If you’re thinking of getting a Curacao gambling license, you should understand where and how to use it. First, you need to understand how quickly regulated markets are growing worldwide, thus affecting the costs of obtaining and maintaining such licenses. Luckily, a Curacao gambling license is a decent option due to its reasonable price and quick turnaround. But the question on all operators’ minds is — where can you operate a Curacao gambling license? We’ve got the answer, so read on.
Basic Info — Curacao Jurisdiction
Curacao is a small island off the coast of Venezuela that has been in the online gambling business the longest out of all jurisdictions — since 1996. The appeal of a Curacao gambling license comes from the simplicity surrounding it. So, you might be wondering — what are the advantages of the Curaçao gambling license?
Well, whether it’s the quick process of obtaining one, the all-in-one license, low-cost fees, or zero tax, the advantages are plenty. You will find it challenging to find a jurisdiction that will offer a whole package like this one.
Another attractive feature of obtaining a Curacao license is its low barrier to entry and lack of market restrictions. With that in mind, let’s check out where you can operate with this license.
Before starting your business, you should understand the seven types of gambling jurisdictions seen across the world.
- Jurisdictions where online gambling is entirely prohibited — Turkey, China, UAE, Cambodia, North Korea, Japan, Brunei, Lebanon, Qatar, Poland. Note that this list might differ depending on new regulations.
- Jurisdictions without laws on online gambling, like India.
- Jurisdictions that allow licenses to online gambling operators but not to provide services within the country and also do not allow any foreign license holders to operate.
- Jurisdictions that allow licenses to online gambling operators to provide services outside of the country but don’t impose restrictions on any foreign license holders to operate. For example, Costa Rica.
- Jurisdictions that allow online gambling only through registered operators in the same country or state, like some US states.
- Jurisdictions that allow online gambling through registered operators from the same country and selected foreign countries, like most EU countries.
- Jurisdictions that allow online gambling through selected foreign countries but have no laws within their own country.
All the more, the Curacao gambling license does not apply to Curacao itself, the USA, the UK, Singapore, some European and Asian countries, Aruba, Belize, Saba, Statia, St. Maarten.
You can also find out more about Curacao gaming license countries restrictions on GBO.
Note that the Curacao Gaming Control Board (GCB) regulates the online gaming sector, as allocated by the Curacao government in 2018. The GCB supervises all gambling sectors at the moment, but the Curacao Internet Gaming Association (CIGA) is responsible for issuing e-gaming licenses as a sector within.
What Else Should You Know?
There are a few other key points you should know regarding the process of managing a Curacao license in other countries. Take a look below.
Advertising might have its limitations.
Although you might have a legal right to operate within one country, you might have other restrictions that stop you from advertising without a local license. For example, you can legally operate with a Curacao gambling license in Australia but cannot advertise your online gambling platform.
Some payments may be limited.
Operating in certain countries might come with additional limitations, like payment-related ones. Not all payment options are globally accepted, so payment providers might stop certain transactions from going through if you don’t have a local license.
Cryptos are typically permitted.
Interestingly, the issue mentioned above does not affect cryptocurrencies as they are not considered real currency in many places. That means cryptos like Bitcoin, Litecoin, Ethereum, and others could represent a good option for your online gambling platform. As long as you avoid the forbidden countries, you’re good to go.