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In this article, we are going to explore everything you need to know about Curacao licensed online casinos. We will explain exactly what it is, why it is so popular, and how to receive a Curacao license. We will also look at the costs involved, key disadvantages, and what gambling markets the license allows an online casino to access.
A Curacao license is a type of gaming license which allows online casinos to offer legal betting services to customers in a variety of markets. To receive this license betting sites have to apply to the Curacao Gaming Authority and meet their strict regulations relating to security, protecting player’s funds, offering fair games, and encryption. Failure to comply can result in fines and loss of license.
As the Curacao gaming license is the most popular in the gambling industry, a wide range of betting sites hold this license. Bettors can play at hundreds of different Curacao licensed casinos, offering a world-class gaming experience. See below our picks for the best ones. To find more great online casinos, check out our extensive review here.
The Curacao gambling license has a number of unique advantages compared to licenses from other jurisdictions. These advantages include a site only requires one license to offer all betting services, no tax on profits, affordable, quick application process and allows sites to accept crypto and Bitcoin. Let’s look at these advantages a little more closely.
Many gaming authorities require betting platforms to apply for a number of different licenses based on the betting service they wish to offer. For example, to offer sports betting and online casino games, they would have to apply for two different licenses. This makes applying for and holding a license very expensive. Fortunately, with a Curacao license, sites only have to apply for one license, and they can offer all types of gaming (sports betting, poker, slots, lotteries, etc.), helping them reduce costs and bureaucracy.
Curacao licensed online casinos do not have to pay any tax. To receive a license, they only have to pay a reasonable application fee and an ongoing yearly fee. Other gaming authorities insist on taxing the profits of online casinos, which can start at 1% and reach as much as 15%. By being licensed in Curacao, betting sites can literally save millions.
The Curacao Gaming Authority does not insist on a betting site having a minimum amount of earnings or require a site to have years of operational history. Even brand new sites can successfully receive a Curacao license. Due to this, many startup casinos decide to get licensed in Curacao first before acquiring other more stringent licenses as their site develops and grows.
Acquiring a Curacao gaming license is much faster than other providers. Online casinos can receive their license in 3 weeks or less. The Curacao Gaming Authority has made the process extremely simple for offshore-based businesses to quickly establish a local company, compile the paperwork and apply.
Many gaming authorities have been slow to adapt to the crypto revolution. This has led to sites licensed in these jurisdictions being unable to offer crypto deposits and withdrawals to clients, which limited their customer base. Fortunately, the Curacao Gaming Authority has made it completely legal for all of its licensed betting platforms to accept crypto and Bitcoin.
Are you wondering how to get a Curacao gaming license? It is actually much simpler than you thought. All a betting site needs to do is collect the relevant documents, submit their application and pay their fee. Then they will receive their license within four weeks.
Prior to applying for a gaming license, betting sites have to organize a range of documents. Finding the required documents can be time-consuming and confusing. The most common documents required include passports of the board of directors, proof of funds, bank statements, and proof of address. The most important steps a betting site has to take are establishing a local company in Curacao, opening company bank accounts, establishing reliable payment processors and purchasing local hosting services. Once these steps are complete, an online casino can then submit its gaming license application.
After an online casino has gathered all of the necessary documents and successfully created a local company, established a company bank account and local hosting, they then can submit their Curacao license application to the gaming authority. During the application, a betting site will have to provide financial information such as bank statements, proof of funds, and incorporation documents. While this stage may seem daunting, the Curacao gaming authority has made it as simple as possible, and thousands of online betting platforms have successfully completed the process.
Once a betting site has ensured that they have all the necessary documents and submitted the application, they then can pay the application fee. The application fee involves a one-time payment of $1800. Once a betting site has received the license, it will then have to pay a yearly licensing fee of between $5,000 and $15,000.
As mentioned previously, a great aspect of a Curacao license is the speed with which it is processed. Online betting sites do not have to wait long to receive their license. Sites can expect to be licensed in 4 weeks and sometimes as fast as two weeks.
Once an online casino has become the Curacao licensed gambling site, it is time to go live. A betting site can now start accepting player payments, offering real money games, and processing payouts. With a gaming license, the casino can now legally offer its services to millions of gamblers from across the world.
Also for those who would like to feel more in control of their gambling, here on Be Gamble Aware website are a lot of useful resources and tools.
A great advantage of a Curacao license is the number of international markets it allows a betting site to enter immediately. We can confidently say that this license is the most popular in the gambling industry. The Curacao license countries are the following:
The following countries can be accessed if the betting site has a local license in conjunction with a Curacao gaming license:
If a Curacao licensed online casino also holds an EU gaming license they can access these countries:
The following countries are forbidden:
As you can see a Curacao license is a powerful tool that can help online casinos access previously blocked international markets. With this license, a betting site can quickly grow their user base and increase their revenue.
A great advantage of a Curacao gaming license is the low fees. To receive a license a betting site is looking at paying between $30,000 to 40,000 for the first year and then $20,000 to $25,000 on an ongoing yearly basis. The fees are broken down like this:
While this may seem like a lot of money this is actually significantly cheaper than other gaming authorities who not only charge much higher fees but also tax profits. With a Curacao gaming license betting sites pay zero tax and pay affordable ongoing licensing fees.
While a Curacao license may sound amazing thanks to its low-cost setup and simple application process it does have some disadvantages. These cons include there are many poor betting sites that hold this license, payments do get blocked, and there are limitations on marketing. Let’s look at these disadvantages in-depth.
As it is easy and cheap to receive a Curacao license a number of shady and scam online casinos hold this license. While the Curacao Gaming Authority does its best to limit these bad actors it is not as effective as other more stringent gaming authorities. By receiving this type of license your betting site may suffer a negative reputation among gamblers who may associate your site with other poor-performing license holders.
Payment processors have been known to block payments and deposits from a number of countries to Curacao-licensed casinos. This is particularly common in grey area markets where legislation is absent or still developing. Other gaming licenses are less likely to face payment issues.
While a Curacao license does give online casinos access to a number of markets, many areas are blocked or severely limited. For example, Curacao licensed online casinos are explicitly forbidden from providing their services in the USA, France, and the Netherlands. To operate in countries such as Australia, UK, and Canada they have to apply for local licenses.
The Curacao gaming license continues to be the most popular option for betting sites looking to offer legal gambling services. This is due to its affordability and simple application process. The license can be received in less than 4 weeks for under $50,000.
We have presented some of the best casinos who currently hold this license and also shown you the advantages and some of the disadvantages of the licenses. After reading this guide you not only know the top licensed sites but also have all the information you need to apply for your own license if you have plans of opening your own online casino.
The major benefits include:
The disadvantages include:
Getting a Curacao license is easy just follow these steps:
The initial cost of acquiring a license is between $30,000 to 40,000. This includes the cost of creating a local company, application fee, licensing fee, and mandatory local hosting and server fees. The ongoing year cost is around $20,000 to $25,000.