Costa Rica License: Casino and gambling operators have different licensing methods available. Each regulator provides requirements, however the biggest one is reputation, which provides greater security for users.
Online gaming licenses allow casinos to build a good reputation. In this way, you have the possibility to strengthen your brand, get more users and stand out in relation to those platforms that offer inappropriate treatment or carry out abusive actions.
In this context, two of these licenses have drawn a lot of attention due to the ease of obtaining them. These are the licenses for Curaçaoand Costa Rica, but while they are affordable, there are differences, advantages and disadvantages. Let’s check them out:
Costa Rica License vs Curacao License
Curaçao is one of the nations where legal gaming is legal, whether online or physical. It has been more than two decades developing and expanding the online gambling industry and today it has great relevance to the economy of the island located in the Caribbean Sea.
Curaçao eGaming is one of the gambling regulatory bodies. It is one of the most traditional in the world, with a very simple set of laws for companies wishing to obtain a license.
Currently, the entity provides only one type of license, but it allows the casino to operate with gambling, online betting, online lotteries, sports betting and exchanges.
Just create a company in the territory and follow all the steps to obtain the license.
The great advantage here is that companies like eGaming Curaçao help throughout the acquisition process, providing consultancy, informing you of all the steps, assisting in the opening of the offshore, among other necessary procedures for obtaining the license.
Costa Rica License: Is It Really a License?
Contrary to the map of licenses for the exploitation of gambling is Costa Rica, which is highly sought after by companies that want to operate in the segment, but do not want to carry out many steps.
It turns out that Costa Rican laws are very lax when it comes to licensing online games. In general, operators do not need to prepare all documentation to request the document.
To obtain the license, operators must only provide the data requested by government agencies, fill in a registration form made available by the Costa Rican Tax Authority and wait a few days. If approved, you will be required to pay the required fees. After payment, the company is already officially registered under the government of Costa Rica.
Despite the facility, residents of the country are prohibited from engaging in any form of online gambling. Therefore, operators need to ensure that Costa Ricans and foreigners residing in the country are blocked from accessing any game or bet.
Costa Rica vs Curaçao: Which one to choose?
To answer this question, we will list some advantages and disadvantages of each license.
Starting with Costa Rica, whose main disadvantage is precisely how the license works. In theory, the operators are the main beneficiaries, as the entire structure allows them to operate legally in Costa Rica and, therefore, anyone in the world can play.
In other words, it is not a gaming license, as casinos are banned in the country. It is a data processing license and betting operators use it to offer betting games.
Although the document allows the company to act as a gaming and betting player, some serious companies such as game providers and payment intermediaries may refuse to offer their solutions, systems and services.
Furthermore, this license only protects the companies and not the users who spend money on the casino and betting sites. This means that if players face any legal or financial problems with these operators, they will have to turn to third-party authorities and not the Costa Rican government.
Costa Rica License: What are the risks?
The Costa Rica license is a cheaper license, so many operators prefer it. Documentation and requirements are lower when compared to Curaçao.
What they don’t know is that Costa Rica is not a party to the Hague Convention, this means that legalizing corporate documentation becomes more complicated and is often not accepted on the first attempt.
It is a license that does not have the same prestige as that of Curaçao, precisely because of these limitations.
The Curaçao license, on the other hand, has more prestige, since the way of obtaining it requires a little more from the operators. The intention is to give more security to both parties: company and users, and as a consequence, give more notoriety to the document.
Other relevant points are the possibility of cooperation with global game providers, among other indisputable advantages. In addition, a company licensed in Curaçao has more credibility than one licensed in Costa Rica.