Empowered by the HM Government of Gibraltar through the Gambling Act of 2005, the GGC, previously known as the Gibraltar Regulating Authority, governs all gambling practices for betting operators based in the Mediterranean island of Gibraltar. It is situated just off the mainland of Spain close to Malaga but is, in fact, a self-governing British colony.
As such, online casinos in Gibraltar have the unique opportunity of advertising their services in the United Kingdom, with permission of the UKGC.
The license requirements in Gibraltar are very rigorous. Because of this, they are rated in the top 3 regulators in the world. Unfortunately for the online casinos seeking their licensing, the processes involved include a completely transparent audit of business practices and gambling systems.
In the past, there was only one gambling license available in Gibraltar, which covered any gambling-related practices. This has since changed. The following online casino licenses can be applied for:
- Remote Gambling B2C Operator (Online Casino), at the cost of £100,000 per year.
- Remote Gambling B2B Operator (Online Casino Provider), at the cost of £100,000 per year.
- Other Remote B2C Gambling Product, at the cost of £100,000 per year.
- Gambling B2B Support Service at the cost of £85,000 per year.
Some of the rigorous requirements analysed by the regulator when applying for and maintaining a yearly license include:
1. Business Plan and Structure: The gambling operator must present a clear and workable business plan and management structure.
2. Maintaining Advertising Guidelines: The operator must maintain ethical marketing practices to keep their licenses. Each advert must be clear and simple, without any catches or sly bait and switch tactics.
3. Financial Analysis to ensure affordability: The business will need to provide a full financial history to prove their financial management prowess and show that they have sufficient funds available to honour wins and pay overheads and running costs at the same time.
4. Accounts Audits each Year: Each year, the operator must provide their accounts for audit to ensure that they are free of crime and illegal practices.
5. Game System Audits: The games platforms bust be independently audited by verified 3rd party companies, such as eCogra, iTech Labs, and Gaming Association, to name only a few. This ensures that all software runs smoothly and conveniently.
One might wonder why such a small island would be such a popular remote gambling hub. The industry is so prominent in Gibraltar that of the 33,000 residents of the island, 12% of them are employed in the gambling industry in one way or another.
The taxation laws for operators is one of the biggest drawcards for online casinos. Though consumption taxes were climbed in October 2019 to 21% for online casinos servicing the UK, other income is only taxed at a mere 0.15% at the moment. The high British consumption taxes have put quite a dent in the revenues in Gibraltar.
Benefits for Operators
With all of the strict requirements imposed by the government of Gibraltar, it makes you wonder why online casinos even bother registering there. Below is a list of the advantages of holding a Gibraltar Gambling Commission License:
1. Status: The mark of the GGC on a casino site is one of prestige. Customers can look upon it and instantly recognise a mark of superiority. Veteran players are more likely to play at a GGC or UKGC casinos than in other jurisdictions because they understand the level of security offered to them.
2. Top Markets: Holding a license in Gibraltar opens a casino operator up to a network of top gambling jurisdictions. The most notable country of operation is the UK, despite its heavy taxes on remote gambling.
3. Taxation: As stated previously, the taxation levels are very casino friendly, allowing operators to keep a massive percentage of their revenues.
Benefits for Players
1. Fair and Safe Environment: The extreme number of balances, checks, and audits required by the regulator ensure that their operators are squeaky clean and optimised to offer the best software and administration possible. The GGC makes it a priority for their casinos to have protocols in place to ensure the optimum protection against under-aged playing and for the identification of vulnerable gamblers.
2. Wide Game Spread: Casinos offering services from this jurisdiction have no shortage of game content. Playing at a GGC casino ensures you, top game providers, such as NetEnt, Microgaming, Play'n GO, Evolution, Novomatic and far more.
3. Prompt Payouts: All GGC casinos are guaranteed to have funds available to payout your wins promptly. Their financial standing is scrutinised every year to ensure that they are in a position not to put player’s money at risk.
4. Understandable Adverts: Like the UKGC, GGC casinos must undertake to ensure that their adverts are fair and clear about all terms and conditions and must offer requirements akin to industry standards. This means that you will not have the wool pulled over your eyes by Gibraltar casino marketing, which means what you see is what you get.
Top Online Casinos Licensed in Gibraltar
If you don't know where to begin but want to try some of the best online casinos from the Gibraltar district, then make sure you try the top 3 brands we recommend here. Each holds licenses in Gibraltar and other premium licensing jurisdictions as well.
1. 32Red: This online casino was established way back in 2002. Having been a regular casino award winner, you can enjoy the finest forms of entertainment offered by Microgaming at 32Red Casino.
2. 888 Casino: The iconic and lucky 888 symbol represents the name of this world-renowned online casino that leads the pack in entertainment. The 888 casino offers over 300 games through software like Net Entertainment, Cryptologic, NextGen Gaming, Playtech, and more.
3. William Hill Casino: A name synonymous with a high pedigree, William Hill Casino has been around since 2008, leading the way in games provision in the UK and Gibraltar. Should you be looking for a top VIP program, there is only one natural casino choice – William Hill.
CasinoWow offers a testament to the standard of quality that is consistently provided by GGC online casinos. The array of first-class gambling sites offers both superior mobile and desktop experiences with fair bonuses and promotions to make your time at the online casino more entertaining.