Implementation of new regulation in Curacao, how is it going?
Curaçao is a small island state located in the southern Caribbean Sea off the coast of Venezuela. While maintaining its autonomy, Curaçao is an integral part of the Kingdom of the Netherlands.
The island is traditionally among the top countries for gambling. Curaçao offers various opportunities for organizing and running gambling, including licensing online casinos, bookmakers, poker rooms, and other gaming platforms.
Since September 2023, a new regulatory system for gambling operators has been in place on the island.
WHAT CHANGES HAVE BEEN INTRODUCED TO GAMBLING LICENSING IN CURACAO?
- A new autonomous regulator – the Curaçao Gaming Authority (CGA).
- Two types of gambling licenses have been introduced: B2C (Business-to-Consumer) license, which gives the right to interact with the operator, and B2B (Business-to-Business) license to work with manufacturers of software, platforms, and payment systems.
- Transferring your rights under a gaming license to third parties for a sublicense is prohibited.
- They presented an updated protocol to verify the licensee's co-founders, key employees, and persons associated with the licensee.
- Digital image stamp for licensed online casinos.
- Hiring at least three key local staff with appropriate qualifications and experience.
- New regulations for payment of fees, including the possibility of crypto payment.
The Curaçao authorities expect the new gambling regulations to guarantee licensed operators' reliability and professionalism for the safe and responsible provision of gambling services. It is too early to conclude the results of the new rules of the game in the gambling industry. However, transparency and legality in this area will undoubtedly strengthen confidence in the gambling industry in Curaçao and attract serious and reliable players.
HOW TO GET A CARAÇAO GAMBLING LICENSE
To obtain a Curaçao gambling license in 2024, contact IT-OFFSHORE.
