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How to Open a Betting Agency in Poland
Updated on Saturday 08th December 2018 Rate this article
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Gambling activities in Poland are largely composed on betting agencies, with sports betting being very well established both online and offline. betting shop operators are subject to the Gaming Act and need to comply with the local market regulations as well as the licensing requirements. In this short guide on how to open a betting agency in Poland, our team of agents describes the main steps needed to first incorporate a company that will engage in gambling/betting activities and then set up the actual betting site or betting shop.
Gambling and betting in Poland
Betting is a game, along with card games, change games and gaming machines, regulated by the Polish Gambling Law. The activity of betting is performed for the purpose of obtaining cash or material prices, conditioned by guessing the results of:
- sports activities (either with human or animal participants, examples including football, horse races, etc.). Poland uses a sweepstake system, where the value of the prize depends on the total amount of placed bets.
- virtual events, that can include computer-generated events where there is also a competition in place; for this purpose, the prize will depend on the stake-to-winning ratio; for these types of events, the value of the prize cannot be lower than 5 percentage points our of the average winning rate in betting; companies that arrange virtual betting events are required to archive the data containing the results (for a period of five years).
Online betting is the type of online gambling that is allowed by law to be performed by private entities.
According to law, investors in Poland who open a betting agency can only operate the business (arrange the betting sessions) when holding relevant licenses or permits. The activity can only be arranged according to the scope of the permit, for example in a betting shop or point or via the internet. Betting companies that offer their services online are required to sustain a platform that will allow for proving the participation in betting and will allow for the sufficient safety measures so as no unauthorized persons may engage in the activities.
One of our Polish company formation agents can help investors obtain the permit that allows them to arrange betting activities. We can also provide you with more detailed information about the laws in force and the requirements set forth by the Ministry of Finance, the supervisory authority for gambling.
How to start a Polish betting agency
Investors who open a company in Poland and wish to engage in gambling activities, more specifically in betting, need to follow a few key steps. These are the common ones for opening any type of business in Poland, with an additional step needed to obtain the special license for this type of activity.
The main steps to open a betting agency in Poland are listed below:
- - choose the legal form: the Polish private limited liability company is often the chosen business form for a betting operator; it allows the founders to only be liable up to the amount of the capital they invest.
- - choose a name: the company needs to have an original business name, one that can be checked prior to moving forward with the next steps.
- - prepare the documentation: the Articles of Association and the Memorandum are drawn up during this phase; they include information about the company activities, its registered office, shareholders, types of shares and others.
- - register: the company documents, together with the registration form and proof of payment of the minimum share capital (and other documents, as needed) are submitted to the National Court Register.
One of our Polish company formation agents can give you more information about these steps and can help you register the company.
Requirements and regulations for betting agencies in Poland
The application for the special gambling license is submitted to the Ministry of Finance. The application will include details about the applicant (details about the applicant, about the operation, financial statement, conditions for the betting games, etc). A special fee is due when submitting the application.
The betting permit is issued for six years, after which it can be renewed for an additional period of six years. One of our agents can help foreign investors in Poland who wish to open a betting agency submit the necessary documents in order to obtain the needed permit.
These types of companies in Poland are subject to the provisions of the anti-money laundering laws and when applying for the license they must be able to show that they comply with these laws. Inspections can be carried out by the relevant Polish authorities and the permit can be revoked when a money laundering conviction is issued.
For more information on how to start a betting agency and the steps needed to comply with the requirements for this type of business, you can contact our team of Polish company formation agents.
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Maciej Oniszczuk is the Managing Partner of our company. He is specialized in commercial law and has helped many businessmen set up companies in Poland.
Call us now at + 48 570 978 609 to set up an appointment with our company formation agents in Poland. As our client, you will beneficiate from the joint expertise of local lawyers and international consultants for opening a company in Poland.
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