Gibraltar gambling casinos
Gibraltar gambling casinos
Estimated reading time 3 minutes
Gibraltar has one of the best reputations when it comes to gaming jurisdictions and online casino operators licensed by the Gibraltar Licensing Authority are considered to be the best. We take a look at their practices and review the history behind the licensing jurisdiction and later detail online casinos which are regulated by Gibraltar.
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While Gibraltar is a British Overseas Territory on the south coast of Spain it is self-governing and has a developed a great reputation for its regulatory practices, including when it comes to online casinos.
About Gibraltar online gaming licensing
In 1998, Gibraltar started to license gambling sites, with the Gibraltar Regulatory Authority (GRA) initially holding the responsibility. However, the GRA merged into the Gambling Division of the Government of Gibraltar, which is now responsible for the licensing and regulation of online casino sites.
The Gambling Division runs under the Gambling Act 2005 which is a legislative framework for online gambling in Gibraltar and is considered to uphold high standards when it comes to the licensing and regulation of these operations.
With Gibraltar licensing many online gambling sites in the region, such as 32Red, and software providers, including Net Entertainment, NYX and Odobo, it has become whitelisted by the UK Gambling Commission (another advanced gaming jurisdiction). This means online casinos licensed in Gibraltar can now advertise their services to UK players.
Gibraltar Licensing Authority state on their website they will “only consider licensing blue chip companies with a proven track record in gambling, licensed in a reputable jurisdiction, of good financial standing and with a realistic business plan. Licences are generally difficult to obtain.”
This shows the high standards the licensing jurisdiction upholds meaning sites displaying the Gibraltar logo have been confirmed to have passed these criterions.
Gibraltar Licensing Authority application process
At the time of writing, Gibraltar licenses over 30 online gambling sites with many operating under the one banner – including 32Red (the online casino, bingo site, bookmaker, etc.).
There are seven licenses available to apply for including;
- Gaming operator license
- Remote gambling license
- Gaming machine license
- Bookmaker license
- Betting intermediary license
- Lottery promoter license
- Pools promoter license
Additionally, there are a number of conditions an applicant must pass in order to receive and maintain a license, including;
- Location – the applicant must be located and managed in Gibraltar
- Financial Accountability – the applicant can only have bank accounts in Gibraltar, unless they request otherwise, and each year the applicant must present audited accounts of every single financial transaction. They must also prove they can pay operating expenses and player payouts
- Software testing – all software needs to be testing by an independent auditing organisation to confirm fairness. Organisations which Gibraltar approves includes eCOGRA, iTech Labs, GLI Test Labs Canada, SQS India Infosystems, Gaming Associates, BMM Compliance, NMi Metrology & Gaming, GLI Europe, SIQ Ljubljana, and Trisigma B.V
- Responsible gaming – the applicant must request and confirm all players via date of birth and identity to ensure minors aren’t being subjected to gambling. They also must prove they can keep this information safe on behalf of the players
- Taxes – Online casino operators must pay a tax which amounts to 1% of their gross profit (minimum of 85,000 Euros, maximum of 425,000 Euros) as per the Gambling Act 2005
- Advertising – the applicant must prove they are advertising responsibly and they are marketing accurate information regarding games, prizes, and more
- Anti-Money Laundering – the applicant must prove they adhere to the Anti-Money Laundering Code of Practice as set out by the Gambling Act 2005
Once the applicant meets these conditions they must pay a fee of 2000 Euros a year to secure the license. To maintain the license, they must pay this fee and allow for an annual audit to ensure the company complies with the high standards employed by Gibraltar Licensing Authority.
Gibraltar licensed online casinos and software
As you can see, opting for an online casino licensed by Gibraltar means you are playing at a site which has passed the high standards employed by the advanced gaming jurisdiction.