Seychelles (FSA) Licensed Casinos

Requirements for Obtaining a Gambling License in Seychelles

For receiving a gambling license in Seychelles, the applicant should follow all the terms and conditions laid down by FSA as per the Financial Services Act, 2013.

Accordingly, the applicant should have his company or parent organization registered in Seychelles to obtain a gambling license. That means if you are planning to start a casino in Seychelles your business organization should have its head office in Seychelles. FSA allows foreign entrepreneurs to shift their head office to Seychelles so that they can get a valid gambling license.

The next condition relates to the supporting infrastructure and servers that manage the casino activities. This is particularly applicable for applicants who wish to receive an online gambling license. According to FSA all the servers and technology supporting the online casino website should be located in Seychelles. This allows FSA to monitor the gambling sites and their operations without any hindrances.

The third requirement for obtaining a gambling license is that the casino site should use only certified gaming software. This means all the games and Certification ensures that the slot machines are safe and meets the requisite fair gaming standards. The certification or software license ensures the authenticity of the technology used.

List of regulation 

Apart from the basic provision and requirements, the licensee should follow a list of regulations related to casino operations that ensure complete player protection.

1. FSA requires every licensee to submit a copy of their company’s registration certificate and requisite documents to prove complete compliance with prevalent tax laws.
2. Online casino providers aspiring to receive FSA certification should submit details about their software suppliers. This includes the submission of documents that prove their licenses for creating and supplying such software.
3. Casino service providers should submit requisite data that proves the authenticity of their source of capital. This involves documents related to the authorized capital and company accounts.
4. FSA requires every casino operator to mention the legal address and physical location of the company or the parent organization on their gambling website.
5. Detailed reports on the payment system employed, transparency of transactions, and extent of payouts should be furnished as and when required.
6. FSA also requires the casino operator to submit the RNG (Random Number Generator) certificate for the games on offer. This is to ensure that all the games function based on RNG technology and thereby produce random and fair results.
7. Regarding the RTP of various games, the casino operators should submit an eCOGRA certificate that validates the authenticity of the RTP (Return To Player) percentage displayed on the gambling site.

License and Registration Fees

FSA issues gambling licenses to applicants who comply with the aforementioned rules and pays the prescribed amount of application fee and annual license fees. The fees charged vary depending on the type of license required.

For obtaining a land-based casino license you need to pay SCR25, 000 as an application fee and SCR 1,000,000 as a base fee. In addition, a fee of SCR3, 500 has to be paid for each casino table and SCR2, 500 for each slot machine. The base fee and the casino table fee come under the annual license fee. The operator has to pay this sum annually to maintain the license.

For obtaining a slot machine license the application fee is SCR15, 000 and the annual base fee is SCR125, 000. In addition, the applicant has to pay SCR2, 500 for each slot machine.

In the case of obtaining an Interactive Gambling License, the applicant has to pay SCR50, 000 as an application fee and a fixed amount of SCR300, 000 as the annual fee.

The license fee mentioned above (except the application fee) has to be paid annually for renewing the license. Details regarding the annual license fee and registration fees are available on the official website of FSA. Casino owners who wish to receive a Seychelles gambling license can check out the fee structure, download the application form and send an online application.

FSA also provides an option to transfer the gambling license from one person to another. The procedure involves a fixed fee that is equivalent to the license application fee. Also, the licensee has to pay separate fees for appointing workers and employees. The fees for appointing expatriate workers are higher than the fees for appointing Seychellois workers.

Advantages and Disadvantages

Gambling is an activity that can prove harmful if not controlled at the right time. For this reason, many countries have banned gambling activities like sports betting and table games. And countries that have legalized gambling often impose strict measures to prevent various kinds of malpractices. Every nation has its own set of gambling laws that help the authorities in effectively managing various types of land-based and online casinos. In Seychelles, the government has empowered FSA to control and monitor the gambling activities within the country. FSA is a powerful authority that controls all the non-banking sectors in Seychelles.

Club Liberte Casino, Gran Kaz Victoria, and Star Casino are some of the best gambling centers in the country. These land-based casinos hold an FSA license and operate in compliance with the present gambling laws. Also, FSA monitors and audits the activities regularly.

FSA Gambling Laws

As an autonomous authority, FSA has imposed all the necessary regulations required for issuing appropriate gambling licenses. FSA’s gambling laws and regulations are crucial in protecting the interest of players as they engage in various types of betting activities. Over the years, FSA has successfully helped genuine business entities establish numerous land-based casinos and offer a wide range of licensed gambling games. However, in the case of the online gambling market, FSA has yet to undertake several regulatory measures. Even though FSA came into existence in 2013, the authority has not been able to entirely control the interactive gambling sector.

As of today, many online casinos accept players from Seychelles but not all of them hold a Seychelles gambling license. FSA identifies such sites and warns the players against conducting any kind of transactions. Even though several penalties and punishments exist, the government could not eradicate such unlicensed gaming platforms. Despite the shortcomings, FSA as a regulatory body has several advantages in the long run. The authorities are trying to improve and organize the unlicensed gambling market in Seychelles. In this context, several initiatives are undertaken on a day-to-day basis to make this industry a safer and better place for gamers.