What’s hot & new

Innovation in crypto wallets and other popular payment methods

1 day ago

New game added! See the review of Tropicool 3 here

3 days ago

New game added! See the review of Royal Seven Deluxe here

3 days ago

New casino added! See the review of Captain Spins Casino casino here

3 days ago

CGB extends the deadline for applications by sublicensees

3 days ago

New casino added! See the review of CasiGO Casino casino here

3 days ago

How smells influence emotions, memories and behaviour

4 days ago

Don’t miss the Jackpotz Mania taking place at BitStarz Casino

5 days ago

"Jalla casino App for Sweden with Face ID."

9 days ago

"Mr Play casino now offers Mobile Pay to Denmark players and Apple Pay for players in the UK."

16 days ago

Discover loads of curious Gambling Guides!

What’s hot & new

Innovation in crypto wallets and other popular payment methods

1 day ago

New game added! See the review of Tropicool 3 here

3 days ago

New game added! See the review of Royal Seven Deluxe here

3 days ago

New casino added! See the review of Captain Spins Casino casino here

3 days ago

CGB extends the deadline for applications by sublicensees

3 days ago

New casino added! See the review of CasiGO Casino casino here

3 days ago

How smells influence emotions, memories and behaviour

4 days ago

Don’t miss the Jackpotz Mania taking place at BitStarz Casino

5 days ago

"Jalla casino App for Sweden with Face ID."

9 days ago

"Mr Play casino now offers Mobile Pay to Denmark players and Apple Pay for players in the UK."

16 days ago

loader search icon
Popular pages
Our top casino picks for United States of America 🏆
Let’s Lucky Casino logo
Hiperwin Casino logo
Wazamba Casino logo
Lucky 31 Casino logo
LV BET Casino logo
Lucky Dreams Casino logo

    The impact of Curacao’s tightened grip on online gambling industry

    news thumbnail image

    Curacao agreed to Netherlands terms of tightening its grip on the iGaming industry, including stricter licensing.

    The online casino industry continues to prove its resilience in the face of not only the current worldwide pandemic but also the constant ebb and flow of regulatory requirements. A vital part of the maturation of the iGaming market is a deepening realisation of the gambling responsibility for the protection and support of at-risk players.

    The necessity of a give and take mindset

    One of the regions to feel the pressure to take better care of those who come under the purview its licensing is Curacao E-Gaming. The regulator was "strongly advised" to review and improve its licensing program by the Netherlands. In return, the Netherlands confirmed that it would offer Curacao much needed financial aid.

    While at first the "liquidity support" came with no strings attached the Dutch Government changed its mind in July, stating that in order for the support to continue Curacao would have to agree to a number of conditions or further support will be withheld. This is due to the direct impact that Curacao gambling laws have on the Dutch market.

    October 2020 saw Curacao agree to the Dutch requests which include several amendments and improvements to its current laws. The Dutch government stated that the agreement with their Curacao counterparts regarding 'measures and structural reforms' lends itself to improving the financial, economic and administrative viability of both regions.

    What changes lie ahead?

    Among the changes suggested by the Netherlands are three key items which stand out as the most urgent and important.

    Firstly, one of the stipulations in the agreement is for Curacao to form a new independent regulator who will oversee the country's gambling framework which includes the issuing of licenses to select operators. The regulatory body will be brought into force by the 1st of March 2021.

    In addition to the newly minted oversight committee, all Curacao licensees are to act in accordance with the laws and regulations of the regions they target for player acquisition.

    Lastly, Curacao was tasked with ensuring that its licensees fulfil their obligation in terms of taxes and operating fees to ensure the necessary cash flow is available to them, and to the regions, they are generating revenue from.

    Will this make a measurable difference?

    The news of tighter regulations and new regulatory bodies has led many to wonder how it will impact the industry given the vast number of online casino who hold Curacao licenses.

    Right out of the gate there are several short terms changes which will impact the casinos daily operations and bottom line. These include increased pricing on master licenses, the prevention of targeting players from predetermined regions and more intensive scrutiny of their business practices.

    The new master license will cost $35,000 more than it used to and existing licensees will need to follow the rules if they don't want to lose their current licenses.

    While these regulatory changes could make it harder to obtain a license, especially for the first-time operators, the increased difficulty of obtaining a license will also increase its value and raise the profile of those who qualify for one.

    On a regional front, the changes, while driven by the Netherlands, will not be limited to that one country. The proposed changes are expected to shake things up in Australia and Spain, as Curacao licensed operators are major players in these markets due to their current regulations.

    Spain also hosts a mix of gambling operators, financial services and has deep cultural ties with Curacao which adds another layer of complexity to these sweeping changes.

    Safer gambling receives a boost

    One of the best new regulatory restrictions enhances safer gambling in Curacao licensed casinos by prohibiting casinos from targeting big spenders. Online casinos are no longer allowed to encourage these players to spend even more.

    Curacao has a tough job ahead changing outdated regulations and implementing new changes that will tighten its grip on the industry and operators. Doing so successfully will increase the value of licenses, lead to a safe gambling environment and better gaming experience for all players.

    Published: December 3, 2020

    Anything incorrect or missing?

    Let us know

    Article by Stelly

    CasinoWow Contributor

    Hey there! I am Stelly, and happily, I'm part of CasinoWow's content team. It excites me to be able to write and share with all gambling enthusiasts unbiased reviews and news that contribute to the gambling community and industry. Thankfully, I also have the chance to help you make an informed choice for casino brands and games, as well as provide interesting guides and news.

    Mentioned in this article

    Highroller Casino logo
    Highroller Casino
    BitStarz Casino logo
    BitStarz Casino
    King Billy Casino logo
    King Billy Casino
    Casino Friday logo
    Casino Friday
    BitKingz Casino logo
    BitKingz Casino
    GoSlot Casino logo
    GoSlot Casino
    Gamdom Casino logo
    Gamdom Casino
    CrocoSlots Casino logo
    CrocoSlots Casino

    Related content

    NEXT UP IN REGULATIONS

    THE LATEST

    Most popular

    news item
    Innovation in crypto wallets and other popular payment methods
    news item
    CGB extends the deadline for applications by sublicensees
    news item
    Don’t miss the Jackpotz Mania taking place at BitStarz Casino
    news item
    The global gambling connection: Uniting players worldwide
    news item
    Top 5 EU crypto casinos ready to welcome you in 2024
    banner image

    Popular

    Special Guides

    Features

    CasinoWow

    banner image

    Related content

    NEXT UP IN REGULATIONS

    THE LATEST

    compass icon

    Guides

    Online gambling guides
    press icon

    News

    Latest gambling stories
    questionmark icon

    Help

    Online gambling FAQs

    CasinoWow © 2024

    CasinoWow.com Cookies

    We use 🍪 cookies to improve your user experience. By continuing to use this site, you are agreeing to our use of cookies as described in our Cookie Policy.

    Accept

    SUBSCRIBE for EXCLUSIVE offers!

    Be the first to get exclusive bonuses and WOW casino promotions! Get access to our new online casinos, top stories and special iGaming events for FREE.

    Share this page across social platforms!

    Facebook
    Twitter
    Instagram
    Linkedin