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Ron Mendelson Gaming GuruCuraçao vs Isle of Man vs Anjouan: The Brutal Truth2 October 2025
By Ron Mendelson The iGaming industry is a high-stakes arena where choosing the proper licensing jurisdiction can make or break a startup. With the global online gaming market projected to surpass $100 billion in 2025, operators are under pressure to select a license that balances speed, compliance, and support. Three jurisdictions often dominate the conversation: Curaçao, the Isle of Man, and Anjouan. Each has its strengths, but only one truly delivers the trifecta of speed, robust compliance, and startup-friendly support. This article from Fast Offshore delves into the harsh reality of these jurisdictions, examining their regulatory frameworks, licensing processes, and suitability for iGaming startups. Historical Context and Regulatory Evolution  Curacao has been a staple in iGaming since 1996. Curaçao, a Caribbean island within the Kingdom of the Netherlands, has been a staple in iGaming since 1996, when it began issuing licenses under the National Ordinance on Offshore Games of Hazard (NOOGH). Historically, its master and sub-license system offered a low-cost, low-regulation entry point, making it a go-to for startups. However, 2023 marked a turning point with the introduction of the National Ordinance on Games of Chance (LOK), effective December 2024. The Curaçao Gaming Authority (CGA) replaced the Curaçao Gaming Control Board, eliminating sub-licenses and imposing stricter compliance requirements, including enhanced anti-money laundering (AML), know-your-customer (KYC), and responsible gaming policies. This shift aims to align Curaçao with Tier-1 jurisdictions like Malta, but it has raised barriers for new entrants. Meanwhile, it is unlikely to enjoy the same prestige as Malta, and has put off some operators who seek a more reputable, or stable jurisdiction. Isle of Man: The Tier-1 Titan The Isle of Man, a self-governing British Crown Dependency, is a Tier-1 jurisdiction renowned for its stringent regulations and global credibility. Since introducing the Online Gambling Regulation Act in 2001, the Isle of Man Gambling Supervision Commission has built a reputation for robust oversight, attracting established operators aiming for markets like the UK and EU. Its framework emphasizes player protection, fair gaming, and financial stability, but the complex application process and high compliance demands can be daunting for startups. The Isle of Man is often called the “Bentley of iGaming licenses” for its prestige, but it comes with a steep learning curve. Anjouan: The Emerging Contender Anjouan, a small island in the Comoros archipelago, entered the iGaming scene in 2005 with the Anjouan Betting and Gaming Board (ABGB). Initially overshadowed by Curaçao, Anjouan has gained traction since 2023, capitalizing on Curaçao’s regulatory tightening and following its own regulatory streamlining. Managed by the Anjouan Offshore Finance Authority (AOFA) and Anjouan Licensing Services Inc. (ALSI) since May 2023, Anjouan offers a cost-effective, streamlined license with zero gaming revenue tax. Its framework, while less recognized than Curaçao or the Isle of Man, supports startups targeting emerging markets in Africa, Asia, and Latin America. Licensing Speed: Time to Market Matters For iGaming startups, speed is critical to capitalize on market opportunities. Anjouan leads the pack, with licenses issued in as little as just a few days if you partner with Fast Offshore and provided documentation is complete. This rapid turnaround is due to a streamlined process requiring company formation, basic due diligence, and compliance with AML and KYC policies. Curaçao, under the new LOK framework, takes around 6–8 weeks, a significant increase from its pre-2023 timeline, as operators must navigate stricter audits and local presence requirements. The Isle of Man is the slowest, with a 3–4 month approval process due to its rigorous due diligence, including detailed business plans, financial statements, and background checks on all key personnel. For startups needing to launch quickly, Anjouan’s agility is unmatched, while the Isle of Man’s lengthy process can stifle momentum. Compliance: Balancing Regulation and Flexibility Compliance is the backbone of a credible iGaming operation, ensuring player trust and access to financial services. The Isle of Man sets the gold standard with its Tier-1 status, enforcing stringent AML, KYC, and responsible gaming measures. Operators must maintain separate game records, undergo regular audits, and comply with data protection standards, making it ideal for those targeting highly regulated markets. However, this comes at the cost of complexity, which can overwhelm startups with limited resources. Curaçao’s new LOK framework has elevated its compliance standards, aligning with international norms to shed its “lenient” reputation. Operators must now implement robust AML and KYC policies, submit to ongoing audits, and ensure game fairness through certified Random Number Generators. While this enhances credibility, the increased scrutiny and requirement for a local presence make it less accessible for startups compared to its pre-2023 model. Anjouan strikes a balance, requiring AML, KYC, and responsible gaming policies but with fewer bureaucratic hurdles. This lighter regulatory touch appeals to startups but may raise concerns in markets prioritizing prestige, as Anjouan’s reputation is still growing. Support for Startups: Accessibility and Practicality Startups need jurisdictions that offer practical support, from simplified processes to financial incentives. Anjouan excels here, as it is the lowest-cost license on the market, and there is no tax on gross gaming revenue. Its crypto-friendly framework supports modern payment methods, and the single license covers all iGaming activities, reducing complexity. Anjouan’s focus on emerging markets and partnerships with firms like Fast Offshore provides tailored guidance, making it a great place for startups testing new platforms. Curaçao remains startup-friendly but has lost ground due to its regulatory overhaul. Its single license still covers a wide range of activities, and tax benefits (no revenue tax outside Curaçao) are appealing. However, the increased compliance burden and need for a local director or representative add costs and complexity, deterring early-stage operators. The Isle of Man, while offering white-label opportunities and access to top-tier payment providers, is less accommodating for startups. Its high compliance costs and lengthy process favor established operators with deeper pockets. The 1.5% GGR tax (up to £20 million) and requirement for a local bank account further strain startup budgets. The Brutal Truth: Which Jurisdiction Wins? The brutal truth is that Anjouan is the standout for iGaming startups in 2025, offering unmatched speed, manageable compliance, and tailored support. Its quick licensing process allows startups to hit the market quickly, while its cost-effective structure and zero GGR tax maximize profitability. The crypto-friendly framework and single license covering all gaming activities simplify operations, and partnerships with experienced consultants ensure compliance without overwhelming new entrants. While its reputation is less established than Curaçao or the Isle of Man, Anjouan’s focus on emerging markets and regulatory flexibility makes it a strategic choice for startups prioritizing agility. The truth is, if you are a startup or a smaller entity, Anjouan is the best choice for you. Our team at Fast Offshore can explain the process to you and assist you in getting started. From application to post licensing assistance and all other corporate matters, we are here to help. To find out more about licensing and Anjouan, just contact a member of Fast Offshore’s team today.
Curaçao vs Isle of Man vs Anjouan: The Brutal Truth
is republished from iGamingNews.com.
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