One of the first things a player notices while playing their favourite games is the authenticity of the casino or the license and guidelines by which it is regulated. Curacao eGaming is one of the most popular and trusted licensing authorities among online and land-based casinos. It facilitates the licensing of gambling firms within the arena of its own jurisdiction.
The Curacao e-gaming license traces its stem resources from the facilities of the Dutch Antilles, which holds the prowess to be declared as an autonomous Dutch Territory. This implies that the casinos(both online and land-based) would secure the facilities of the EU, without any worries of additional high taxes of Europe.
The Curacao gambling license covers almost all the games of chance, and games of skill (e.g. poker). Besides that, highly popular sports betting is also considered, along with other legal forms of betting that are held both online and offline.
How Does Curacao Licence Work?
The Curacao gaming licensing authority has been highly trusted since 1996. In the year 2018, the government under Curacao, which controls the functionality of the Curacao Gaming Control Board (GCB) was allocated. The regulation of online and land-based casinos falls under the guidelines of the Curacao Gaming Control Board. The GCB also acts as the AML/CFT supervisor for both the land-based and online casinos to check for finance terrorism and misuse of finances.
In general, two different kinds of licenses are issued: the master license, and the sub-license. The Master license is a bit difficult to secure since the Minister of Justice holds the discretionary power to issue these licenses. But both the master license and the sub-licenses hold the power to carry out gambling activities legally.
What Does Curacao Licence Require from Online Casinos?
The online gambling sites wishing to avail their services in Curacao should apply for an “online gambling license”. The Curacao Internet Gaming Association or the CIGA is predominantly responsible for the e-gaming license to the operators, service providers, and software professionals. The CIGA is based on a certain set of rules of the Interactive Gaming Council.
Before becoming a Curacao casino site accepting UK players, a gambling operator is required to reveal its entire banking history as well as criminal history. This is done to reveal the transparency and authenticity of the operator, software professional, etc. to prevent misuse of the license. The software professional has to give complete details of their capital funds and reveal their business plans and the strategic management of funds. Moreover, they should also present a plan to overcome gambling addiction, underage gambling, money laundering, illegal gambling, etc.
There are some other basic things a software professional requires to keep in their mind while getting their license. They need to register and can only apply after the payment of the license application fee. After the application procedure is completed, they need to pay the complete pricing of the license. The licenses are required to be renewed every year with the payment of a basic fee, otherwise, the licenses would be deemed void. After the operator or software professional has fulfilled all the requirements necessary for the application procedure, the documents of the applying company will be handed to the Curacao Department of Justice. An investigation committee is set up, and the investigation can take up to a maximum of six weeks. The applying company will either receive a provisional license or a rejection of the application depending on the outcome of the investigation. If the provisional license is secured, a stipulated amount is required to be paid.
Land-based Casinos with Curacao Licence
Curacao is also a very favourite tourist destination for Americans. There are good land-based casinos in Curacao, which is a boost to both the gambling sector and the gambling sector. Willemstad, the capital of Curacao holds the greatest opportunities on the island. l with approximately 15 gambling establishments located there. The Carnaval Casino is the largest casino in Curacao and offers a wholesome number of 300 gaming machines with varied games such as poker, blackjack, roulette, etc. Though the casinos are predominantly aimed towards tourists, the locals can however enjoy the games.
The Curacao Gaming Control Board (GCB) guidelines are the prerequisites to a legal land-based casino. There is gambling legislation that needs to be followed such as the ‘GCB-Guideline Responsible Gaming 2012**, the GCB-license regulation on Sports Betting 2013***, the Regulations for Live Bingo Operations 2016****, and the Regulations for Card Games 2016*****’. Another quite interesting land-based licensing follows is the proximity or attachment to a hotel complex to promote international tourism.
Conclusion
Gambling is indeed a very promising and lucrative business, aiming for high revenue each year. The 2021 reports easily reveal that approximately USD 57.4 billion came from the gambling sectors. But prior to the settlement of any gambling firm, licensing is of utter importance, and Curacao licensing is known as the most popular one. All the applying party needs to fulfil is a few basic requirements such as disclosing banking and criminal history, investing in responsible gambling, and so on. If verified by the Curacao Gaming Control Board (GCB), they can simply pay off the pricing amount and keep renewing it each year, as long as they run their business.
