Costa Rican online crypto sport betting business

Hi everybody,

I would like to know if you know a good law firm to start a crypto gambling business in Costa Rica. I know they don't request a license and that their law see the online gambling without issues as soon as the clients are not from Costa Rica (they don't even require to have the servers there).

I'm coding my own site from scratch and we will not use any kind of FIAT money, we will only accept Bitcoins so no need of a bank account (we will pay our servers and advertising in cryptos too) so basically we won't apply for a data processing license either I guess (or maybe yes if is mandatory).

I read this thread Bitcoin gambling license where two sites were mentioned, I sent an email to the site with the pre-packaged option but because they didn't know what the SUGEF is (casinos need to be registered there) I decided to look for another one. I also sent en email to "GLCA abogados " which is also mentioned in the thread but I haven't received a response yet.

I even look in the Turnerlittle site but Costa Rica is not listened there, I sent some emails to others sites I found on Google but most of them haven't responded yet.

The reason to start with Costa Rica is because I don't have enough money to buy a license from other countries (getting a license will be something to do once the business grows). I won't target countries like US or UK because I know is not legal, my target will be others countries.

Thanks in advance.

jerrymack said:

any luck? Also I am looking for a license provider. Do you have a recommendation in CR?

Yes GLCA abogados answered me and they look really professional and a little expensive in my opinion, but since they look they know what they are talking about (the owner of the firms has articles about gambling in the country) I think I will end up using their services once I need to launch the site (I will finish the site first). They also accept bitcoins which is important for my project.

Admin said:

Using Bitcoins as a payment method with a Costa Rica company will take the biggest rush to get things setup.

That's true but it's a long and interesting journey to take.

AlbanyJames said:

Coding your own platform? How is that coming along? Sportsbetting platforms take YEARS to develop and tons of day to day resources.

I am curious how you got a good data feed for your odds if getting a license was already out of your budget.

DM me if you have a working product and we may be able to collaborate.

Actually good, in just a month I have the site talking with the sports API and saving all of them in my DB, also I have the registration part done too. It won't take years, I mean it all depends in the size of you project and how are you going to earn money. For example I won't use odds since in my site I will allow users to bet against others users directly and I will only take a % of the profits of the winner to pay myself and pay the fees of transfers (users won't need to deposit money in their accounts, they only need to transfers the money to a custodian address per game which will return the money after the game has ended). I will promote the site as a "fair site" where the phrase "the house always wins" is not true (of course is true since I will get a % but you get my point haha is not like other places where the site gets a lot of money and users loose more than what they get).

I think it will take me from 7 to 9 months since I'm not fully working in it (I just spend like 2-3 hours per day) because is a side project. I think that the hard part is not the coding itself but the marketing and media stuffs (maybe I think that because is not my field).

About how I get the data if licensing was out of my budget: Using free APIs, I will target e-sports consumers in places where banking systems are near to useless (like south america for example) and there are free APIs to get that data to target those users.

Gediminas said:

My team can help you with licensing matters as well. Feel free to email me at any time.

Do you work with incorporation and licensing Costa Rica business?

clemens said:

Great why do you guys don't PM each other then, It looks like all others reading this thread are not invited - so this thread is total SPAM and har ZERO relevance to any of us other then promoting your business!

I did it like 20 minutes ago, I'm not doing SPAM I just wanted to know who knows a service providers to incorporate in Costa Rica since I emailed two service providers that in the other thread were mentioned and one of them hadn't answered me in that moment... isn't clear in the first post? @Admin can edit it if need it.

Once I have this finished (in several months since I know this is not a 2 weeks thing) I will share my experience here.