Tiny Dutch island of Curacao is in a great economic problem due to endangered economic activity during this lockdown. Financial troubles are in a great rise, and this little island is under the financial mercy of the Netherlands. A change in the Curacao gambling licensing is going to affect the gambling business, which is executed worldwide.
Three main demands can be found regarding this new rule, and those are increased pricing, player targeting prevention and the increased inspection and the oversight. These regulations have really made it tougher to get the license for the operators who are very new and executing their trades from the developed countries.
Economic Assistance Package
The great benefits Curacao gets it is situated under the Government of the Kingdom of The Netherlands but does not get the restrictions to provide the betting license with the EU laws. It is a beautiful Caribbean island which has the same facilities as the mainland.
Its financial sector is mainly based on tourism. But due to the spread of the coronavirus, its economic development is totally in decline. This economic shut down has forced it to get help from the mainland.
Because of this assistance, the mainland of the territory will be in great infringement. But it is not forced with the laws to coincide with the standards of the European Union. This rule has included restrictions in the unauthorized services in gambling and banking. They aim to ensure more trust in Curacao based gambling companies. All the business there will also be taken gradually under this law enforcement.
Effects in the Local Market
The effects will be gradually in the local market of the countries which are connected with Curacao in the online gambling sectors across the world.
The country like Australia gets secured with licensing from Curacao for its gambling licensing is going to face a bigger problem for their online gambling sites. Besides, the mainland of Netherland and Spain will get affected with this too. Spain is in the mix with its financial services and gambling operators. Researchers say Spain and Australia will be the main sufferer for this gambling licensing law enforcement on Curacao.