The Caribbean Island nation of Curaçao is well-known amongst gambling operators and sports bettors. This is because they offer a gambling license with a somewhat liberal licensing process in comparison to other countries. In addition, the cost of a license is much cheaper than other countries making it very attractive to offshore sportsbooks. However, due to a lot of pressure from the international community, Curaçao is Introducing New Online Gambling Regulations.
In the past, international pressure for their licensing procedure has never been much of an issue for Curaçao. Despite being part of the Kingdom of the Netherlands, they always had their own autonomy. However, ever since the COVID-19 pandemic, they had to rely on the Netherland in their fight against the pandemic. This of course came at a price, which is how they run their only gaming licenses. Especially since the Dutch government is now regulating online gambling.
According to Sportsbook Pay Per Head news, the new online gambling regulations will introduce stricter regulations to fight illegal gambling. This will all be done under a new and independent licensing authority that will create higher entry barriers for operators. The new independent state licensing body will be known as the Curaçao Gaming Authority (CGA).
Curaçao is Introducing New Online Gambling Regulations for Tighter Control
Of course, Curaçao Introducing New Online Gambling Regulations is not a surprise to offshore gambling operations. Back in 2020, bookies knew that Curaçao would have new gambling regulations. It was just a matter of when.
Now that Curaçao’s Council of Ministers have given their approval to overhaul the gambling regulations, here is what to expect:
- The CGA will be the primary regulatory body issuing license to both B2C and B2B companies.
- License fees will be €12,000 per year plus a monthly fee of €250 for each domain under the license.
- There will also be an application fee of €4,000.
- License holder must have at least 3 employees in Curaçao
- Tighter anti-money laundering protocols
- The CGA will have the authority to revoke licenses
Curaçao was one of the first countries to issue online gambling licenses issuing its first one in 1996. However, the power to issue license were done by 4 companies that held master licenses. From there, these companies, Cyberluck Curaçao, Gaming Curaçao, Curaçao Interactive Licensing, and Antillephone gave sub-license to other companies.
Needless to say, these companies were basically in charge of issuing gambling license with little to no government interference.
Under the CGA, operators will continue to have no specific regulations that will restrict operators from targeting specific markets. The main difference will just be stricter protocols to adhere.
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