Curacao Casinos
Casinos with Curacao licenses are becoming increasingly popular among players. Since the online gaming sector began to gain popularity in the middle of the 1990s, the requirement for regulatory bodies to regulate the industry has become a principal concern for casino sites, sportsbook owners, and, of course, customers.
As very few nations had made internet gambling legal, how to regulate the industry was extremely complicated. The small Caribbean island of Curacao was one of the first nations to take the bull by its horns and provide some form of regulation for an increasingly popular online gaming and gambling industry.
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Curacao is actually a member of the Kingdom of the Netherlands. In 1996, the Curacao government founded the Curacao Gaming Commission, a online gaming industry regulatory body.
The Curacao Gaming Commission, known as the CIGA, regulates and licenses the IPs (Information Providers) of casino websites, sportsbook operators, and various other types of operations involving online gaming and gambling.
As one of the first nations to offer some form of industry regulation, the Curacao jurisdiction is now considered one of the principal regulatory agencies for internet gaming activities worldwide.
What does the Curacao jurisdiction offer?
Being an early founder of igaming regulation, the Curacao eGaming Commission Association has comprehensive knowledge and experience of the industry, which it passes to its members. Being principally focused on the compliance of IPs means operators have a comprehensive and dependable source of help, assistance and advice in terms of establishing the technical components of their operations.
Not only this, but the island of Curacao has a stable financial outlook and a tax system that is considered favourable to many businesses. Furthermore, different licenses separate from the one that the Curacao jurisdiction provides are not necessary for the various types of internet gambling, including lotteries, sportsbooks, casinos, and betting exchanges. Many see that one solitary license covers the different aspects and features of the online gaming and gambling sector as favourable.
What are the regulations?
The Curacao online gaming jurisdiction focuses on technical elements. To implement regulations related to the industry's technical aspects, the Curacao eGaming Commission has data centres in strategic positions around the world.
The operator must hold a registered and valid IP address to apply for a license with the Curacao eGaming Commission. The operator must submit the relevant paperwork to the Commission for approval. If the Commission approves the operator, it must make regular IP audit submissions to carry out a test for complete compliance, which is mapped on by the guidelines of the Curacao jurisdiction.
Members of the Curacao eGaming Commission must abide by the association's rules, such as avoiding unfair advertising practices and maintaining a solid audit trail for all customer transactions.
Advantages of casinos with a Curacao License
Many players head to online slot sites with a Curacao license because they often offer the best of both worlds. It is a respected license that offers protection and security to players. Yet, players with Curacao licenses tend to offer players much higher bonuses or free spins than, say, a casino with a UK Licence. Because of the high levels of taxation on UK licensed casinos, the welcome offers and bonus schemes are much more limited, so players looking to find new casino sites with more generous offers such as free spins, no deposit, low minimum deposit with high bonuses or simply really high deposit bonuses, will be able to find them more regularly at casinos with a Curacao license.
The Gamstop regulations, like those of UK-licensed casinos, do not bind casinos with a Curacao license.
Are there any disadvantages to Curacao-licensed casinos?
The main disadvantage, which would apply to most other casino licenses, is that it isn't as robust and strict as a UK License. Casinos with a UK License must adhere to some of the most robust laws and guidelines, offering players the greatest amount of protection and security. While other licenses are still perfectly acceptable and trustworthy, many players prefer to stick to UK-licensed casinos for greater peace of mind. But with that comes the limit on bonuses and VIP schemes, and if you're signed up to Gamstop, you can not access any UK-licensed casinos at all.