Curaçao Passes Major Gambling Update

Big news for the gaming world! Curaçao’s parliament has officially approved a new law called the National Ordinance on Games of Chance (LOK), bringing some much-needed updates to the island’s gambling rules. Here’s what it all means:

Changes at a Glance:

• The Curaçao Gaming Authority (CGA) will replace the old regulator (GCB) and introduce stricter oversight.
• New rules focus on player protection, anti-money laundering, and responsible gaming practices.
• Both operators and suppliers will now face higher compliance standards, helping improve Curaçao’s reputation in the global gaming industry.

Why Is This a Big Deal?

For years, Curaçao’s gambling laws were seen as outdated and too relaxed. Licenses were handed out under a “master license” system, which had little oversight. This led to criticism and pressure from international regulators.

But now, with the passing of the LOK (by a vote of 13 to 6), Curaçao is making big moves to modernize its gaming sector and regain global trust. Aideen Shortt, a consultant for the Curaçao Gaming Control Board, called it “a great day for our industry.”

What’s Changing?

1. A New Regulator: The CGA will take over as the main licensing body, ensuring fair play and stricter rules for everyone.
2. Stronger Compliance: Operators will need to follow strict anti-money laundering rules and promote responsible gambling.
3. Transition for Current License Holders: Existing licensees will be smoothly transitioned to the new system through a grandfathering process.
4. New Applicants: Future operators must set up a physical office in Curaçao and pass thorough background checks.

Why This Matters

These updates are to boost Curaçao’s reputation as a trusted gambling hub. Players can feel safer, operators will gain credibility, and the island’s gaming industry will be better positioned on the global stage.

This isn’t just a win for Curaçao. It’s a win for everyone in online gaming!

Too Late for BC.GAME

The passage of the LOK, while a significant step forward for Curaçao’s gaming industry, comes too late for platforms like BC.GAME, which recently pulled out of the jurisdiction. The popular crypto casino, once a major player in Curaçao’s licensed gaming ecosystem, cited ongoing uncertainty and the outdated regulatory framework as key reasons for its departure.

BC.GAME’s decision reflects the frustrations of operators who struggled under the old system’s lack of clear oversight and global credibility. While the reforms promise a brighter future, the delay in implementing modern regulations has already cost Curaçao the trust and business of influential operators like BC.GAME.

Go to BC.GameGo to BC.Game

Relevant news