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

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.

Cons and Disadvantages of Curacao gambling license

The overall disadvantages of a Curaçao gambling license are as follows. Curaçao's licenses have the lowest rating due to the fact that they don't have to meet as many requirements. As a result, this regulator's license is less reliable than others.

Some markets may also be unavailable. Betting sites with a Curaçao license may be limited to certain international markets. Additionally, sublicense restrictions apply. “Master” license holders audit the sublicense rather than the Gaming Commission.

Lastly, some banking difficulties exist. An online casino based in Curacao may have difficulties with e-wallets such as Skrill and Neteller.

Gambling news and updates from Curaçao in 2023

• 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.

• June 20, 2023: Blaze.com, a Curaçao-based online casino, denies misconduct allegations and supports the investigations launched by Curaçao's finance minister into accusations of money laundering and fraudulent activities. The company addresses claims of misusing funds for influencer endorsements in Brazil.

• June 19, 2023: The finance minister of Curaçao, Javier Silvania, requests the Gaming Control Board to investigate alleged misconduct and irregularities at Blaze online casino amidst accusations of money laundering, fraud, and funds misappropriation for influencer marketing.

• May 29, 2023: The Australian Communications and Media Authority (ACMA) contacts Curaçao's finance minister to address concerns about Curaçao-licensed operators unlawfully targeting Australian players violating local iGaming laws.

• April 3, 2023: Rollbit, a crypto gambling operator, reassures its fans that its license is not at risk and emphasizes the routine re-licensing process. The company maintains open communication with its licensor and promises to update users with further information soon.

• January 4, 2023: Curacao is revising its gambling regulations based on stakeholder feedback and a 2020 agreement with the Dutch government. The current licensing system, which has been remarkably lenient, will undergo significant changes to enhance scrutiny, impose anti-money laundering measures, and require licensees to employ a minimum number of key personnel.

The Most Popular Sports Betting Sites In Curacao

There are a significant number of bookies in Curacao that have provided a fantastic platform for gamblers.

This includes Harry’s Sportsbook. It is one of the top-rated online betting sites in Curacao. A wide range of games is available, ranging from hockey, table tennis, tennis, golf, and eSports. Although there are limited promotional offers, it has a mobile-friendly site that perfectly fits players' mobile phones or tablets. Harry's Sportsbook is a player's best bet if they are looking for a top-notch, trustworthy, and dependable online bookmaker.

Fortune Clock Sportsbook is another well-known sportsbook operator that launched in 2019. Its bonuses are mind-blowing and are tied to the deposit made by the player. The site is easy to navigate because of its design. It also offers a wide range of games, including eSports such as e-basketball and e-Football.

In addition, Maximum Sportsbook has an enormous list of slot and table games. Because of their partnership with top-tier game providers such as NetEnt, BetSoft, and Play'n Go. From the welcome bonus to its other promotions, this site knows how to treat its customers. Honesty, trust, and transparency are their service philosophies—hence making it a trustworthy online gambling site for all gamblers and, in particular, players who enjoy spinning the reels.

Bonuses and Curacao Sports Betting Offers

It’s a well-known fact that Curacao-licensed betting sites provide great bonuses to both new and existing customers. They offer rewarding welcome bonuses, even juicier crypto bonuses for ETH or BTC deposits, referral bonuses, and other promotional offers. A majority of the betting sites offer customers a 100% First Deposit Bonus of up to $100. Moreover, many online bookmakers offer sports betting bonuses based on the accumulation bet.

Overall, there are many types of sports betting bonuses available. And for players, the choices continue to improve. For example, Harry's Sports offers exciting bonuses to casino players and sports bettors. These include Manic Monday, Weekend Madness, a Cashback bonus, and others. Before taking advantage of these offers, gamblers should read the terms and conditions carefully.