CalvinAyre.com says – Nevada could be a 5 star online licence to have if the US passes federal online gambling regulation but if it goes state-by-state then it’s a crowded market with a limited online population.
Nevada is universally recognized as capital of the U.S. casino business and same might be the case for the online gaming industry. Nevada’s Gaming Commission unanimously approved online poker regulations just before Christmas 2011. Expect regulations to be completed in the summer. The applications for different licences – of which there are four – started to roll in as early as November 2011.
With the licence process already open it’s expected intrastate online poker will get underway in early 2013 or even final days of 2012. When that takes place they’ll get that much coveted first-mover advantage and be able to offer online poker between state residents playing in the state only.
Type of Company Entity Available for iGaming Firms:
Public and Private
Corporation Tax Rate:
6.75%
Additional Gaming Tax Rate:
8%
Security Requirements/Indemnity for Players Deposits:
The commission or chairman of the board may ask the licensee to provide security in the form of a reserve of all amounts held by the licensee. It includes money held of patrons’ behalf and held by the licensee for the account of the patrons.
License Fee: $500,000
Renewal Fee: $250,000
Licence Duration:
2 years
Do Local Banks Process Online Gaming Transactions:
Yes as long as it’s authorized to do so. This means you must be formed or regulated under the laws of the state or a wholly owned subsidiary of such a banking or association that is formed under the laws of the state. National banks with offices in Nevada are also able to process transactions.
Software Testing Requirements:
Need a licence for the manufacture of intereactive gaming system in order to supply or provide an interactive gaming system including any piece of software or hardware.
Anti-Money Laundering Policy for iGaming Firms:
An operator shall maintain a reserve in the form of cash, cash equivalents, an irrevocable letter of credit, a bond, or a combination thereof for the benefit and protection of authorized players’ funds held in interactive gaming accounts.
Restrictions on Jurisdictions from which you can take Wagers:
Will be limited to players inside Nevada
Contact Details of Government Department or Regulator:
Contact Person:
Address: 555 East Washington Avenue
Suite 2600
Las Vegas, NV 89101
Phone Number: (702) 486-2000
Website: http://gaming.nv.gov
Email: [email protected]
