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The global iGaming market is booming, with revenue expected to reach hundreds of billions annually as a new wave of startups enters the arena. According to the most recent estimates, the online gaming market was worth USD 95.5 billion in 2024 and is expected to grow at a CAGR of 10.5% to USD 257 billion by 2034. In this environment, many founders are rethinking the old wisdom that the most obvious choice is not always the wisest one, especially when it comes to selecting a gaming license hub when the market is largely concentrated in one or two options now considered “mainstream.”
More and more founders now assume the best growth opportunities lie in the hubs with less competition, beyond the most obvious choices. With Anjouan’s popularity growing substantially throughout 2024-25, issuing a rising number of gaming licenses during the period, and becoming a common solution for startups, many are now exploring less popular alternatives that promise to be as rewarding over the long term.
Although Anjouan deserves its recognition given its clear range of advantages, its dominance has drawn attention away from a number of largely undervalued but highly startup-friendly alternatives. Jurisdictions like Nevis, Tobique, and other peers offer the sought-after mix of cost-effectiveness, efficient approval procedures, and regulatory environments aligned with the needs of new businesses without the overconcentration typical of most popular licensing hubs.
Rather than following the crowd and choosing what everyone else does, entrepreneurs should keep in mind that there is no universally applicable license that covers all needs, and instead explore whether undervalued jurisdictions better match their ambitions and long-term goals.
Why Do Startups Follow the Anjouan Gaming License Path?
In recent years, Anjouan has evolved from a relatively niche offshore jurisdiction into what many now call the “default choice” for a startup gaming license. When it comes to iGaming licensing, almost any forum, LinkedIn post, or industry article on the matter will inevitably include Anjouan as one of the primary options to choose. As a result, a growing majority of founders follow this path not necessarily because Anjouan is a universal best fit, but since it’s the most visible option.
This phenomenon is largely fueled by a combination of herd behavior and confirmation bias. Naturally, entrepreneurs researching a gaming license on Google repeatedly encounter the same jurisdiction across search results.
Over time, this creates the perceived credibility and starts a cycle of confirmation bias: once a founder believes Anjouan is the best startup gaming license, they start seeking information that reinforces this assumption while ignoring the alternatives. Instinctively, most of them follow the crowd, overlooking jurisdictions that may offer stronger advantages for their specific business model.
At the same time, many traditional legal consultants reinforce this trend, promoting selected gaming licenses that appear the easiest to sell rather than being the most suitable for each project. Unlike Inteliumlaw, where a tailored approach is in our DNA, selling the same well-known jurisdiction is much easier for most consultants than conducting a deep jurisdiction analysis for each startup; moreover, for some of them, “sold licenses” volume matters more than the result’s effectiveness. In the end, 9 out of 10 startups approaching such legal solution providers are guided toward the same mainstream solution regardless of their operational structure, target markets, or long-term ambitions.
The most obvious solution is rarely the most suitable. Entrepreneurs should not choose a jurisdiction because it is currently popular but because it genuinely supports their business goals. Beyond the mainstream choices, 4 gaming license options remain surprisingly overlooked, receiving less media attention while offering similar low entry barriers, fast approvals, and flexible structuring options that match startups’ growth ambitions.
Hidden-Gem Gaming Licenses for Ambitious Startups
1. Nevis Gaming License
In an industry “obsessed” with the same jurisdiction, the Nevis gambling license is quietly emerging as one of the sector’s most underestimated choices. Unlike more established licensing hubs with a more aggressive marketing presence, the gaming license in Nevis has not yet become the default recommendation featured on every industry-wide media or legal consultancy website, with many operators approaching it with caution. Moreover, given it is still relatively new to the gambling industry, many details around how payment processors, technology providers, and other B2B partners treat its license holders remain uncertain.
Yet, this lack of mainstream visibility doesn’t undermine its strengths, with the Nevis gaming license being especially attractive for modern early-stage gambling businesses.
