Online gaming hubs of Curacao have tightened their rules and regulations regarding Curacao to battle against terrorism and money laundering. Major gambling companies of this little island are going to face great risk for this announcement.
We all know that most of the online betting has taken their betting license from Curacao. For the past few years, the authority of Curacao was constantly getting international pressure to regulate their gaming procedures online more strictly. But, it was being taken lightly.
Recent, Netherland based financial package has made the island-bound to the mainland more strictly as they are suffering financially due to the Covid-19. The tourism system has met its dead end, and this was considered the main source of living for the island people.
Netherland has agreed to take the concrete action against the operators who are providing illegal online betting services to the countries which are not listed according to the license.
Curacao license holders are paying 2% of their profit as the corporate tax and getting a master license to conduct their business operation. They are giving $134,000 of US dollars annually, and the new regulation may increase their tax rate by the time.
The law measures are supported by the government of the Dutch country too. The new regulatory board will conduct its operation from March 2021. The operators who are relying on the Curacao license are in under great pressure as their future can become uncertain because of this decision of the authority. It is not a secret that shady practices of the business are getting so attractive to the mafias.
With the execution of the new regulation, half of the organizations will find themselves with tough choices. Previously the betting regulations of this island was made keeping the soft touch so that the casino industry gets the heaven in this little island. The financial improvement was also in their goal. Experts say the new regime will work for the safety of the gamers as they will be ensured secured transaction with the real identities of the betting companies online. This initiative will help the companies to make online gaming more popular.