Most Curacao Online Casinos players probably do not know exactly where the small island of Curacao is located, but many of them have certainly already played in an online casino that uses the gambling license of this Caribbean island state. Because Curacao is indeed a pioneer in the regulation of online casinos. We would like to give you more information about this regulatory authority and tell you why the Curacao gaming license is also extremely interesting for Indian casinos in comparison.
Curacao eGaming is also one of the oldest licensors in the gaming business and has been on the market since 1996.Interesting fact
Best Curacao Online Casinos
The details of the license issued by the Government of Curacao
There are two categories of licensees among the members of the CIGA. First there are the providers, i.e. the companies that carry out an iGaming activity directly on the territory of Curaçao. Then the companies that are not providers themselves such as banks, insurance companies, software manufacturers, real estate agents. There is a strong feeling of togetherness among the members of the CIGA. All undertake to proactively follow the applicable principles and norms. You need to know that the criteria for obtaining a license are very strict. The CIGA is a member of the Interactive Gaming Council (IGC). In addition, only one type of license is ever issued by the CIGA, regardless of whether you are a provider or a non-provider. Here are the characteristics for obtaining this license:
- The future licensee undertakes to respect the laws and principles of the CIGA.
- He ensures that he does not allow minors to play his games and that he does not offer illegal games.
- A deposit of 60,000 Dutch Antillean florins (florins) is required.
- A monthly payment of 10,000 florins must be made for the next two years.
Curacao Casino License Requirements
In order to be eligible, applicants will need to fulfil specific Curacao Gaming License requirements. We have come up with a list of criteria that Curacao casino license applicants will need to have in check in order to become approved.
- Integration with a local company – Only companies from the Caribean island can apply for a sublicense.
- Ownership of physical hardware – Applicants must show proof of having invested in hardware on the island. The minimum requirement is hosting a client database on the server.
- Local bank account – This is also a requirement for Crypto casinos. Payments must take place utilising the local currency.
- Investment in E-wallets and other Payment Solutions
- A detailed business plan – operators must also show how they intend to promote KYC compliance. They must also show their responsible gaming efforts to promote anti-money laundering and reduce under-age betting.
- A clear criminal record – Owners must show proof of having no criminal charges
- Proof of sufficient capital – Operators must show that they are able to finance their business plan. They will need to show all of their past accounts.
- Ultimate beneficial owner identification
These are the main requirements that all Curacao casinos will need to fulfil. Certain Master Licensees may ask for further documentation, especially when it comes to casinos in Curacao that accept bitcoin transactions.
Fulfilling the criteria above is actually the most time-consuming part of the Curacao casino license process. For instance, forming a local company can take up to 5 weeks. Once you have all the documentation in hand, becoming approved should be plain sailing and only take a few weeks. Visit Curacao eGaming Official website for more info.
Advantages & Disadvantages of Curacao Casinos
New customers looking to sign up to a Curacao casino site may have some concerns. This said, there are some good sides to the license. We’d suggest checking back to our section on safety for more information.
Not all Curacao casinos are looking to abuse the ‘hands-off’ approach. This is why we listed some of the top sites earlier on. Not only do they offer a great welcome bonus but they have been deemed trustworthy. Of course, this is all listed out clearly in our Online casino reviews.
In the meantime, we’ll leave you with a list of pros and cons, to sum up everything we have looked into.
|Easy to get a license||Bad reputation internationally|
|Not many legal restrictions||Money plays a big factor in things|
|Accepts players worldwide||Harder for operators to open an online gambling bank account|
Curacao Casinos Reputation
The Curacao E-gaming Licensing Authority market themselves as a stringent regulating authority, with a motivation for player protection. They pride themselves in ethical customer resolution practices.
The Curacao E-gaming Licensing Authority promote that they are dedicated to maintaining fair practice and governance over online providers throughout their jurisdiction. They also promote many of the similar processes used by other regulators around the word, and require casinos to follow a few rules:
- Licensed casinos must keep a full audit trail (paper) of each player that makes a deposit, including all of their personal details.
- They are not allowed to accept wagers from the Netherlands Antilles.
- Casinos must give independent third-party auditors full access to all gaming systems, including games software, back-end systems and logs.
- Casinos must avoid all forms of unethical marketing and advertising.
The above criteria may seem quite stringent at first glance, but this minimum requirement merely meets the mark of good and responsible online casino management.
There are many Curacao licensed online casinos, and some of them are among the industry leaders. Thanks to this license being very respected in the gambling world, many online casinos want to be licensed by Curacao eGaming, even when they aren’t their only regulator. Adding a Curacao gaming license lands further credibility to an online casino, so you’re bound to often come across it during your online gambling adventures.