The Curacao E-Gaming Commission is a gambling regulator that governs online gambling for casinos based in the Caribbean. This iGaming regulator has become popular among the operators due to the attractive benefits they offer such as low licensing fees. However, players must approach Curacao licensed casinos cautiously to avoid potential problems and risks.
Nowadays licensing has become a keyword in the online gambling industry. If they want to improve their status and enjoy a good name every reputable internet casino tries to officially attach or connect to some sort of regulatory organization or authority. Good practices show that with all the control and audit these regulators perform they provide both the casino operators as well as the players with a safe and secure gambling atmosphere. On the other hand, playing at unregulated and unlicensed casinos carries huge risks and bad experiences.
Gambling Regulation and Licensing
Curacao is a picturesque Caribbean island with tropical scenery. Previously known as the “Netherlands Antilles” it can be found on the map next to the coast of Venezuela. It was in 2010 when the Netherlands Antilles dissolved. Now Curacao is still a Dutch territory and despite being far from the European continent, it is part of the EU.
A number of different laws are in force in Curacao to regulate the gambling market. In fact, all forms of gambling are legal here. The Curacao Gaming Control Board (CGCB) governs the local land-based casino activities, and CIGA is authorized with online licensing. The Curacao Minister of Justice leads both organizations. The Curacao Chamber of Commerce and Industry (CCC) can also certify local online operators.
Curacao Gambling jurisdiction was established in 1996. It is governed by the Curacao Internet Gaming Association (CIGA). It was in 1998 when the commission began issuing licenses to online casinos. Throughout the years this body has been working as a popular choice for online providers. But in fact, this jurisdiction is among the few with a dubious reputation in the internet gaming community. The process of licensing CIGA performs is based mainly on quantity instead of quality. Tolerant procedures are executed with a significant lack of quality control.
There are two types of iGaming licenses to qualify the operators – the master license and sub-license. They both, actually grant the same rights and cover activities related to gambling (casinos, clubs, bookmakers, poker rooms, betting houses, lottery and other games of skill and chance). The only difference is that an operator with a master license is authorized to issue sub-licenses to third parties.
On top of everything, the license is not more than a simple permission for business operations. There are requirements for the operators' hardware and equipment – they must be installed on the territory of the Curacao island. The operator can only use an offshore bank account located in another country. The total process for receiving the online gambling CIGA license takes between 2 and 6 weeks and usually cost approximately $34,000.
Advantages for Operators
Curacao has long been recognized as one of the well known and preferred locations for eGaming businesses to base their operations. The Curacao E-Gaming license is very popular for online gambling operators. The perks this license comes with are as follows:
- Business status: Unlicensed casinos have much less chances to win on the business scene because of the possible risks. Many more opportunities, like markets and players open up for licensed casinos.
- A simple process of licensing: The entire process of obtaining the Curacao E-Gaming license is very simplified and runs without many difficulties for the casino owners looking to start their business here.
- Low tax rate: The low fees and taxes on the island come as a big attraction for casino owners to set up their shop there. To maximize on the benefits of their gaming businesses, gambling companies have the opportunity to register as an Ezone Company. The incredibly low tax rate of 2% can be enjoyed by the operators titled with the Curacao E-Gaming license.
- White Label Licensing: With minimum difficulty and little bit higher cost an operator can apply for a permit to become a white label distributor.
Advantages for Players
Players at regulated and licensed casinos in Curacao can have the benefits as following:
- Peace of mind: It is extremely important to play in licensed casinos in order to avoid fraud and problems of any financial nature.
- Fair chance: Players at casinos holders of Curacao E-Gaming license can have the chance to enjoy better quality casino gambling experience.
- Variety of games: Curacao licensed casinos provide their customers with much bigger selection of variable games developed by leaders in the industry, such as Playtech, Microgaming, RTG and many more.
- Responsibility: Licensed operators are forced to use variable limitations to prevent the under-aged from playing and gambling on their sites.
Although not famous for its bare strictness and high-quality control, as in the UK Gambling Commission and Malta Gaming Authority, the Curacao E-Gaming Commission still performs some of the best casino activities. Many casinos in the area find the Curacao E-Gaming licenses the perfect tool and aid for their growth in the business.
Due to the situation of insufficient control and poor quality of gambling operations in the region, our recommendation to the players is to be careful in their choice of online casinos in Curacao jurisdiction.