malta.
In that case, do “non-member country/offshore
licences” or a Costa Rica trading licence make any sense at all?
Actually they do not, in formal legal terms since, - as has already been
explained several times- the law of the country offering the service
also comes into play in gambling law. Besides, the success of a gambling
platform on the Internet very often also depends on factors such as:
-legal security for the player
-a
secure hosting location
-trust in the service provider
-data
security
etc.. Word quickly gets round in player groups that gambling service
providers in specific countries may not be very trustworthy since the
legal security and the necessary equity capital, among other things, are
missing. However, we also look after clients who, for other reasons,
prefer a licence in a non-member country or a trading licence from Costa
Rica. As a tax and legal office, we do not evaluate such plans, but
point out the legal facts. If a client engages us, for example, to
secure a trading licence in Costa Rica, then we will also execute such a
brief conscientously. It is precisely with regard to Costa Rica or
Belize that clients turn to us who are, themselves, resident in a non-member
country and/or where the gambling service offered is aimed predominantly
at participants in non-regulated countries.
On the subject of
real-estate raffles- raffling of tangible assets over the Internet
In princtople, the raffling
of real estate/ raffling of tangible assets can be conducted over the
Internet through a gambling licence. As an alternative, there is the
possibility of achieving this through a limited company (EU company) in
Cyprus. In Cyprus, this kind of activity is allowed without a licence.
In addition, if EU circumstances are involved, the positive effect of
the EU freedom of establishment and judgements of the European Court of
Justice and judgements of the European Court of Justice concerning the
freedom of establishment come into play.
Legal procedure with regard
to raffling real estate, using Cyprus as an example:
The limited company in Cyprus may dispose of its property by way of a
lottery.
In order to include a property in the lottery that belongs to someone else
the following construct may be described:
That is really a
lot of information, where do things go from here?
In order to propose a structure, we always require the folowing
information:
-At which participants- and in which countries- is it intended to offer
the gambling service?
-Does it involve a “reseller operation” (if “yes”: In which country is
the service provider licensed?), or “providing a service of your own”?
-If providing a service of your own: Who programs the gambling platform?
-Where are you subject –as a natural person - to unrestricted tax
liability ?
-Where are the subsequent owners/shareholders of the gambling company
subject to restricted or unrestricted tax liability ?
Gambling License- Sports Betting- Online Casino:
International
Licenses
Our law firm - i.e. the network
partners of the Low Tax Network - form companies with gambling licenses
on the Isle of Man, Malta, Gibraltar, England and other countries (for
example: Belize, Antigua, Barbuda, Costa Rica, Kahnawake) for our
clients, … key to the realization of an online gambling offering (online
casino, online betting, lottery, sports betting, the company offers
services itself or as a reseller).
We welcome the opportunity to provide these services to
companies who provide gambling software.
We provide consulting in the selection of the seat country and the
required license, as an additional service within the scope of the "tax
planning" (seat country and/or "affiliated companies").
Do not underestimate the costs! In some Internet forums one can read entries which state, for example, that a license can be purchased in Malta for approximately 7,000 Euro per annum. This is of course total nonsense; one cannot just develop a lucrative business "on-the-fly". He who wishes to be a successful entrepreneur must make certain investments. The following fees and taxes must be considered when pursuing a gambling license: - Preparatory steps regarding the submittal of the approval process at the relevant agency in the seat country (these services are provided by our partner attorneys in the seat country). For this process numerous documents/proofs must be submitted depending on the seat country: Business plan and profit and loss plan for the first years, software, general terms and conditions of the gambling operation, measures for child and youth protection as well as addiction prevention, excellent credit record of the managing director, sufficient paid in capital in the event of distributions and many more considerations. -Approval process / accompaniment up to receiving the license -Formation of a company in the seat country, no bogus firms [as defined by term/act/provision]. In this process, for example, Gibraltar mandates a commercially structured organization. - Government fees to be paid to the relevant agency in the seat country, gambling taxes, corporate/company taxes -In many countries: Fees for the prescribed auditor, fees for accounting, preliminary value added tax return and annual financial statement.
