The online casino business is booming. Have you had a play yet?
With a smartphone in your pocket, now anyone can take a spin on the slots or play a hand of poker in bed before going to sleep, while half-watching something average on TV, or even on the bus on the way to work - or a sneaky play during a lunch break.
In this article, we have a look at some of the benefits of running this style of business in Ireland - as well as the legal implications.
Why is Ireland an appealing place to run an online casino?
That old Irish charm
If you’re Irish, this is a no-brainer. You get to stay and live your life without having to escape to some other place to start a business. If you’re from elsewhere, Ireland has international appeal for its natural beauty and strong community atmosphere. Ireland is well known globally for its lush landscapes and Irish charm. Plus, the cost of living in somewhere like Cork sure beats the cost of living in London or Tokyo.
Starting a new business
If you’re bored with your current business or looking for a new business venture to get into, then running an online casino could be a great option. The market is continuing to grow, as players sign up from around the globe.
If you are used to running a local business, then running an online business is instantly appealing as your customers can be from anywhere in the world - giving you greater opportunity to make more revenue.
Running an online casino involves law compliance, website development, server and resource management, monetary exchange (if you don’t use a third party), and marketing. Internet-based businesses negate the need for things like office rental costs, extra staff, etc.
You have the option to move about freely
If you’re a bit of a wanderer, then running an online casino business makes sense - as all it requires from your end for coordination is a laptop and an internet connection. If you’ve always dreamed of moving about the country, moving from place to place as the wind blows, then this style of business allows you to do just that.
You don’t have to keep it limited to your own backyard either, there’s always the rest of the world to go and explore, should it tickle your fancy.
So is it legal to run an online gambling business from Ireland or not?
Currently, there is legislation in place regarding online bookmaking (remote betting) and bookmaking exchanges (remote betting intermediaries). However, the scope of this legislation doesn’t include online gambling in other forms such as casinos. The Gambling Control Bill has been an ongoing consideration in for 5 years. Reform in the way of online casino operations may be some time off - the bill is complex and debated often.
So, while technically there is no law specifically either regulating or banning running an online casino from Ireland, you’d be running the risk of falling afoul of a law introduced over a half century ago. It’s not advisable to leave it up to the courts to determine their reading of some old policy.
Instead, online casino companies register their operations in a jurisdiction where it is legal and regulated, such as Malta. This will likely require you to run some operations from this place too. You should source a lawyer in Ireland familiar with online gambling law to discuss the finer details of how and if this can all be possible.
Or you can check out starting an affiliate online casino business website which is a little less tricky - but still requires effort!
Things to note about starting an online casino
The most important thing that you will need to keep tabs on if you decide to follow this business venture is current law - and even laws or bills in the works. You will likely need to have a lawyer engaged in these services. Falling afoul of gambling laws in any country could leave you bankrupt, or even ending up with jail time.
Some sites, like nodepositfriend.com, don’t even run their own online casino - simply refer players to other sites to check out and earn a commission.
Starting an online casino business takes time, effort, and research. But with the right amount of passion, smarts, and entrepreneurship, it can be possible!