Curacao License — Why Does the Curaçao Gaming Control Board Regulate So Many Casinos?

The online gambling aficionados among you have probably stumbled upon at least one platform licensed in Curacao. Plenty of great online gambling sites hold a license from the Curacao Gaming Control Board.

Actually, Curacao is one of the oldest and most reputable regulators, providing services for online gambling platforms since 1996. 

At the moment, there are more than 450 online casinos that hold a Curacao license. Apart from them, plenty of sports betting sites and online poker rooms reside on this Caribbean island. But why is that?

Advantages of Being Licensed in Curacao

Many online casino operators agree that the most significant advantage of being licensed in Curacao is the affordable taxes. 

Every gambling regulator imposes a tax on gambling revenue. This tax is often quite high, especially in highly-regulated countries.

New online casinos find it challenging to compete with already established platforms if they have to pay huge taxes, and a Curacao license is their way of staying competitive. Therefore, instead of spending 30% or more on taxes right away, they can focus their income on promoting their business to online casino enthusiasts.

There’s 0% VAT and 0% tax on corporate profits, making Curacao an offshore haven for many online gambling platforms.

The average price for obtaining a Curacao license is €23,500, which is much less than the fees you’d have to pay to regulators such as the UKGC. Moreover, renewing the license in this country is very affordable compared to many other regulators.

It’s also much easier to obtain a Curacao license. The regulations proposed by the Curacao Gaming Control Board are looser than those imposed by the UKGC, so your casino is more likely to be accepted. 

The process of obtaining a Curacao license is much more straightforward than the licensing procedures of other regulators. There’s less paperwork involved, and you’ll have to wait less before becoming an official licensee of the Curacao Gaming Control Board.

Curacao has been following the latest trends, too. It allows cryptocurrencies as a deposit and withdrawal method, which many casinos find convenient, as there’s a growing trend of crypto gambling.

Why Should You Bother Obtaining a License at All?

Every online gambling platform needs a proper license from a regulatory body. That’s the only option if you want your casino to be legal. Otherwise, there would be too many unregulated and untrustworthy casinos on the web.

A license is also a great way to tell potential users that your business is legal and fair. Online casino players are cautious when choosing a platform, and one of the first things they check is whether the casino holds a valid license.

In other words, you’ll have to gain the trust of your users and attract new ones by showing that your brand has been reviewed and approved by an official gambling regulatory body. 

If you’re new to the industry and what to kick-start your business without having to pay huge taxes right away, obtaining a license from Curacao is the way to go. Feel free to explore how to get a permit from this regulator — all of the information you’ll need is available on the web.

Oct 26, 2020