In a statement issued earlier today, the Netherlands Gambling Authority said that it has slapped a €350,000 fine on ElectraWorks Limited, a Gibraltar-based subsidiary of gambling powerhouse GVC Holdings that operates the bwin.com gaming and betting website.
Gibraltar was one of the first regions to license online gambling sites all the way back in 1998. These days it’s recognized as one of the premier hubs for online gambling and plays host to numerous online betting companies. It is one of the most widely recognised and also one of the more regulated gambling jurisdictions to be found anywhere in the world. This is mainly due to its reputation for ensuring all regulatory practises are strictly adhered to.
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Our Gibraltar Licensing Authority review takes a brief look at the history behind one of the first players
Pre 2005, all the licensing and industry regulations were handled by the Gibraltar Regulatory Authority or ‘GRA’. In 2005, legislative framework revision led to the Gambling Act of 2005 and the GRA’s gambling section then merged with the Gambling Division of the Government of Gibraltar, which to this day is responsible for the issuance of gambling licenses.
Any form of gambling operation located in Gibraltar needs to be licensed under the 2005 Gambling Act or ‘The Act’. Dragon ball xenoverse 3rd ultimate slot. Internet or online gambling operations require a license that is issued from the Gibraltar Licensing Authority, under guidance from the Gambling Commissioner. The Gambling Commissioner ensures that licensees run their business in strict accordance with the terms and conditions of each of their licenses and also in accordance with the special code of practice that is issued by the Gambling Commissioner.
A look at the main goals and missions attributing to the success of the Gibraltar Licensing Authority
The vision of practice behind the licence department and the effect of the remote gambling application are listed here:
- Provides a complaints guideline for players.
- Supports test requirements with approved companies such as Ecogra, iTech Labs and Gaming Associates.
- Anti-Money laundering program.
- Offers a ‘Generic Code’ by which all licensees must abide by with fair and transparent frameworks.
- Offers operators a flat tax duty of 0.15%.
- Regulates the accuracy and truthfulness of advertising with promotional and sponsored activity.
- Licensed software development for iGaming.
The business licensing authority Gibraltar sets and the main points of summary to their business practice
In order to obtain any type of gambling license from Gibraltar, operators must be able to prove their previous history with regards to gambling or online gambling operations and must be in good financial shape business wise. Only then will the Gibraltar Licensing Authority consider them for an applicable gambling license. If any operator is found to have violated any of the terms and conditions they are bound to or have a bad track record when it comes to previous operations, then the Gibraltar Licensing Authority has the right to refuse a license and even revoke any or all licenses that have already been issued as they see fit.
Here is a summarization of the four key points of practice taken on by the GBGA.
1. The Licensee is a driving force behind safe, competitive and fair regulated standards. The licences in association to the GBGA ensures strict regulations on these points for all the gambling consumers. This sets out higher standards across the EU and Global networks. Helping to also combat fraud, laundering and underage gambling.
2. Integrity and Excellence. Supporting the free movement of services globally and for each betting and gambling outlet. Ensuring a website can promote bonuses and brands and general content to a worldwide market.
3. World leading standards, would be simple enough to quantify the practice of this regulator. A relevant law maker and firm believer in the businesses, they have opened up new standards with safety and competitiveness. This leads their process being the strictest in the World.
4. The Gibraltar Licensing Authority holds a huge commitment to the online consumer of their regulated associations, from tested games to equal trade. The public are put first as they look at social responsibility and education with this pastime.
Gambling sites holding the casino license Gibraltar issues and how the GBGA service is provided
The Gibraltar Licensing Authority can issue several different types of licenses to online gambling operators depending on the type of service or function they provide. They include bookmaker’s licenses, gaming machine licenses, lottery licenses, operator’s licenses and also remote gaming licenses.
Licensees are therefore legally bound to adhere to the guidelines and regulations set out in these agreements. This includes any applicable restrictions on advertising, ensuring strict adherence to fraud and money laundering policies and requirements, availability of accounts and official audits, applicable gaming taxes plus operating and testing standards. The Gambling Commissioner is then bound to ensure that licensees operate within the framework set out in the 2005 Gambling Act and also in accordance with the terms and conditions of each applicable license.
Those meeting the necessary requirements of the Gibraltar Licensing Authority can be found in the list highlighted above where you can read each review and register with instantly.
More..LessFind out about the different online gambling jurisdictions and licensing authorities.
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Gibraltar Gaming Commission & Authority
By: Adam Baker, Wednesday December 10th 2008Gibraltar is located at the southern most tip of Europe. It was always known as a well-regulated financial center and therefore a natural choice for a gaming jurisdiction. Today the Gibraltar Gaming Commission, known as the Gibraltar Regulatory Authority, licenses sports books, online casinos and betting exchanges with the total number of licensees for online gambling being 21. Over 10% of its workforce is employed by the gaming industry.
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Online gambling commenced in the mid 1990s and started growing around the end of the last century. The Gibraltar Regulatory Authority issued its first online gaming licenses in 1998. The first operators who came to Gibraltar were Victor Chandler and Ladbrokes. Today the Gibraltar jurisdiction boasts of some of the biggest and best names in online gaming. These include the Belle Rock Entertainment group that offers popular online casinos like Jackpot City and River Belle, 888 Holdings that runs 888.com and Pacific Poker and the Party Gaming group that offers Party Poker and Party Casino.
The Gibraltar Regulatory Authority does not charge any initial licensing fee, even though it undertakes a very rigorous initial inspection. The licensees pay an annual fee of £2,000 and a gaming tax of 1% of their turnover subject to an annual cap of £42.5 million.
Initially the Gibraltar jurisdiction operated under the 1958 Gaming Ordinance. However with the tremendous growth in online gaming and the attendant social issues Gibraltar's House of Assembly updated its gaming legislation in 2005 and passed the Gambling Act 2005, under which the Gambling Regulatory Authority was appointed as the Gambling Commissioner. One of the reasons that Gibraltar has few licensees is that it has set strict standards and enforces them ruthlessly. The new act focuses on regulation, transparency and social obligations. Gibraltar is the only United Kingdom overseas territory that is a part of the European Union. Also the Gibraltar jurisdiction is covered by the new U.K. Gaming Act. Both these associations have brought greater credibility and popularity to online gambling sites licensed in Gibraltar.
Cutting slots for door hinges. The responsibilities of the Gibraltar Regulatory authority include framing regulatory policies, evaluating applications for new licenses, investigating breach of license conditions and resolving disputes between player and operator. Among the numerous requirements that a potential licensee has to fulfill two are most important. The applicant has to produce a certificate confirming the integrity of the software from an approved inspection agency. The agencies approved for this purpose by the Gibraltar Regulatory Authority are Technical Systems Testing, eCOGRA, iTech Labs Australia and Gaming Associates Pty Ltd. The applicants also have to demonstrate their commitment to responsible gambling. They have to provide links from their sites to problem gambling help sites, have to incorporate self-exclusion features in their software and also have to take steps to prevent underage gambling.
Related information and links about the Gibraltar Gaming Authority can be found below:
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