Gambling Payment Gateway/Bank Account
To open your own online casino, you need not only a good online platform with a well-designed, user-friendly interface. To start a gambling company, you require a bank account for your casino. Opening a gambling account is one of the important steps to take when you set up a gambling or casino business. In doing this, you should take into account that your chances of getting approval to open a current account directly depend on the type of license and the jurisdiction where it was issued. If you want to set up a gambling business, we recommend that you contact the representatives of IB-IA Group UAB so that a bank account in Europe is opened for you as soon as possible.
Gambling means a field of activity related to lotteries, casinos, sports betting and other games of luck. It is important to understand that there are quite strict legal requirements in this sector in Europe, which should be taken into account before registering a company.
Not all European banks are ready to cooperate with online casinos and gambling platforms for sports betting, mainly due to the strict requirements imposed by the governments of European countries in this business area, since if there is no adequate control over this activity the bank is at risk of losing its license.
If you want to open an account in Europe, please note that regulatory requirements for gambling established in EU countries may differ. Despite the fact that gaming is a fast-growing industry, it may be prohibited by law to carry out activities in this area in some states. According to IB-IA Group UAB, popular jurisdictions where you can open a gambling account today include Malta, Cyprus, Lithuania and Gibraltar.
It is also necessary to distinguish between two types of accounts required for performing gambling activities:
Trading. It is designed to manage operations, such as transactions on winnings, money withdrawal, payment of company expenses.
Merchant. It is designed to carry out transactions with Visa, MasterCard, etc. credit cards used to deposit funds by the clients of the company.
Jurisdiction. Each state has its own requirements for those who want to apply for opening a casino bank account. The country in which the representative office of the gambling company is located plays an important role. In some European countries, it is prohibited to open a casino bank account for foreign entities or companies whose beneficiaries are non-residents.
