Gibraltar Gaming Licence
- Highly reputable jurisdiction
- Unique pricing system
- Effective software testing system
- Dispute management
- Money-laundering protection
Up to a certain moment, gambling was not regulated in Gibraltar. Things changed in 2005, when the Gambling Act was released to gain control over the industry. Since then, every area of the business has been examined and fixed in case of necessity. The licences are granted by the Licensing Authority, and operators’ activity is controlled by the appointed Commissioner.
Gibraltar has earned a fine reputation in the gaming segment as it grants licence permission exclusively to the most reliable companies to run online casinos, sports betting, online poker or other gambling activities.
Requirements
The requirements for the licensee applicants include: providing vendor’s background check, proven track record of prior experience in the field of gambling business, past business practices, sound business plan and a few others.
The Gibraltar’s system of pricing is unique: no start-up fees are required. At the same time, the gaming tax varies from 1% up to £42,500,000 of annual turnover.
Similarly to other reputable jurisdictions, the gaming authorities of Gibraltar have developed software testing standards, which are represented in such tests as eCOGRA, iTech Labs etc. In total, there are 11 approved test houses.
In addition, The Gambling Commissioner’s advice to complainants was established to protect players belonging to any jurisdiction. A special form was designed for submitting complaints. In general, player’s protection issue has been taken seriously in Gibraltar. Players’ information is kept private and any case is carefully considered.
Another feature of the Gibraltar’s jurisdiction that distinguishes it from other jurisdictions is its rigid focus on financial transactions. The Anti-Money Laundering Code of Practice was specially established to ensure safe and legal transactions that correspond to Money Laundering and Proceeds Act.
If Gibraltar gambling regulations are not observed, it is possible to lose the licence agreement.
