This question can be answered in two ways:
- It is possible to run an online casino from a country where there is no regulation of online gaming like Costa Rica which doesn’t offer any online gaming license option. Obviously this is the cheapest option so it is usually the choice of small casinos and e-gaming start-ups that are still inexperienced. However the gaming industry is progressively moving towards regulation and players prefer to spend their money on sites that are regulated and thus safer and more trustworthy. Operating from an unregulated jurisdiction may be cheaper in the short term but cost you more in the long term if issues and problems arise.
- For this reason the better option is to set-up your online gaming business in a jurisdiction which has a regulatory body – even if it will cost you an application and license fee. One of the most popular jurisdictions with a recognized and respected licensing regulatory body is Curacao. Curacao gaming licenses are legitimate, recognized and expedient to obtain. Note that the Curacao license will not permit you to accept players from restricted countries in North American and in Europe.
One of the best features of a Curacao e-gaming license is that it allows you to operate several different types of online gaming like sports betting and casino games, lotteries and games of skill. With a Curacao license you will not need to obtain a separate license for each type of e-game you operate.
Four Reasons to Operate your e-Gaming Business with an Official Online Gaming License:
- Players consider websites with an e-gaming license more reliable and fair because they are regulated. This inspires confidence to play in the licensed poker rooms and casinos. Ultimately this means licensed e-gaming operations get more players playing for longer periods and spending more money.
- In most cases banks will insist on seeing a license before allowing you to open a corporate account for a gaming operation. The banks will also request to see your license when you are making arrangements to receive players’ payments by credit cards.
- In many countries it is illegal to operate an Internet gaming website without a gaming license. By doing so you open yourself up to criminal prosecution and termination of your business.
- When you are operating your e-gaming business with the correct gaming license you are working within a given framework laid out by the regulatory body which issued your license. This takes away the uncertainty and doubt you may have about your activities being legal or illegal. For this reason you will avoid sanctions and other problems if you have a license and are operating according to a regulator’s rules.
E-Gaming Licenses in Curacao
Curacao was one of the first nations to introduce online gaming regulations. Before the dissolution of the Netherlands Antilles Curacao was one of the Caribbean Dutch island territories but since 2010 Curacao is a constituent country of the Netherlands. This means that Curacao holds the unique statues of being part of the EU without actually being in Europe. This means that Curacao has the benefits of the EU without the heavy taxing. The Curacao Gaming Commission has strong links with the Netherlands and is a respected regulator of online gambling in the gaming industry. The application process for a Curacao gaming license is straightforward. Curacao licenses are in high demand and they are relatively inexpensive and require low-cost annual maintenance.