For iGaming operators targeting newly regulated markets, the cost of entry is increasingly decisive. In Brazil, licensing fees can reach $5.4m, reinforcing a hard truth for the sector: a gambling licence is no longer an administrative requirement, but the core asset that determines where – and how – a business can operate.
That was the focus of a recent video explainer, ‘Gaming Licences – Which One Should You Get‘, from iGaming software provider Altenar. The analysis positions licensing as the primary gatekeeper to regulated markets, tier-one suppliers and payment infrastructure, arguing that operators who treat it as a box-ticking exercise are misaligned with current regulatory realities.
Strategic licence selection
Altenar advocates a scorecard-based approach to jurisdiction selection, weighing budget, speed to market, target geography and long-term ambition. Different licences serve distinct strategic purposes.
The UK Gambling Commission is cited as the benchmark for credibility, but offers access only to the UK market. The Malta Gaming Authority provides broader European reach while maintaining strong international standing.
For operators prioritising speed and lower upfront costs, Curacao remains a common entry point, with Anjouan emerging as a lower-cost alternative. More established brands may favour Gibraltar for regulatory stability, while the Isle of Man is positioned for operators with large-scale international ambitions and a focus on long-term tax efficiency.
North America’s fragmented model
The explainer stresses that North America requires a different approach. In the US, operators must secure licences on a state-by-state basis, dealing with regulators such as the Michigan Gaming Control Board and New Jersey’s Division of Gaming Enforcement.
Canada follows a provincial framework, with Ontario operating a distinct model. Operators must register with the Alcohol and Gaming Commission of Ontario and enter a commercial agreement with iGaming Ontario, effectively offering products on behalf of the province.
Ongoing compliance
Despite jurisdictional differences, Altenar outlines a consistent licensing pathway: legal due diligence, corporate and financial disclosures, technical certification, AML checks and continuous reporting. The key point is that compliance is not a one-off cost.
