The lockdowns and the diminished economic activity cause financial troubles for the Caribbean’s tiny Dutch island. To save economic stability, a deal has made with the Netherlands and the agreement forced to change the Curacao license. Worldwide online gambling will get affected by this forced change in Curacao license.
Curacao license will be more similar to the expectations of the EU because the overseas sister country demands three essential things, these are:
- For master, licenses increased the pricing
- Player targeting prevention
- Increased inspection and oversight
Especially for the developing nations new operators, the license will somewhat be harder to obtain. The permit itself will become more valuable through this.
Economic Assistant Package
As the curacao island is inside the Kingdom of the Netherlands, it is a benefitting fact for many and is considered a tax haven. The island is within the EU, but the EU restrictions and laws are not applicable for it.
Moreover, this Caribbean island is very picturesque, which belongs to the same standard as the mainland. But fortunately, then Amsterdam or the Hague, it has much fewer gloomy days.
On the tourism and financial sector and in the excellent part of Venezuela’s oil refinement it depends on, but in 2020 all these halted to a reasonable degree. And the island, by this halt, forced to ask assistance from the mainland.
To the territory’s autonomy, the assistance isn’t infringing, and it’s reasonably lax. But, to coincide with the standard of the EU, it forced some laws, but in the Netherlands, the picture is different.
Restrictions in gambling, banking and service provision included in these rules can be seen as destructive. Curacao-based companies aim to place more trust while they will constrain business a bit.
Influencing Other Local Markets
Globally, the local markets will get affected by rules change. Especially those that are associated with the island in the online gambling sector and the financial industry.
A lot of gambling in Australia secured with the Curacao license, and in the world, Australia has the biggest per capita in terms of gamblers.
Similarly, the central Netherlands and Spain will be affected. Spain has a mix of financial services and gambling operators. Moreover, it ties between the Spanish and the Curacao residence.