The Dutch-Caribbean island of Curacao has been talked about a lot in the eGaming industry in recent times, mainly due to the upcoming changes to its online gambling licensing regime. Imminent increases in regulatory requirements have unsettled many operators currently holding a sub-licence in the country and countless firms have started the search for “the next Curacao” as a result. On this quest, a fair few seem to have comes across another small island, called Anjouan. Before you now get your cheque book out and prepare to update your company address, it’s probably worth having a closer look at this little-known jurisdiction and its alternatives.

One of the three major islands that make up the Union of the Comoros, few people had heard of Anjouan before the small island nation decided to try and cash in on Curacao’s troubles. Currently advertising itself as being the latest no frills licensing solution, the temptation to move there must be strong for some, but the apparent low pricing and one-fee-covers-all model comes with some serious caveats.

For starters, political stability is anything but guaranteed on an archipelago that has seen more than twenty coups or attempted coups since independence from France in the 1970s. Human rights issues such as restrictions on freedom of movement, press, and religion should also worry anyone thinking of doing business there, as should the fact that Comoros ranked 167th among the 180 countries on Transparency International’s 2022 Corruption Perceptions Index.

Anyone willing to ignore all these aspects in the search of a quick and cheap licence should keep in mind that the document on your office wall is just one piece of a huge and ever stricter regulatory puzzle. The hard truth is that it doesn’t matter what countries like Curacao, Anjouan, or Kahnawake see and sell themselves as if the wider business world doesn’t agree with them.

Ultimately, these jurisdictions of convenience are subject to the same underlying rules and restrictions that anyone who handles any money these days must adhere to. Many of these rules aren’t even eGaming related but come from the world of AML, CFT, and general compliance. If your suppliers like PSPs, banks and game providers weren’t fully comfortable with Curacao, the chances they will warm up to Anjouan any time soon are virtually zero.

Which is where so-called Tier 1 jurisdictions come into play. These highly trusted business centres can provide a stable foundation for any online gambling business. Higher costs for the initial setup and licensing process are quickly offset by lower long-term expenditure thanks to better access to things like banking and more favourable terms with everyone from payment service providers to games suppliers. And that’s before we even look at the reputational side of things. The hard truth is that our industry is inevitably moving towards more and more regulation.

Which is where so-called Tier 1 jurisdictions come into play. These highly trusted business centres can provide a stable foundation for any online gambling business. Higher costs for the initial setup and licensing process are quickly offset by lower long-term expenditure thanks to better access to things like banking and more favourable terms with everyone from payment service providers to games suppliers. And that’s before we even look at the reputational side of things. The hard truth is that our industry is inevitably moving towards more and more regulation.

Sooner or later, you may find yourself wanting to apply for one of the growing number of national gambling licences. Being able to show a willingness to comply with Tier 1 operating rules and having a track record of operating to a high regulatory standard might just make all the difference when it comes to demonstrating to a government that your company is the right partner.

It will come as no surprise to you that the eGaming jurisdiction of choice for us is the Isle of Man and has been for the last 25 years. As one of the true pioneers of eGaming licensing here and indeed the world, we have yet to see another country that can match the Isle of Man in political stability, business friendliness, and forward-thinking gambling regulations. With just one licence to cover all verticals and currencies (including crypto), doing the right thing and placing your online casino or sportsbook here is not only the logical thing to do but also easier and cheaper than you may think. We are proud to have helped some of the biggest names in the world obtain their Isle of Man licence and the beginning of your journey to a sustainable and profitable future is just one email away.

Isle of Man eGaming from MannBenham is here for you

We are here for you to talk through what you need, with years of experience and knowledge. Should you wish advice on doing business on the Isle of Man or just wish to understand your options, please feel free to speak with us on +44 (0)1624 639350 or email us at [email protected].

Article “Are you considering an Anjouan Gambling Licence? ” posted on 18 August 2023 | Written by Frank Schuengel