Key Advantages:
- All Gambling Verticals Covered. Nevis supports a broad range of gaming activities, allowing startups to scale without the need to obtain separate authorizations.
- Zero Taxes. The jurisdiction provides several exemptions for taxation of corporate income.
- OECD and FATF compliance. Despite its offshore positioning, Nevis maintains compliance with international standards, strengthening its overall credibility in the eyes of banks and other relevant institutions.
- Cost-Effective Setup. Compared to other startup-friendly options, the initial and operational Nevis gaming license costs remain highly accessible.
- Fully Digital Registration Process. Entrepreneurs have the chance to complete the company formation and licensing processes 100% remotely.
- Crypto-Friendly Stance. The jurisdiction remains notably open toward blockchain- and crypto-native gaming models.
Learn more about why a Nevis gambling license may be the perfect fit via this link.
Nevis is particularly well-suited for startups seeking robust corporate structuring, operational flexibility, and strategic asset protection right from the outset.
2. Tobique Gaming License
As the “Curaçao vacuum” has ended, newly established Tobique gaming license has started drawing serious attention from an ever-growing base of gambling founders.
Located in Canada, Tobique has often been overlooked by many operators, assuming it would bring higher costs and stricter oversight, while others dismissed it simply because it lacked the media presence of better-known jurisdictions. Yet, amid growing regulatory scrutiny, approval delays, and reputational challenges in some established licensing hubs, the Tobique gambling license is gaining relevance as a potentially more effective market-entry option.
Key Advantages:
- Fast Processing Time. Licensing can often be completed within approximately 4 to 10 weeks, allowing startups to enter the market very quickly (by industry average standards).
- Zero Taxes. Tobique offers a highly attractive fiscal environment with no gaming tax and no corporate tax imposed on gambling businesses.
- Basic Compliance Requirements. The regulatory requirements are generally considered lenient compared to more heavily restricted European licensing regimes.
- Multiple Verticals Under a Single License. Casino, sportsbook, lottery, and other gaming models typically fall under the Tobique gaming license ecosystem.
- Crypto-Friendly Approach. A gaming license in Tobique has become increasingly attractive for Web3 and crypto-oriented gaming startups seeking more flexibility under one of the regulated markets.
- Growing Reputation. Although still emerging, the jurisdiction is slowly gaining more recognition across the global iGaming sector.
With all the aforementioned in mind, the Tobique gambling license is especially attractive for innovation-focused B2C operators seeking flexibility, speed, and a practical route into the market without sacrificing regulatory credibility.
3. Vanuatu Gambling License
In the longstanding competition among gambling hubs to attract more businesses within their borders, Vanuatu has spent years hidden in the shadows of larger hubs. While Curaçao once dominated industry discussions and Anjouan later captured rising demand from operators leaving Curaçao, Vanuatu gaming license stayed out of the noise, steadily developing a regulatory environment that has only now started gaining serious recognition.
While many remain unfamiliar with the jurisdiction or perceive it as “too offshore,” Vanuatu continues to be largely underrated due to its lack of visibility compared with more widely discussed jurisdictions. Unlike more prominent hubs, Vanuatu has never relied on major gaming conferences, affiliate marketing, or the sector’s licensing consultancies to win attention. As a result, many entrepreneurs simply overlooked it or assumed it lacked credibility. Yet, the jurisdiction has built a business-friendly ecosystem that is now gaining relevance in a more selective licensing landscape.
Key Advantages:
- Thriving Online Gambling Market. The Vanuatu gaming license has been steadily attracting more attention from different gambling businesses looking for a jurisdiction for a setup.
- Low Taxation. The country offers a favorable tax environment, significantly reducing the fiscal pressure on startups with only a 1% tax on gross gaming revenue (GGR).
- Affordable Setup and Maintenance. Compared to many established gaming hubs, entry barriers with a Vanuatu gambling license remain relatively low.
- International Market Access. The setup allows gaming businesses to operate with a broad international reach (subject to each operator’s risk appetite and local restrictions).
