Overview & History
As the online casino market grew over the past several years the need for new jurisdictions eventually became real. One of the latest attractions in the industry is Montenegro. The E-Gambling Montenegro is the sole regulator of online gaming and gambling activities on the grounds of Montenegro. Slowly, but surely E-Gambling Montenegro is getting a good grip on new online casinos which want to become part of the international online casino market. Even some online casino operators who are already part of the industry decide to migrate to this jurisdiction.
The application process may be complete as soon as 30 days. That’s if the operator decides to hand over complete control of other supporting functions to the regulator, in this case E-Gambling Montenegro. During this application process a thorough background check is carried out of both the entity and the willing individual who applies for the license. E-Gambling Montenegro offers few types of licenses and depending on the nature of the activities the operators should apply for the appropriate one. Willing applicants can apply for one of or more of the following:
• Casino • Sports and other types of betting (Sportsbook) • Poker and Other Card Games • Live Casino • Other internet games (Except Lottery)
Applying for one of these licenses costs the applicant around €15,000 to €20,000. The renewal of the license for another year costs €15,000. Once an operator is a part of the E-Gambling Montenegro family they can add additional domain for modest €5,000.
Products and Services
We mentioned earlier how E-Gambling Montenegro can take over all responsibilities during the initial stage. Besides this initiation guidance and counseling the regulator is offering other services as well. These supporting services would otherwise take the focus off of other important functions. For example, an operator who holds a license certificate issued by them can outsource functions like bookkeeping, payment processing, consulting, and strategy formation.
Any bank account that the operator wants to open overseas has to be approved by the regulator. Without their consent no revenue can go overseas. This not only protects the players, but also protects the interest of the government of Montenegro. Nevertheless, regulations such as this are of paramount importance.
Security and Regulation
As one of the latest jurisdictions which want to compete with other top tier key jurisdictions such as Malta or Gibraltar much is on the line for E-Gambling Montenegro. Regular checkups are nothing that’s out of the ordinary. Rigorous rules and strict regulations are the backbone for safe and carefree playing experience. All transactions are undergoing encryption that protects the players’ personal information being leaked out. Operators have to pay corporate tax of 9% to the government of Montenegro.