Curaçao is set to transform its online gambling landscape with a reformed licensing process, as announced by Finance Minister Javier Silvania. The new system, under the National Ordinance for Games of Chance (LOK), will differentiate between B2B and B2C licenses, introducing a more nuanced and comprehensive regulatory framework.
Curaçao takes a leap in online gambling regulation, revamping its licensing system to better accommodate the dynamic digital gaming sector.
Under the new LOK, both B2B and B2C licenses will incur similar fees, but with distinct structures. B2C licenses will require an application fee of ANG 9,000 ($5,000) and one-off due diligence fees ranging from ANG 250 to ANG 500 per individual, based on their role. Operators will also be subject to an annual fee of ANG 48,000 and a monthly fee of ANG 4,000, with an additional ANG 500 per year for each domain, boasting unlimited domain coverage.
This revamped system aims to enhance the regulatory environment for online gambling in Curaçao, ensuring greater transparency and accountability. It addresses the complexities of modern online gaming, offering a more tailored approach to licensing that benefits both operators and regulatory bodies.
Stay informed about these significant changes in Curaçao’s online gambling regulations. Whether you’re an existing operator or a new entrant, understanding the new licensing framework is crucial for seamless compliance and operation.
The current holders of master licenses will enjoy a grace period under the new system, exempt from the annual fee in the first year, with a reduced monthly fee thereafter.
The B2B licenses, while mirroring B2C in application and due diligence fees, will not incur a monthly fee, highlighting a tailored approach to different business models in the online gambling industry.
Contrasting with the existing system, where there is no distinction between B2B and B2C licenses and a limit of 40 domains per license, the new reforms signify a progressive shift in Curaçao’s regulatory stance.
The Curaçao Gaming Control Board (GCB) has launched an application process for these new licenses through a dedicated portal, welcoming registrations from both new applicants and existing sub-licensees. This move is in line with the transition to a new regulatory framework under LOK, where the newly established Curaçao Gaming Authority (CGA) will assume regulatory responsibilities.
Minister Silvania has emphasized the importance of these reforms in preventing Curaçao from being grey-listed for AML concerns. Addressing SiGMA Curaçao, he reassured operators that the objective is not disruption but a smooth transition to a more robust and compliant licensing system.
These developments in Curaçao’s online gambling sector mark a pivotal step towards enhanced regulation and AML compliance, ensuring the island’s position as a reputable and reliable jurisdiction in the global online gaming market.
SOFTSWISS Jackpot Aggregator Sees 2.6x Surge in Bets: 2023 Report
In a dynamic year for the iGaming industry, the SOFTSWISS Jackpot Aggregator has released its 2023 report, offering insights into significant trends and achievements.
Notably, the report reveals a staggering 2.6 times increase in bets participating in jackpots, shedding light on the growing appeal of these mechanics among operators and players alike.
A Year of Remarkable Growth
Throughout 2023, bets participating in jackpots experienced consistent quarterly growth, witnessing a remarkable 165% increase from January to December. By the end of the year, the total value of these bets had surged to an impressive 6.396 billion euros. Moreover, the number of jackpot campaigns witnessed a substantial growth of 3.8 times compared to the previous year, totaling 230 campaigns.
Expanding Reach and Impact
One of the standout achievements of 2023 was the expansion of the Jackpot Aggregator’s footprint. The number of brands utilizing its jackpot solution tripled within the year, culminating in over 70 active brands by year-end. This surge in adoption reflects a heightened level of market trust and interest in the product.
Introducing the Prime Jackpot Campaign
A significant milestone of 2023 was the introduction of the Prime Jackpot campaign, which debuted in Q4. This innovative feature garnered considerable attention and interest from players across various casinos. The Prime Jackpot campaign allows operators to participate in shared prize pools, ensuring that rewards are drawn from the collective pool rather than from a specific brand operator. This approach not only offers larger rewards to attract more players but also enhances player engagement and loyalty while optimizing operational costs for operators.
Insights from SOFTSWISS
Aliaksei Douhin, Head of SOFTSWISS Jackpot Aggregator, shared his insights into the year’s achievements. He emphasized the noticeable increase in clients and connected casino brands, as well as the growing volume and value of bets in jackpots. He expressed satisfaction in witnessing clients actively embracing the Jackpot Aggregator and recognizing the added value it brings to their brand operations. The solution empowers operators to provide players with enhanced gaming experiences and more enticing winnings. Client feedback is actively collected and analyzed to ensure clients have access to the most sought-after tools and mechanics.
Looking Ahead to 2024
In 2024, the SOFTSWISS Jackpot Aggregator is set to extend its reach to a wider spectrum of clients. This expansion will be guided by a customized approach, ensuring that each client can tailor the product’s capabilities to meet their specific requirements.
Meet SOFTSWISS at ICE London
The SOFTSWISS Jackpot Aggregator team will be present at ICE London from February 6th to 8th, 2024. They are ready to showcase their latest advancements and engage in discussions with existing and potential clients.
SOFTSWISS is a renowned international iGaming company that offers certified software solutions for managing gambling operations. With a dedicated team of over 2000 employees spread across Malta, Poland, and Georgia, SOFTSWISS holds multiple gaming licenses and provides comprehensive iGaming software solutions. Their diverse product portfolio includes the Online Casino Platform, the Game Aggregator featuring thousands of casino games, the Affilka affiliate platform, the Sportsbook software, and the Jackpot Aggregator. In 2013, SOFTSWISS made history by introducing the world’s first Bitcoin-optimized online casino solution.
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