In the rapidly evolving era, the online gaming industry has seen significant growth. However, before embarking on this journey, to gain trust and credibility, obtaining an online gambling license is a prerequisite. The Anjouan online gambling license is attracting more and more attention in this context.
Mark O’Neill, the director of Global Gaming Solutions, has recently returned from the iGBL!VE conference in Amsterdam and has learnt that a number of operators are exploring the Anjouan online gambling license as an alternative. This article delves into the details of the Anjouan Online Gambling License, answering the who, what, where, why, and how related to it. Additionally, Mark provides his thoughts for online gambling operators looking to obtain this license.
Who
The Anjouan Online Gambling License is not a new product to the online gambling market. In fact, operators have been able to apply for an Anjouan Online Gambling License since 2005.
So why is everyone only speaking about it now? Due to the proposed regulatory changes in Curacao, operators have been looking at alternative jurisdictions such as the Isle of Man, Kahnawake and Malta. Over the past few years, Anjouan has not been regarded as a jurisdiction of choice for online gambling operators. However, over the past six months, there has been a lot of noise about the Anjouan Online Gambling License which has led to more and more operators looking to obtain this license as an alternative.
What
In my previous article, we discuss the proposed changes to Curacao which we expect to come into force from the 1st of September 2023. However, there is still a lot of uncertainty regarding the new changes, such as the substance requirements and the transition period for sub-license holders to move to a full Curacao license. Ultimately this uncertainty is why some Curacao operators are looking to make the move to alternative jurisdictions now. Operators need certainty to future-proof their operations and this is why Anjouan is attracting more and more attention.
Where
Located off the coast of Africa, Anjouan is one of the three islands that form the Union of Comoros, a small nation that might not be familiar to many. However, it is in the online gaming world where Anjouan has carved a name for itself. Through the provision of online gambling licenses, Anjouan appears to be a cost-effective solution for companies looking to set up their online casinos, sports betting sites, and other gambling platforms.
When
The primary legislation, the Computer Gambling Licensing Act, was enacted in Anjouan in 1999. However, it wasn’t until 2005 that Anjouan truly embraced the global gambling scene. This happened when the State of Anjouan Union of Comoros enacted the Computer Gaming Licensing Act 007 Of 2005, which took effect on February 20th, 2005. This Act permitted the Anjouan government to grant licenses to online casinos and provide them with assistance. Due to the changes in the regulatory landscape, we anticipate that Anjouan will become more of a familiar name in the industry over the next 12 months.
Why
Anjouan is a jurisdiction which has established a regulatory framework to attract business to the Island. Securing an Anjouan online gambling license provides operators with multiple advantages, the most notable of which is its universal recognition. This license allows operators to conduct their businesses in several jurisdictions, making it a choice for gaming start-ups seeking global outreach. Another benefit of the Anjouan license is its affordable cost. Compared to other jurisdictions that can be quite expensive and demanding in terms of requirements, Anjouan provides a cost-effective licensing solution, making it an option, particularly for smaller companies or those entering the online gaming industry.
How
Obtaining an Anjouan online gambling license is a simple process. Online gambling platforms must adhere to certain essential procedures for registration, with the primary requirement being the acquisition and registration of a license under the Gaming License category.
The licensing process is managed by Anjouan’s licensing authority and an annual fixed fee applies to all, regardless of the size of the operation. The licensing authority provides continual guidance during the application process, encompassing business verification, software testing, and compliance checks. Additionally, continual oversight is maintained to ensure that licensed operators adhere to the requisite standards and maintain exceptional operational practices.
Our Thoughts
Presently, there are only four casino brands operating under an Anjouan Online Gambling License. Although Anjouan has had the capacity to issue licenses since 2005, it remains a new jurisdiction for many, thus, building a credible reputation within the industry may require time. As with anything new in this sector, key service providers such as banks, payment service providers, software providers, and other service providers will conduct their own assessments to determine whether they’re comfortable with the risk involved in dealing with licensees from Anjouan.
In a world where customer due diligence and source of wealth verification are paramount, it seems that Anjouan has fewer requirements compared to tier-one jurisdictions. While this might raise concerns for some, it may also be seen as a benefit by those seeking a license without the need for extensive customer due diligence. Similarly, obtaining a license in Anjouan can be accomplished within a matter of weeks, a significantly shorter period than the six to twelve months needed in Malta, or the twelve weeks required in the Isle of Man, evidencing the less stringent requirements in comparison to tier-one jurisdictions.
In conclusion, the Anjouan online gambling license may act as a stepping stone for online gaming enterprises looking to expand their global footprint. However, gaining widespread recognition for this license as a credible industry standard will take time and this will present operational challenges when trying to engage with key partners. But given its affordable cost, regulatory framework, and growing acknowledgement, the Anjouan license could serve as an alternative for both start-ups and smaller online gaming operators.
For further information on the latest trends in the online gambling industry, please contact us via our website www.globalgaming.solutions or via email at [email protected].
Leave a Reply