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WILLEMSTAD - Curaçao seems to (finally) be working on reforming the online gambling sector. This was stated in a letter by Undersecretary for the Interior and Kingdom Relations, Raymond Knops.

To limit the consequences of the Covid19 pandemic, Curaçao receives financial support from the Netherlands. Since the second tranche in May 2020, this support is no longer without obligation.

Curaçao must meet a number of conditions in exchange for support from the Netherlands. These conditions are laid down by the Netherlands and Curaçao in the “Landspakket” (Country Package).

Two agreements in this “Country Package” are of interest those who are interested in online casinos. These can be found under H.2 and H.19 in the list of reforms and measures.

Several thousand online casinos operate from Curaçao. Most of them do not have the best reputation. Exceptions, such as Omni Slots and Lucky Days, are rare.

Independent regulator

Curaçao must have a plan ready by March 1, 2021 in which the laws and regulations allow an independent regulator to supervise the online gambling sector. Permits must be issued by this supervisor. If licensees do not comply with the rules, the supervisor must withdraw the license.

This is not happening now. There are several “master licensees” on Curaçao. These are private telecom companies. Now there are five: Antillephone N.V., Cyberluck, Curaçao Interactive Licensing, Gaming Services Provider and The Elite Turf Club. Although some of these master licensees try to give the impression with their name and logo that they are an official regulator, that is not the case.

They grant so-called “sub-licenses” to online casinos and online bookmakers. In practice, it is mainly commercial motives that prevail in the granting of these permits and the “supervision”. Among other things, this means that permits are rarely revoked. This has ensured that many thousands of gambling sites are active from Curaçao.

Soon these sub-licensees will also have to pay to the government. Now they do that to the “master licensees”.

Gaming sites must respect local laws

By September 1, 2021, Curaçao must have a plan that provides that casinos operating out of Curaçao comply with the legislation in countries where they operate. And that means quite a bit.

Now Curaçao is especially popular with online casinos that do not abide by the rules in the countries where they operate.

That will no longer be allowed. This means, for example, that casinos with a license from the Gaming Control Board may no longer accept players from the Netherlands if they do not have a license from the Gaming Authority.

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De facto, this means that online casinos with a license in Curaçao can only accept players from Curaçao, supplemented by a few countries that accept the license from Curaçao.

This means that the sales market is declining from billions of world residents to barely the 160 thousand residents of Curaçao. The question then remains how profitable running a gambling site from Curaçao will be.

Income for Curaçao

The third obligation is that Curaçao must work on collecting gambling tax, corporate tax and license fees.

Currently, barely 2 percent of the profit that gambling companies make on Curaçao goes to the treasury. This 2 percent is the tax rate in the so-called e-zone on Curaçao. Many sub-licensees hardly pay any tax because they operate via Cyprus, for example.

Fees for the permits are collected by the master licensees.

The big question is of course how big the size of the gambling sector on Curaçao will be if there is an independent regulator, stricter rules are introduced, gambling sites can lose their license and gambling sites with a Curaçao license must comply with local legislation of the countries where they operate.

Curacao is one of the island that make up the Dutch Caribbean
(formerly known as the Netherlands Antilles). It’s one of the
oldest running online gambling regulators and as such is a
fairly well-known e-gaming regulator.

Any casino that displays the Curacao eGaming license on its
website has been through the initial investigation process and
is regularly audited by Curacao authorities.

Advantages of a Curacao eGaming License

Many gambling operators have chosen to make Curacao their
home due to its favorable tax laws and relatively quick and
inexpensive licensing procedure. Curacao charges a tax of just
2% on net profits and does not put up massive barriers to entry
for potential operators. If you have the cash and a legitimate
casino, you’ll probably be approved.

The fees for a “master” gambling license in Curacao include a
60,000 ANG (or about $34,000) setup fee and then 10,000 ANG
(about $5,600) per month for the first two years. After that,
the operator can negotiate with the government of Curacao for
fees going forward.

Master license holders are allowed to grant sub-licenses to
anyone. A sub-license comes with all the benefits of a master
license other than being able to lease out sub-licenses.
However, the master license holder is responsible for all
activities of all sub-license holders.

There are a number of master license holders that offer
packages to new entrants in the gambling market. They offer
complete solutions including a sub-license, business license,
hosting and other services for a fee that is often cheaper for
new entrants than trying to do it all alone.

Curacao is also attractive for the simplicity of its gambling
laws. Only one license is needed for any type of gambling
operation. It doesn’t matter if you run a casino, a sportsbook,
or a website that does it all; one license is all that’s needed.

The process for getting a license in Curacao is significantly
easier than dealing with the UK Gambling Commission or most
other licensing agencies in which there are multiple types of
licenses, fees that go into the hundreds of thousands of dollars,
and application processes so complicated that lawyers must be
hired.

In addition to licensing and regulation, Curacao eGaming
provides technical and financial support for the online gambling
industry. Some of these services include dedicated services,
private cloud servers, international finance, and help with other
matters related to running an online casino.

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Disadvantages

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The greatest disadvantage of a license from Curacao is that
it doesn’t have much meaning. Just about anyone serious about
starting a gambling site can afford the fees and make it through
the initial investigation. As long as you have the cash and a
fair casino, you’re pretty much in.

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Players are well aware that the licensing standards in places
like Curacao don’t mean much compared to licenses from other,
more discerning jurisdictions. Casinos licensed by Curacao have
suddenly gone rogue, stolen money, and disappeared. Curacao doesn’t intervene in disputes between players and operators. From
the player’s point of view, a license from Curacao is
meaningless.

Of course, there are plenty of safe and respectable gambling
sites licensed in Curacao. It’s a safe, legal place to establish
an online casino. However, casinos located in Curacao must build
their own reputations the old-fashioned way. A license from
Curacao isn’t the quick ticket to trust.

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If you do run into any trouble with their licensing or have
any specific questions that aren’t answered here you can contact
them any time. They make it pretty easy to get in touch with
them through phone or email. Also for more information on what
they are all about you can visit their website as well. All of
their information is below:

• Website:
  http://www.curacao-egaming.com/
• E-Mail:[email protected]
• Phone: +5999 465 1134