Let’s face it, opening an online sportsbook or a simple street corner betting shop is in most cases a long, expensive and tedious process. This is because a decent amount of cash is necessary as well as the sports betting software, infrastructure and licenses. It is also necessary to know the top countries for opening an Offshore Sportsbook Operation.
Furthermore, a corporation and a banking system is also necessary. In addition, the next question is where to establish your sportsbook operation. According to gambling industry experts, the best place is for opening an Offshore Sportsbook Operation is currently in Central America and the Caribbean.
Our list of the best countries is based on which are the friendliest, have the best infrastructures, local employees. Furthermore, we chose the countries that have the best gambling friendly banks, tax benefits and ease of doing business.
Opening a sportsbook in Panama
Several of the top online sportsbooks have chosen Panama as their base of operation. This is because the labor is cheap and it is fairly easy to find English speaking clerks. In addition, since Panama used to have the Panama Canal run by the United States, Panama City has a pretty good internet infrastructure.
Panama is not as well known for giving out gambling licenses. However, it is a great place because it has minimal governmental interference and a banking system that is friendly to the gambling industry.
The infrastructure is modern allowing online sportsbooks to have reliable internet and phone access for their business.
Obtaining a gambling license is available thanks to the 2002 Online Gaming Act. Sportsbook operators are under the jurisdiction of the “Junta de Control de Juegos” which also monitor online gambling websites.
To obtain a gambling license from Panama, it is a simple matter of submitting an application and receiving an inspection. The initial inspection will include criminal background checks, business process analysis and testing of the games for fairness (for casino games and the like).
The initial application fee is $40,000 and thereafter $20,000 per year. A sublicense fee is also available for $20,000 a year.
Opening a sportsbook in Costa Rica
Costa Rica is known for having the best weather in Central America, prostitution, medical tourism, eco-tourism and being home to several hundred gambling websites such as 5Dimes and CRSportsbet.ag.
In terms of establishing a sportsbook in Costa Rica, the laws are pretty loose and the infrastructure is very good in most parts of the country. Some of the most popular locations for opening a sportsbook office are in Escazu and Sabana. This is because they have the best optic fiber connection in the country.
Obtaining an online gambling license in Costa Rica is fairly cheap compared to Antigua and Panama and will cost initially around $13,500 for the first year and then $6,350 to renew.
Costa Rica is also home to several Sportsbook Per Head operations like PricePerPlayer.com. These companies are famous for providing all of the tools necessary to open a full sportsbook without the hassle.
Opening a sportsbook in Antigua
Antigua used to best and one of the earliest countries to give out gambling licenses and is considered a paradise for online sportsbooks and casinos.
Gambling license are issued and regulated by the Financial Services Regulatory Commission of Antigua which also covers Barbuda. Since the gaming governing body has been around for quite some time, they have various laws and deductibles for those that operate a gambling website.
Since 1994, Antigua has been issuing gambling licenses and is in fact, one of the very first gambling jurisdictions to offer license for interactive gaming and wagering companies. The infrastructure in Antigua is excellent and finding English speaking clerks is fairly easy.
Antigua offers several types of gaming licenses which will run from $50,000 to $100,000 depending on the type of gambling operation.