The Curacao gaming license is the most popular among online casinos. Currently it is being held by around 450 online casino operators. As each operator may control more than one casino brand, you can find more than a thousand Curacao online casinos on every casino-related site including our Gamblescope.
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Licensing mechanism in Curacao
In Curacao there are two types of casino licenses: sub-license and master license. Both allow their holders to arrange gambling activities online.
But there are some differences. The master license could be obtained via the Minister of Finance (since 2018 — from the Curacao Gaming Control Board) and required a one-time setup fee of 34000$ and 5600$ monthly fee. But currently no such licenses are being issued.
The only perk it gives is the ability to issue sub-licenses, so no wonder there are currently only 4 Curacao companies holding master licenses, that have turned sub-licensing into a profitable business:
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Cyberluck Curacao N.V. (Curacao-eGaming) #1668/JAZ (works since 1996)
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Gaming Curacao (GC) #365/JAZ
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Curacao Interactive Licensing N.V. (CIL) #5536/JAZ
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Antillephone NV #8048/JAZ (crypto-friendly)
This means that casino licensing in Curacao is effectively in private hands, since everyone wanting to start an online casino will turn to one of these companies for cheaper and quickly obtainable sub-licenses. Such sub-license remain valid for as long as the master license of the issuer is.
The Cost of the Curacao Gaming License
Obtaining a Curacao gaming license can cost between $20,000 to $35,000, covering fees for the license itself, company registration, and setting up a bank account. Prices can vary based on negotiations and the provider chosen. It's advisable for those without prior experience to opt for a turnkey solution to ensure a smoother process and quicker entry into the market.
Curacao Gaming License Advantages
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It is the cheapest license on the market if we sum up all of the costs. While there are similarly priced licenses like Montenegro or the Isle of Man, you will pay much more just in order to comply with the requirements and become a valid applicant.
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2% net gain tax. This says everything. No other taxes, if you’re working strictly online. Sounds more than fair to share just 2% of your profits with this nice country?
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The island provides all EU benefits while being outside of the EU. This means your casino will be considered legit in the EU gambling market.
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Few countries are restricted. The license offers global reach, as the Curacao-licensed casino can’t accept players only from the US, France, the Netherlands, the UK and Curacao itself by default, as well as people from the countries where gambling is explicitly banned by law. The rest is to be decided by the casino owner.
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Crypto-friendly. Since the license allows inviting players from almost all over the world, it is natural for crypto-casinos to thrive in Curacao.
Curacao-licensed Casino Disadvantages?
With advantages being obvious and further amplified by companies offering help in obtaining the Curacao gambling license, it is easy to miss the disadvantages as most of them are related to the player, not the owner.
1. Inadequate Player Coverage
The Curacao Gaming Control Board often delegates dispute resolution to master license holders rather than intervening directly. This approach can sometimes limit the Board's involvement in player-casino disputes, as the primary focus for master license holders is on selling and maintaining sub-licenses.
2. Potential Player Loss
This derives from the previous point. Many conscious players simply shun brands operating under the Curacao gaming license, since they want to diminish the chance of something bad happening to their deposits. So they choose more reputable jurisdictions that allow them to defend their interests if needed.
3. Difficulties With Opening a Bank Account for the Casino
Not many banks are willing to accept payments for the casinos because they consider this as a possible threat to their business and reputation. And even less banks are willing to cooperate with Curacao casinos, because the aforementioned threats multiply.
4. Casino Servers Must be Located in Curacao
Curacao-licensed online casinos are required to host their servers within Curacao. However, evolving data processing laws in various countries can create conflicts between Curacao regulations and local data processing laws, potentially leading to legal risks and possible lawsuits.
5. Restriction From Countries With a Huge Gambling Potential
The Curacao license restricts the casino from marketing its services in the US, the Netherlands and France. That’s nearly 400 000 000 people with one of the highest personal income in the world.
6. Marketing Restrictions
There can be situations when a Curacao casino can accept players from a certain country but can’t legally advertise there. So there isn’t much chance people will learn about the brand and come playing on their own. Australia is an example of such a country.
The Concluding Thoughts
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The Curacao Gaming License will continue to remain the most popular among the rookie casino owners and those aiming to operate huge networks of online casinos and bookmakers thanks to being so easy to obtain.
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But the most conscious casino operators eventually switch to more reputable licenses like UKGC, MGA, Gibraltar, Swedish, Danish, Greek and others as means to prove their trustworthiness, increase their profits and gain access to markets inaccessible for the Curacao license holders.
Here we have gathered online casinos that either made this crucial step and swapped their Curacao gaming license for a more reputable one. Or started working in a reputable jurisdiction and never even had a Curacao license in the first place.