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How Will the Changes to the Curacao License affect Online Gambling?
![How Will the Changes to the Curacao License affect Online Gambling?](https://europeangaming.eu/portal/wp-content/uploads/2020/11/curacao-gaming.jpg)
Due to the impact of diminished economic activity and the lockdowns, the tiny Dutch island in the Caribbean has found itself in financial troubles. Under the deal made with The Netherlands that will save its stability, it is forced to introduce changes to the Curacao license that will affect online gambling worldwide.
There are three major demands from the overseas sister country that will make the Curacao license be more alike to what is expected from countries in the EU:
1. Increased pricing for master licenses
2. Prevention of player targeting
3. Increased oversight and inspection
This will make the license somewhat harder to obtain, especially for new operators in developing nations that have been popping out recently. But, this will also make the license itself more valuable.
Part of the Economic Assistance Package
For many, the island of Curacao is considered to be a tax haven and benefiting from the fact that it is inside the Kingdom of The Netherlands, which is in the EU, but not itself being under EU restrictions and laws.
Not to mention that it is also a very picturesque Caribbean island that has the same standard as the mainland but much fewer gloomy days than Amsterdam or The Hague.
But, it is also reliant on the financial sector, tourism, and in good part oil refinement from Venezuela, all of which have halted to a degree in 2020. This forced the island to ask for assistance from the mainland.
This assistance is fairly lax and isnât infringing on the territoryâs autonomy. But, it does force some laws to coincide with EU standards that are in force in the Netherlands.
These rules include restrictions in banking, gambling, and service provision that can be seen as predatory. And while they will restrict business a bit, they aim to place more trust in Curacao-based companies.
Affecting other Local Markets
The change in rules will affect local markets globally, especially those that are connected with the island in the financial and online gambling sector.
Australia, which has the biggest gamblers per capita in the world, enjoys a lot of online gambling that is secured with the license from Curacao.
Similarly, Spain and the mainland Netherlands will be affected. Spain has a mix of gambling operators and financial services, as well as cultural ties between Curacao residence and the Spanish.
The Netherlands is not as impacted by online gambling as they already enforce a lot of these rules for local players. But, the financial sector in the country is looking down on this deal.
New Independent Regulatory Body
The first demand from the Netherlands inside the package is the formation of a new and proactive regulatory body that will not only issue the new licenses but also supervise that operators are following the rules stated under them.
Curacao is not in the Eurozone and uses the Antillean Guilder. But, the price of the new master license will be increased to ANG240.000, which is about $134.000 or 113 thousand Euros. This is a steep increase from the current $35.000 which are operators expected to pay.
But, the possibility of losing the license will force all operators to follow all rules and abide by higher gambling standards, making the license itself more valuable.
Additionally, there will be no possibility of underhanded 3rd party license acquisition by buying off a company with an existing permit, as breaking any rules will have it revoked.
Slightly Stricter Acquisition
Operators that want a Curacao license will now need to prove that they are financially capable of running an honest gambling business and paying out their jackpots and major prizes without delays.
Also, they will need to follow the EU standards that regulate privacy information by their customers. But, as most good operators were already doing this to gain access to European markets, such a change shouldnât create a major impact.
Stop Player Targeting
Player targeting where large spenders are pushed to spend even more is forbidden under EU gambling regulation. Now, all holders of the Curacao license will need to have proactive tools that will prevent people from overspending.
Additionally, and changes to the playerâs IP address and behavior will prong investigation to prevent any chance of data or identity theft.
Increase Oversight
Unlike before, the new Curacao agency will assume a more âhands-onâ approach to the license holders. Regular testing, inspections, and information requests will be made by the institution to ensure that everyone is following the new rules.
Looking more like Malta
Many have considered Curacao a âsecond-gradeâ license compared to one provided by the Malta Gaming Commission because the European island-nation has been under EU laws since they were made.
But, with these deals in place, it is probable that the new rules will make the Curacao license more valuable and more alike to that from Malta. This will make the holders more trustworthy and will reassure the players that they are protected when gambling online.
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Win tickets to the BLAST Premier Fall Final: GG.BET is running a MEGA BLAST Competition for fans of ĐĄS2
![](https://europeangaming.eu/portal/wp-content/uploads/2024/07/fvfdgsadgareabvaaa.jpg)
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MANCHESTER CITY TO MARK GLOBAL PARTNERSHIP WITH SUPER GROUP-OWNED BETWAY AT THE NEW YORK STOCK EXCHANGE
![](https://europeangaming.eu/portal/wp-content/uploads/2024/07/mcyjksadljoisajdasndkl.jpg)
Manchester City has today announced a new multi-year partnership with leading global online betting and gaming brand, Betway.
