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.
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.