Why Is There A Surge For The Curacao Gaming License For Online Casinos In 2024?
Online casinos are heavily in demand because people love to play poker, blackjack, roulette, slots, and many more. Such a demand shows significant growth in online casinos, and as per the news of Yahoo Finance, the current market size is $93.26 billion, and in 2029, it’s going to reach $153.21 billion. So, many operators and entrepreneurs want to choose this field and knowing the benefits of the Curacao gaming license, they are rushing for the same. Here, you will get to know about the prime reasons that are attracting entrepreneurs and iGaming companies for Curacao gaming licenses.
What Makes Curacao Gaming Licenses Different From Other Jurisdictions Issuing Licenses?
Before moving on to the main topic, it is essential to know the geographical section of Curacao, as this section also helps this autonomous country get a big name in the casino world. Curacao is an autonomous country that comes from the Kingdom of the Netherlands and is surrounded by Venezuela, Colombia, and others, which makes it favourable for businesses to operate Casinos in this region.
Moreover, Curacao has been offering a gambling license since 1996, which means this country has acquired a name and history in the world and still iGaming companies are looking for ways to get a Curacao gaming license, which means that this country is providing something valuable that others failed to do so. Now, let’s look at those factors that make Curacao gaming license different from others.
Cost-Effective
Whenever you start a new iGaming business, you will look for the expenditure that will occur during the setup, and obviously, you will try to minimize the expenditure. So, here, a Curacao gaming license could work for you as even after the recent changes the application fee and other charges are comparatively lower than those of other jurisdictions issuing gaming licenses like Malta. In addition, the taxes charged by the respective authority are also lower against the iGaming activities; you can achieve almost 0% tax rate.
A Single License To Conduct Multiple Games
After getting a Curacao gaming license, you can operate multiple games for users, such as online casino games, eSports betting, and more. It means you won’t have to take additional licenses for other games, as this license is like an umbrella that covers every iGaming activity.
Encourage Business Growth
The jurisdiction plays an important role in attracting players as it builds trust among players and enables iGaming companies to expand their businesses by attracting global audiences. Curacao gaming license is trusted by global players, and they have deep faith in the same. They know that the rules & regulations underlined by Curacao Gaming Control Board (GCB) are favorable for them, and the operators need to adhere to the same. So, they choose operators or iGaming companies licensed by Curacao.
Smooth Licensing Process
In some jurisdictions, there are complex license processes where you will have to follow rigid compliance procedures and abide by their strict governing rules. However, in the case of Curacao, the licensing process is very smooth, and you will get the Curacao gaming license https://inteliumlaw.com/gaming-license/curacao/ in a few days. The sole aim of the GCB regarding speedy licensure procedure is to promote the growth of iGaming companies.
More Flexibility
Curacao casino license allow to have a greater range of flexibility compared to other jurisdictions, such as Malta. It enables you to deal with giant iGaming companies to fulfill the software required to run online casino games. Moreover, you will be a free bird to manage your operation in various regions and to compete in the market, you can introduce a series of games, depending on the market of that region.
What Is The Role Of GCB In The Surge Of Curacao Gaming License In Online Casinos In 2024?
The Curacao Gambling Control Board is the governing body that is responsible for regulating brick-and-mortar-based casinos, online casinos, lotteries, and more. The sole aim of the board is to enhance the gambling market around the world by encouraging iGaming companies and entrepreneurs. This becomes possible through smooth licensing procedures, maintaining transparency, strict rules for AML (Anti-Money Laundering), and encouraging fair & honest gambling practices.
The above steps taken by GCB and recent reforms made in Curacao Gambling licenses are attracting a lot of operators and gaming companies to take licenses from this country. The key reform that should be done in online casinos is the setup of the Curacao Gaming Authority (CGA) which will be responsible for regulating games.
Major Licensing Reforms Responsible For The Demand Of Curacao Gaming License In Online Casinos
In Curacao, there were two types of gambling licenses: Master license and Sub-license; the former was dominating in nature as Master licensee was responsible for issuing sub-license to operators. The sub-licensee operated a business under the license of the master licensee, and their license validity was dependent on the master’s license. The domination of the master licensee brought several challenges to the governing body, so they brought reforms to bring more transparency and reduce the dependency on the master licensee.
Establishment of CGA is expected for regulating the gaming activities to ensure fair play conducted by the operators. Moreover, this reform has abolished the Master licensee, and now the operators can submit their application for gaming license to CGA. This reform attracted a lot of iGaming companies and new entrepreneurs to Curacao’s jurisdiction for the gaming license.
Conclusion
If you want to step into this booming world whose market size will be $153.21 billion in 2029, then you should get a Curacao gaming license. This license is reasonable in cost and offers you ample flexibility to run your iGaming business. In addition, the Curacao gaming license is quite popular among players because of the pivotal role of GCB in maintaining transparency in business and executing rules & regulations, and these factors make them trust in this jurisdiction. So, you will get an opportunity to attract them & global players to boost your business.
