Curacao is one of the most preferred locations for online operators because of its flexible licensing policies and strong legal system. In this guide, we will discuss the legal framework of Curacao licensed betting sites, their advantages and their role in the industry. You can also find tips on choosing the best Curacao sportsbook.
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Overview of Curacao Betting Sites
In short, these are online sportsbooks that accept both domestic and foreign bettors. Regulators aim to help Curaçao betting sites work within a legal framework that protects both them and players but also provide non Gamstop betting opportunities and offer their services internationally. What’s more many players don’t have access to a locally regulated sportsbook, so a brand with a Curacao betting license will always be a better option for them.
The process of acquiring the Curacao gambling license has several requirements:
- Establish a limited liability company (B. V. or N. V.) in the Chamber of Commerce of Curacao with a registered address.
- Authorized local representative or agent.
- Detailed description or overview of available games
- Terms of service or user policy for the gambling website
- At least one of the company’s physical servers needs to be in Curacao
- Internal AML and KYC policies/procedures that apply to each player
- Proof of technical audit of games and software that will be used on the website
- Provably fair games – A certificate that guarantees the accuracy of RNG software
It is critical to meet Customer Due Diligence (CDD) and Know Your Customer (KYC) standards. The compiled documentation and application are then submitted to the Curacao Gaming Control Board (GCG) or the Curacao Gaming Authority (CGA).
After you obtain a license, you can receive significant tax benefits, for example, a 0% corporate income tax and only 2% tax on net profit for businesses operating in the e-zone of Curacao.
How Were the Curacao Bookies Created
The first legislation for online gambling took place in 1993 , followed by the establishment of the Gaming License Authority in 1996, to supervise and monitor the industry. In the early 2000s, Malta set an example for how to regulate digital sportsbooks. This has attracted many tech companies to this jurisdiction, which led to a meaningful boost to their economy.
Curacao was clearly inspired by this approach and saw an opportunity to attract new businesses. By being more lenient on certain fronts and offering more favorable tax terms, it’s easy to get new tech companies on board.
- Licensing Requirements for the Curacao Betting Sites
- In order to get a betting license, it is necessary to fulfill a few conditions.
- Full descriptions of the games offered and the rules of the website must be given, in addition to proof of ownership of the domain and at least one server located in the jurisdiction.
- It is also essential to provide AML procedures for each player and perform a technical overview of the gaming system such as software certification and a random number generator certificate.
Advantages and Drawbacks of Curacao Sports Betting Sites?
Operators have become popular because of the numerous advantages they offer. In the following section, we will discuss the advantages and disadvantages of Curacao sports betting sites.
Benefits
Benefits
- No Tough Verification: This allows players to start betting immediately without submitting KYC documents. They can do this once they decide to make a withdrawal.
- Crypto Payment Option: Most websites accept multiple cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. The rising popularity of stablecoins also adds more choices for those who are seeking more cryptocurrency options.
- Credit Card Payment Option: Curacao betting sites allow users to make payments using their credit cards, which is one of the safest traditional payment options.
- No Restrictions for UK Players: Curacao betting sites for UK players are not on GamStop’s register. So even those who are excluded from UKGC sites are allowed to bet here.
Drawbacks
Drawbacks
- No strict betting regulation as in UGKC. A main concern of Curacao licensed betting sites is the lower level of player protection. These rules are in place to protect risk gamblers. As a result, spending limits and self-exclusion tools aren’t always available and can only be activated through customer support.
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What are Master Licensees Their Role & Responsibilities
Regulating sports betting in Curacao is done through Master Licensors. They have exclusive power to issue and manage sub-licenses for the numerous gambling operators. As of 2023, there are four master license holders:
- Curacao e-Gaming
- Antillephone NV
- Gaming Curacao
- Curacao Interactive Licensing N.V. (CIL)
These master licensees adhere to the regulations set by the GCB and Curacao Gaming Authority (CGA). They supervise their sub-licensees, making sure that they follow AML and CTF regulations, safeguard players’ money and personal information, and provide fair games.
As of the 2023 change in regulations, the master license holders cannot grant new sub-licenses but can renew the existing ones, pointing more to the fact that they are responsible for the maintenance of existing operational standards and compliance.
Things to Know When Choosing a Curacao-Licensed Betting Website?
Here are some of the most crucial factors that should be taken into account when selecting both old and new Curacao betting sites:
- Active License
An active license signifies that the website is legally permitted to comply with current standards set by the GCB or CGA.
It’s easy to verify whether the site is currently holding an active license from Curacao. All you need to do is visit the official website of the Curacao Gaming Control Board or Curacao eGaming Licensing Authority. They have a register of operators that are permitted to offer their services.
What’s more, legal Curacao betting sites for UK players should be transparent about their licenses. They have a clickable at the footer of the website that leads to the page with the license.
- Bonuses Availability
Promotions are another major aspect that you should consider since they add to your betting experience by giving you free cash or a number of free bets.
To verify the availability and the fairness of bonuses, click on the Promotions tab of the betting site. There, read the conditions of the promotion. Make sure that the bonus conditions are easy to comprehend and clearly spelled out.
- Complaints
Players’ concerns may reveal certain problems like long payment processing times, unfair/cheating strategies, or unfriendly customer service. Curacao betting license might not be as strict as the UKGC, but they still take complaints very seriously.
If you wish to file a complaint you must first ascertain who is the monitoring body for that site. Then you need to go directly to the regulator’s website and find out what’s the protocol for submitting a complaint. Usually, you need to state your full name, provide ID verification, the name of the operator, and a detailed description of what happened. If that site has an active license and they are accountable for it they will launch an investigation.
Alternatives to Curacao license
FAQ
How to get a Curacao gambling license?’
To obtain a license, you must follow several steps. In the section above, we’ve explained the process in detail.
Is betting legal in Curacao?
Yes. Curacao sports betting and gambling are legal. The country has a well-established legal framework for online gambling, overseen by GCB and CGA.
How much is a game license in Curacao?
There are many costs associated with acquiring a license. Incorporation of a Holding company up to 9,000 EUR, the Gaming Commission Board fee for an annual license is almost 62,000 EUR, and it’s the same price for annual renewal. There are also all sorts of costs pertaining to the application process, but they aren’t as hefty as the licensing fee.
Can I withdraw my winnings from Curacao betting sites?
Yes. You can easily withdraw your winnings from Curacao sports betting sites.
Do Curacao betting websites conduct age verification checks?
Yes. All players must verify that they are above 18 years old to bet on bookmakers Curacao.
How can a player make a complaint to Curacao?
Go to the regulator’s website, and double-check if the operator still has an active license with them. Find the instructions on how to file a complaint and prepare all the documents beforehand. Do as instructed and wait for them to get in touch with you.