Gibraltar is very famous in the world as the offshore financial center. It is located in the southern part of Europe, the Iberian Peninsula. Gibraltar is the self-governing Dependency of the British Crown. Nevertheless, it preserves its independence from the United Kingdom in a sphere of taxation and is a member of the European Union with strict laws concerning gambling.
The Gibraltar gambling licensing
Gibraltar started issuing online gambling licenses in 1998. The country has granted licenses for twenty safe casinos and 222 gambling sites: online casinos, betting exchanges as well as sportsbooks. Gibraltar grants licenses for the gaming operations only under the Gambling Act issued in 2005.
The inner policy of casino licensing in Gibraltar is different from that in Kahnawake. The country's conditions of licensing are:
- no start up licensing fees;
- Â£2,000 is the annual licensing fee;
- betting exchanges, holding Gibraltar license, have a 1% tax on transaction with tax on gaming amounted to GPB 425,000 per year;
- online casinos, holding Gibraltar license, also have to pay one percent of the gross product in addition to the same gaming tax;
- non-resident companies in Gibraltar do not fall under its tax system : they are not registered for taxation purposes.
Gibraltar always tries to keep the good reputation, as it is the crucial factor for success in any kind of online business. For that purpose, the Gambling Commissioners are entitled to ascertain that all the licensees carry on their business operations according to the given licenses. Transparency and legitimacy are keys for e-commerce and e-gaming companies to effective cooperation with Gibraltar Licensing Authority, as it will consider only companies with the fair name, a good financial status, proven record in gambling business and realistic view on gaming business perspectives.
All the clients of online gambling companies holding the Gibraltar license may rely on the legitimate protection provided by:
- the Gambling Act issued in 2005;
- the Electronic Commerce Act 2001;
- Intellectual Property (Copyright & Related Rights) Act 2005;
- the Data Protection Act.
The latter provides the regulatory and legitimate framework for the fast growing online gambling business. The Gambling Act issued in 2005 create special requirements for online or remote gambling, gaming and betting in order to provide both a proper regulation of gaming industry & quick response to a fast growing and changing as well as competitive worldwide online business industry.
Welcome to the world of online casinos!
Online gambling has become a popular kind of entertainment. Players enjoy the opportunity to gamble without leaving home.
The main concern of all online players is whether the online casinos safe. The truth is that most of the casinos care about players and are licensed with the reliable licensing jurisdictions that guarantee transparency and fair gaming.
Moreover, online casinos provide players with great casino bonuses!
Are online casinos safe?
Gambling in online casinos is safe and that can be proved by licenses and certificates. For more information read this article that reveals all secrets and facts.