Costa Rica Licensed Bitcoin Betting and Casino Sites

Actually, there is no such thing as a Costa Rica gaming license, there is only a thing called Costa Rica based sports betting or casino entity. It is legal to have such an entity in Costa Rica and target the rest of the world but there is no legal framework to do that. They operate in the absence of any regulations. Costa Rica 'licensed' Bitcoin betting and casino sites have legal entities but does not have any sports betting or casino licenses from local gaming authorities. There is no local online gaming authority.

In order to have a legal ground on their operations, Bitcoin Betting and Casino sites setup a company in Costa Rica. Even tough there is no such thing as an online gambling license in Costa Rica, they have legal companies which are allowed to offer online gambling to their customers by Costa Rican law. This is sufficient legal ground for many operators, especially to the ones which target US customers.

In order to setup a company in Costa Rica you either have to get control over a shelf company which was incorporated before, or you have to setup a new one. In order to setup a new Costa Rican company you have to go through onboarding process which involves passing through due diligence checks and submitting all paperwork that is required under Costa Rican law. There is also a processing time where you will have to wait for your company to be incorporated.

As long as you do not target local people of Costa Rica, they allow you to target any human being in the rest of the world. That's why many US targeted operators get their companies based in Costa Rica. Therefore they have a legal ground to target anyone outside Costa Rica.