The global gambling industry is a highly regulated network, governed by rules and regulations that benefit both the casino companies as well as patrons.
As such, licenses such as the Curacao license, which is a highly important license within the global gambling industry circles play a vital role for casino operators.
In fact, this particular license is one of the most sought after ones, especially for companies finding a way to enter and thrive in the online casino and gambling market. In this article, we explore more details about this license like what makes it so special.
Issued by the government of Curacao, the Curacao license for gambling and casino industry is basically a type of gaming license, which enables casino establishment and platform operators to conduct these activities legally.
The license was developed by the Curacao e-gaming licensing authority, which was established in 1996 and is among the oldest of its kind to exist. Through this license, gaming operators are given the permission to offer its patrons with a range of gambling and gaming options whether it be gambling in casinos, betting on sports, facilitating poker, or carrying out lotteries.
Since this island-nation has a unique system of working under a single license, operators only need to get this one license for all kinds of betting and gambling activities. This means, if operators wish to expand their offerings or simply start their business involved in multiple gambling verticals, it is not only possible, but made incredibly simple as they only need to obtain this one license. This is what makes the Curacao license in the global gambling network such a preferred choice among all casino and gambling businesses.
But that is not all, one of the most attractive features about this license is that it holds a legitimate value in several parts of the world, which means that even in other jurisdictions outside of Curacao, operators can yield the benefits of this license. Moreover, this allows operators to establish trust among potential players from across the world, and thereby helps online casinos establish credibility and attract more guests.
The Curacao license offers a wide range of advantages for the operators of e-games and casinos in addition to adding legitimacy and an easy way to facilitate several gambling activities with a single license. Some of the key advantages include the following:
The casino industry always faces trouble with establishing trust in the market. New casinos and operators often find it challenging to attract client because there are multiple unlicensed and fraudulent casinos and operators online as well. This is where a Curacao license comes handy. It helps build trust in the market and encourages new players to try out the platform for all the gambling opportunities it offers.
Another challenge casinos and game operators face is partnering with payment institutions and platforms to facilitate smooth operations.
The Curacao license offers a much needed assurance to the financial institutions that the platform is legit, encouraging them to partner with it. This way, casinos and digital gaming platforms can integrate multiple payment gateways into the platform, thereby allowing a seamless gaming and gambling experience to the players.
Moreover, by integrating multiple payment modes, gamers also feel more secure and comfortable with the gambling platform.
Now, with the perks it carries, you might think that getting a Curacao license will be a tough task that requires a lot of work and is probably just tiresome. However, its actually the opposite. Getting a Curacao license is quite simple and straightforward, which makes it even more popular among operators. Here's what you need to do to get this license.
The first step to getting a Curacao license is to incorporate a company in the Curacao islands. This is the company which will hold the license legally. The incorporated firm must be registered with the local chamber of commerce before you can move to the next step.
Once the business has been registered, the next step is to apply for the license by reaching out to the Curacao e-gaming License Authority. For this, you must submit an application, completely filled out with all the necessary details about the establishment.
Along with the application form, you also need to provide detailed business plans including which activities you plan on hosting or operating. Other documents such as identity and address proofs, clean criminal record, and more may be requested and must be provided promptly to complete the process as quickly as possible.
The licensing authority will then check the documents and application, ensuring that every piece of information is verified to be correct. This will also include conducting technical as well as compliance evaluations to ensure that all the business plans are aligned with the pertinent compliance framework. Since online gambling is common now, technical aspects will be assessed as well.
After all the checks are done, you must pay the licensing fee which contains several elements including an initial fee as well as an annual fee to renew the license after expiration. Since these charges are quite low, businesses do not need to worry about the burden they will put. Once all these formalities are finished, the license will be issued by the authority and operators can start conducting their business as planned under the jurisdiction of Curacao.
ConclusionThe Curacao license is one of the most trusted casino and gambling licenses in the world. Any casino business that possesses this license automatically becomes a well reputed one. However, despite being so prized, it is not as difficult to get as most others around the world, and with the number of benefits it offers, the process is completely worth the time investment. If you have a casino business and hope to expand it effectively to a global audience, a Curacao license might be just what you need to get things into motion.