Licensing process

Digital assets are deemed ‘money or monies worth’ and as such the licensing process is much the same as any other traditional license; we discuss the business model and agree document drafting parameters at the earliest possible opportunity, so we can move forward with drafting and collating the suite of documents that make up the license application and troubleshoot any potential pitfalls. Based on the discussions we start the process of drafting a neatly knitted suite of documents that form the basis of the application.

From the date we commence work, we would schedule having a suite of documents ready and submitted within four weeks. At the point of submission, the Government application is payable. The government annual license fee is payable following license approval.

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Key features

  • Speed; 15 weeks (or less) to obtain crypto betting, or decentralised betting license;
  • digital currencies such as Bitcoin, altcoins and other digital assets able to be deposited, withdrawn and gambled;
  • specialist licenses available for blockchain and crypto operators, including those conducting token offerings;
  • no corporate tax, withholding tax or capital gains tax;
  • low gaming duty of 1.5% scaling down to 0.1%
  • granting assurance; we have a 100% success record for license applications spread over a decade;
  • no market restrictions –  it is up to the directors to comfort themselves they are operating in markets legally;
  • banking available in the Isle of Man, plus access to UK institutions for Isle of Man licensees;
  • world-class infrastructure, bandwidth and power resilience coupled with excellent data hosting facilities; and
  • politically transparent and extremely stable political system and easy access to politicians who work closely with the private sector.
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Licensing options

One can offer crypto betting under any of the licenses. A token-based software supplier license is especially popular with crypto and blockchain operators.  The following application and annual license fees apply:

 

  • Application fee……………………………£5,000
  • Token-Based Software Supplier…£50,000 p.a.
  • Full Licence………………………………..£35,000 p.a.
  • Network Licence………………………..£50,000 p.a.
  • Sub Licence ………………………………..£5,000 p.a.
  • B2B Software Licence…………………£35,000 p.a.
Discuss the best license for your business now
Full license

A single licence for your gaming business allows a broad range of gaming activities to be undertaken by your business, including B2C business & B2B relations such as sub-licensing and white labelling.

Token-Based Software Supplier

A token-based software supplier license is ideal for conducing token sales on-site, those offering a platform for users to be their own bookies and those offering B2B services alongside B2C.

Network services license

The Network Licence permits the holder to allow other operators located and licensed elsewhere to send their players to the licence holder’s servers in the Isle of Man with no need for the licence holder to re-register them.

Sub-license

A sub-licence is a reduced fee licence for operators who enter into a contract with a technology provider that holds a full OGRA licence. The sub-licensee can deploy its own games or games of the full-licence holder.