Curacao Gaming License
Wondering how to gain a Curacao gaming license and which steps you need to take? Than you are in the right place. A master license permits the holder to operate e-gaming businesses and to trade sub-licenses with other parties. Master licenses are only granted at the Minister of Justice’s discretion. Getting one in Curaçao has grown to be very challenging.
The holder of a master license may also provide a single-instance sub-license, which provides the same rights to legally operate online gambling activities. Sublicensee shall not sell to third parties any additional sublicenses.
How do I obtain a Curacao Gaming License in 2023?
There are six steps that you need to follow in order to get Curacao gaming license the fastest way.
- Formation of a company in Curacao – A firm asking for a gaming license in Curacao must provide proof of its Curacao residency, as well as evidence of its strong financial condition and the qualifications of its owners and managers.
- Paperwork and license submission – GBO will submit these documents on your behalf. There can be varying requirements depending on your individual needs.
- Pay the application fee and start the business.
- Wait till the license is ready for a few weeks.
- GBO will advise you on the best course of action in each situation.
- Create your website, open merchant accounts for accepting payments, and prepare AML + processes.
How much does a Curaçao gaming license cost?
Due in major part to variations in demand, different prices have been paid for the sub-license. The cost has often fallen between €15,000 and €20,000.
Why you need a license?
Aware of the enormous risk they run when entrusting their money to a casino operator who cannot publicly vouch for their full licensing, players have grown suspicious of such operators. Additionally, no amount of marketing hype will be able to persuade them that they won’t just be duped by games that are unfairly tilted in the casino’s favor.
Running a casino without the assistance of merchant banks and payment service providers is impossible. Its because of how strict they are about only providing their services to organizations that are fully licensed.
Due to the potential for use in money laundering and terrorism funding, owners, managers, and operators of illegal gambling businesses are held personally responsible for the results of their activities. Government agencies and their police forces work closely together to combat illicit gaming. Now, if the police put you before a judge, it might result in significant prison time in addition to fines and penalties.
Quality gaming software platform vendors are wary of selling their platforms to unlicensed operators since it could damage their reputation as a whole. Most gamers are familiar with the layout and design of these well-known packages. If your website deviates greatly from these, it will raise red flags.
Therefore, the costs of establishing a legitimate business with a full license in a recognized jurisdiction like Curacao are relatively low; the advantages it gives you in terms of marketability and ease of operations are significant; and all of this compares to the significant risks you face if you try to do it without the license.
