The Gambling Act 2005 binds all Gibraltar Licensed Casinos and their operations. According to the Act, the Gibraltar Licensing Authority is responsible for remote gambling licenses, including for telephone and internet betting. The Licensing Authority has traditionally only considered licensing those companies with a proven history of gambling in other jurisdictions. Be that as it may, the jurisdiction will also consider the licensing of sufficiently-funded start-ups and expanding operations proposing to relocate wholly or partly from other jurisdictions. As a result, applicants with the intention of entering emerging non-EU markets are expected to have a clear business plan with a source of legitimate funding.
Prior to the Act, Gibraltar has been offering gambling licenses since 1998. However, after its implementation, the Gibraltar Regulatory Authority (GRA) is responsible for managing these licenses. With the spreading of the years, GRA has proven to be a trustworthy authority. For that reason, it has earned a reputation of strong and unbiased authority, offering a perfect combination of low tax, no VAT charges, and an abundance of workers.
The Gibraltar Regulatory Authority only offers one license that covers all activities for one year. This annual license runs at a cost of £2000, with a gaming tax rate of 1% capped at £425,000 up to £42.5m. Due to these pleasant financial figures, Gibraltar has been capable of maintaining stringent requirements for giving licenses while at the same time making sure that each player is well-protected and satisfied.
Currently, there the iGaming Industry is filled with online casino operators. All of them do their best in order to host the most exciting promotional campaign or just the most eye-catching welcome bonus. However, when choosing an online casino, you should never merely look at what it has to offer in terms of bonuses. There are many other factors that should be taken into account in order for you to have a positive gaming experience. One of these is casino licensing. Should a particular brand happens to obtain a license from a reputable jurisdiction such as Gibraltar, you can rest assured that it is completely reliable.
Gibraltar Regulatory Authority is renowned for regulating a great number of online casino operators. Below you can familiarize yourself with some of the best performing brands in the iGaming Industry, holding a license from the GRA. However, bear in mind that this list is not conclusive, meaning you can play at various different operators.
888 Casino is one of the world’s premier online casino destinations. As pioneers in the online gaming industry and part of the prestigious 888holdings Group, 888 Casino opened its doors to players back in 1997. Since then, more than 25 million members have enjoyed the amazing variety the brand offers and its award-winning game library. When playing with 888 Casino, you are playing with the best. Holding a multitude of prizes under its best, such as the 2015 Gaming Intelligence Award for Best Casino Operator in 2015, many punters make up their mind to invest in the casino. Likewise, the brand is secure and completely trustworthy, making it a good option for you if you are searching for a new online casino.
777 Casino is yet another online casino regulated by the GRA. Being an online casino with a difference, its name only continues to gain credibility as time goes on and as the casino continues to advance to new and radical heights. 777 Casino is regulated by the most prestigious governing bodies around the globe, as well, which is a further indication of how reliable the brand is. Become a part of 777 Casino’s virtual community and start winning today. Amazing promotional campaigns on a regular basis and second-to-none gaming experience are waiting for you. Make sure you do not miss the opportunity to benefit from the brand as you will regret it.
Gibraltar is a British Overseas Territory, which you will be fascinated to explore. There are many interesting facts about the country which will provoke your interest. For instance, Gibraltar has the only wild monkey population in the whole of Europe. Around 300 of the furry troublemakers roam the Gibraltar Nature Reserve and occasionally pinch food from tourists’ rucksacks. In terms of size, Gibraltar has a titchy territory, but still many people want to pay a visit to the country. Actually, even the Nazis wanted it, however, their operation “Felix” to nab Gibraltar was unsuccessful. Another fascinating fact about Gibraltar is that the country has its own language- Llanito, which is a bizarre mix of Andalusian Spanish and English, along with spatterings of Portuguese and Maltese words. Being heaven for tourists, Gibraltar has a World Heritage Site. Make sure you visit the Gorham’s Cave when you visit Gibraltar. Generally speaking, a beautiful country which should be included in every tourist’s travel diary.
