Can casinos with a license from Curaçao be trusted?

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  • Written by Stephanie
  • Posted May 17, 2021
HOME » General » Can casinos with a license from Curaçao be trusted?

Every legitimate online casino has a valid casino license issued by a regulator. These bodies are often set up by governments and supervise the legislation surrounding online games of chance. The regulator of Curaçao is one of the largest authorities in the casino world. They have provided hundreds and that number continues to increase every year.

That could give the impression that the Curacao eGaming, as the licensor is called, is doing a very good thing. However, the opposite is true. It is so popular because it has very low standards for issuing a license. Virtually any company that can cough up the costs associated with an application will receive a license. This has meant that Curaçao eGaming is known as less reliable.

However, there is also good news. In recent years, the agency has been improving their reputation by introducing higher standards. Whether that is enough to fix the bad reputation remains to be seen. At a online casino with a license from the Curaçao eGaming you can ask yourself how reliable the casino is. In this article we try to find an answer to that question.

Curaçao
At an online casino with a license from Curaçao eGaming you can ask yourself how reliable the casino is

History of Curaçao eGaming

Curaçao was one of the first countries to develop legislation for the provision of online games of chance. They launched a set of rules in 1996 and the organization that had to supervise was called “Cyberluck”. At the time, the country was still part of the Netherlands Antilles.

There was a competition against countries such as Belize, Costa Rica and Antigua, each of which also developed legislation and issued licenses. Initially, they had nothing to fear from them, as they were the market leader in licensing.

However, Cyberluck also developed a reputation for not overseeing online casinos. Multiple casinos in Curaçao have been closed without players ever being allowed to receive winnings. The provider did nothing in all of these cases. That quickly resulted in a bad name and an exodus of casinos. They eventually changed their name to Curaçao eGaming in the hope that rebranding could improve their reputation.

While things have improved somewhat, Curaçao eGaming is still doing little to help players. For example, they do not interfere in disputes between casinos and gamblers, and thus only offer companies a place to operate legally.

Curaçao is now quite concerned about their reputation. As a result, the Ministry of Finance has taken over the online gaming sector. Time will tell whether this is sufficient.

Features of a Curaçao online gaming license

A license from the Curaçao eGaming is one of the cheapest in the online casino world. A master license costs about $ 35.000. In addition, licensees must pay approximately $ 6.000 in fees each month for the first two years. They also have to pay 2% tax on the annual net profit. That may seem like a lot, but compared to what other providers charge it is a bargain.

As if the low fees and taxes weren't enough, a master license covers both casino games like poker and sports betting. Other providers issue separate licenses for each type of game of chance. Finally, the master license allows it to be used to obtain underlying licenses. So one can start multiple casinos with a single main license.

As if all that wasn't good enough, applying for and obtaining such a license is a piece of cake. As long as a company has sufficient capital and you submit the application according to the correct procedure, the license will always be issued.

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Why does Curaçao attract dodgy casinos?

Over the years there have been enough casinos that you as a player simply want to avoid. They do not pay out profits, employ unfair terms and conditions, or simply stop at some point. Many of these such casinos were licensed by the Curaçao eGaming. There are a number of reasons why this regulator attracted so many unreliable casinos.

1. Low rates

A starting capital of $ 35.000 for a license that also allows you to operate multiple casinos is peanuts. The $ 6.000 that must then be paid monthly isn't a huge amount either, especially in the casino licensing world.

Antigua, for example, requires an application fee of $ 15.000. However, they do charge an additional annual fee of $ 100.000 on top of that. The UK Gambling Commission hardly charges anything for an application. However, casinos do have to hand over 15% of the total income from online gambling to them.

2. Low threshold for application

When a company submits an application to another provider, the entire company is screened. There is a reasonable chance that the license will not be issued after this screening. Unfortunately, that cannot be said of a license application that is made in Curaçao. As long as a company can pay the set up costs, monthly dues and taxes, the license will be issued. So they don't worry too much about potentially unreliable operators.

3. No control and little overview

Curaçao has a hands-off history when it comes to online casinos. When there is a problem between a player and the casino, they don't get involved. Not even when there may be fraud. It must be said that Curaçao eGaming is not alone in this.

There are other providers who also do not get involved in disputes between players and casinos. Curaçao scores very low when it comes to appealing to casinos and offering certain guarantees for players. That is of course very nice for casinos.

4. Ability to serve numerous countries

A master license from the Curacao eGaming authority covers most of the world. The only countries or territories that are excluded at the time of writing include:

  • Aruba
  • Bonaire
  • Curacao
  • France
  • The Netherlands
  • Sint Maarten
  • Singapore
  • United States

The lucrative American casino market is therefore not accessible to casinos with a license from Curaçao. In all other countries, however, casinos are allowed to offer their games.

5. Curaçao is working on higher standards

The Ministry of Justice has been managing Curaçao eGaming for more than twenty years now. In the meantime, the government has indicated that it will drastically tackle the standards of the license. The Treasury Department overseeing the land casinos will take control of the Internet gambling licenses.

As a result of this change, the Gaming Control Board (GCB) of the Ministry of Finance will chair the online gaming affairs. Through this, the government hopes to improve the country's reputation for licensing. The government wants to impose stricter standards on licensees and ensure that all casinos comply with international laws.

With regard to the latter, the government wants to prevent terrorists and money launderers from using their licenses to commit crimes. Curaçao is not the worst jurisdiction in the world, but certainly not the best. Perhaps only Belize, Costa Rica and Panama have an even worse reputation right now. We can only hope that the government will actually succeed in putting its money where its mouth is.

Conclusion

Curaçao's history does not inspire much confidence in the licenses the country provides. They have done a bad job of not checking or correcting applicants. When you play at an online casino with a license from Curaçao, you should not have too high expectations.

It means that a company is or was wealthy enough to obtain the license and nothing more. So you do not have to expect that the Curaçao eGaming will even lift a finger when there are problems between you and the casino. Refusing payments or drawing up unreasonable conditions are examples from practice that certainly do not warm you.

This does not automatically mean that all these casinos are bad. There are very good casinos that have been around for years and have a good reputation. They pay players on time, offer fair games and good customer service. Curaçao has a lot to do with their reputation. In contrast, lodging the licensing with the land-based casino authority may be just what is needed.