Legislation update in Curacao 2024-2025
Legislation update in Curacao 2024-2025
Reasons for reform
Until 2024, Curacao's license was considered one of the most affordable and flexible, but was criticized for its low level of control over operators. The main complaints: weak protection of players, insufficient financial monitoring, and ease of entry into the market for unscrupulous operators.
The Curaçao government began licensing reform to improve reputation and meet international standards.
Key changes
1. Move from master licenses to direct licensing
Previously, the Master License + Sub-license system operated, where master licensees issued sub-licenses.
From 2024, all licenses will be issued directly by the state regulator - Curaçao Gaming Control Board (GCB).
Sub-licenses will be gradually canceled, operators need to undergo re-licensing.
2. Tightening requirements for applicants
Full verification of beneficiaries (KYC for owners).
Confirmation of financial stability and sources of capital.
No convictions of management and shareholders.
3. Increased control over player protection
Mandatory tools for responsible play (limits, self-exclusion).
More transparent bonus terms.
Requirement for prompt handling of player complaints.
4. AML/CTF (Anti-Money Laundering) Standards
Strict transaction verification procedures.
Monitoring large and suspicious transactions.
Mandatory reporting to regulatory authorities.
5. Technical requirements
Servers with data must be in approved jurisdictions.
Mandatory use of certified software.
Regular independent audits of random number generators (RNG).
Transition period
Existing sub-licenses will operate until the end of the transition period (approximately until mid-2025).
Operators need to apply for new licences at GCB.
Unfulfilled new conditions will be excluded from the market.
Implications for Australian players
Growing confidence in Curacao's license - new requirements will eliminate some of the unreliable casinos.
Reduction in the number of operators - some sites will leave the market due to the inability to pass updated checks.
Improving data security is a mandatory standard for cyber defense.
Transparency of bonuses and limits - less hidden conditions.
Stability of payments - financial verification of operators will reduce the risk of non-payments.
Potential downsides of reform
Reducing the number of bonuses with low conditions - operators will compensate for the increase in licensing costs.
Some familiar brands may disappear if they do not want to undergo re-licensing.
There may be a temporary increase in delays in payments during the transition period due to organizational changes.
How an Australian can choose a casino in 2024-2025
1. Check if the platform has applied for a new GCB license.
2. Review bonus terms and make sure they are updated with the new rules.
3. Check for responsible play tools.
4. See feedback on payments and support after the reform.
Conclusion:
Reasons for reform
Until 2024, Curacao's license was considered one of the most affordable and flexible, but was criticized for its low level of control over operators. The main complaints: weak protection of players, insufficient financial monitoring, and ease of entry into the market for unscrupulous operators.
The Curaçao government began licensing reform to improve reputation and meet international standards.
Key changes
1. Move from master licenses to direct licensing
Previously, the Master License + Sub-license system operated, where master licensees issued sub-licenses.
From 2024, all licenses will be issued directly by the state regulator - Curaçao Gaming Control Board (GCB).
Sub-licenses will be gradually canceled, operators need to undergo re-licensing.
2. Tightening requirements for applicants
Full verification of beneficiaries (KYC for owners).
Confirmation of financial stability and sources of capital.
No convictions of management and shareholders.
3. Increased control over player protection
Mandatory tools for responsible play (limits, self-exclusion).
More transparent bonus terms.
Requirement for prompt handling of player complaints.
4. AML/CTF (Anti-Money Laundering) Standards
Strict transaction verification procedures.
Monitoring large and suspicious transactions.
Mandatory reporting to regulatory authorities.
5. Technical requirements
Servers with data must be in approved jurisdictions.
Mandatory use of certified software.
Regular independent audits of random number generators (RNG).
Transition period
Existing sub-licenses will operate until the end of the transition period (approximately until mid-2025).
Operators need to apply for new licences at GCB.
Unfulfilled new conditions will be excluded from the market.
Implications for Australian players
Growing confidence in Curacao's license - new requirements will eliminate some of the unreliable casinos.
Reduction in the number of operators - some sites will leave the market due to the inability to pass updated checks.
Improving data security is a mandatory standard for cyber defense.
Transparency of bonuses and limits - less hidden conditions.
Stability of payments - financial verification of operators will reduce the risk of non-payments.
Potential downsides of reform
Reducing the number of bonuses with low conditions - operators will compensate for the increase in licensing costs.
Some familiar brands may disappear if they do not want to undergo re-licensing.
There may be a temporary increase in delays in payments during the transition period due to organizational changes.
How an Australian can choose a casino in 2024-2025
1. Check if the platform has applied for a new GCB license.
2. Review bonus terms and make sure they are updated with the new rules.
3. Check for responsible play tools.
4. See feedback on payments and support after the reform.
Conclusion:
- Curacao's license reform in 2024-2025 radically changes the market: from a simplified model with sub-licenses to centralized and strict licensing. For Australian players, this means a higher level of protection and reliability, but also a decrease in the number of available operators.
