The New Curacao Gambling Laws & Regulation 2024

The New Curacao Gambling Laws – The National Ordinance on Games of Chance, LOK, 2024

It’s essential when you are setting up your own online casino in the popular jurisdiction of Curacao, to be starting with the most suitable corporate and finance infrastructure so that you get running as soon as you get the license.

 

Through GBO’s wide network of gaming-friendly banks and payment processors, and our great expertise, we will help you through all the hurdles. We have over twelve years of experience in Curacao and other countries, and have hundreds of satisfied customers.

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    The Curacao Gaming laws and regulations

    In this article, we will explain in detail what current Curaçao gaming license regulations stipulate. You can also benefit from GBO’s great experience and expertise, to get you through the hurdles of acquiring the license and setting up your corporation and banking structure

    We have over twelve years experience in Curacao, and have hundreds of satisfied customers. The GBO team will be happy to assist you to form the most suitable gaming corporate structure and finance infrastructure, including Curacao company formation, Curacao gaming license, bank accounts for gaming business and more

    Why should you get the license from GBO?

    Hundreds of Curacao casino licenses already obtained for our customers

    GBO has 12 years in the gaming consultancy business

    Just 2-3 weeks for the complete licensing process

    We can negotiate low-cost Curaçao gaming license fees

    Smooth and simple process

    Reliable full turnkey solution

    No hassles for you

    We allocate a dedicate professional account manager to you

    We assist you with opening bank accounts & payment service providers.

    The National Ordinance on Games of Chance, LOK

    Altering Tendencies in the Online Gaming Industry
    The existing legislative framework, the origins of which can be traced back to 1909, is now obsolete. The sector’s rapid evolution necessitates a revision of the laws to bring them in line with contemporary international standards.

    In response to this demand, the government of Curacao is actively refining its gambling regulations. The objective is to ensure that they adhere to global standards and embrace a comprehensive gaming policy that encompasses all licensed gaming activities under Curacao’s jurisdiction.

    The National Ordinance on Games of Chance (LoK) is being formulated as part of this effort.

    The National Ordinance on Games of Chance is intended to serve as a comprehensive regulatory framework for all forms of gambling. It essentially establishes broad guidelines applicable to all games of chance offered in or from Curacao. Key elements of the LoK include prohibitions on illegal gambling, guidelines for issuing, suspending, and revoking licenses, provisions to promote responsible gambling, and the establishment of a new gaming authority. The LoK’s emphasis on enforcing and monitoring these directives is a crucial aspect.

    What are the new gaming laws in Curacao?

    The new gaming laws in Curacao are known as the National Ordinance for Games of Chance, Curacao’s new gambling laws, intend to drastically alter the licensing system. One of the main features is that licenses can have an unlimited number of domains, and Ultimate Beneficial Owners (UBOs) can hold multiple accounts and licenses. Master licensors will no longer be able to obtain extensions or renewals thanks to the Ministry of Finance’s facilitation of the shift from the old framework to the new one. For improved regulation and oversight, a unique digital seal policy is also presented, mandating operators to incorporate a unique token associated with every domain.

     

    Central objectives of the LoK include:

    Assuring criminal activity is deterred and combated; Protecting the interests and well-being of players; Minimizing the dangers of gambling addictions and protecting vulnerable individuals, including children;

    Maintaining Curacao’s global standing while highlighting its expertise in the i-gaming industry. The establishment of the independent Curacao Gaming Authority (CGA) is a key aspect of the LoK. The CGA’s mandate ranges from granting licenses to ensuring swift legal compliance and overseeing the sector’s regulations impartially.

    In addition, the LoK allows for individual game regulations to be enacted through national decrees. Post-LoK, the initial emphasis will be on strengthening the regulations surrounding online gaming.

    Curacao Gaming Authority

    The Curacao Gaming Authority was one of the first regulatory organizations to oversee online gambling. Since 1999, this authority located on the Caribbean island nation of Curacao has issued gambling licenses. The recent implementation of the National Ordinance on Games of Chance, also known as the LoK, represents a significant overhaul of their licensing structure. The LoK will replace the current master and sub-license system, thereby streamlining the licensing process and enhancing regulatory oversight. With the establishment of the LoK, Curacao hopes to further enhance its reputation by ensuring a more transparent, fair, and secure gambling environment for operators and players alike.

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    GBO is a market-leading Curacao Gaming license services provider

    What are Curacao gambling laws?

    The online gaming industry of Curacao has been legalized since 1993 when the National Ordinance on Offshore Games of Hazard entered into force. Online gaming licenses are issued by the Minister of Justice by national decrees. The Minister of Finance has recently been tasked with the licensing for and the supervision of the online gaming sector.

    On December 18, 2018, the Minister of Finance publicly announced the government’s intent to task the Curacao Gaming Control Board (GCB) with the regulation of the online gaming sector. On February 15, 2019, the GCB was appointed the AML/CFT supervisor for all gaming sectors operating in and from Curacao, which includes the online gaming sector.

    Curacao gaming license regulations

    The gaming regulations of the Curacao online gaming industry is licensed and regulated under the National Ordinance on Offshore Games of Hazard (Landsverordening buitengaatse hazardspelen, PB 1993, no. 63).

    How to do Curacao gaming legislation

    Providing access to gaming without a valid license in or from Curaçao is a felony. Prevention of infiltration by criminal elements, including money launderers and financiers of terrorism, is the primary goal.

    The areas controlled by the gambling legislation fall under the following main titles:

     

    Licensing This includes assessment that the ultimate beneficial owners (UBOs) are fit and proper to hold a Curacao casino or lottery license.
    Enforcement This requires compliance with casino legislation and regulation. Non-compliance can lead to fines, as well as to temporary or permanent revocation of the casino license
    Collection of License Fees GBO has 12 years experience in negotiating the bureaucracy involved in licensing in Curacao
    AML/CFT Supervision GCB issues AML/CFT regulation and guidelines, periodically performs AML/CFT compliance audits, enforces compliance, and provides AML/CFT training opportunities for the gaming sector.
    Promotion of Responsible Gaming “Responsible gaming” means minimizing the risks of gambling addiction in the Curaçao casino industry.

    GCB works together with Fundashon pa Maneho di Adikshon (FMA), the organization that is focused on combating all forms of addiction on Curaçao.

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