company / banking for gambling affiliates in 2019

Discussion in 'New Casino Affiliates Questions' started by SliemaDog, Nov 7, 2019.

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    SliemaDog

    SliemaDog New Member

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    Hi guys. I like to start an affiliate business in gambling and sports betting. I know how to get traffic via organic search but the legal stuff is where I'm a bit lost.

    What is a recommended setup to start the business nowadays? I was thinking about an offshore company (Belize, seychelles...) with EMI like transferwise or similar to receive payments. Now I know in 2019 that's tricky if not impossible cause of kyc, anti money laundering rules etc. Accounts are getting shut down, documents need to be provided to unblock accounts etc. it is impossible right now, or do you have working solutions? Maybe on a small scale?

    Or can I just do the whole gambling affiliation thing as a private person (I actually saw that option on some affiliate programs)? I am a resident of a banana republic, so I won't be bothered by my government.

    Is an Estonian company with e residency an option?

    Target markets would be German speaking countries and maybe LATAM.

    Looking forward to your experiences and advice.
     
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    Strider1973

    Strider1973 Affiliate Guard Dog Member

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    I would focus on generating revenues first before spending time and money with setting up a company. That should be your focus now.

    In the (unlikely) event that you earn money this year, just wait with the cashout until next year because I'd argue you even don't have to report anything to tax authorities in your country (it happens too often that aff accounts are closed, you should book revenues only once they arrived in your bank account). That gives you approx. one year to figure out your business setup.

    A simple setup (working as a private person and paying taxes on your affiliate income as an individual) is probably best for the beginning (2020+), as otherwise you just spend too much time/money on setting up an entity that might never be used.
     
    hazartnata, TheGooner and metropot like this.
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    hazartnata

    hazartnata Member

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    I wish you a good luck with the German market, but without deep knowledge of the market and the SEO you will not have a chance on it. It's completely overcrowded and keep in mind that all the big aff. companies are there like Catena and etc.
     
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    SliemaDog

    SliemaDog New Member

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    Thank you Strider, I will follow your advice.

    You are absolutely right and I appreciate your honesty. That being said, I have both the knowledge of the market and the SEO skills to have success. I won't challenge the big boys in the industry but there are still ways to get quality traffic for a smaller site.
     
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    Jetman

    Jetman New Member

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    I am actually very interested in this subject as well. Can any (Malta) based affiliates shine a bit more light on this subject?
     
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    Moonlight Cat

    Moonlight Cat Affiliate Guard Dog Member

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    What is you citizenship? Here on AGD forum most webmasters from western countries where KYC and tax procedures very strictly. If you are from non-western country, it may be more more easy.
     
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    SliemaDog

    SliemaDog New Member

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    I am an EU citizen, but I have permanent residency in Paraguay (one of the most secluded non-offshore countries on earth with territorial tax system) where I actually live most of the time with a registered address. I have not been a tax resident in my home country for more than 5 years.
     

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