As part of the clubâs pre-season tour of the United States, and to mark this significant deal, leading figures from Manchester City and Super Group will be on-site for the iconic NYSE bell-ringing ceremony later today. Ferran Soriano, CEO of City Football Group, along with Neal Menashe, Super Group CEO, will ring The Opening Bell at 9:30am EDT.
The agreement will see Betway become the clubâs Official Global Betting Partner from the start of the 2024/25 season, as Manchester City joins the brandâs extensive sports sponsorship portfolio which includes teams from across the Premier League, La Liga, NBA and more.
Ferran Soriano, City Football Group CEO, said: âWe are pleased to announce Betway as our Official Global Betting Partner today. As a globally recognised brand, Betway has a strong pedigree and history of working with high-profile brands within the sports space and weâre excited to work together throughout the partnership.â
Super Group CEO, Neal Menashe, commented: âWe are absolutely delighted to become Manchester Cityâs Official Global Betting Partner. This agreement cements our place in the top tier of Premier League partners, ensuring that our Betway brand reaches fans in all corners of the globe.â
Throughout the duration of the partnership, Manchester City and Betway will collaborate on a number of activations and exclusive content opportunities, in addition to the brand featuring across digital and in-stadia assets.
Manchester City and Betway will also work together to provide all players, coaches, management and staff in-depth, industry leading training on all relevant codes of conduct relating to betting integrity and responsible gambling. This is in addition to the work Manchester City already does to support players and staff in this area.
The Opening Bell ceremony can be viewed live.
Compliance Updates
Acquiring a Curacao Online Gaming License in 2024: Comprehensive Analysis of Financial & Procedural Aspects with Costs & Timelines Detailed
![](https://europeangaming.eu/portal/wp-content/uploads/2024/07/curacaduioapdj.jpg)
The “Acquiring a Curacao Online Gaming License, 2024: Comprehensive Analysis of Financial & Procedural Aspects with Costs & Timelines Detailed” report has been added to ResearchAndMarkets.com’s offering.
This report includes valuable insights into the financial and procedural aspects, including detailed information on costs and timelines associated with acquiring a Curacao license.
In 2023, Curacao introduced the “Landsverordening op de kansspelen” (Ordinance on Games of Chance) to modernize and regulate gambling legislation. Since March 2020, the Gambling Control Board (GCB) has been authorized to regulate offshore gambling games and oversee the issuance of Curacao licenses. As of 2023, there are 16 companies providing legal services for registration and licensing in the territory of Curacao. The license fee, as per GCB regulations, is 36,000 ANG or 19,800 USD, payable upon license issuance.
Research Timeline and Data Relevance
The research was conducted in two stages. The first stage, studying the regulator and Open Data Search, took place in December 2023. The second stage, writing the report and partially updating the data from the first stage, took place from the end of April to the end of May 2024.
Goals and Objectives
- Describe the information about the Curacao license and the issuing regulator.
- Describe the requirements and conditions for obtaining a Curacao license.
- Describe the costs and timelines for obtaining a Curacao license.
- Briefly study the market, find and suggest the following lists:
- Legal companies offering services for company registration and obtaining a Curacao license;
- Communication agents and integrators working with the Curacao license;
- Suppliers and vendors working with the Curacao license;
- Payment systems working with the Curacao license.
Key Topics Covered:
1. Goals and Objectives
2. Research Timeline and Data Relevance
- Document Markup
- Raw and Combined Data
- Terms & Glossary
3. General Information
- The Regulator
- Registration of Operators With Sublicense
- Application for an Online Gaming License
4. Requirements and Conditions for Obtaining a License
License Conditions
- General Prohibitions
- Safe and Secure Environment
- Equipment and Application Software
- Player Registration
- Payment Transactions
- Games
- Terms of Use
- Resolution of Complaints
- Administrative Responsibilities
- Publicly Available Information
- Reports
- Policies and Procedures
- Suspension and Revocation of License
- Additional Conditions
- Supervision
Recommendations or Minimum Requirements for the Business Plan
5. The Cost of the License
6. Decision Term and the Validity of the License
7. Application Method and Forms
8. Contact Information
9. Companies for Registration and Licensing
10. Integration Companies
11. Suppliers and Vendors
12. Payment Systems
13. META
14. Appendix: Terms & Glossary
For more information about this report visit researchandmarkets.com/r/izeo6g
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