Gibraltar has always been a strategic location for offshore operators. The peninsula has been giving away gaming licenses since 1998. However, with the enactment of the Gambling Act 2005, new regulations have been brought in on the territory of Gibraltar. In fact, the Act is the primary legislation governing all gambling operations in Gibraltar. The official regulatory authority that ensures these laws are enforced is the Gambling Commissioner. Moreover, each year, a code of conduct is issued by the Gibraltar Gambling Commissioner in order to guide companies in the gambling industry. In terms of licenses, they are granted by the Gibraltar Licensing Authority.
The 2008 financial crisis has had a negative impact on almost every business around the world. However, it seems that Gibraltar-based gambling has not been so heavily affected, as it continues to flourish. The most plausible reason for this economy boom at the time was the combination of favorable taxation vat exemption and the tremendous team of dedicated workers. Even since Gibraltar has proven to be a jurisdiction each online casino should strive to gain a license from.
There are numerous benefits of playing at a Gibraltar-licensed casino. We have created a shortlist with the most favorable aspects of playing in such an operator. Even though it is not exhaustive, as write a book for positive aspects of playing at a Gibraltar-licensed casino, we did our best to make the most convincing summary.
The first point to bear in mind is that the gambling sites in Gibraltar as completely trustworthy. This means that you can write your personal details and no have second thought on whether they will be shared with third parties. Having built a good reputation over the years, Gibraltar-licensed online casinos will manage to protect you to a full extent. Additionally, their favorable tax rates, making the authority even more appealing to new online casino operators. Besides, there are no fees for application, which will undoubtedly attract a great number of operators worldwide.
What is more, as the GRA takes its job really seriously, rest assured that it will regularly investigate for potential frauds. Both the Gambling Commissioner and the Licensing Authority have the power to investigate and make a background check of the applicant to ensure that it completely satisfies all the necessary requirements for the Gibraltar Gambling license. This means that under no circumstances will you ever see an online casino to be a scam if it holds a license from the GRA.
GRA is really passionate in order to prevent fraud in the iGaming Industry. As a result, there is an abundance of measures the country takes in order to ensure a safe and fair environment.
Responsible Gambling is one of the foundations of the GRA. As a result, all license holders need to offer self-exclusion tools recommended by industry bodies like GamCare. What is more, the Gibraltar Gambling Authority is famous for its game fairness. Each gambling site, governed by GRA, must ensure that it is tested by an independent audit company approved by the GRA. These include names such as eCOGRA and iTech Labs.
In terms of money laundering, Gibraltar-licensed casino operators should follow a strict code of conduct in order to ensure that such money laundering does not happen. All online casinos must be in the list with the Anti-Money Laundering Code of Practice. This document falls in line with the 4th EU Anti-Money Laundering Directive.
As we have already discovered Gibraltar can do many things in order to provide players with a fair and secure gaming environment. Above, we have discussed some of the measures the country takes to ensure this pleasant experience, so make sure you read them carefully. However, the list is not conclusive. The GRA can do much more towards your online casino. For instance, the authority will protect players’ funds at all costs and ensure game fairness. Minors are too protected, as the authority takes all steps to ensure age verification is applicable.
The current gambling climate perfectly shows that players are fully protected when playing at Gibraltar-licensed online casino. This is because the authority does its best in order to ensure the protection of each player’s funds. Customer transaction records should be made transparent to Commissioner. They should be kept for 5 years and storage techniques must be in line with national security standards. Additionally, licensees must also provide a yearly audit of the accounts.
What is more, gambling sites must have their games and products tested by an independent audit company approved by the GRA. This further proves the professionalism of the authority and its intention no game to be manipulated.
Lastly, always make sure you play at a regulated online casino operator. In order to be sure that the brand holds a license, always look for a stamp, usually at the bottom, on the main page. If the brand has such a stamp, this means that it has a license, and therefore that it abides by the law.
For further information on the issue and administration of gambling licenses please contact:
Gambling Division H.M Government of Gibraltar Europort Suite 812 & 813 GX11 1AA Gibraltar
TEL: 00350 20064142
FAX: 00350 20064150
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