Who regulates Curaçao gaming companies?
In 2018, the government of Curaçao allocated to the Curaçao Gaming Control Board (GCB) the regulation of the online gaming sector. The GCB is now the AML/CFT supervisor for all gaming sectors including online gambling.
Within that body is the Curacao Internet Gaming Association (CIGA), a section responsible for issuing e-gaming licenses.
Is it legal to operate a Curaçao gaming company without a license?
The Curaçao government issues a single license for any type of gambling service. Operating from within Curaçao without a valid license is illegal. The government there works in partnership with the Central Bank of Curaçao and Sint Maarten (CBCS) and is a member of the International Association of Gaming Regulators (IAGR).
From which countries can players gamble on a Curacao online gaming casino?
It is important to recognize that players are wary of unlicensed casinos, or of ones that are operating out of countries that do not enforce the security standards accepted by others. This is what makes Curacao such a desirable location for your casino operation. It has one of the best reputations in the world and your license is your gateway to the gambling market.
The Curacao Gaming Board has set the terms of how license holders can operate. The only specific restrictions that are placed on license holders are that it cannot accept wagers from players located in the following jurisdictions:
- The US
- The Kingdom of the Netherlands
- Dutch West Indies
These are the only countries that casinos with a Curacao Gaming License are explicitly forbidden to permit players to wager. However, there is no oversight by the board. It requires online casinos to use the standard KYC AML and CFT that apply to all the other registered online casinos worldwide.
It is not the responsibility of the Curacao license holder to detect that players are registering themselves from blocked countries and accessing the website illegally.
Other countries or jurisdictions may have legislated restrictions on gaming. These restrictions are not applicable only to Curacao, but apply to casinos all over the world.Some other countries have blocked or restricted online gambling. These fall into a few broad categories:
Gaming is totally banned in North Korea, Singapore, Qatar, Cyprus, Brunei, UAE, Cambodia, Japan and some other Middle-East kingdoms. This is not a specific restriction on Curacao casinos, but involves gambling on any online website based in any country.
Curacao Restricted countries
Many countries restrict online gambling to either their own state-owned monopolies (example, Poland, Ethiopia) or to casinos that are licensed by that country’s gaming authority (such as Austria, Belgium, Georgia, Bulgaria, Croatia, Sri Lanka, Denmark, Estonia, Finland, France, Germany, Italy, Netherlands, Romania, Spain and the UK.) This is so that the country can collect the appropriate gaming levies on wagers and corporate taxes on the companies holding the licenses.
Several countries forbid gambling on websites that are run by casino operators based inside that country, but the citizens are allowed to gamble on casinos in other countries, such as Curacao. Examples of these include Canada. most of the EU members, and Switzerland.
In most of the remainder of the world’s jurisdictions, its citizens can access and gamble on a foreign casino without restrictions. In most of them, the government has simply not set up any controls that either define or restrict online gaming. Most of sub-Saharan Africa as well as India are unregulated in terms of what kind of online gambling is permitted.
In addition to getting the license, what else do you need to do?
Even with the license in place, a subpar online gambling platform will fail to attract and keep customers. This is how you give your players what they want:
Establish a recognizable online presence – With our Turnkey Solution, you can quickly enter the online casino industry thanks to our fully-customizable platform, which features a unique design, client management systems, and marketing tools. Your company can be up and running in as little as one to three months.
Integrate a sportsbook – While expanding your offerings to include thrilling live dealer games, classic table games like blackjack, and thrilling slot machines is a smart move, you need not stop there. Because of the worldwide interest in placing wagers on sporting events, your platform’s potential user base will grow exponentially if you offer a wide range of sports and events on which to wager and provide thorough data feeds.
Install a bunch of different games in your casino – Stock your gambling establishment with the best equipment possible. If you want to attract the long-term players who make up a large portion of many casinos’ business, you need to offer them games they value as much as you value their money, rather than a hastily put-together online slot hall that works for a few weeks. Stock your gambling establishment with fantastic titles created by the best studios in the world.
Pay attention to advertising – Focus on advertising, as these are the best ways to start bringing in new players. Joining an affiliate program is one strategy many online casinos use to bring in new customers. Affiliates, such as streamers and bloggers, are a great way to get new people to check out your site.
Make sure there’s a way to pay for things – Make sure your players can buy and sell items anywhere on your platform. Your clientele is likely to be global, so you’ll need to process transactions in a variety of currencies, including Bitcoin and other digital currencies.
There are a number of advantages to having a number of different ways to pay for your Curacao gaming license.
Customers are more likely to be happy with your service and return if you give them multiple ways to pay.
More potential buyers can be attracted if they have a choice of how to make their purchase; this is because various payment methods appeal to various buyers. Credit cards are still widely used, but newer payment methods like e-wallets and cryptocurrency are gaining popularity.
Customers are more likely to complete a purchase if they have a variety of payment options from which to choose, so offering more payment methods can boost conversion rates.
More money coming in because more people will use your platform to buy things, thanks to your expanded payment methods.
Providing a variety of payment methods allows customers to select the one that best suits their needs, thereby decreasing the likelihood of payment problems or mistakes. There will be fewer chargebacks and fewer disputes over payments because of this.