Fundamental Differences and Issues
Popular Gambling License Jurisdictions To operate an online casino, poker room or sports betting gaming site legally you will need to obtain a gambling license first. The actual gambling license to operate online gaming site is issued by many governments worldwide, but the most popular jurisdictions issuing such offshore gambling licenses are from the Caribbean and Pacific Island Governments such as Antigua and Barbuda, Costa Rica, St Kitts, Dominica, Curacau and Vanuatu. When selecting a gambling license jurisdiction, you should select one with a sensible approach to taxation, and license cost in combination with a strong licensing law and technical standards. Why do you need the gambling license for your online casino, poker or sports betting site?It is possible to make your online gaming business without a license, but most of major online casinos have license. Here are three main causes why it is worth to have a gambling license.
You can apply for a gambling license in one of the countries listed below: Antigua and BarbudaAntigua and Barbuda is a twin-island nation located in the Eastern Caribbean. Antigua and Barbuda was one of the first jurisdictions to license interactive gaming and wagering companies in 1994. The internet gaming companies are classified as “Financial Institutions” and are subject to all the Anti-Money Laundering (AML) and Caribbean Financial Action Task Force (CFATF) requirements of the jurisdiction. The licensing and regulation of online gambling services on the islands of Antigua and Barbuda is handled by the Financial Services Regulatory Commission's Division of Gaming. The FRSC Gaming Division awards two types of licensees: interactive gaming and interactive wagering. The gaming license is for casino and poker sites and the wagering license is for sports betting sites. It's one of the offshore jurisdictions which contain the biggest number of registered online casinos. For more information on Antigua's interactive gaming and wagering laws and regulations see the following:
Interactive Gaming and Interactive Wagering
Regulations, as Amended 2007 -http://www.antiguagaming.gov.ag/files/Antigua_and_Barbuda_Gaming_Regulations-Final.pdf The Antiguan gaming regulations are enforced by the Antiguan Directorate of Offshore Gaming (the “Directorate”). For more information on obtaining a gambling license in Antigua and Barbuda please visit www.antiguagaming.gov.ag Costa-RicaCosta Rica is the Mecca of online casinos and poker rooms because it has the best infrastructure available in the Caribbean basin - its reliable telecommunication system, its multilingual workers, and its lack of online gaming and Internet regulations. A lot of online casinos have chosen Costa Rica as registration country because of the fact that there are no direct prohibition on gambling business and no necessity to receive a special license. There is no online gambling license in Costa Rica. A company incorporated under the laws of Costa Rica can operate an online gaming business. Companies operate under a "data processing" license. Costa Rica is home to 200+ online gambling companies, without a legislation specifically dealing with gambling over the Internet. Legislation does exist to restrict land-based gambling, but these laws are not interpreted as extending to Internet gambling. The requirements to obtain a license are:
For more information please visit
http://www.meic.go.cr
KahnawakeKahnawake is an Indian (native American) territory in Quebec, Canada. The Kahnawake Gaming Commission is an organization that licenses a large number of online casinos and online poker rooms. The Kahnawáke Gaming Commission was established in June 1996. The Commission is empowered to regulate and control gaming and related activities within and from the Mohawk Territory of Kahnawáke. These gaming activities are regulated in accordance with the highest principles of honesty and integrity. The fee for the initial application is C$15,000 plus an annual license fee of C$10,000 Visit http://www.kahnawake.com/gamingcommission for more information. PanamaPanama adopted regulations governing the licensing of electronic games of chance and wagering activities in late 2002. Internet gaming companies domiciled in Panama enjoy complete tax exemptions. Customs duty concessions are given for imports needed to carry on Internet gaming. As long as the income made from Internet operations are to jurisdictions outside of Panama, there is no income tax, withholding tax, sales tax or VAT taxes. Offshore companies, such as online gaming companies are not subject to foreign exchange control. There is also a new call center incentive and training program that boast numerous qualified bilingual