In this case study, we will detail how Fast Offshore helped one of its clients set up an online poker site in Curacao.
How we met the client
We first engaged the client after they contacted us through our website. Having read an article on the upwards trajectory of the online gambling industry in 2020, they reached out to find out more. They pitched us their idea and asked us about our experience. Before long, we all jumped on a Zoom call to hash out the details and come up with a plan.
Who they were
The client was an iGaming startup. A mixture of European and American citizens, their team wanted to create a unique online poker offering targeted at the 18-30 age group. With a smart marketing plan and fresh ideas, they had gathered the funding and were eager to get going. Fast Offshore always jumps at the opportunity to work with individuals who’ve new ideas and ways to revolutionize the market. This was one of those opportunities. The team behind the startup had experience in online poker, but none of them had ever set up their own company.
What they needed
The client wanted to set up an online poker platform that would target clients in the EU. Their focus was poker but they were open to the possibility of expanding into other online table games and slots. They wanted a reasonably-priced license that would give them the flexibility to operate different kinds of games.
It was also important to the client that the site was operational quickly and that associated costs were low. They asked us if we could get things up and running in three months. In addition to the license, they wanted cryptocurrency payments, as well as a credit card, enabled on the site.
What we offered
Fast Offshore offered the client a tailor-made turnkey package for Curacao. This included the incorporation of a Curacao company and an EU contracting company in Cyprus. On their behalf, we would also take care of the whole application process for a Curacao gaming license. This would allow them to operate an online poker platform, and to expand into other games in the future. We included corporate settlement account opening, contract negotiation, and implementation with both bitcoin and ether payment providers, as well as Visa and Mastercard. We presented everything to them in one document, with one price, and with no surprises or hidden fees.
Setting up an online poker site in Curacao
Upon agreeing on the services offered and the price we proposed, Fast Offshore got to work. With such a tight schedule in place, we needed to move quickly. Thankfully, due to our 22+ years of experience, we were sure of what we were doing!
We provided the client with a list of documents we required from them to set up the companies, open settlement accounts, and file the license application. These included passport, proof of address, bank account details, police conduct reports, details of professional qualifications, letters of good standing and various other papers. Once they had provided everything, they were free to continue with the software and marketing aspects of set-up.
Within a few days, the offshore licensing company was incorporated and the paperwork for the Cyprus company had been submitted. Meanwhile, we started applying for an online gambling license. We filed for a Sublicense and provided all the standard due diligence that the Curacao authorities require.
Once this was completed and we were waiting for a response from the authorities, we set about negotiating payment provider rates. Due to our longstanding relationship with many big providers, we were able to secure lower than normal rates for the company.
Conclusion
Taking the administrative burden off the client, left them with more time to focus on marketing, branding, and game offering. The result was astounding. They managed to launch on schedule and with a truly unique product. This was an exciting project from start to finish and Fast Offshore was proud to be involved. By knowing what clients need, anticipating their next step and offering truly tailor-made solutions, we were able to be an integral part of their success. To find out how we can do this for you, contact us today!
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