The famous Curaçao eGaming gambling licence
First of all, Curaçao is an island located in the southern Caribbean that is part of the Kingdom of the Netherlands. This kingdom is made up of several states, namely: the Netherlands, Aruba, Curaçao and Sint Maarten. The island of Curaçao is well known for its coves and vast coral reefs, all teeming with marine life. However, the island is also known for other things, such as its famous alcoholic drink of the same name.
Today, Become Gambler won’t be talking to you about coves or cocktails, but about the gambling licence: Curaçao eGaming. This is without doubt the most widespread online casino gambling licence in Europe.
Casinos under the Curaçao eGaming licence
Many – if not nearly all – of the casinos available in Europe are regulated under Curaçao law. But why have most of them chosen the gambling licence from the island in the southern Caribbean?
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What are the advantages of holding this gambling licence?
What’s important to know is that the Curaçao eGaming licence covers several sectors of gambling. It therefore covers: online casinos, stock markets, lotteries, games of chance, skill-based games, sporting events and e-sports. It’s a plus compared to certain other gambling licences, which don’t cover every sector. This allows customers to be quickly informed.
This body is also in place to combat fraud, as fraud has become common currency in the world of online gambling. When you plan to sign up to an online casino, this matters.
You can rely on the logo below or check the licence register phrase, which is usually found at the bottom of the casino homepage. These will inform you of the casino’s licence status in real time.
You may then be faced with several statuses:
- Valid
- Unknown status
- Invalid
Depending on the status, you can take certain precautions in advance.
How to obtain a Curaçao eGaming gambling licence?
The Curaçao gambling licence is one of the oldest in the industry, as it was launched back in 1996. That’s already 26 years of loyal service in the online gambling world. But how do you actually get this famous licence?
To be eligible for this licence, there’s nothing particularly complicated compared to other licences. However, certain criteria must be met in order to be approved:
- Have your business registered on the island
- Invest in the island, whether in material form or at least a customer database
- Have a local bank account, especially for online casinos
- Invest in various payment systems and e-wallets
- Comply with KYC regulations (Know Your Customer). This also means showing proof of anti-money laundering measures and protection of minors
- Have no criminal record
- Prove that you have sufficient working capital
- Have an up-to-date register of beneficiaries
As for the cost of this licence, various details can be found online. Although its price may vary slightly, our research indicates you’ll need to pay around £8,700 to obtain this gambling licence for your first few years of activity.
Why do casinos favour the Curaçao licence?
The Curaçao licence allows operators to obtain a licence quickly and in the most cost-effective way possible. Getting it is a real advantage for online gaming platforms, as it requires fewer formalities than others. Take the example of the UKGC (United Kingdom Gambling Commission), which is much stricter and more expensive, and on top of that involves a much longer approval time.
Moreover, it allows for a low tax rate as well as 0% VAT. You can see why this is a major advantage for operators. They can then reinvest the money saved on taxes back into their business. Finally, as we saw earlier, this licence also covers several domains.
FAQ – Curaçao eGaming gambling licence
Why do so many online casinos choose the Curaçao licence?
The Curaçao licence is popular due to its ease of acquisition, low costs and fast processing times. Unlike other bodies such as the UKGC, it requires fewer administrative formalities and allows operators to enter the online gambling market quickly.
What are the tax benefits of the Curaçao eGaming licence?
Licence holders benefit from a reduced tax rate and 0% VAT, which is a significant economic advantage. This enables operators to reinvest those savings directly into the development of their platform.
What types of games are covered by the Curaçao licence?
The Curaçao eGaming licence covers a wide range of sectors: online casinos, sports betting, lotteries, games of chance, skill-based games, e-sports events, and more. This versatility makes it an ideal solution for operators looking to offer several types of games under a single licence.
