2024‘s Guide to Costa Rica Casinos
With the growing uncertainty in Curaçao, many operators are relocating their businesses to Costa Rica. This page provides a comprehensive overview of the current licensing landscape in Costa Rica, its benefits for crypto casinos, and highlights the best Costa Rica casinos.
Best Costa Rica Casinos in Canada
| Wagering requirements | 40x bonus |
| 40x free spins winnings | |
| Minimum deposit | 20 USDT |
| Maximum bet | No maximum bet restriction |
| Bonus validity | 30 days to wager |
- The bonus will be given in installments depending on the wager done.
- Press the “Credit To Balance” button to use funds from the bonus,
- Free spins are added as a set of 25 free spins per day for 4 days.
- Slots contribute 100%. Table games and live dealer games do NOT contribute.
| Wagering requirements | 40x deposit + bonus |
| Minimum deposit | None |
| Maximum bet | 210 μBTC |
| Bonus validity | 7 days |
- Bonus amount rewarded after wagering requirement is met.
- Different games contribute differently to the wagering requirement.
| Wagering requirements | 40x deposit + bonus |
| Minimum deposit | None |
| Maximum bet | 180 μBTC |
| Bonus validity | 7 days |
- Bonus amount rewarded after wagering requirement is met.
- Different games contribute differently to the wagering requirement.
| 1st deposit | 100% up to 2,500 USDT |
| 2nd deposit | 50% up to 5,000 USDT |
| 3rd deposit | 50% up to 1,000 USDT |
| Wagering requirements | Vary per deposit |
| Minimum deposit | 1 USDT |
| Maximum bet | $15 |
- Wagering requirement: 40x (1st deposit), 35x (2nd deposit), 25x (3rd deposit).
- While USDT is the default, other cryptocurrencies, such as BTC, ETH, USDC and TRX, are also eligible for the bonus.
- Different games contribute differently to the wagering requirement.
Online Casinos With a Costa Rica Licence in Canada: Pros and Cons
Casino providers must comply with the Costa Rica's requirements in all relevant areas. This is also the case with Costa Rica sinos. This means the following advantages and disadvantages for you as a player:
- Crypto-friendly
- No deposit or withdrawal limits
- Mandatory KYC
- Unlimited game selection
- Live casino available
- Exciting jackpot games
- Bonuses and promotions flexibility
- There is no real licence
- Not strictly regulated and audited
- May lack responsible gambling measures
Benefits of the Costa Rica Gambling Licence
Costa Rica is renowned for its progressive approach to online gaming regulation. The country does not issue traditional gaming licences; companies can operate under a data processing licence.
This model offers several advantages:
- Cost-effective: The initial and ongoing costs are relatively low compared to other jurisdictions.
- Tax Efficiency: Costa Rica does not impose a gaming tax, allowing operators to maximize their profits.
- Low Setup Costs: Initial setup and licensing fees are minimal compared to other jurisdictions.
- Efficient Regulation: The regulatory framework is straightforward, with less bureaucratic red tape.
- Trustworthy Jurisdiction: Member of OECD, compliant with international standards, fostering trust among investors and clients.
- Reputation: Costa Rica is recognized globally as a reputable jurisdiction for online gaming.
- Stability: Costa Rica is politically stable, providing a secure environment for business operations.
- Flexibility: Operators enjoy a high degree of operational flexibility without stringent restrictions.
Our review criteria
It's essential to understand that while Costa Rica offers benefits for casino operators, the lack of a regulatory framework can attract fraudulent operators. To safeguard our readers, our casino experts conduct thorough security checks on Costa Rica-licensed casinos. We only recommend casinos that meet our strict criteria, ensuring a safe and secure gaming experience for our players.
Who Issues The Licence in Costa Rica?
In Costa Rica, there is currently no specific regulatory framework or dedicated supervising authority for gambling businesses. Instead, local government authorities, such as municipalities or city halls, oversee the general supervision of these businesses to ensure compliance with local legislation.
According to national laws, online gambling in Costa Rica is an activity where the transactions between players and operators are processed, which is where the players are located, rather than where the gambling operator is based.
This allows online gambling businesses to operate from Costa Rica, provided their transactions are not processed by Costa Rican banks, and they do not offer gambling services to Costa Rican residents.
The following legislation is applicable:
- National Anti-Money Laundering Regulations
- Unusual Transactions Act
- Counter-Terrorism Financing Regulations
- Know-Your-Customer (KYC) Policies
- The Criminal Code
- The Code of Commerce
Licensing Procedure for Casinos in Costa Rica
In Costa Rica, there is no Gambling Licence but to be able to run a gambling business from Costa Rica, companies need a Data Processing Licence. The licence is granted by the local government authority which is the municipality.
The Data Processing Licence allows operators to host servers in Costa Rica and run such activities as crypto casinos, online poker, slots, sports betting and others, as well as provide gambling software services to gambling businesses.
Costa Rica Licence Requirements
Before operators apply for a Data Processing Licence they must establish a gambling company in Costa Rica. To do that they must fulfill the following requirements:
- Corporate Structure: Establish a Costa Rican corporation (S.A. or LLC).
- Shareholders: Have at least two shareholders.
- Registered Office: Maintain a registered office in Costa Rica.
- Legal Representative: Appoint a local representative or agent to act on behalf of the company.
- Compliance: Ensure adherence to local regulations and compliance standards.
