WILLEMSTAD – Curaçao’s online gambling industry, long criticized abroad for its lax oversight, remains one of the island’s largest sources of foreign income. A recent international study mapping offshore gambling regulators confirms what has been whispered in financial and political circles for years: Curaçao’s economy is deeply tied to the revenue generated by thousands of online betting operators registered on the island.
For decades, Curaçao positioned itself as one of the world’s earliest hubs for online gambling, granting licenses to companies serving players across the globe. The model, initially managed through so-called “master licenses” and sub-licenses, attracted operators with minimal fees, low barriers to entry, and little regulatory scrutiny.
According to the report, licensing fees and related services represent a significant stream of foreign exchange earnings for Curaçao, rivaling some of the island’s traditional industries. While precise figures are not published, experts estimate that online gambling contributes tens of millions annually to the government budget, local law firms, accountants, and IT service providers.
This heavy reliance has created a political dilemma. On one hand, Curaçao is under international pressure—from the Netherlands, the European Union, and the Financial Action Task Force (FATF)—to tighten controls, combat money laundering, and better protect players. On the other, stricter regulation risks driving operators away to less demanding jurisdictions, potentially leaving a gap in Curaçao’s public finances.
Economists warn that this dependence makes the island vulnerable to sudden policy shifts. “If reforms cause operators to relocate, Curaçao could face a sharp decline in foreign currency inflows,” one analyst noted. “The government will need to strike a careful balance between compliance and competitiveness.”
The new Curaçao Gaming Authority (CGA), tasked with replacing the outdated licensing system, is expected to play a pivotal role in ensuring that gambling revenues remain a sustainable part of the island’s economy. For now, however, the report underlines that Curaçao’s financial stability is closely bound to an industry facing global scrutiny.
