Currently, operators can apply for different licenses that correspond to the provided services – casino, lottery, sports betting, etc. Most companies strive to obtain a remote gambling license, though.
Gibraltar Gambling Authorities
Gibraltar has been issuing gambling licenses since 1998, but the Gambling Act 2005 brought a lot of legislative changes. The regulations in the Act are now the primary piece of legislation.
The Gibraltar Commissioner is the regulatory authority that oversees if the licensees adhere to the established regulations (website). The Commissioner issues an annual Code of Conduct that serves as a guideline for the operators. The Gibraltar Licensing Authority issues the licenses.
The Gibraltar Betting and Gaming Association, appointed by the Commissioner, also has a say in the legislative matters.
How to Get a Gibraltar License?
- To obtain a Gibraltar license, applicants must meet a lot of requirements, including but not limited to:
- Prove their financial stability
- Be compliant with the established regulations
- Have an account at a Gibraltar bank
- Have their services tested for fairness
Once a license is issued, it remains valid for the next 5 years. During that time, operators need to pay a tax on their gross profit. The higher the turnover, the higher the tax, but in all cases, Gibraltar taxes are favourable to operators.
Gibraltar Licensed Casinos – Can We Trust Them?
The short answer is yes. Gibraltar’s gambling laws were modelled after the British gambling regulation. Players can rely on authorities’ protection and hefty fines await operators that neglect the following:
- Responsible gambling and advertising – Gibraltar licensees must allow every player to set deposit limits or suspend their account for a certain period of time. Licensees must not send unwanted marketing materials urging self-excluded players to deposit funds.
- Underage gambling – Gibraltar licensed casinos take serious measures to protect minors, and companies that allow underage customers to gamble have to pay solid fines
- Players’ protection – operators keep track of players’ transactions, and make sure they are compliant with the AML standards
How Can I Submit a Complaint?
If a player feels unfairly treated by a casino that is a Gibraltar licensee, they can lodge a complaint and the authorities will investigate the matter. If a violation is founded, the Commissioner has the right to suspend or terminate the license.
Brexit and Gibraltar Gambling Licenses. Now What?
In 2016, the United Kingdom decided to leave the EU. The process, known as Brexit, has been interfering with nearly every aspect of the economy. At the time of writing, the UK is trying to soften the blow Brexit would have on the country’s affairs with the EU members. As for the Gibraltar licensees, the border closures and the post-Brexit tax increase might make them consider leaving Gibraltar and applying for a Malta gambling license.