Is Rainbet Legal In The US? Crypto Casino Regulations

With the regulator now offering two distinct types of certificates – B2B and B2C – it’s worth delving into the specific activities each will encompass. The Curacao gaming licence has traditionally held several advantages over other systems. Its foremost appeal was the relative ease and affordability of obtaining, making Curacao synonymous with a straightforward start in the industry. Dating back to 1993, Curacao issued the National Offshore Gambling Decree, which initiated gambling regulation. The licence issuance started three years after the law’s release, marking Curacao’s foray into the promising gambling field.

The crucial values underneath the demands are legality, responsibility and integrity. But first, let’s take into consideration which possible disadvantages you face and which gambling activities are covered in case of choosing it. Due to its Curaçao license and US gambling laws, Rainbet cannot legally offer services to users in all 50 states.

We have carefully reviewed the 47-page regulatory document (download) to highlight the most important points for operators, suppliers, and investors.

• The consultation with the regulatory entities is required for getting the complete list of the documents needed due to constant changes and individual cases.
• This also includes verification of compliance with responsible gambling regulations.
• In other words, regulation was weak and with very little control over sub-licensed betting sites.
• In situations where there is a higher risk of money laundering or terrorism financing, enhanced due diligence (EDD) measures must be applied.

Get your new Curacao gaming license through us and enjoy the best price and service.

In other words, regulation was weak and with very little control over sub-licensed betting sites. Existing licensees have six months to transition to the new system and can request a further six-month extension, subject to certain conditions. Operators with applications already in progress do not need to make adjustments. However, new applicants must follow the updated licensing process and closely follow the CGA’s instructions to ensure a seamless process. In a move geared towards ensuring honest competition within the gambling industry, the authorities of Curacao implemented more stringent licensing regulations on September 1. Recognizing the need for comprehensive reforms, the Curacao Gambling Regulatory Authority has assumed responsibility for licensing both B2B- B2C-businesses.

Financial Risks

As long as they can be local or international and cover various types of iGaming activities, the decision should be taken while considering all criteria possible. One of the critical challenges casinos face is avoiding the risk of tipping off customers during the CDD process. Tipping off occurs when a customer becomes aware that they are under scrutiny, which can compromise ongoing investigations. Suppose you want to declare your business reliable and curacao casino compliant with all mandatory requirements. In that case, Lawrange will help with the paperwork and application for a Curaçao gambling license.

Curaçao offers some of the most favorable tax conditions for gambling businesses. Low tax rates and the absence of VAT allow operators to increase profits and utilize resources for development. Opening a bank account for gambling business and cooperation with the payment platforms will provide you with various payment solutions suitable for high-risk businesses which gambling is. The Curacao gambling license is one of the most sought-after gambling solutions for particular reasons. In this article we will unveil the most important aspects of the subject and explain how to get Curacao gaming license in detail. When starting a gambling business, each entrepreneur analyses the pros and cons of specific licensing options.

Once the forms are complete and all paperwork is in place, the candidates should upload the required documents to the portal. With any transition comes a phase of uncertainty, where outcomes are often unpredictable. However, in Curacao’s case, there are already clear foundational principles and the overall direction for the jurisdiction’s future.

The enhanced process is now set to thoroughly investigate and assess stakeholders and the prospective company. To secure the licence and avoid unnecessary expenses, operators must diligently provide all required data upfront. With nearly two decades of experience, EM Group specializes in guiding businesses through Curaçao’s evolving iGaming regulations. Our local team offers personalized solutions to meet the LOK’s compliance, licensing, and operational requirements, ensuring a seamless transition into the new framework. Curaçao’s gaming sector has undergone a significant transformation with the introduction of the National Ordinance on Games of Chance (LOK), effective from December 24, 2024. This new law overhauls the licensing system, reinforces compliance measures, and sets higher standards for operational requirements in the iGaming industry.

So suppliers of services for the gambling industry representatives are its focus group. If you are a software seller or a game developer, this kind of the Curacao license suits you best. Keep your business compliant and secure with KYCAID’s comprehensive KYC solutions, offering advanced database screening and monitoring to navigate sanctions and manage PEP risks. For politically exposed persons (PEPs), casinos must take extra precautions, as these individuals are considered high-risk due to their potential involvement in corruption or other illicit activities. PEPs can be identified through internet searches or by consulting databases and reports on corruption risks.

This will increase the burden on companies to find qualified people and will require restructuring within organizations. Given the new regulations, all staff must be officially employed in Curaçao, which may increase administrative costs and complicate the recruitment process. These platforms offer casino-style gaming with cryptocurrency options while remaining legal in most states (except Washington, Nevada, Idaho, and Michigan in some cases). Rainbet is a crypto casino and sportsbook operated by RBGAMING N.V., licensed and authorized by the Government of Curaçao under Master License #365/JAZ. The platform allows users to gamble using cryptocurrencies like Bitcoin, Ethereum, and other digital assets. These cost increases make Curaçao less accessible for startups and small operators, who may now seek alternative jurisdictions such as Anjouan or Malta.

Regulatory shifts also offer opportunities for innovation in the field (e.g., data protection). This means that Curaçao gaming license changes can expand the market for operators and investors. Curaçao has always been and still is an island of unlimited gaming opportunities in the online gambling industry due to its attractive licensing. Legal US gambling sites hold licenses from state gaming commissions, comply with consumer protection laws, follow responsible gambling requirements, and provide legal recourse if disputes arise.

New application forms that conform with the new law shall be published shortly and the application process shall reopen under the regulations of the new law. If all the criteria that have been applied to the business have been fully met, then the company is granted a gambling license. The process can take around six months and depends on the complexity of the application and some other factors. The remoteness of the island from the mainland can create some difficulties in attracting qualified staff. Although many professionals are highly trained, the labor market cannot always meet the needs of the gambling industry.

This aids in making informed decisions about establishing partnerships with software and payment providers and more. Before this change, Curaçao operated under the National Ordinance on Offshore Games of Hazard (LBH), where operators didn’t apply directly for a license. Instead, a few big companies held “master licenses” and gave out sub-licenses to other operators.

The offshore crypto casino industry exists in a legal gray area for US players. While operators face clear legal prohibitions, individual players occupy murkier territory. However, sweepstakes casinos like Stake.us operate legally in most states and accept cryptocurrency. Additionally, licensed casinos in regulated states are increasingly accepting crypto payments. Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006 UIGEA prohibits businesses from knowingly accepting payments in connection with unlawful internet gambling.

Even though the application requires professional knowledge, effort and funds, obtaining it creates a path of a company’s future growth, safety and market performance extension. The procedure is quite complex but with the help of experts it becomes just a challenge to be faced. It will take some time to complete the process but it will bring you great reputation and trust of customers. When conducting CDD, casinos must identify the player, verify their identity, and assess the risk profile of the customer. This process involves collecting personal details such as full name, permanent residential address, date of birth, nationality, and identity number.