How to open a sports betting agency
I want to establish a sports betting agency in Bucharest. What is the law that governs the process of setting up such an agency in Romania?
The gambling activity in Romania knows a complex and rigorous regulation. GEO no. 77/2009 is one of the main legislative measures regulating this activity in Romania, as well as the establishment and development of gambling activity organizers.
According to art. 6 of the aforesaid Ordinance, the organizer of gambling activities is represented by a legal entity which is authorized to organize and to operate gambling activities under the legal norms of this ordinance. This quality can be gained by Romanian legal persons that are established according to the law, namely Law no. 31/1990 on societies.
What are the necessary permits for a legal person who wants to organize and operate sports betting activities in Romania?
In order to perform the activity of organizing and operating sports betting, you are required to obtain both a license for organizing and an operating authorization.
The law provides that the license for organizing gambling is granted to the economic operator if it fulfills the conditions for organizing betting activities and is valid for 5 years from the grant date, being subject to payment of an annual licensing fee.
The operating gambling authorization is valid for one year from the grant date and it is given differently depending on the type of gambling.
On what concerns sports betting activities, the operating authorization is granted for the form of the main game which carries out a unified organization and operation of each separate activity level of the organizer.
Regarding the companies organizing fixed odds betting, the fee for license to operate gambling is determined by the profits actually made by companies from exploiting this activity, but not less than the minimum tax level set under the above mentioned ordinance.
It is useful to know that, at least 30 days prior to obtaining the authorization to operate sports betting activities, each space in which the activities of betting take place must be identified in the central system, located in Romania, which contains information about each connected gaming terminal, the total participation fees collected and the total prizes awarded.
The establishment of a legal person involves determining preliminary aspects that define your future company, such as:
- request for the reservation of the company name - in this case, it is recommended to choose 3 options in order of preference;
- determining the object of activity of the company - identifying the activity of a legal person is made by choosing the CAEN code/codes related to the activities that you wish to be developed. Regarding the sports betting agency, you will require the CAEN code 9200 Activities of gambling and betting.
- drawing up the articles of association to determine crucial aspects of your company
What does setting up a franchise sports betting agency imply in Romania?
Opening a franchise sports betting agency involves setting up a sports betting agency that can accept betting under the license of another sports betting agency, in a commercial space that belongs to the former, under certain conditions.Opening a sports betting agency in Romania represents a complex and thorough process that requires obtaining various licenses and authorizations, along with determining the important aspects of your future company. The team of lawyers within the Darie, Manea & Associates law firm provides accurate and complete information, ensuring the successful establishment of the company that you desire. Trustingly contact us for a legal consultation on this matter!