Curacao Set to Tighten Online Gambling Supervision and Regulation

Discussion in 'Gambling News' started by Marina, Dec 21, 2018.

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  1. Marina

    Marina Administrator Staff Member

    The Government of Curacao Set to Tighten Online Gambling Supervision and Regulation

    There are myriad of online casinos that proudly display of being licensed and regulated by the Government of Curacao. But did you know that those casinos actually operate unhindered for years, since no one actually oversees their gambling operations?

    However, things are about to get changed, since the existing GCB (Gaming Control Board) which regulates brick-and-mortar casinos, will now take over online casino supervision as well.

    The shadowy trade in sub-licenses has given thousands of online casinos the chance to operate with no supervision whatsoever for years, and these online casinos are operated by suspicious companies actually located in exotic destinations whose operations run in Curacao. This ease of obtaining a Curacao e-Gaming sublicense has been continuously criticized by other countries’ regulators. There are actually local companies that promise to deliver a Curacao online license in as little as 48 hours.

    Why Now?

    The new duties of the Gaming Control Board are a result of the transfer of responsibility for gambling regulation from the Ministry of Justice to the Ministry of Finance. The GCB will, from now on, oversee all games of chance offered on Curacao and from the island. The Board will serve as a uniform regulator of the games of chance.

    Based on conservative estimates, the online gambling sector in Curacao brings billions in play. However, this whopping amount of money is not from gambling only. It is actually suspected that there is a direct link with human being trafficking, money laundering, financing of terrorism and many other serious international crimes.

    Curacao is a constituent country of the Kingdom of Netherlands, along with Sint Maarten and Aruba. Legislators in the Netherlands have long complained about these online casino sites licensed by Curacao that offer Dutch players their gambling services without the Dutch gambling regulator's approval.

    This is the reason why the Dutch Parliament raised their voice, the Second Chamber of the parliament in particular. The MP Ronald van Raak says he’s been worried for years that this industry has not been terminated. In fact, the Dutch Gaming Authority even worries that these unregulated and illegal online casinos are targeting the Dutch market from Willemstad. The Dutch Gaming Authority actually has imposed a massive fine to one of those online operators, but as usual, the operator is untraceable and the website’s name was changed in order to continue operating.

    As you may as well know by now, international warnings are being given continuously for sites operating under Curacao remote gambling license. This, in fact, has given the country a bad name, since many providers feel as if they only pay a minimum deposit percentage as prize money. Even Curacao's Minister of Finance, Kenneth Gijsbertha raised his concerns, saying these Curacao-licensed online casinos were seriously detracting from the international image of Curacao. So, basically, it was about time for the Gaming Control Board to put an end to it. Gijsbertha claims the GCB will, henceforth, target those illegal providers that pose a threat to society, since local residents may develop a problem gambling behaviour. He also said that these illegal casinos constitute unfair competition to legally operating online casino operators.

    Van Raak’s Opinions on the Matter

    The Dutch MP Van Raak, who heard the news that Curacao will tackle worldwide illegal gambling from the Curacao Island, said that he took the good news with pleasure, since this unregulated gambling causes huge damage on the entire world, but on the island itself as well. He additionally mentioned Gerrit Sshotte’s name, the former prime minister who was bribed by the gambling boss Francesco Corallo of Italian descent. For this reason, Van Raak strongly agrees with the idea that the Gaming Control Board must do something about it and clear the island’s name.

    Van Raak believes that the multi-billion online gambling industry does not affect ordinary people that live on Curacao, but poses a threat to the island’s political stability. He claims to have asked the government of Curacao dozens of questions about the gambling industry and politics, so he hopes that their intention to control the illegal practices of the present, will also answer each and every one of his questions. He is of opinion that the sale of licenses and sublicenses, as well as all other illegal practices, should be terminated once and for all.

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