In his latest analysis, iGaming industry consultant Ron Mendelson, Fast Offshore, explores the rise in popularity of the Anjouan iGaming license and delves into its potential to challenge Curacao’s longstanding dominance in this field.
Curacao has been a leader in the iGaming sector for years, renowned for its favorable regulations and cost-effective licensing options. Yet recent uncertainties and changes surrounding Curacao’s regulatory framework have spurred operators to explore alternative destinations. Among them, Anjouan has emerged as a promising option, poised to challenge Curacao’s dominance in the iGaming licensing arena. Fast Offshore has been following Anjouan’s trajectory for quite some time and is helping operators get to grips with the application process. Let’s find out more.
The rise of Curacao
Curacao has long been a favoured choice for obtaining iGaming licenses, offering low costs, expedited processing times, and a regulatory approach that allows operators a significant degree of freedom. Since its inception, Curacao has seen many operators seeking its licensing services. However, recent changes in the regulatory landscape have introduced uncertainty, prompting many operators to reconsider their options.
The evolution of Curacao’s iGaming licensing
In response to mounting concerns regarding the integrity of its licensing system, Curacao authorities have embarked on significant reforms. The introduction of the National Ordinance for Games of Chance (LOK) marked a pivotal moment, empowering the Curacao Gaming Control Board (GCB) to issue direct licenses to operators. This shift streamlines the licensing process, providing operators with a more straightforward pathway to regulatory approval and enhancing oversight mechanisms.
Furthermore, the LOK strongly emphasises compliance with international standards, particularly in anti-money laundering (AML) and know-your-customer (KYC) policies. While these changes signify progress for Curacao’s gaming industry, ongoing parliamentary processes have left many licensees seeking alternative options.
Benefits of Curacao license
The Curacao license offers numerous benefits for operators aiming to venture into the iGaming industry. Firstly, Curacao boasts an established reputation in the iGaming sector, providing operators with stability and reliability. This reputation attracts players and builds trust, which is essential for long-term success.
Moreover, recent reforms in Curacao’s licensing system aim to enhance credibility and regulatory oversight. This instils greater confidence among operators and players, creating a more transparent and trustworthy gaming environment.
Cost-effectiveness is another significant advantage of the Curacao license. Despite its established reputation and recent changes, Curacao remains a relatively low-cost option for obtaining an iGaming license, making it financially feasible for startups and established operators.
Furthermore, Curacao offers favourable tax rates for licensed operators, allowing them to maximise profits and reinvest in their businesses. Compared to other jurisdictions, the efficient setup process enables operators to start their operations promptly, and low-end ongoing maintenance costs keep profit margins broad.
Overall, the Curacao license provides operators credibility, affordability, efficiency, and market access, making it an attractive option for those looking to establish a foothold in the dynamic iGaming industry.
The emergence of Anjouan
Once a lesser-known jurisdiction, Anjouan has recently gained traction as a viable alternative to Curacao. Efforts to streamline the licensing process have positioned Anjouan as a cost-effective, efficient, and transparent destination for businesses of every size. Operators, both startups and established entities, are increasingly drawn to Anjouan for its low costs, swift setup times, and favourable tax environment. Moreover, Anjouan’s reputation for trustworthiness, stability, and accommodating regulatory authorities make it an appealing choice for operators seeking reliable licensing arrangements.
Benefits of an Anjouan license
Anjouan offers several advantages to operators seeking iGaming licenses. These include the lowest costs in the world, rapid setup times, and zero taxes. The jurisdiction’s regulatory framework adopts a hands-off approach, allowing operators to maintain autonomy while ensuring compliance with essential regulations. Stringent rules for player and operator protection and easy ongoing maintenance requirements instil confidence in the gaming ecosystem.
Additionally, Anjouan authorities are known for their pro-business stance, creating an environment conducive to innovation in blockchain, crypto, VR, esports, Web3, and more sectors. The Anjouan iGaming license accommodates cryptocurrency gambling companies, tapping into the growing market for digital currencies and expanding operators’ payment options.
Fast Offshore
As the iGaming landscape continues to evolve and grow, Anjouan positions itself as a valid challenger to Curacao’s dominance. With its benefits and regulatory framework, Anjouan offers operators a compelling alternative. Whether considering Curacao, Anjouan, or another jurisdiction, operators must carefully evaluate their options and seek expert guidance to navigate the licensing process effectively. At Fast Offshore, we understand the importance of choosing the proper licensing jurisdiction for your iGaming business. Our team offers expert advice and custom-made packages or off-the-shelf alternatives to suit your needs. Contact us today to discover how we can help you secure the ideal license for your needs.
Original article: https://www.yogonet.com/international/noticias/2024/04/05/71610-can-the-anjouan-igaming-license-challenge-curacaos-dominance