- Robust Licensing Process. Startups can start operating notably earlier than it would take under more strict regimes, with the incorporation process being relatively quick, according to the Vanuatu Gaming Authority (VGA).
- Notably Pleasant Regulations. The jurisdiction is generally considered startup-oriented rather than excessively restrictive.
A Vanuatu gaming license is especially relevant for gambling businesses looking to enter emerging markets or test a minimum viable product (MVP) concept before expanding into more established jurisdictions. As leading hubs become increasingly overcrowded, this jurisdiction offers the much-needed “room to breathe” for founders with its attractive cost structure, operational flexibility, and robust approval timelines.
4. Costa Rica Gambling License
Long before many modern offshore licensing hubs became popular, Costa Rica was already an acting powerhouse in online gaming. Yet, the jurisdiction continues to sit outside the mainstream narrative, as it was never positioned as a standard gaming hub, blurring market perception for years.
Compared to Curaçao or Malta, gambling operators conduct business through a Costa Rica data processing license and a local company formation rather than a standalone gaming license model. This factor has made the jurisdiction less appealing to many businesses, especially given its limited promotional activity around its gaming ecosystem. With this uncertainty creating unnecessary fears about Costa Rica’s gambling licensing model and scaring operators away, the paradox is that one of the industry’s oldest hubs for online gaming is becoming one of its least talked about.
Today, however, as startups look for leaner alternatives to increasingly bureaucratic licensing systems, a gaming license in Costa Rica is once again becoming relevant for startups seeking a more flexible path forward.
Key Advantages:
- Cost Efficiency. Costa Rica remains one of the most affordable jurisdictions for running gaming operations in multiple verticals, whether an online casino, lottery, or betting platform.
- Rapid Market Entry. Entrepreneurs can typically establish operations notably faster, usually in 2 to 6 weeks, than it would take in more rigid licensing regimes.
- Global Operational Reach. The absence of country-targeting restrictions gives gambling businesses the necessary freedom to target multiple international markets without any barriers (subject to local licensing requirements).
- Zero Gaming Tax. Costa Rica does not impose a dedicated gaming tax on its license holders, creating significant room for reinvestment back in the business.
What many previously regarded as an unlikely choice is now attracting crypto casinos, blockchain-based gaming companies, and other businesses looking to enter the market ahead of the curve.
Final Thoughts: How to Choose the Best Gaming License for Your Startup
The boom in the Anjouan gaming license application in 2024 and 2025 reflects a wider iGaming shift toward licensing solutions that are faster, more accessible, and, more importantly, widely talked about online. In today’s market, however, where entire gaming ecosystems can shift within months, visibility should not be confused with suitability, as the most discussed jurisdiction may not align with a project’s future ambitions.
NOTE: This does not suggest that the Anjouan gaming license is a weak solution or that its current demand is merely a short-lived trend. Rather, the point is that while Anjouan currently attracts the vast majority of industry startups’ attention, operators should compare it against other countries (that may turn out equally strong and compelling) before committing to any jurisdiction.
The reality is that a gaming license carries consequences far beyond compliance; it influences banking relationships, investor perception, operational flexibility, and the business’s ability to scale over time. In this respect, lesser-known jurisdictions prove to be offering selected startups the right combination of flexibility, certainty, and efficiency required to fulfill their long-term ambitions and scale with confidence.
The “one-size-fits-all” licensing is no longer a reliable workaround, as operators serious about growing sustainably over the long term need legal structures built around their actual business model. At Inteliumlaw, we help early-stage gaming startups assess their real operational needs before selecting the best matching their ambitions, target markets, and long-term plans. Whether the optimal route leads to Curaçao, Anjouan, Nevis, Tobique, Vanuatu, Costa Rica, or another market, our role is to identify the jurisdiction that serves the business best, not the one receiving the most attention.
Contact Inteliumlaw for professional support in securing a gaming license made to match the business goals and get a competitive advantage that others only recognize years later.
