Online gambling operators with licensing in Curacao may face big changes due to the island deciding to fold under pressure from the Netherlands. New rules and restrictions will be introduced involving licensing for betting and online casino companies in Curacao. The island relies on the tourism industry for revenues and this year the COVID-19 pandemic has caused major damage. To help, the country has been receiving funds from the Netherlands. However, they are now only going to receive financial support if they meet certain obligations regarding the iGaming industry.
Curacao and the Netherlands reportedly made an agreement and together signed a Country Package also known as Landspakket. In the package, Curacao agreed to make changes regarding licensing of online casino and sports betting companies.
Right now, there are thousands of operators who are licensed in Curacao. However, many of these operators target players in areas that do not authorize online gaming. This includes the Netherlands. So, the Country Package requires that Curacao make such operators stop offering services in the Netherlands.
For Curacao, they will have to create a new regulator that is independent that will oversee the gambling industry and provide licensing to online gaming operators. The regulator must be in place by March of next year.
Licenses must be revoked by the regulator regarding any operator who does not comply with the new rules and regulations. Right now, Curacao has provided many master licenses to private telecoms that are sub-licensing sports betting and online casino operators. There is no actual regulator in place that oversees what the license holders are doing.
Based on the Country Package, licensed operators in Curacao will not be allowed to accept players from other territories that are regulated. Only countries that accept Curacao licensing will be allowed. A plan must also be in place by September 2021 that will prevent licensees from targeting customers from territories that are prohibited.