Gambling License in Belize
Belize has a strong economic interest in supporting online gaming operations within its borders, as the investment that such operations attract can offer a considerable boost to the country’s financial services sector. Legislation to support this interest was first introduced in the Gaming Control Act (Revised Edition) of 2000, and has since been supplemented by the Gaming Control (Online Gambling) Regulations of October 2004. Both pieces of legislation are based on similar documents from other nations that have profited from the online gaming sector – although some changes have been made to reflect the specifics of the situation in Belize.
How to get Gambling License
The Gaming Control (Online Gambling) Regulations cover all actions that involve a single player interacting with a computer or other electronic device for the purposes of: playing a game in which skill and chance are combined and money (or a redeemable equivalent) is offered as a prize; placing or receiving a bet of any nature; taking part in a lottery of any form.
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Criteria for license applications
All license applications must include:
The applicant’s audited accounts from the last three years (including the most recent), made up of both balance sheets and profit/loss accounts.
A copy of a nationally approved identification document, a full copy of fingerprints, and two black and white photographs for any person with a financial interest in the enterprise.
All license holders are required to maintain security deposits and reserves within the Central Bank of Belize that can be drawn on for the purposes of any debt repayment associated with the enterprise’s online gambling activities. The Belizean Online Gaming Licensing Committee must be informed if the enterprise has the need to call upon these deposits and reserves at any point – and must then follow the Committee’s recommendations and requirements regarding the provision of alternative securities.
Who need to apply
Licenses are required by all Belize-based enterprises that are involved in the organisation, management and/or promotion of any game, lottery or wager that is conducted through a computer or other electronic device.