How to get license to open casino in Russia?
If you decide to start gambling business in Russia, you need to explore the market, your competitors, and find proper software. But first of all, it is necessary to get a permission from the regulator. Without a license gambling business in Russia is outlawed. It may result in fines of up to one million rubles with the confiscation of property, and in some cases the organizers of gambling business may be imprisoned.
Why license is necessary?
To open a casino, a slot machine hall or a bookmaker's office, an entrepreneur will need a license. It gives a legal right to earn on gambling and makes business a legitimate player on the gambling market. In addition, the license increases loyalty among partners and increases trust among players. After all, visitors should be sure that the money paid wouldn’t be lost.
In Russia, in order to obtain a gambling license, you need to meet a number of criteria, starting from the authorized capital and to the premises and location for the gambling complex.
Before obtaining permission to organize gambling issued by the Ministry of Finance, you need to register a legal entity in the territory of the Russian Federation. To do this, you need to take into account floating capital, the presence or absence of shareholders, or give preference to a limited company.
After you registered the company, you need to decide what type of license you need. It depends on the type of gambling business that you want to run, as well as the requirements that you have to fulfill.
According to the legislation of the Russian Federation, it is possible to obtain a license to organize gambling only for land-based business, since Internet casinos in Russia are prohibited.
Types of licenses
If you decide to open a land-based casino or slot machine hall, your business can be run only in the gambling zones. Otherwise, the owner of such a business can get a fine or go to jail.
If you want to open a tote or a network of betting clubs, your offices can be located throughout the territory of the Russian Federation. By the way, unlike casinos, betting offices can have their official website on the Internet.
If you have chosen a type of gambling business that you want to run, you need to make sure that it meets the requirements as for the authorized capital and fund turnover. To organize gambling on the territory of gambling zones, the value of the company's net assets must be at least 600 million rubles. Totalizators and networks of betting clubs should have at least 1 billion rubles as the authorized capital.
In addition, the company that runs gambling business must fulfill even the requirements for the premises and gambling equipment.
For example, if you decide to open a slot machine hall in one of the gambling zones, then the area of such a premise should be more than 100 sq.m. All gambling equipment must directly belong to your company, and there are should be at least 50 slot machines.
We’ve listed the main criteria, which should pay attention to when obtaining a license for gambling in Russia. In our next articles we will tell you how to get a license to organize gambling in other jurisdictions, and what is the difference between the legislation of the Russian Federation and other countries where gambling is legal.