workers. The regulations allow master licenses to be granted that are valid for up to seven years upon payment of a license fee of US$40,000. There is also an annual license fee of US$20,000. Master license holders may grant sub-licenses, which are subject to the annual fee. Applicants must pay all investigation costs incurred in the processing of the application. Operators must comply with money-laundering regulations and notify the Financial Analysis Unit of any suspicious transactions above US$10,000. An account must be maintained to guarantee payment to winners. Until now a very few companies have applied for the license, mainly due to the huge paper work and the cost of the gambling license. Antilles Netherlands and CuracaoWithin the Netherlands Antilles, Curacao offers gambling licenses for online casinos, poker rooms and sportsbooks. Gambling licenses are available through the Department of Justice or through sub-licensing from an existing gambling license holders. Licenses from the Department of Justice last for two years. Gibraltar All gaming operations in Gibraltar require licensing under the Gambling Ordinance 2005. Remote Gambling licenses, including for telephone and internet betting, are issued by the Government of Gibraltar. Only companies with a proven track record in gaming, of reputable standing and with a realistic business plan can be granted gambling licenses. Gibraltar gaming licenses are generally difficult to obtain. For more information on obtaining a gambling license in Gibraltar visit http://www.gibraltar.gov.gi/gov_depts/internet_gaming/internet_gaming.htm Isle of Man The Isle of Man specifically encourages the location of online gambling businesses: "The Isle of Man Government actively encourages the development of gambling and e-gaming business on the Isle of Man. It remains committed to delivering a stable government and strong regulatory environment, supported by a wide range of attractive Business Benefits." The Commission requires independent testing of software to ensure games offered are not rigged and will make accurate payment of player winnings. Games may only be offered by licensed, corporate operators. All operators must also establish bond arrangements to guarantee players will be paid in the event the licensee ceased operations for any reason. Fees
Duty
For more information on how to obtain a
gambling license in the Isle of Man please visit Malta Class 1 – Remote Gaming
Licence for online gaming Licences are issued for a minimum period of five years and may be
extended for further periods of five years each. Obtaining a gaming licence in Malta is a serious affair and in the interest of the consumers and the local reputation, the Authority would require to know that the applicant can meet the licence obligations. The licensing procedure is quite extensive but thanks to the professionalism of the persons involved, this procedure should not take more than 5 to 6 weeks. The application for a gaming licence requires the following
documentation: • Both hardware and software involved in the operations must be located in Malta, and there exist companies that can provide this service without the need for the licensee to obtain its own premises. • The activities of the International Trading Company are limited to
those carried outside Malta. No Maltese resident is permitted to place
bets with such a company. On submission of application form – Lm1,000 (US$2,700) for any class of remote gaming licence. On Issue of any Remote Gaming Licence – Lm3,000 (US$8100) per annum. Such a licence is normally issued for a 5 year period. On application for renewal of any Remote Gaming Licence – Lm500
(US$1,350) On online gaming – Lm2,000(US$5400) per month for first six months and Lm3000(US$8100) per month for the entire duration of the licence period. On Class 4 Licences – Lm0.0 (NIL) per month for first six months and Lm1,000(US$2700) per month for the next six months and Lm2000(US$5400) per month for the remaining period of the licence. Online betting operations – one half of one per centum (0.5%) on the gross amounts of bets accepted Online betting exchanges – one half of one per centum (0.5%) on the sum of all net winnings calculated per player per betting market. Online pool betting – one half of one per centum (0.5%) on the aggregate of stakes paid. Provided that in no case will the maximum of tax payable per annum by
any licensee in respect of any one licence, exceed Lm200,000.
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Within the context of Internet gambling or betting offerings one must
first differentiate if the client only acts as an "agent", i.e. as a
reseller of existing web offerings or if the client wishes to realize
its own platform/service.