The Gibraltar Gambling Commission, formerly known as the Gibraltar Regulatory Authority, is located in South of Spain. This region is known for managing reputed gambling companies and becoming one of the biggest and most successful gambling regions. The Commission started out issuing licenses for casinos, and online sportsbook and are now known to be among the top regulatory bodies in the world. It is also trusted for its history of ethical practices. The Gibraltar Gambling Commission started issuing gaming license in 1998 and the 2005 Gambling Act has cemented their place in the eGaming industry.
Jurisdiction
Though Gibraltar falls under the British Overseas Territory, the nation is independent regarding its internal matters. The nation, however, is a member of the European Union.
Basic Information
The players can visit http://www.gibraltar.gov.gi/remotegambling/ for information. For any complaint or suggestions, you can drop a mail to gccomplaints@gibraltar.gov.gi. The team can also be contacted via phone. Their phone number is 00350 20064142.
It is necessary that the licensed company must work from Gibraltar. The Internet casinos taxed 1% of the gross profit, with a minimum of 85,000 euros and the maximum being 425,000 euros. The marketing and advertising must not target the minors nor people residing in nations where online gambling is not legal. The details about bonuses and prizes should be accurate and genuine. There should not be any misleading information.
The bank accounts of the operator must be located within Gibraltar and this cannot be changed without express permission. The operator must be able to show all audited accounts of the year and be able to show having needed capital to cover payouts and other expenses. The license fee is 2,000 euros for one year.
The operator will also need to make sure that the gaming software is tested and audited by an independent organization. BMM Compliance, SQS India Infosystems, iTech Labs, eCOGRA, NMi Metrology & Gaming, Gaming Associates, GLI Test Labs Canada, and GLI Europe are the test houses that have the Gibraltar Licensing Authority’s approval.
Some good news
All the casinos which hold a license from the Gibraltar Gambling Commission are really trustworthy since the Commission only issues the licenses to companies which provide high-quality standard operations and those which are completely reliable regarding the payouts and fairness.
The Gibraltar Gambling Commission has provided licenses to more than 20 leading online gambling companies, such as Ladbrokes, 32Red, Bwin.party, Betfair, Bet 365, Gamesys, William Hill, Victor Chandler, 888 Holdings, and Betfred. For receiving a gambling license, the applicant must meet several criteria, including fulfilling the financial obligations.
The Bottom Line
Recently, a game provider was found in violation of multiple terms of their gambling license. The Gibraltar Gambling Commission did not take any action against the involved parties which is quite disappointing. They released a statement four months after the incident and this delay have led to many wondering if the regulating body will enforce their rules strictly or not. This event has lowered the GRA’s reputation and standing as a regulatory body.
Regulated Casinos & Developers
Gibraltar is a smaller authority in the online casino space. The oversee all the casinos offering games by the following developers:
