Curaçao to trigger gambling action plan in December21 Dec 2021
Curaçao’s liberal gambling legislation under the gun?
We might see improved gambling regulation from Curaçao in the near future.
Sander Dekker, the Dutch Minister for Legal Protection, recently revealed that Curaçao is in the process of issuing an “action plan” in December to fight the rise of illegal gambling from Curaçao.
The action plan comes as a response to a recent article by Follow the Money, where it’s suggested that up to 40% of the world’s unregulated gambling supply originates from the small Dutch Caribbean island.
The Financial Charm of Curaçao
Online casino operators have been opting for gambling licenses from Malta or Curaçao for years, mainly because of the almost non-existent tax liabilities that come with operating from these countries.
Curaçao operators have, for example, enjoyed paying 0-2% tax on their profit in exchange for a fairly low licensing fee.
The license from the Caribbean island is also known for its lax view on responsible gambling and fund tracing, opening for operators to offer cryptocurrency payment options to their players.
A welcome change, from a player’s perspective
The action plan could result in operators being required to follow stricter legislation, pay more tax, and increase player protection.
All of this is great news for players, as it means that they can continue to trust their favorite online casino sites, relying on them to keep personal and financial detail safe as we gamble.
Is the Curaçao license safe?
While the relaxed regulatory requirements of the license open for shady and blacklisted casinos to operate, it also opens for legitimate ones to do so as well.
This is especially true for Indian online casinos looking to cater to desi players gambling from India, a greatly unregulated market when it comes to online gameplay.
In other words, real money online casinos with a Curaçao license continue to remain safe for Bharat players to enjoy.