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Antigua and Barbuda are more than just a popular tourist getaway. These Caribbean islands are one of the first gaming jurisdictions to grant licenses for far-flung betting hubs. Since 1994, the nation has been providing internationally recognized licenses. In fact, Antigua and Barbuda is a proud member of the UK Gambling Commission’s whitelist. This means they hold excellent regulatory standards for the best online casinos. Know more about Antigua and Barbuda’s Financial Services Regulatory Commission (FSRC) here.
Securing an FSCR License
The process of getting a license from this regulator is fast and straightforward. The nation grants two types of licenses—Interactive Gaming and Interactive Wagering. The latter is issued to virtual casino operators. On the other hand, the Interactive Wagering license is for sportsbooks. If you want to get the seal of these islands on your sleeves, you must consider the processes and fees you will need.
To start, simply fill in the application forms for the background check. This will serve as the jurisdiction’s investigation grounds whether or not to grant you a license. Your application forms focus on different areas about you and your betting site. Here are their several distinctions:
- Schedule A – Application for Interactive or Wagering License
- Schedule B – Business Entity Package
- Schedule C – Personal Information Form
Note that each schedule must be answered in order. You can download the actual application at the Antigua and Barbuda gaming license easily.
FSRC Application and Licensing Fees
The licensing body charges additional fees for applications. The extra charges cover for the observation and assessment of the betting site. If your license is approved, you will also have to pay annual fees, which are the following
- Due Diligence Fee (For Schedule A) – US$ 15,000
- Interactive Wagering License – US$ 75,000 per year
- Interactive Gaming License – US$ 100,000 per year
- Annual Renewal Fee per License – US$ 5,000
Keep in mind that the due diligence and renewal fees are non-refundable. Meaning, you cannot claim your money back if you withdraw your transaction fee. Rates may change without notice, so you must always check the official site. After which, you can expect the result of your application within 60 days.
Advantages of an FSRC License
During its early years, the Antigua and Barbuda Financial Services Regulatory Commission – Division of Gaming, grants licenses to casinos that pass the minimum standards. As a result, many casinos under its name fall short in terms of quality. Now, the licensor improved its standards and became part of UKGC’s whitelist. This major recognition adds up to the perks you can enjoy if you get a license from the nation:
- Offers more strict licensing requirements to ensure top standards
- Fair licensing fee rates
- Whitelisted by the UKGC
- Offers the chance to penetrate major gaming markets like the UK
- Promotes responsible gaming and player protection
- Implements anti-money laundering regulations to its licensees
These advantages under the licensor’s belt show that it had definitely refined its standards to premium quality. In addition, Antigua and Bardua include the welfare of its community of gamers among its priority. If you are interested in placing the Antigua and Bardua seal to your business, simply visit the licensor’s official website.