HOW TO START A SPORTS BETTING BUSINESS IN RWANDA

HOW TO START A SPORTS BETTING BUSINESS IN RWANDA

How to start sports betting business in Rwanda, is question often asked by many investors, entrepreneurs & their agents.

Rwanda today attracts many businesses in sports betting, casinos and other several related business because of its stable political atmosphere.

Gaming means any game played with cards, dices, tickets, equipment or any mechanical, electronic or electromechanical device or machine for money, property, checks, credit or credit card or any representative of value

Also, gaming license refers to a certificate issued by a competent organ authorizing a person to engage in gaming activities.

Furthermore, permit refers to a special authorization granted to a promoter not holding a gaming license to organize other lotteries from time to time;

Some of the gaming businesses allowed in Rwanda include the following:

• Lottery
• Casino
•  Gaming machine
• Sport books
• Internet gaming

Sports betting License is  valid for a period of not less than ten (10) years renewable. In case of its  expiration, the holder goes through the same procedure to get a new one.

Sports betting business are not allowed to employ people below the age of 16 years thus one must be 18 years  and above to work in betting company.

How  many sports betting businesses are in Rwanda

Requirements for  Starting a sports betting business in Rwanda

• Never having been denied a gaming license by the Regulatory Authority or any other

  jurisdiction;

• Never having had a gaming license suspended or revoked in Rwanda or in other jurisdiction;
• Possessing gaming premises that are deemed suitable by the Regulatory Authority;
• Compliance  with all Rwandan  laws
• Not having been convicted of any criminal offence involving fraud, money laundering or dishonesty;
•  Not being subject to foreclosures or insolvency proceedings of any magnitude;
• Having evidence of adequate financing available to pay all obligations and to provide

  for adequate working capital to finance the gaming operations

  Key documents necessary for application for  gaming license

• Two copies of a Business Plan
• Duly filled-in application forms and receipt of application fees
• Applicants’ profile and duly filled-in Personal details Form for each director of

  the company

• A copy of the company’s Memorandum and Articles of Association;
•  A certified copy of the Certificate of company incorporation
• Certificate from a Rwandan bank indicating its address and confirming

  existence of all accounts in the license applicant’s names and the availability of

  funds therein related to or to be used in the gaming activities

• Proof of citizenship of every director and shareholder. This includes a clear photocopy of the first two pages of a passport, a consular card for foreigners and two (2) passport size photographs;
• Statements from five (5) persons who aren’t relatives of the applicant detailing the names, positions held, complete address vouching for the good moral character and financial responsibility of the applicant and proposed directors and Shareholders.
• A Tax Clearance certificate from a country of residence for the applicant and every director and shareholders;
• A Tax clearance certificate from Rwanda Revenue Authority for the company or the applicant
• Terms of contractual obligations of employees, agents and subcontractor;
• A one (1) year insurance cover either provided by a legally established bank operating in Rwanda or provided by a legally established insurance company operating in Rwanda to act as a guarantee and proof of possession of adequate financing available to pay or settle all obligations arising from the licensed gaming activities.