Licensing is an important factor for online casino players. This document confirms that the casino is licensed and regulated by a reliable licensing authority. It proves that the games are fair, and the regulator will intervene if the casino starts mismanaging players' money and information.
Why the Curacao gaming license is so popular
That being said, the Curacao gaming license is one of the most sought after by operators. It's more affordable than other licenses like the MGA and UKGC, and it allows casinos to offer several services, including bingo and sports betting. So, this quick guide explains how to get a Curaçao license and why this accreditation is in high demand.
Curaçao's gaming license gets requirements
Believe it or not, Curacao was the first country to legalize today's online gambling in 1996. Since then, the country's legal online gambling space has expanded thanks to a calm and sober political environment. Curacao's gambling industry is regulated by the country's Ministry of Finance, which requires a company to be licensed on the island in order to obtain a license.
Interestingly, the government issues two types of licenses; a master license and a sub-license. The Department of Justice issues a master license through its executive branch, and the permit is valid for 5 years with the possibility of renewal. However, the holder of a master license may issue an unlimited number of sublicenses, valid as long as the master license is active.
There are currently only four main licensees, including Curacao e-Gaming, Gaming Curacao, Curacao Interactive Licensing NV and Antillephone NV. New online casino and betting operators can apply for a gaming license from one of these major licensees.
Before an operator is granted a sublicense, the main licensee will form a compliance committee to investigate and approve the operator. The committee will make its judgment on the operator's domain, service, fairness and other technical aspects. However, the criteria for application and license review may vary from master licensee to master licensee.
Advantages of obtaining a gaming license in Curacao
No less than 450 gaming operators around the world have a gaming license Curacao one of which is https://svenskacasinorecensioner.com/. This proves that most operators and players trust this gaming license. So what makes it different from other online gaming licenses?
Seamless application process.
Most operators agree that applying for and obtaining a license in most countries can be lengthy and tedious. Most regulators require operators to go through lengthy and costly procedures in order to qualify for a license. Worse, most states only license a few operators in the United States, with priority given to domestic bookmakers and casinos.
But things are different in Curaçao. Although there are certain requirements to meet it, there is less bureaucracy, which means less waiting time and frustration. Remember that operators do not have to deal directly with the government of Curacao. Today, the Curacao gaming license is still one of the fastest to obtain if the operator meets the licensing requirements.
Cost-effective gaming license.
Think about it; gambling companies with a gross turnover of at least £30 million a year must pay a registration fee of £14,647 to obtain a UKGC license. As if that wasn't enough, the license can be renewed annually for £49,219. These fees are obviously high, but the biggest online casinos and bookmakers can afford it.
When converted to Curacao, the master license fee is $34,000, much less than the annual UKGC fee. This means that operators will get a sub-license at a much lower price, depending on their agreement. In addition, the Curaçao license can be renewed every five years, although the master license holder must pay the taxman 2% of net profits. Online betting sites do not have to pay Curaçao income tax.
One gaming license for all
Some jurisdictions, such as most U.S. states, have different licenses depending on the type of betting service you want. For example, you may need a separate license to offer online casino games, sports games, bingo and bingo games. This can be time consuming and expensive.
In Curacao a gaming license covers all gaming activities on the operator's website. One license can cover sports betting, horse racing, online casino games, bingo, bingo, online poker rooms, scratch cards and more. For this reason, a Curaçao license is ideal for startups that want to build their brand before entering other markets. CASINO DI VENEZIA is the oldest casino in the world. Read about it here.
There is still a lot to do.
The Curacao gambling license itself does not have many disadvantages. The owners of the master license make sure that operators comply with the fair play agreement. Even so, most modern gamers are enlightened enough to realize that this license means little. The thing is that the government of Curacao does not interfere in disputes between operators and players.
Therefore, the Curaçao license is more suitable for startups. Large online gaming brands will want to get a license in countries like Malta, Sweden, the UK, the Netherlands, Canada and some US states. But technically, Curacao is a safe and legal jurisdiction to open an online gambling business.