Curaçao – the Caribbean’s gambling gateway
When it comes to online gambling licences, Curaçao is a name that comes up time and time again. This tiny island got its foot in the door of the global gambling industry in the 1990s, and has remained a key player ever since. But what makes this unlikely Caribbean island so special?
At Slot Gods, we like to explore how the interconnected global industry impacts players. Here, we’ll be looking at how Curaçao became the gambling hub that it is today, examine its slightly turbulent history, and explain how activities in Curaçao have consequences more widely.
An introduction to Curaçao
Although part of the Kingdom of the Netherlands, Curaçao is situated in the southern Caribbean Sea, just off the coast of Venezuela. With the islands of Aruba and Bonaire, it forms part of the Dutch Caribbean. Dutch influence on the island is still strong.
Curaçao has a population of around 160,000. The capital, Willemstad, is home to a unique but appealing combination of classically Caribbean white sand beaches and turquoise waters, surrounding quintessential Dutch architecture.
Spanish explorers in the 15th century dubbed Curaçao "the useless island" for agricultural reasons, as well as its lack of precious metals. However, it didn't take long for Curaçao to prove itself to be anything but useless.
The Dutch colonised the island in 1634, and it became a centre of trade for the Dutch empire. It was later occupied by the British, but ultimately returned to Dutch rule. This conflicted and mixed history has helped to make Curaçao a vibrant, culturally diverse place.
Official languages include Dutch, Papiamentu and English, with many also speaking Spanish. The island exhibits influences from Dutch, Caribbean, Latin American and African cultures.
Curaçao remains as important as ever to The Netherlands, partly thanks to oil being discovered nearby in 1914. Curaçao is now the site of a valuable refinery. The island became autonomous in 2010, and is now officially known as the Country of Curaçao.
In addition to oil refining, central industries include tourism and online services, especially those relating to gambling.
Curaçao and gambling
Having been a part of various empires during the last 500 years, Curaçao is a varied place. As the Spanish, Dutch and British colonists settled on the island, they each brought with them cultural artifacts and traditions, including different forms of gambling.
The Dutch West India Company would have brought with it lotteries and other games, whereas other cultures introduced dice and card games. In some areas of the Caribbean, betting on cockfighting was, and still is, a favourite pastime. Traditional African influences would have introduced games that utilised accessible items like shells and seeds, often with ritual significance as well as entertainment value.
Curaçao’s Gaming Control Board
In 1999, in response to online gambling starting to take the world by storm, the Curaçao Gaming Control Board (CGCB) was formed. This special regulatory body oversaw the issuing of licences for international use, as well as the local gambling industry.
The licensing system involved granting master licences to a small number of businesses, which could then sub-license them to other businesses. This system served the island well for a long time, and it’s thanks to this that Curaçao really flourished as a gambling licensing hub.
However, although it’s no longer the case, CGCB licences were once known to be among the easiest to get. For some, this gave Curaçao a bad name, and the CGCB became favoured by operators who wanted to launch casino brands as quickly as possible, and with minimal resistance.
These factors, combined with pressure to either tighten regulations or face conflict with international regulators, led to a significant change.
A new era: The Curaçao Gaming Authority
Gone are the days when licences from Curaçao were associated with higher-risk casinos and potentially shady operations. Since 2023, the regulator has been distancing itself from anything that might justify accusations of leniency, and has firmly established itself as one of the most rigorous regulators in the industry.
The main reasons for the reform were to renew Curaçao’s licensing reputation, and to ensure that the CGCB’s way of doing things didn’t allow for criminal activities. The new system also increased the licensing revenues received by the local government. These had previously been paid to the master licence-holders.
All previous master licences have now expired, and new applicants face tougher reviews and more stringent processes. There have been recent efforts to de-offshorise operations, and licence holders are now required to have an actual economic presence in Curaçao.
There were a few lingering suggestions that the CGCB’s reform was subject to corruption and fraud, but the regulator hit back, remained strong, and successfully refuted these. The Curaçao Gaming Control Board has now been largely replaced by the Curaçao Gaming Authority (CGA), which issues licences that are becoming highly regarded around the globe. The former still exists, but only to govern land-based gambling.
Key industry players in Curaçao
There are several types of organisations responsible for making Curaçao a gambling hub. As new regulations come into play, the network of gambling-related businesses based in Curaçao is expected to grow.
The regulator
Following the reform of recent years, the Curaçao Gaming Authority is now all about transparency and compliance with international standards, helping it to boost the value and status of its licences.
In a few short years, the CGA has introduced a new system with different licences for business-to-business and business-to-consumer companies, as well as new anti-money laundering regulations. Additionally, it now grants public access to licensing information in an effort to encourage accountability and transparency.
Operators
Many Curaçao-based operators have extensive international reach. While the numbers have fluctuated as a result of shifting licensing requirements, these licences are held by some of the biggest and most successful operators in the world. In addition to licences, operators are drawn to the local tax incentives, which include 0% corporate income tax and just 2% of the tax from the profits of online gambling businesses.
Many of the biggest and best operators around hold Curaçao Gaming Authority licences. These include Dama N.V. (SlotLords, 7Bit), N1 Interactive Ltd (Slothunter), SkyGrow (Justbit) and Versus Odds B.V (Wolfy Casino, Stupid Casino). Each of these has impressed our reviewers multiple times.
Developers
Unlike other hubs like Malta and Gibraltar, Curaçao is not home to a large number of developers. The reason for this is that, until recently, companies could hold a licence without needing to be physically present in the country. However, now that operators are encouraged to have an economic presence in Curaçao, it seems likely that developers may set up there too. In time, Curaçao may even find itself competing with Malta and Gibraltar for a bigger bite of the global industry.
Land-based & more
Despite its small population, Curaçao sustains an impressive local land-based gambling industry, mostly propped up by the steady flow of tourists drawn to its sun-soaked sandy beaches. The island is home to several licensed brick-and-mortar casinos, including Carnaval Casino and Princess Casino. These contribute to the local economy, as well as to Curaçao’s reputation as a gambling hub.
Summary
From a colonial foothold once called “the useless island” to an autonomous country with economic heft and international influence, Curaçao has carved out its place in the global gambling industry.
The situation in Curaçao has changed a lot over the years, but especially recently. Much of the new Curaçao Gaming Authority’s system didn’t properly come into play until the end of 2024, so it’s too soon to assess the results in any detail.
However, regulators around the world are likely to agree that reform was the right move. These recent changes, and the formation of the CGA, should secure Curaçao’s reputation as a reliable gambling industry hub and licensing power.