Curacao Online Gambling Authority To Open a Dedciated Gaming Control Board’ (image source: https://images.unsplash.com/photo-1578936186458-b6b7bcf9733c?ixlib=rb-1.2.1&auto=format&fit=crop&w=1372&q=80)
The Curaçao online casino licensing vouches for some of the top online casino brands in the world but also has a reputation for being one of the least transparent regulatory authorities out there.
This is set to change as with new financial aid from the Netherlands, comes a dramatic overhaul of the Curaçao online casino licensing and its reputation!
Currently, any casino under the Curaçao remote gambling licence can accept players from Australia, Canada, New Zealand, South Africa, and the Netherlands as well as a flurry of non-English speaking nations around the world.
Online casinos operating under the Curaçao license typically provide members with access to high quality live dealer casino games as well as online slots, bingo, poker, and virtual table games using currencies such as AUD, NZD, CAD, USD, and numerous cryptocurrencies.
It seems the acceptance of Dutch players caught the eye of the Dutch government!
With online casino licensing services, Curaçao has another tax base to help with fiscal budgets but with COVID-19 hitting the island’s economy hard, mostly through the lack of tourism due to travel restrictions, the island’s big wigs requested the Dutch government to release the third tranche of €125 million as a stimulus package.
However, this time as part of the new financial bailout from the Netherlands, one of the conditions the island’s chiefs must accept is that the Curaçao online casino licensing authority vows to improve its services. Exactly what ‘clean up’ will mean is not clear but we do know that island has until September 2021 to create a ‘Gaming Control Board’.
Licensing authority told to establish a gaming control board
Although the current Curaçao online casino licensing seemingly does a good job and has some excellent casino brands licensed under its 4 licensing plans, the Dutch government feels there are some key areas the Curaçao government can focus on to enhance its reputation. To control these key areas, the licensing authority must create a ‘Gaming Control Board’ before the end of next year.
The ‘Gaming Control Board’ Will Oversee:
- Enforce anti-money laundering measures
- Ensure online casinos comply with laws and regulation
The new gaming board will add to what is already a well set up casino authority that just needs to evolve as the MGA (Malta Gaming Authority) did. The MGA licenses casinos that want to offer membership to citizens in countries that do not have domestic online casino licensing laws. Curaçao’s licensing is exactly the same but is not quite up to par with the MGA in some areas.
Under the Curaçao licensing formed in 1996 there are currently 4 licenses:
- Cyberluck Curaçao
- Antillephone
- Gaming Curaçao
- Curaçao Interactive Licensing
Why companies chose Curaçao licensing:
- Licenses are cheaper than MGA
- Less processes involved
- Low taxes in Curaçao
- Operators can target most countries
Curaçao’s new licensing likely to affect Dutch players initially
The 4 ‘Master Licenses’ issued by Curaçao are available for private companies to apply. Once approved, the newly licensed firm can offer casino operators an option to join the company and operate under its Curaçao license. The online casino operator can create a branded online casino establishment providing members with real money casino games such as live dealer tables via an independent online casino platform.
Many of the companies holding the license are large software firms/aggregators that offer a one-stop white-label online casino platform. Operators brand the casino platform so they can run a legitimate and trustworthy casino business, yet, the Dutch government sees holes in the way these licenses operate which can lead to some of these sites flouting Dutch laws by targeting players within the Netherlands.
New regulations put in place will likely focus on protecting Dutch players initially. However, once the Curaçao licensing authority has measures in place, new operations should also filter down to members that join from other countries.
Overall, this could be the start of a new beginning for the Curaçao licensing authority. Although most of the companies it licenses are trustworthy businesses looking to build a trustworthy brand, there are some that will take advantage of loopholes and lax rules. However, rouge companies not using the Curaçao licensing with integrity may be shown the door as these loopholes close with the birth of the new gaming Curaçao control board.
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