It’s almost started, but most players won’t notice the changes to Curaçao online casino licenses

Changes are taking place in the jurisdiction for online gambling on Curaçao and soon a new law will come into effect. Readers can find more information about the background and a framework at the end of this article.

From September 1st everyone The new licenses will be issued by the Gambling Control Board (GCB) from Curaçao.

In a current iGB LIVE (iGaming Business Conference) from the Ministry of Finance of Curaçao, Sixienne Jansen explained how the online gaming licenses issued by the jurisdiction of Curaçao will work from September 1st, 2023 according to the National Gaming Ordinance (LOK) of Curaçao.

LOC Not yet the law of the country

It is important to note that the LOC is not yet the “state law”, but there are binding agreements between Curaçao and Amsterdam on its content and full implementation. After August of this year, new licenses will be issued to master license holders under the new rules, although the LOC has not yet been submitted to Parliament. To ensure continuity, all four master license holders will automatically receive one of the new licenses on September 1st. The license will be provisional and valid for one calendar year.

The LOC will reform how online gambling licenses work foreign operators. Almost all licensed offshore casinos available to players in the United States are licensed and regulated by Curaçao.

Under current law, there are four main license holders in Curaçao, and these license holders can “sub-license” operators of any game of chance or skill, be it poker, table games, betting, online casino, lottery or any other form of remote play. It is estimated that there could be as many as 12,000 licensed gambling operators on Curaçao. However, the number of active traders is likely to be significantly lower.

The Curaçao government plans to convert the entire system into one gradual reform without interrupting ongoing business operations.

According to Jansen: “No operator is forced to suspend or cease operations as a result of ministry action. One of the key elements of the transition to the new regime is to allow for the uninterrupted continuity of all activities of sub-license holders.”

When the LOC comes into force, all “under-licensed” operators will have only one option 90 days to apply a new license regardless of the remaining term of your previous license. However, main license holders will no longer issue new permits and all provisional or provisional licenses will be issued directly by the Curaçao Gaming Control Board (GCB). These licenses are later automatically converted into LOK licenses.

New regulation to comply with international standards

However, the new regulation will be somewhat stricter to better match international standards. While current license holders already have specific obligations and are verified by master license holders, the LOC requires operators to submit three forms, while the application process under the current regime has never been fully explained to the public.

  • Online game application:
  • Personal opinion:
  • Corporate Disclosures:

Once an applicant has met the GCB’s form and documentation submission requirements, a license is issued.said Jansen.

Within 6 months of this license, the audited policies and procedures must be submitted for evaluation.”

The same regulations as before continue to apply. binding during a 9-month transition periodTherefore, there should be no interference with operators’ trading practices.

Jansen explained that operators who do not wish to participate in the new regime will have nine months to liquidate their companies under the existing rules: “Operators who do not wish to migrate to the new license system can continue to operate until the expiry date of the corresponding main license.said Jansen.

A summary of the points about the new licenses include the following:

  • Licenses issued after September 1st will be issued by the GCB on the basis of applicable laws and regulations and will not be directly controlled by the LOC as this is not yet ‘state law’.
  • The GCB will not issue sub-licenses, but these will continue to be available to master license holders from September 1, 2023 until the implementation of the LOC.
  • The new anti-money laundering and responsible gambling regulations will be made available to the public as they will be part of the new licenses.
  • Current license holders or those with pending permits should check with their licensor for more information on how to proceed – this includes operators whose licenses are currently “on hold”.

Business as Usual – for now – as operators move forward – new process on the way

Contrary to popular speculation, there have been no changes to the legislation or permits since the minister publicly announced the text of the new legislation last November.said Jansen.

One point needs to be repeated:
From September 1st all new licenses will be issued by the Gambling Control Board of Curaçao (GCB).

The minister is expected to issue further guidance and updates, as well as a new operator fee structure, in September.

More information on Curaçao’s Gambling Law

Curaçao is a license provider of Online Gambling Sites and a casino regulator with an outdated, semi-transparent framework that is poorly understood by laypeople and government officials in other countries. In short, the government has issued “master licenses” to four master licensors, who then accept or reject individual gambling operators and “sub-license” to online casinos, sportsbooks and other remote gambling operators.

More information about the former island of the “Netherlands Antilles” shows how difficult it is to call it a country or to explain its relationship with the Netherlands, independence or independence Obligations to the Dutch Government.

The following is from Wikipedia and is known to be a true statement: “After a referendum and as a result of a constitutional amendment, Curaçao became a constituent country within the Kingdom of the Netherlands on October 10, 2010.

Further background information shows that the Kingdom and the Government of Amsterdam have done so ever since fought for the modernization of gambling law there and more recently to align it more closely with the way gambling regulation and enforcement works in other jurisdictions.

The Netherlands is a parliamentary democracy. The Dutch can choose who represents them in Parliament. The Netherlands is also a constitutional monarchy.

To further complicate the Dutch government’s reform efforts, the following fact is inserted: “Curaçao enjoys full autonomy in most matters, with exceptions summarized in the Charter for the Kingdom of the Netherlands under the heading “Kingdom Matters”..

Only the constituency on the small island needed it Amsterdam aid during the global health emergency of the Covid pandemic that the Dutch government was able to exercise enough influence on Curaçao to “encourage” them to change the way gambling regulation and enforcement is handled and to provide them with a timeline for implementing those changes.

It is also important to note that the The Netherlands itself recently reformed its online gambling laws.

The UK Law Review is a well-known and trusted website with specific and frequently cited information on gambling laws around the world. The lawyers there say the following about Dutch online gambling law:
From April 1, 2021, remote gaming licenses for casino games, sports and horse racing betting will be available.”

A more transparent regulatory framework with public and private guarantees in line with international standards It can only be a good thing for Curaçao. Greater accountability for responsible gambling practices can only improve the gaming experience. However, as long as the CGB does not provide for a complaints procedure and proves that it works on behalf of the players, the perception is unlikely to change much.

If the CGB is no more receptive than most master license holders the “little” troubles, it will have been vain lip service to the problem of dodgy terms and conditions, including the “Gotcha” and “God” clauses. Currently, only a serious breach of license terms is investigated, and the public has no direct knowledge of what those terms might be and rarely learns the outcome of an intrusion.

Spring: Curaçao: All master licenses can be extended by one yeariGaming Business, July 12, 2023

Leave a Reply

Your email address will not be published. Required fields are marked *

Casino Magazine

Groove and 3 Oaks Gaming join forces for global expansion

Groove, the famous iGaming casino platform provider and aggregator, has partnered with 3 Oaks Gaming, the renowned iGaming content distributor. A significant step towards global expansion This is not the first agreement groove recently agreed. The company has previously signed several agreements ICE2024 to strengthen its position in the global market and expand into new […]

Read More
Casino Magazine

The Finance Minister of Curaçao specifies the new gambling law

Javier Silvania, Finance Minister of the Government of Curaçao, issued a statement condemning his demands “Disinformation” about the country’s new gambling law. The National Gambling Regulation, a new legislation that will completely reform the way gambling is regulated in Curaçao, was presented It will be submitted to the country’s parliament for approval in December 2023. […]

Read More
Casino Magazine

Spinomenal signs content agreement with CasinoBarcelona.es

Spinomenal, one of the leading casino game developers and content provider for the iGaming industry, has signed a content partnership with CasinoBarcelona.es, one of the most well-known operators in the Spanish regulated market. As part of the partnership, the studio will integrate its high-quality content on the OpenGaming™ platform, provided by leading aggregator Light & […]

Read More