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Implementing sustainability is the requirement for the aid from the Dutch government for Curacao.
Curacao has succumbed to the pressure from the Netherlands and agreed to tighten the gambling licensing rules. Last week, the Dutch government announced that it had reached an agreement with its Curacao counterparts regarding “measures and structural reforms” intended to make the constituent country of the Kingdom of the Netherlands “financially, economically and administratively. WILLEMSTAD - tether.bet, the world’s most exclusive sportsbook and casino, is pleased to confirm that it has accepted history’s biggest political bet. $ 5,000,000 On Donald Trump @ 2.85. The Bettor’s Choice! AllSports247 offers players a betting experience like no other. Enjoy our exciting online casino games, the intensity of the live in-play, wager on majestic horse racing, or bet on an endless array of sports betting options keeping you in the action 365 days a year.
As part of a new financial bailout deal with Dutch authorities, look for an overhaul of Curacao’s iGaming sector with a tightening of controls.
New Regime
The development establishes a timeline for the installation of a regulatory authority in the Dutch Caribbean island’s government move towards independent jurisdiction of March 2021.
Greater Relief Package
The new controls come as part a greater economic agreement for mainland relief recently concluded between the Dutch government and Curacao necessitated by the pandemic financial crisis.
Payments
With Covid having struck down the bulk of Curacao’s tourist traffic and receipts, Dutch authorities agreed to a relief package. The liquidity support consists of two installments already arrived since April, with a third one due before the end of 2020.
Conditions
To receive the aid, Curacao is required to restructure its jurisdiction by adapting administrative as well as economic measures designed to build resistance to more economic hardships and disruptions—as an extension of the Dutch authorities quest for tangible changes to hedge against more losses.
The New Economy
The resulting belt-tightening measures will reduce the Curacao economy by some 30% in exchange for the Landspakket pact for short-term recovery, with many of the reforms encompassing Curacao’s previously expanding iGaming sector—culminating in the installation of a new gambling regulator circa March of next year.
Scaling Down Activity
This will scale down popular Curacao sportsbook and casino activity, where the island has developed a reputation for hosting flamboyant wagers.
Implementing More Structure
The new regime will have until September 2021 to enforce licensing guidelines—a task which appears prodigious at first glance with most operators in Curacao having limited licensing permits at best, hampering their ability to expand their product offerings.
The new more rigid guidelines are offered in an environment with a reputation for relatively lax standards in its approach to licensing.
The New Authority
Curacao will introduce a series of mechanisms that request contributions from registered businesses, with the Curacao Gaming Control Board (GCB) taking responsibility for Curacao’s iGaming industry.
Outlook
Just like anywhere, actively implementing and enforcing consumer protection guidelines should turn out to positively impact the Curacao market over the long term and increase sustainability after the growing pains of integration. See also Netherlands and Norway Play the Opening Match of UEFA European Women’s ChampionshipWorld Cup Updates: Mexico Prepares for Netherlands PowerhouseNetherlands and Malta Strike Landmark Multi-National Regulation AgreementNetherlands Legislation to Favour Online OperatorsWSOP Packages for Under a Buck
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