Curacao is known by many as a haven for offshore sportsbooks because of loose restrictions for getting a gambling license. However, gambling is just one part of its economy and is currently financially hurting. This is because the island of Curacao has been hard hit by the Coronavirus due to the lack of tourist. Thus, in order to get help from the Dutch government, Curacao will overhaul its Gambling Restrictions. However, for many sportsbooks, their question is How will the Curacao New Gambling Regulations Affect Bookies?
Curacao has been complying with the Dutch government and have now set a date for the gambling regulations overhaul. According to Gambling Software companies, Curacao will introduce its own gambling regulators in Match of 2021. In return, the Dutch government have sent 2 payments to Curacao and a third one will arrive before year’s end.
While this is great for Curacao, sportsbook operators with licenses in Curacao are skeptical. This is because it means that they will have stricter regulations that will be more on par as that of Europe. In addition, it will make obtaining a gambling license in Curacao more difficult.
What the Curacao New Gambling Regulations Mean for Bookies
According to Sportsbook Pay Per Head agencies, the new gambling laws will have three main affects. The first is that it will increase the prices for master licenses. The second is that it will prevent player targeting. And last, and the most important is that it will increase sportsbook oversight and inspections. Therefore, they will have stricter banking rules as well as stricter gambling provisions.
Online sportsbooks seeking a license from Curacao will have a tougher time getting one. For example, the price of a gambling license will rise from $35,000 to $134,000 which is a steep increase.
However, it is not all bad news. This is because it means holding a license from Curacao will hold more value. This is because other countries will see a gambling license from Curacao as more legitimate. Therefore, players will feel like they have more protection and are more likely to trust them.
Unfortunately, the offshore sportsbook industry may take a hit from these new gambling regulations. Some countries like Spain, the Netherlands and Australia rely on the gambling sector from Curacao. Thus, it could temporarily affect their bottom line. For example, Australians do use several gambling websites that hold a gambling license from Curacao. Thus, it could affect their operations.