Gibraltar was one of the first regions to license online gambling sites all they way back in 1998. These days it’s recognized as one of the premier hubs for online gambling and plays host to numerous online betting companies. It is one of the most widely recognised and also one of the more regulated gambling jurisdictions to be found anywhere in the world. This is mainly due to it’s reputation for ensuring all regulatory practises are strictly adhered to.
Pre 2005, all the licensing and industry regulations were handled by the Gibraltar Regulatory Authority or ‘GRA’. In 2005, legislative framework revision led to the ‘Gambling Act of 2005’ and the GRA’s gambling section then merged with the Gambling Division of the Government of Gibraltar, which to this day is responsible for the issuance of gambling licenses. This jurisdiction is also white listed by the UK Gambling Commission, which means online operators with licenses from Gibraltar can promote to, and accept any UK players.
The Gibraltar Licensing Authority and the Gambling Commissioner
Any form of gambling operation located in Gibraltar needs to be licensed under the 2005 Gambling Act or ‘The Act’. Internet or online gambling operations require a license that is issued from the Gibraltar Licensing Authority, under guidance from the Gambling Commissioner. The Gambling Commissioner ensures that licensees run their business in strict accordance with the terms and conditions of each of their licenses and also in accordance with the special code of practice that is issued by the Gambling Commissioner.
Obtaining a license from the Gibraltar Licensing Authority
In order to obtain any type of gambling license from Gibraltar, operators must be able to prove their previous history with regards to gambling or online gambling operations and must be in good financial shape business wise. Only then will the Gibraltar Licensing Authority consider them for an applicable gambling license. If any operator is found to have violated any of the terms and conditions they are bound to or have a bad track record when it comes to previous operations, then the Gibraltar Licensing Authority has the right to refuse a license and even revoke any or all licenses that have already been issued as they see fit.
The different licenses Issued by the Gibraltar Licensing Authority
The Gibraltar Licensing Authority can issue several different types of licenses to online gambling operators depending on the type of service or function they provide. They include bookmaker’s licenses, gaming machine licenses, lottery licenses, operator’s licenses and also remote gaming licenses.
Licensees are therefor legally bound to adhere to the guidelines and regulations set out in these agreements. This includes any applicable restrictions on advertising, ensuring strict adherence to fraud and money laundering policies and requirements, availability of accounts and official audits, applicable gaming taxes plus operating and testing standards. The Gambling Commissioner is then bound to ensure that licensees operate within the framework set out in the 2005 Gambling Act and also in accordance with the terms and conditions of each applicable license.