If you're still considering gambling licenses and the European Balkan gambling market, Montenegro is worth looking into. While Montenegro's gambling market isn't the largest, it's showing strong growth—reportedly reaching $20 million. Whether you're planning to obtain a Montenegro gambling license or expand your business into this market, understanding the application process, requirements, and regulations is essential. Today, TC-Gaming White Label will break down everything you need to know about this licensing opportunity.

Where is Montenegro?

Montenegro is a small coastal country in Southeastern Europe, located on the Balkan Peninsula. It shares borders with Serbia (east), Bosnia and Herzegovina (northwest), Croatia (west), Albania (southeast), and the Adriatic Sea (southwest).

1. The historic city of Kotor, a UNESCO World Heritage Site, is one of Europe's top tourist destinations.
2. Montenegro covers 13,812 km², making it smaller than China’s Hainan Province.
3. Montenegro became an independent nation in 2006, separating from Serbia and Montenegro.
4. With relaxed gambling policies and proximity to major European markets, Montenegro has recently gained attention as an emerging location for iGaming white label registration.

Montenegro: Population, Economy, and Religion

As of 2023, the population is approximately 623,000. The main ethnic groups include Montenegrins (41.1%), Serbians (32.9%), Bosniaks (9.4%) and Albanians (4.9%). The official language is Montenegrin. In terms of religion, Orthodox Christianity is the main faith

Economically, Montenegro is dominated by the service industry, with tourism as its important pillar. In addition, manufacturing and agriculture also occupy a certain proportion. In recent years, with the improvement of the external environment and the advancement of various economic reforms, Montenegro's economy has gradually recovered and is showing an overall growth trend;

Montenegro population

As of 2023, Montenegro's total population is approximately 623,000. Among them, Montenegrins: 41.1%, Serbs: 32.9%, Bosniaks: 9.4%, and Albanians: 4.9%

Montenegrin language

The official language of Montenegro is Montenegrin, but Serbian, Bosniak, Albanian and Croatian are also spoken.

Montenegrin Religion

Orthodox Christianity is the dominant religion in Montenegro, with most Orthodox believers affiliated with the Serbian Orthodox Church or the Montenegrin Orthodox Church.

Islam and Catholicism, dominated by Bosniak, Albanian and Croat groups.

Montenegro Economy

The service industry occupies the main part of Montenegro's economy, and tourism is an important pillar of the national economy. Manufacturing and agriculture also account for a certain proportion. In recent years, Montenegro's economy has gradually recovered, driven by the improvement of the external environment and economic reforms, and has shown an overall growth trend. GDP per capita (2023): approximately $12,016(World Bank data).

Montenegro Internet Situation

Montenegro Internet Penetration

• Total Internet Users: 560,200
• Internet Penetration Rate: 89.4%
• Internet User Growth (2023-2024): Decreased by 301 users (-0.05%)
• Population Without Internet Access: 661,000 (10.6% of the total population)

Montenegro Internet Speed

• Average Mobile Network Speed: 55.47 Mbps
• Average Fixed Broadband Speed: 77.45 Mbps

Montenegro Social Media Usage

• Total Social Media Users: 405,700
• Social Media Penetration Rate: 64.8%
• Social Media User Growth (2023-2024): +55,000 (+15.6%)
• Social Media Users Aged 18 and Above: 390,800 (79.5% of the 18+ population)
• Gender Distribution: Female 53.7%, Male 46.3%

Major Social Media Platforms in Montenegro

Montenegro has a high internet and social media penetration rate, with Instagram, Facebook, and TikTok being the most widely used platforms.

Facebook

• Total Users: 313,700
• Penetration Rate: 50.1% of the total population, 56.0% of internet users
• User Growth (2023-2024): +32,000 (+11.2%)
• Gender Distribution: Female 46.7%, Male 53.3%

Instagram

• Total Users: 405,700
• Penetration Rate: 64.8% of the total population, 72.4% of internet users
• Users Aged 18 and Above: 76.5%
• Gender Distribution: Female 53.7%, Male 46.3%

TikTok

• Users Aged 18 and Above: 286,000
• Penetration Rate: 58.2% of the 18+ population, 51.1% of internet users
• Internet user coverage: 51.1%
• Gender Distribution: Female 48.2%, Male 51.8%

Facebook Messenger

• Total Users: 211,000
• Penetration Rate: 33.7% of the total population, 37.7% of internet users
• Users Aged 18 and Above: 39.8%
• Gender Distribution: Female 46.4%, Male 53.6%

LinkedIn

• Total Users: 130,000
• Penetration Rate: 20.8% of the total population, 23.2% of internet users
• User Growth (2023-2024): +20,000 (+18.2%)
• Gender Distribution: Female 49.5%, Male 50.5%

X (Twitter)

• Total Users: 77,500
• Penetration Rate: 12.4% of the total population, 13.8% of internet users
• Users Aged 18 and Above: 14.6%
• Gender Distribution: Female 37.1%, Male 62.9%

Mobile Connectivity in Montenegro

• Total Active Mobile Connections: 1.41 million
• Mobile Penetration Rate: 225.4% of the total population
• User Growth (2023-2024): +137,000 (+10.8%)

Regulation of Gambling in Montenegro

Montenegro legalized the gambling industry in 2006 and further opened up iGaming in 2011. By 2025, the Montenegrin gambling market is expected to exceed $20 million. Despite its relatively small size, Montenegro has become an attractive market for gambling companies and an alternative licensing option due to its low tax rates and relaxed regulatory environment.

