A Gibraltar Online Casino License is a much-treasured possession owing to the very high business potential and the reputation of the country as a safe gaming destination with close links to the United Kingdom. The relatively low tax rates also increase its attractiveness. The licensing process is transparent and fast.
Gibraltar Online Casino and Gambling
A place land made famous by the legend of the Rock of Gibraltar, Gibraltar is an overseas territory of the United Kingdom. Located on the Iberian Peninsula near Spain and Morocco, Gibraltar has played a major role in world trade due to its strategic location which places it at a major shipping lane.
The location and climate of the country have also enabled it to emerge as a major tourist destination in the region with tourists from across Europe and Asia visiting the country. The country after a long period of political instability finally received a new Constitution in 2006 completing its transformation into a British Overseas Territory.
The location of Gibraltar and the important role of Tourism in its economy prompted the Government to look into gambling as a new source of revenue. The plan was instantly welcomed and in 2005 a new legislation was brought into force that regulated both remote gaming and onshore gaming.
A Gibraltar Gambling License, both for online gaming and offline gambling is issued by the Licensing Authority under the Act. However, the Gambling Commissioner is the primary regulatory authority entrusted with the enforcement of legislation on the subject. The Gambling Commissioner publishes a Code of Practice to enable both online and offline casinos in Gibraltar to comply with best practices. The primary legislation in the sector however still is the Gambling Act, 2005 which governs all issues from eligibility to issuance of licenses. The Gambling Commissioner also issues a ‘Generic Code’ to assist the casinos to interpret the law. For online gaming services in Gibraltar, a separate ‘Remote Technical and Operating Standards’ book is also published.
Types of Gibraltar Gambling Licenses
There are broadly seven categories of gaming licenses in Gibraltar as per the legislation:
- a bookmaker’s license
- a betting intermediary’s license
- a gaming operator’s license
- a gaming machine license
- a lottery promoter’s license
- a pools promoter’s license
- a remote gambling license
Out of these forms, the last category of Remote Gambling License is most relevant for offshore gaming operators seeking to operate from Gibraltar.
How to get a gaming license in Gibraltar
An application for a Gibraltar Online Gaming License has to be made to the Licensing Authority functioning under Gambling Division H.M Government of Gibraltar. The application has to take into consideration the following conditions:
- Good financial standing with a realistic business plan
- Compliance with the advertising guidelines.
- Adequate availability of funds to make consumer payouts
- Maintaining effective control of the business at Gibraltar at all times
- All handling of consumer funds, credit card information, etc. shall take place through banks and institutions located at Gibraltar only at all times.
- Submission of yearly returns and accounts and compliance with Companies Act, the Companies (Accounts) Act and Companies (Consolidated Accounts) Act.
- Submission Compliance with Codes of Practice and Generic Code.
Running Remote Gaming Operations in Gibraltar
The remote gaming license in Gibraltar is a nontransferable document and enables the license holder to operate betting (including pool betting) and bookmaking, gaming and lottery operations. The exact limitations on the permitted operations may be specified in the license.
Holders of an online gaming license
Holders of an online gaming license are also required to “a certificate that the integrity of any computer equipment used to facilitate the carrying on of the activities authorized under the license has been properly tested by a body.” The authorities approved to certify the licenses are specified on the official website.
The holders of a remote gambling license are required to pay a tax of 1% of their gross profit and the amount of tax is capped at a minimum of £85,000 and a maximum of £425,000.
Your path to a Gibraltar Gambling License
A Gibraltar Online Casino License is a much-treasured possession owing to the very high business potential and the reputation of the country as a safe gaming destination with close links to the United Kingdom. The relatively low tax rates also increase its attractiveness. The licensing process is transparent and fast. Empire has a team of Gaming experts well conversant with the licensing and instrument certification process, ensuring that you can get your online gambling business running in the fastest possible time. You can reach the Online Gaming License experts at Empire through our website www.empireglobal.partners and or by email at email@example.com. We offer clear written contract agreements clearly mentioning the applicable charges including the refund policy, in the unlikely event that the application is unsuccessful.