A Curacao license, like the one at VulkanBet Casino, is one of the most desired gambling licenses. It comes from the Government of Curacao, and it allows a game developer or an online casino operator to offer services in various jurisdictions.
Curacao is an island in the Dutch Caribbean, which a lot of people know as the Netherlands Antilles. It is one of the oldest establishments that grant e-gaming licenses. They also regulate the institutions that they issued licenses to.
Advantages of a Curacao License
Curacao has favourable tax laws, and this is why many gambling operators prefer to get a license from this institution. The licensing process is fast, and more importantly, it is not expensive compared to others like the UK Gambling Commission. The tax that an operator has to pay is only 2% of the net profits.
Another thing that makes Curacao a great license source is that it does not put a lot of pressure on the applicants. The barrier to entry is low, and operators of casinos simply need money and proof of their legitimacy to be able to get a license.
The fee to get a master gambling license from the Government of Curacao is about $34,000 USD. The set-up fee is paid differently, and this costs $5,600 USD. The set-up fee is paid per month for the first two years of the operation. Once the first two years are over, the gambling facility can re-negotiate the fees with the Government of Curacao.
What is a master license? It is a kind of license that allows a gambling facility to grant a sub-license to other entities. However, this power also comes with responsibility. If you grant a sub-license, you are responsible for the actions of the company that received it from you.
Today, there are many companies that hold a master license. What do they do? They offer gambling packages to companies that want to enter the gambling market. You pay the fees, and then they will set-up the casino for you. They will also take care of your license and the hosting service, and all others.
The beauty of a Curacao license is that you only need one type of license to operate different types of gambling games. You no longer need a separate license to offer blackjack and or a separate one to offer a sportsbook. All in all, what you have is a license to operate all types of games.
It is also easy to get through the hoops of applying for a license. If you get a license from other gambling commissions, you will need hundreds of thousands of dollars. The processes and laws are also too complicated that you need to hire lawyers to get it done.
Disadvantages of a Curacao License
One thing you may find sour if you apply is that the license does not mean a lot. Although Curacao gives you a license, it does not allow you to operate in many countries in the same way that you can if you have a license from the UKGC.
Also, many casinos that have a license from Curacao have a bad reputation. They can suddenly close or leave the winners hanging, or even not pay their winnings. This happens quite often because Curacao issues licenses so easily. Also, Curacao does not really intervene in the disputes between players and gambling operators. They do not mediate to solve problems.
If you have been active in the gambling casino for quite a while, you know that a Curacao license does not really mean much. The gambling operator is legit, but the Government of Curacao is not an entity that you can rely on. If you see gambling institutions with a Curacao license, check the users’ comments on the casino trustworthiness before risking your money.