• The gambling industry in Montenegro is regulated by the Law on Gambling, which defines the rights and obligations of gambling operators.
• The Games of Chance Administration (AGC) is the regulatory body responsible for issuing gambling licenses, supervising gambling activities, and ensuring compliance with anti-money laundering (AML) regulations.
• Only advertising restrictions for minors

Draft revision of Montenegro’s Gambling Law in 2021 (not yet adopted)

In 2020, Montenegro announced its intention to update the country’s gambling laws to bring them in line with European standards. In early 2021, after two months of public hearings, the government presented a draft law that included a number of regulatory updates.

1. Slot machines can only be used in casinos.
2. Bettors are required to provide more detailed personal information when registering.
3. Players are prohibited from accessing offshore gambling sites.
4. Gambling license holders in Montenegro are required to demonstrate payment of player winnings, compliance with anti-money laundering procedures, reporting of suspicious activity and maintaining a physical presence in Montenegro.

Additionally, new capital requirements for gambling license holders were proposed:

1. €550,000 for casinos
2. €500,000 for iGaming operations
3. €500,000 for lottery operators
4. €250,000 for sports betting operators
5. €75,000 for raffle prizes

In 2024, Montenegro revised its gambling regulations to ban modern electronic payment methods, including Apple Pay, PayPal, and mobile money transfer services. However, this amendment faced strong opposition, leading to a petition with 25,000 signatures—approximately 5% of the country's registered voters. The changes also drew criticism from the European Union (EU) and other stakeholders, who argued that these restrictions violate EU principles, isolate Montenegro from global financial practices, increase money laundering risks, and weaken investor confidence.

Advantages of Montenegro Gambling License

Although the application process for a Montenegro gambling license is quite strict, it offers several advantages, such as:

Low Tax Rates & Operating Costs

1. Lower tax burden compared to many other European gambling markets. Operators pay either a fixed monthly fee or a GGR-based tax.
2. Exempt from Value-Added Tax (VAT).

High International Recognition

Montenegro is a legally recognized gambling jurisdiction in Europe, acknowledged by the international gambling industry.

Relatively Fast Application Process

Compared to other European countries or the United Kingdom, the application time for a gaming license in Montenegro is shorter. Approval can be completed within 2-3 months.

Applicable to Multiple Business Models

A Montenegro gambling license covers both land-based casinos and iGaming operations. A single license allows multiple gambling activities without the need for additional licenses.

How to Apply for a Montenegro Gambling License?

Important Note: To establish a gambling company in Montenegro, operators must first obtain a local land-based gambling license before applying for an iGaming license.

Montenegro Gambling License Application Process

• Prepare Application Documents
• Gather all required documents and ensure compliance with Montenegro's regulatory standards.
• Submit Application
• Submit a complete application to the Montenegro Gambling Authority (AGC) to start the review process.
• Regulatory Review
• Authorities will assess the applicant’s financial status, business model, and criminal records.
• The review period typically takes 2-3 months.
• On-Site Inspection
• AGC may conduct physical inspections of the operator's office or casino facilities.
• License Approval
• Once approved, operators receive a Montenegro gambling license, allowing them to legally operate gambling businesses.
• Montenegro Gambling License Requirements
• Before applying, companies must meet the following basic requirements:
• Company Registration: Must be registered as a Limited Liability Company (LLC) or a Joint-Stock Company (JSC) in Montenegro.
• Shareholder & Management Requirements: At least one shareholder and one director are required. Directors do not need to be Montenegrin residents.
• Legal Compliance: Company shareholders, directors and officers must have no criminal records and must have no drug history.
• Financial stability: The company needs to demonstrate that it is financially stable and has sufficient funds to maintain operations.

Required Documents for Application

1. Company Name & Registered Address
2. Company Registration Documents
3. Memorandum of Association
4. Memorandum of Association
5. Three-Year Business Plan
6. Gambling Game Details
7. Game Rules & Casino Operational Guidelines
8. Technical Specifications (e.g., slot machines or gambling software)
9. Background Checks for Key Personnel
10. Proof of Ownership or Lease Agreement for Casino Premises
11. €90,000 bank deposit or financial guarantee (to ensure player payouts)

Minimum Registered Capital Requirements:

1. Casino: €300,000
2. iGaming: €500,000
3. Lottery: €500,000
4. Sports Betting: €250,000
5. Raffle Games: €75,000

Montenegro Gambling License Fees & Taxes

To operate a gambling business in Montenegro, different fees must be paid, including application fees, annual fees, and gambling taxes.

License Fees

1. iGaming: Fixed monthly fee of €10,000
2. Land-Based Casino: 10% of GGR + Annual fixed license fee of €50,000
3. Betting Shops: 10% of GGR + €500 per retail outlet per month
4. Lottery & Bingo: 10% of total sales after deducting prize payouts

Montenegro's low tax rates make it an attractive destination for gambling operators looking for a cost-effective and internationally recognized licensing jurisdiction.

Summary

Montenegro is becoming increasingly popular in the iGaming industry. While its market may not be large, it is projected to reach $20 million by 2025. The key appeal lies in its low taxes and relaxed regulations, making it an attractive choice for many iGaming operators. As global regulations on online gambling become stricter, jurisdictions like Montenegro, which offer more lenient licensing conditions, are gaining traction.

Montenegro's iGaming license comes with several advantages: low taxes, transparent compliance, and relatively easy application requirements. For operators looking to enter the European market, this presents a convenient and cost-effective option. While its legal framework is still evolving, Montenegro offers lower operational costs, wider market coverage, and faster approval processes compared to other regions. For gambling companies seeking a legitimate license to operate, Montenegro provides a practical and efficient solution. It is especially suitable for businesses aiming for compliance, international market expansion, and stable operations.

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