Curacao

Although this small Caribbean island in the Antilles may be unknown to many, it is certainly well-known amongst online gaming enthusiasts. In fact, the island of Curaçao, with its Gaming Control Board, is one of the oldest licensing institutions in the world for betting and online gambling platforms.

Online sports betting has been legal since 1993, and Curaçao has issued licenses since 2002. With over 450 licensed operators, the Curacao gambling license is ideal for new operators or startups that are looking for a streamlined path to launch their platform.

Curacao online sports betting license - Full breakdown

If a startup or entrepreneur is looking to expand into online gambling, Curacao is the premier choice. Its iGaming licenses are the most popular in the world, with approximately 450 online gambling operators operating from this jurisdiction. Thanks to its easily accessible licensing jurisdictions, licenses are cost-effective, and the applications are hassle-free.

Indeed, they cover every kind of iGaming activity ranging from sports betting to online casinos and from lotto to live games in one license. Also, game providers, software developers, and operators come under this license. This provides gaming companies with a high level of flexibility if they decide to diversify their portfolio of offerings in the future.

There are two types of gambling licenses given in Curacao. The first is a master license granted by the Ministry of Justice to private entities (authorized to operate as gambling regulators). The second is a sublicense granted by master license holders to gambling operators such as bookmakers.

Moreover, the Curaçao government has made this process relatively simple. To get a license, one has to meet the following requirements.

1. Incorporate a business in Curaçao.

2. Gather the necessary paperwork.

3. Submit an application and pay the application fee.

4. Wait approximately six weeks.

5. Begin operating the online casino.

In terms of cost, a “master” gambling license costs approximately $34,000 to obtain, followed by $5,600 per month for the first two years. Following that, the operator can negotiate future fees with the government.

Gambling regulation in Curacao

Founded in 1996, Curaçao eGaming oversees the country's gambling-related licensees. In 2002, Curaçao eGaming separated from the offline regulator, Curaçao Gaming Control Board. It offers a single license covering all types of gambling. Curaçao initially drew bookies in with low corporate tax rates of around 2% and benefits like no sales tax and no VAT.

Despite that, Curaçao's regulatory body has suffered an image crisis due to the licensing processes being less than rigorous. Its only requirements are having enough funds and passing a third-party audit. Hence, many bettors are wary of playing with a Curaçaon betting site owing to lack of regulation.

Because of this hands-off approach, the regulatory body rarely intervenes between operators and players. Hence, earning it a bad reputation for customer service. Players who bet with companies based in Curaçao have suffered as a result of this. Their wagers are not as safe as they would be if the online casino were in a country with a more reputable licensing system and regulatory body.

However, Curacao is currently working on a plan to regulate online gambling, but no real changes have been seen so far.

Pros: Why would a sportsbook want a gambling license from Curacao?

This particular gambling license is so popular because it's inexpensive and generally less expensive compared to other jurisdictions. The application and license processing is also fast; the entire process only takes about six weeks.

Additionally, a single license covers all gambling options. Whether an individual wants to start a casino, offer sports betting, or do both, a single Curacao license will be enough to establish a legal foundation for their business.

Lastly, there is no gambling tax; license holders are exempt from paying tax if they earn money outside the country.

Recent gambling-related news and updates from Curaçao

• April 29, 2024: Following stern criticism from the online gambling industry stakeholders, Curaçao announces amendments to its latest gambling legislation update regarding lawyers' accreditation requirements and financial independence for the Curaçao Gaming Authority.

• April 2, 2024: CGCB agrees to extend its license application period by a month through April 30 after many issued applications fell below the envisioned standards. The initial deadline for the applications was March 31.

• February 5, 2024: CGCB grants the first-ever direct license to a Malta-based online casino operator, Rhino Entertainment Group. The company's flagship brand is CasinoDays, and it is available in multiple markets.

• November 1, 2023: As a part of the complete overhaul of Curacao's gambling market, CGCB confirms the launch of a brand-new online portal, meaning the portal is now accepting applications from gambling operators for Curacao iGaming licenses.

• June 22, 2023: Curaçao plans to implement stricter regulations and improve player protection in its online gambling industry through the National Gambling Ordinance (LOK), pending approval from the parliament. The new legislation will address money laundering, fraud prevention, and player safety. Implementation is set for September 1, 2023.