To incorporate a company, Costa Rican casino sites are required to submit the following documents:
- Notarized Articles of Incorporation
- Notarized powers of attorney for the company registration granted in front of a Costa Rican notary
- Notarized photocopies of the passports of shareholders and directors
- Certificates of authorized residence from the Costa Rican Immigration Department if the founders are foreigners
- Proof of office address in Costa Rica (office lease contract)
- Health permit from the Ministry of Health in Costa Rica
- Workers insurance policy
- Due diligence of involved persons
- Details about the appointment of a legal representative
- Objectives, details on capital, and competent senior managers of the company
- An express declaration of submission to the Costa Rican law
Costa Rican companies are obligated to comply with general legislation concerning the operations of any business since there are no gambling-specific requirements.
The general requirements for licence holders:
- Compliance audits by local government authority
- AML/CFT legislation compliance
- Know-your-customer (KYC) policy
- Must keep accounting records
- Maintain detailed records for each player
- Keep records of games (including rules, payouts and results)
- Provider RTPs and game rules to local government
Costs and Fees
The costs associated with obtaining and maintaining a Costa Rica Gaming Licence include:
- Incorporation Fees: Costs for establishing a corporation in Costa Rica.
- Office Expenses: Costs for maintaining a registered office.
- Agent Fees: Fees for the local representative or agent.
- Licensing Fees: Fees for obtaining and renewing the data processing licence.
Are Costa Rica Casinos Safe?
Costa Rica offers a stable economy and political landscape, providing a reliable environment for business operations. Local authorities ensure compliance with local laws, maintaining a safe and fair gambling environment.
The requirement for online gambling businesses to operate under a data processing licence ensures that player data is handled securely and in compliance with data protection laws.
Despite the lack of a legal framework for gambling, Costa Rica is considered a trustworthy jurisdiction. As a member of the Organization for Economic Cooperation and Development (OECD)1, Costa Rica adheres to international standards for economic practices, enhancing trust in businesses operating there.
Additionally, Costa Rica is not listed by Financial Action Task Force (FATF)2 for AML/CFT deficiencies, indicating robust anti-money laundering measures. This further confirms the trusted status of this jurisdiction.
The acceptance of cryptocurrencies by casinos adds an extra layer of security and transparency in financial transactions, benefiting players who prefer digital currencies.
Overall, while Costa Rica's licensing process might lack stringent regulations, but its stable environment, international compliance, and robust anti-money laundering measures make it a trustworthy option for online casino players.
Game Selection
While various other gambling jurisdictions are known require a separate licence for different casino games, Costa Rica makes it clear that there will be no restrictions in this area. Costa Rica casinos can therefore offer an all-encompassing coverage of online casino games with slots, progressive jackpots, live casino and crypto games.
Payment Methods at Costa Rican Casinos
What is particularly important for us is that cryptocurrency is permitted for gambling business based in Costa Rica.
Note on FIAT payments
It's important to note that the lack of a regulatory framework and licence in Costa Rica prevents gambling companies from opening merchant accounts and partnering with conventional payment processors for transactions like credit cards. Costa Rican banks do not permit unregulated gambling companies to open accounts. However, if you aim to establish a crypto-based gambling business, which is a growing trend in online gaming, Costa Rica may be a viable option.
Dispute Resolution
Because Costa Rica does not provide special licensing requirements for online casinos, there are no inherent safeguards for players who play at an online casino registered in Costa Rica. This lack of regulation means that players may find it challenging to resolve disputes directly with Costa Rican authorities, as there is no government department specifically designed for online gaming issues.
If you encounter an issue with an online casino that cannot be resolved directly, it is advisable to seek assistance from third-party affiliates. Many reputable online casinos have their own customer support and dispute-resolution processes in place.
If you encounter an issue with an online casino that cannot be resolved directly, it is advisable to seek assistance from third-party affiliates. Our casino top list can also help guide you to safe online casinos licensed in Costa Rica.
Conclusion
A Costa Rica Gaming Licence offers a cost-effective and reputable solution for online gaming operators. With low setup costs, tax efficiency, and a stable regulatory environment, Costa Rica is an attractive jurisdiction for gaming businesses. By meeting the requirements and following the application process, operators can establish a successful gaming business in Costa Rica.
FAQs
No, Costa Rica does not issue traditional gaming licences. Instead, online gambling businesses operate under a data processing licence.
Costa Rica casinos offer advantages like cryptocurrency acceptance, no deposit or withdrawal limits, and a wide selection of games. However, players should exercise caution and choose reputable casinos.
Costa Rica online casinos offer a wide range of games, including slots, progressive jackpots, live casino games, and crypto games, with no restrictions on game selection.
Due to the lack of a regulatory framework, responsible gambling measures may vary. Players should monitor their gaming behavior and set personal limits to ensure responsible gambling.
If you encounter issues that cannot be resolved directly with the casino, seek assistance from third-party affiliates. Many reputable casinos also have customer support and dispute resolution processes in place.
Sources
- Organisation for Economic Co-operation and Development (OECD). "OECD member Costa Rica". Accessed on 07.07.2024. https://www.oecd.org/en/countries/costa-rica.html.
- Financial Action Task Force (FATF). "Costa Rica". Accessed on 07.07.2024. https://www.fatf-gafi.org/en/countries/detail/Costa-Rica.html.
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