Gibraltar is a picturesque small island situated just off the mainland of Spain which is mainly popular as a remote gambling hub. The Gibraltar Gambling Commission (GGC) governs all gambling practices for betting operators based in this Mediterranean island. The license requirements in Gibraltar are very strict and are rated in the top 3 regulators in the world, together with The UK Gambling Commission and Malta Gambling Authority.
Gibraltar is a self-governing British colony where the gambling industry is so prominent, that 12% of the residents are employed in one way or other. The Government of Gibraltar is committed to the legal management and administration of this lucrative business. Through the Gambling Act of 2005, the Gibraltar Gambling Commission (previously known as Gibraltar Regulation Authority) is the main authority body for licensing and regulating the gambling operations on the island.
Gibraltar Commission Gambling regulation and Licensing
Nowadays, when more and more technology is added to gambling systems, much stricter control and monitoring the industry is necessary. To meet world-class standards are formed regulating bodies such as the Gibraltar Gambling Commission. These jurisdictions appeared with the main purpose of protecting players and standardizing casino operations.
Firstly, the Gibraltar GC require that online casinos may not offer their services to under-aged players or to any jurisdiction in which gambling may be against the law. The licensed casinos are required to verify a customer's full name, residential address and date of birth. Customers who do not have a problem providing the required information are allowed easily to play at Gibraltar casinos.
On the other hand, Gibraltar licensing has some specific measures to deal with problem and vulnerable gambling. Any casino which operates with a license of Gibraltar GC must provide on its home page links to sites connected with helping people who are gamblers in risk. Gibraltar casinos must also offer self-exclusion services to their users. Regarding the testing requirements of the software, the GGC uses the services of independent testing companies whose certifications are only accepted.
When it comes to the regulation of licensed companies Gibraltar GC do not give much in the form of guidelines. Being not very restrictive they leave the companies pretty much to do whatever they like. For example, the Commission requires that an operator have a sum of money necessary to secure player deposits and potential payouts. At the same time, no specific regulations or guidelines are given to ensure that that happens. Operators are given the right to operate in accordance with the agreements (such as advertised guidelines) they have with their customers.
Advantages for Operators
Many casinos are seeking to get a license despite the strict requirements the Gibraltar jurisdiction imposes. A serious factor for this are the many advantages of having such a license:
- Mark of prestige: A GGC licensed casino is almost always preferred by customers over any other without a license. A license is a symbol of better status and a mark of superiority. It means higher level of security offered to users.
- Access to top markets: To become a holder of a Gibraltar Gambling Commission license means to get better access to a network of top markets. Despite its heavy taxes the UK market is the most desired.
- Friendly taxation: It is true that consumption taxes for casinos servicing the UK were increased to 21% in October 2019, but the other income is only taxed at 0.15%. This extremely friendly taxation levels allow operators to keep a massive percentage of their revenues.
Advantages for Players
- Safe and secure gaming: The Gibraltar Gambling Commission requires from their licensees to offer the best software and high quality of servicing to their customers. Every casino needs to have all the measures that ensure the optimum protection for problem gamblers and against minors playing.
- Massive game content: Any player at GGC licensed casinos will be offered a huge number of variable games from leading developers, such as Microgaming, NetEnt, Evolution Gaming, Play'n Go and many more.
- Guaranteed payouts: With GGC licensed casinos players' money will be not put at risk. Casinos are required to have available funds allowing to pay out players' wins quickly.
- Clear adverts: All the GGC casinos must advertise their services in a completely understandable way. Adverts must come with fair and clear terms and conditions, without any misleading elements. Clients must be sure that what they see is what they get.
The online casinos holders of certificates issued by the Gibraltar Gambling Commission offer high quality of services that are constantly provided for their consumers. They are available to be played both on mobile and desktop devices. Online casinos licensed through Gibraltar are perfectly legitimate and provide safe and secure environment for excellent gambling experiences with fair bonuses and promotions and plenty of fun.
