Gibraltar is a member of the European Union and is one of the old colonial territories that are still left with Great Britain. This tiny country is located on the Iberian Peninsula, on the southern coast of Spain.
It is a popular tourist destination and is closely linked with Costa del Sol. Indeed, Gibraltar is seen as an extension of Costa del Sol for all practical purposes. Gibraltar is well known for the Rock of Gibraltar, and for its online gambling industry.
Gibraltar may be a small country with just 30,000 people, but it is recognized as one of the most respectable gaming jurisdictions in Europe. It is also a very popular offshore area for small businesses.
Gibraltar has been issuing gaming licenses since 1998. Gambling is regulated in Gibraltar through the Gambling Act of 2005. This act governs all rules related to the acquisition of a gaming license.

What You Need to Know About the Gibraltar Gambling License

Obtaining a Gibraltar Gambling License would provide an online casino with a number of tax benefits and government guarantees. Also, the Gibraltar Gambling License is considered to be highly prestigious in the online casino industry, so this is something to be flaunted to customers.
The Gibraltar Gaming authorities take their reputation very seriously and issue licenses only to those companies that have obtained licenses from other recognized gaming jurisdictions. Only reliable and trustworthy operators are granted the license by the Licensing Department of the Gibraltar Gambling Commission.
The licenses granted can be of several types depending on the nature of the business. The license may be granted for betting shops, casinos, sports betting, lotteries, slot machines and so on. A number of online casinos are based out of Gibraltar today and are proud owners of a Gibraltar Gambling License.

Facts on the Gibraltar Gambling License

The Gibraltar Gambling jurisdiction is a highly attractive one because no initial payment needs to be made when submitting your application. The cost of licensing is quite low. This and the fact that Gibraltar is one of the most prestigious jurisdictions for gambling makes a Gibraltar Gambling License worth its weight in gold.
The cost of the license will depend on the type of gambling and can vary from $30,000 to $70,000. The license itself is issued for 5 years, and the annual cost of extending the license is only $2,800. Remember, each type of gambling in Gibraltar will require a separate license, the figures given here are for online casinos.
As you can see this is one of the most inexpensive gambling licenses you can get, and the excellent reputation enjoyed by Gibraltar casinos among players from across the world makes the license pretty much worth the money.
Taxation in Gibraltar is very reasonable – in fact, more than reasonable. The gambling business tax is just 1% of the revenues – this is as low as it gets. There is also a law that the tax cannot be lower than £85000 or higher than £425,000 per year. This makes the taxation system in Gibraltar particularly advantageous for large gambling enterprises or operators of popular online casinos that enjoy massive revenue from their websites.

Types of Licenses Issued by the Gibraltar Licensing Authority

The Gibraltar Licensing Authority issues a number of licenses to online gambling operators. It is their responsibility to check and verify the eligibility and suitability of those applying for the license. It is not easy to get their approval as there are strict requirements that need to be met.
Gambling operators should be of a proper financial standing and should have a proven track record in the gambling industry. They should present a robust business plan to the authorities when asked for it. The Gibraltar Licensing Authority issues the following licenses…
*Gaming Operator’s License
*Pools Promoter’s License
*Bookmaker’s License
*Lottery Promoter’s License
*Betting Intermediary’s License
*Gaming Machine License
*Remote Gambling License
It is the responsibility of the Gambling Commission to make sure that the license holders conduct all gambling operations as per the conditions laid out by the licensing authority. All gambling license holders should agree to abide by the accepted code of practice as mandated by the Gambling Commissioner.
A guarantee has to be given by the gambling operators that all online gambling activities will be controlled and managed from within Gibraltar only. They will be asked to provide a list of personnel or staff members based in Gibraltar and must stick to specific guidelines on advertising.
Gambling operators should produce only audited accounts and make them available to the Licensing Authority regularly. The Gambling Commissioner has the right to revoke or suspend a license any time in case the operators are held guilty of violating any of the terms and conditions of the Gibraltar Gambling License.

Gibraltar Online Casinos Player Registration Process

Responsible gaming is one of the most important aspects of the Gibraltar licensing process. The Licensing Authority wants to make sure that the interests of the players are protected at all times.
Any online casino that obtains a license to operate from Gibraltar has to have strict policies in place to promote responsible gambling from players around the world. To begin with, all players should provide essential information such as full name, date of birth and address.
They should complete a ‘due diligence’ process by filling up a KYC form for validating and verifying the data. The players should provide documents such as a government approved ID card, passport, utility bills or bank statements as proof that the information entered by them is correct.

Final Thoughts – What are the Advantages of a Gibraltar Gambling License?

Starting an online casino in Gibraltar has many advantages:
*Excellent reputation and high prestige
*One of the lowest tax rates of just 1%
*Government guarantees that you can depend on
*Secure and safe gambling where the interests of players are protected
* A stable and reliable legislation and a prosperous economy
Gibraltar is considered to be one of the best offshore zones for gambling activities. The local administration understands the online gambling industry very well and takes it very seriously. They do everything possible to encourage gambling enterprises to setup their base in Gibraltar and provide them with the right structure and support for developing their businesses.
The principality enjoys a high degree of political and economic stability, banking secrecy and does not impose any restrictions on financial transactions. This makes the Gibraltar gaming jurisdiction very attractive. It’s no surprise that a number of gambling operators have shifted to Gibraltar already, and more are expected to do so over the next few years.
Finally, the Gibraltar Gambling License is not easy to acquire and is targeted only at the best funded and most reliable gambling operators. Any online casino that gets this license will consider this to be a highly prestigious thing. It is not easy for new gambling operators or recent casino start-ups to get this license.
More importantly, gambling operators that have an unsavory doubtful reputation have absolutely no chance of getting this license as the requirements are a bit too high. Only experienced and well-established operators within the gambling industry stand a chance of getting their application for the license approved.
This is certainly reassuring for millions of players around the world – they know that an online casino with a Gibraltar Gambling License can be trusted implicitly. That’s why, as we said earlier, a License from the Gibraltar Gambling Commission is worth its weight in gold. Contact us if you need to know more about online casinos based out of Gibraltar.