Gaining a Curacao gaming license can be instrumental to the success of an iGaming venture, particularly if this is an initial step into the iGaming market. The benefits of a simpler and more affordable application process and the ability to operate in various countries means that there is more room for a start-up business to grow than beyond their own front door. This makes for a very attractive licensing option for online casino operators.
However, the work doesn’t stop there. The Curacao Gaming Control Board has a reputation for being one of the biggest gaming authorities in the world, and in order to maintain its solid reputation, online casinos licenced by the Curacao Gaming Control Board have to remain compliant to its regulations. Read on to find out what these regulations are and how to stay compliant.
What Are The Benefits of a Curacao Gaming License?
There are a lot of benefits to looking into a Curacao gaming license as opposed to, or on top of, looking at a national gaming license in your business’ country of operation.
For one thing, the standard for entry to gain a Curacao gaming license is lower than a lot of other countries. It has been designed with ease in mind, with a simpler application process and lower application fees.
To gain a Curacao gaming license on top of your own country’s license will allow you to expand the countries that you can operate in, offering the potential of reaching a lot more customers from many different countries accessing an offshore account.
These benefits alone are enough to convince a lot of iGaming start ups that might be looking for a way to get into the market.
What is Required to Gain a Curacao Gaming License?
Despite the reputation of the Curacao Gaming Control Board to offer easier application processes, online casino owners looking to gain a Curacao gaming license will have to provide various elements to be considered for a gaming license, such as:
- A registered company in Curacao
- A local representative for the company
- Rules for using the website
- Domain ownership
What Compliance is Required for a Curacao Gaming License?
There are also a few compliance regulations that should be followed for your company to stay licensed by the Curacao Gaming Control Board. These are very similar to other regulations around the world, such as a refusal to register any person under the age of 18, but there is the additional caveat of refusing to register any residents of the Netherlands Antilles or the United States.
Any Curacao gaming endeavour should also stick to the regulations of responsible gambling. The main principles of responsible gambling on the side of the operator come down to informing players of the nature and risks of gambling, as well as the sufficient information about the games, and encouraging players to set reasonable limits.
Curacao might be the most attractive option to start ups when looking at the entry requirements to the market, but there are regulations that every iGaming venture has to take into account in order to stay safely in the market.