How to get a licence to gamble in Curacao in the year 2022
Most operators choose to get a Curacao gaming licence because it is cheap and has reasonable requirements.
This article will walk you through every step of getting a gambling licence in Curacao. Getting a licence may seem like a bureaucratic nightmare, but this article will help you through it.
Curacao has rules and licences for online gambling.
Curacao is an island in the Caribbean and one of the countries that make up the kingdom of the Netherlands.
Businesses in shipping, oil refining, international trade and finance, and other fields have already seen how valuable Curacao’s warm weather and tropical way of life are. Most of the country’s economy comes from tourism and other services, like iGaming, which is a form of online business.
Curacao has been in the iGaming business longer than any other country. In 1993, the National Ordinance on Offshore Games of Risk went into effect. This made it legal to gamble online, and in 1996, the government started giving out licences. Online gambling quickly joined the list of international businesses that saw Curacao as a good place to set up shop. With its modern infrastructure and business-friendly tax rates, Curacao is a great place to do business offshore, and it has become one of the most popular places in the world to get a licence for an online gambling business.
In 2019, the Curacao Gaming Control Board became the AML-CFT (anti-money laundering and countering the financing of terrorism) supervisor for all gaming activities in or from Curacao, including online gambling. The Ministry of Finance and Financial Intelligence Unit (FIU), which used to be called the Meldpunt Ongebruikelijke Transacties, is also in charge of regulating online gambling (translated into English as the Unusual Transactions Reporting Center). Curacao doesn’t have a single set of rules and licences. Instead, it has a system based on different types of licences.
Only two kinds of licences exist: the master licence and the sub-license. Master licences can only be given out at the Minister of Justice’s will. Both master licences and sub-licenses let the holder do all kinds of gambling. The main difference is that the holder of a master licence can also give out sub-licenses.
Each master licence is good for five years. As long as the master licence is still good, the sub-licenses that go with it are good forever. Since 1996, there have only been 4 people who have had a master licence. The only way to get a Curacao e-Gaming licence is to get a sub-license from one of them. You can’t apply for a master licence. Each person who has a master licence has its own rules about things like how to handle disagreements between players and operators.
On Curacao, there are four people who have master licences.
Financial experts say that the iGaming industry is not only big, but also growing. Every year, statistics show that revenues are going up, which gives many people hope that profits will stay high for a long time, even if there are problems like pandemics and unstable economies. Online casinos and sportsbooks will always be good places to put your money because they are ways to have fun that people will always want to do.
Getting a gaming licence has its perks
First and foremost, getting a licence gives business owners peace of mind that they can run their business without worrying about legal consequences.
You can open a merchant account if you have a licence. Without a licence, most banks won’t let an online casino business open an account.
Players are more likely to trust a casino that has a licence because operators have to go through a process of being checked out.
Having a licence helps the iGaming ecosystem by fighting stereotypes and making the gaming industry more fair and open.
Software and payment service providers are more likely to work with your casino if you have a licence. Many of them won’t work with operators who don’t have a licence.