9 min read
What a gaming licence actually covers
A licence is not a badge of quality and it is not valid everywhere. What it authorises, who it binds, and why one company often holds a dozen.
Legal and compliance
Licensing structures, what a licence actually permits, anti-money-laundering duties, and the difference between an unlicensed market and an illegal one.
Compliance is the discipline that distinguishes this industry from most consumer internet businesses. A product decision, a marketing message and a payment method can each be lawful in one market and prohibited in the next, and the obligations attach to named individuals as well as to companies in several jurisdictions.
Explainers on this topic
8 min read
How gambling is taxed, and why the base matters
A tax on stakes and a tax on gross gaming revenue can carry the same headline number and produce completely different businesses.
7 min read
What grey and black markets actually mean
The industry uses three words for the legal status of a market and rarely defines them. Here is what each one means in practice.
9 min read
How identity and anti-money-laundering checks work
Who a customer is, where the money came from, and what an operator is required to do when the answers do not add up.
9 min read
How a company enters a new market
The sequence from legal assessment to launch, and the parts that routinely take longer than anyone plans for.