Legal support of gambling projects purchase and sale transactions

Elena Mashina

One of the options for the emergence of rights to a gambling platform is the acquisition of a turnkey business. In this case, the finished platform is transferred. Both the buyer and the seller of a gambling project are interested in providing for all possible conditions, thereby reducing the risk of a dispute in the future. In this article, you can read about the terms of a gambling project sale and purchase transaction.

Content:

Technical conditions for the sale and purchase of a gambling project

Games as a condition for the sale of a gambling project

The basis of any gambling project is various variations of games. Therefore buying project you should pay attention to the number of games on offer.

Software for the sale of a gambling project

The software should be as updated as possible and should not contain bugs. It should also be adapted for different types of devices, for example, so that players can log in from mobile devices, because this is the main source of profit for some companies.

Payment systems when selling a gambling project

Gambling activity is extremely risky, and therefore banks and payment systems very often refuse to provide their services. Therefore, when buying and selling a gambling project, the financial aspect occupies a special place. You need to know which banks accounts are opened, whether acquiring is connected, which payment system is selected. To do this, you can check the contracts that must be concluded directly with providers. You can read about how to do it yourself in our other articles on account and acquiring for gambling.

Support for the sale of a gambling project

If the buyer of the project is not able to independently carry out activities, in this case he may be offered technical support for a certain period. A similar condition may be provided for marketing advice.

Legal conditions for the sale and purchase of a gambling project

License for the sale of a gambling project

A license is a prerequisite for carrying out legal gambling activities. Therefore, when buying a gambling project, you should immediately provide for a licensing condition. If, in accordance with the law, a gambling license is retained upon sale, it is worth inquiring about its availability. If the license is not retained, then it is possible to provide for the provision of assistance in licensing in the future.

Certificates for the sale of a gambling project

Certificates primarily increase the confidence of the players, so a company is either required or desirable to have certificates.

The basis of most games is a random number generator, so when buying, you need to pay attention to the presence of the RNG certificate. In some countries, its use is mandatory. This certificate confirms that the "house" acts on the basis of the principle of randomness. You can read more about the procedure for obtaining this certificate in another article from our lawyers “Obtaining an RNG certificate”.

Another certificate worth paying attention to is eCOGRA. In most jurisdictions, it is required to obtain a gambling license. It confirms that the company has passed an independent audit. The player can be confident that the house is following the rules of the game.

Intellectual property when selling a gambling project

A gambling project is a complex system that includes intellectual property. When buying, you must provide that the rights to it pass to you. Probably, the ready-made business will already have its own trademark. Therefore, the buyer needs to get the rights to it. Otherwise it would be a violation of rights.

Thus, the sale of a gambling project is a complex process in which you need to take into account many points. If the buyer cannot get some of the components of gambling, for example, a license, then it is worthwhile to provide for the provision of assistance in licensing. Particular attention should be paid to the financial aspect and intellectual property. Our A4 Law Firm team will help you with these types of transactions to resolve disputes between the seller and the buyer in the future.