If you are getting into the game of skill gaming entrepreneurship, you will need a skill gaming merchant account. However, its most likely the payment processor will ask for a certified legal opinion. There are multiple reasons why credit card processing companies ask for legal opinions. These are a few listed.
- The business model is legit or not.
- Does the merchant have the right to offer the said products and services?
- Can the merchant operate in target locations/nations?
- Does the merchant comply with the card scheme and local/international rules?
In the case of skill gaming, it’s most likely that the processing company wants to know if the merchants business model is based on the game of skill or game of chance. If it is based on luck, then a licence is mandatory to operate the business in most nations.
Here is the list of Law firms/Legal Service providers that offer professional advice in gaming-related sectors.