The Gibraltar Remote Gambling Division is one of the top iGaming licensing authorities in the world. It has been around since 2002 and it was founded under the Gibraltar Regulatory Authority Act. Some of the top-rated online casino sites are licensed by the Gibraltar Regulatory Body.
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The Gibraltar Remote Gambling Division was established back in 2000 following the introduction of the Gibraltar Regulatory Authority Act. According to the Gibraltar Gambling Act 2005, businesses can apply for different gambling licenses, including a license to operate a sports betting site, online casino, lotteries, and gaming machines.
In order for companies to offer remote gambling services and products, they require valid licenses issued by the Gibraltar Remote Gambling Division. The regulatory body issues licenses for both online and telephone betting. The Gambling Act 2005 gave the licensing authority powers to ensure that all licensed gambling operators conduct their businesses in accordance with the main gambling laws and regulations.
Historically, the licensing body has only considered licensing blue-chip businesses with a strong record of success in the gambling industry operating in other areas which have legalized gambling activities. Today, the regulatory body also takes into account the licensing of smaller-scale operators and start-ups that have sufficient funding and that can contribute to the growing Gibraltar gambling scene. A
All applicants are expected to present a well-developed business plant, alongside their proof for funding. The Gibraltar Remote Gambling Division is also responsible for making sure that individuals with a criminal record are not operating gambling-related businesses, that all licensees operate according to the Gambling Act 2005, that all licensees operate according to the latest anti-money laundering standards, and that all licensees meet all the strictest safety and security measures.
Licenses issued by the Gibraltar Remote Gambling Division cover different gambling activities, including:
The maintenance of high gambling standards is ensured by the Gibraltar Remote Gambling Division by performing annual auditing of licensed businesses. With this being said, all gambling operators licensed by the Gibraltar Regulatory Body need to offer fair and safe gambling activities. Apart from offering all the required safety and security measures, all licensees need to work with third-party RNG testing agencies to ensure fairness, such as iTechLabs, and eCogra.
This leads us to licensing fees and gambling duties. All licensees need to pay a fixed week in accordance with the latest gambling regulations. The cost of getting a B2C remote gaming license is £100,000. The licensing fee is the same for B2C remote betting and licensing for other B2C gambling services and products, including land-based casinos and land-based bookmakers.
Then, there are certain gambling duties licensed operators need to take care of. The Gibraltar Government recently reduced gambling taxes from 0.85% to 0.15% on gross revenues for both sports betting and casino sites. Therefore, all operators licensed by the Gibraltar Regulatory Body pay 0.15% in taxes on their gross revenues.
All licensees need to have sufficient funding available to cover all current and anticipated future prize payout obligations, as well as to guarantee there is enough working capital to finance ongoing operations. All licensees also need to employ different anti-money laundering tools according to the Gibraltar Anti-Money Laundering Code of Practice.
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The Gibraltar Remote Gambling Division issues remote B2C gambling licenses to operators that want to offer online casino services and products. The regulatory body also issues B2C remote gambling licenses to sports betting sites, as well as, B2C non-remote gambling licenses to casinos and bookmakers.
Yes, all operators licensed by the Gibraltar Regulatory Body pay 15% taxes on gross revenues. The tax rate is the same for businesses offering land-based and online gambling services and products.
The Gibraltar Remote Gambling Division aims to issue licenses to blue chip companies or companies that can contribute to the country’s growing economy. At the same time, small-scale and start-up companies with sufficient funding can also apply.
Yes, the regulatory body is also tasked with issuing B2C gaming licenses to land-based casinos and bookmakers.
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