Online-gambling has been actively developing for several years. This fact made Zambia`s governance think about adopting certain legislative acts to restrain this endeavor. The main purpose of such documents is to identify fraudulent organizations, to ensure the safety of data about players and their accounts, and to provide fair and honest rules on the accrual of winnings.
Since 2012, Zambia has adopted a law to regulate-gambling. According to it, companies operating in this field must obtain a gambling license in Zambia. Since this market is not yet very popular and not all organizations understand how to work in it, we will try to understand in more detail the reasons for obtaining a license in this region, the procedure for obtaining it, and the prerequisites for applicant companies.
Why you should apply for gaming permission in Zambia
There are many reasons for obtaining a gaming license in Zambia. First of all, this market is considered to be very promising. Unlike other regions, there is not so much competition here yet, and potentially Zambia can become the largest African center of gambling. Accordingly, many companies would like to issue licenses now, while the market can occupy a niche.
Also, the country’s authorities are quite loyal to companies that want to get a gambling or betting license in Zambia. This is a regular conception of remuneration for the state treasury, so the authorities are interested in the emergence of more and more competing companies on the market.
The term of issuing local permission is 5 years. This means that companies will be guaranteed to work during this period and do not need to submit documents for confirmation every year. After the expiration of this period, the company can decide to prolong the license or close it. This is also extremely convenient for licensees.
Types of gaming licenses in Zambia
There are several types of licenses in Zambia, depending on what games and services applicants are willing to furnish. Representatives of the Gambling-Board grant licenses for the following activities:
- online-casinos;
- sports-betting;
- lotteries;
- slots.
Licensees may issue multiple licenses in case they operate in more than one of the above-mentioned areas. Representatives of the regulator inform that licensees are obliged to comply with all the rules that are prescribed in the local legislation and meet all the requirements that are put forward to applicants for such permits.
In case of violation of any prerequisites, the Gambling-Board has the right to revoke the license and prohibit its issuance for such companies.
Prerequisites for the license
For applicants, the process of obtaining a gambling license in Zambia can take up to 5 months. Potential licensees must apply to the regulator for such a permit. Among the documents to be attached must include:
- the organization’s business-plan;
- a suggested allotment for the company;
- details of the co-founders and executives of the legal entity.
In addition, the corporation is obliged to provide info on the sources of origin of the budgeted funds and documents that confirm the appropriate qualifications of the organization’s employees.
The procedure of document processing itself can accept 3-4 months. During this time, representatives of the Gambling-Council execute a thorough check of applicants and decide on them. If everything is in order, the organization will receive a five-year license and can start working. If discrepancies are found, the applicant company will receive a rejection from the regulator.
It is also possible that the regulator will request additional data, and after providing them, one of the above decisions can be made. However, this process greatly delays the licensing procedure and is disadvantageous for organizations.
Once the license is issued, the company needs to capitulate with the regulatory-prerequisites of the regulator so that the regulator does not revoke their permission. There are the lowest measures for such organizations, which are similar to the global conditions for issuing documents.
Representatives of the regulator have the right to examine operators to ensure that they comply with such measures. Contenders are also required to execute trustworthy gambling-guidelines to rescue users from gambling-addiction. Accordingly, they must post info about gambling`s problems and provide agencies and aids to help contain players’ demeanor and prevent them from becoming addicted.
Who can help with the licensing-process
The approach of obtaining a license in Zambia can take some time and it is very unfortunate if a company loses the opportunity to obtain such a permit due to mistakes in the documents or incorrect information submission. Therefore, we recommend you contact our experts.
All our staff are true professionals who regularly help clients process permits in Zambia and other countries. We understand their requirements well and will be able to help you solve all the problems before submitting the documents. We are ready to analyze your application package, point out weaknesses, and help you address them. With our help, you will proffer good apps that the Zambian regulator is highly likely to approve the first time. Therefore, while your competitors will be eliminating the deficiencies, you will be able to actively work in the market and earn money in this industry.