Gibraltar Gambling License
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ok, so we continue with Gibraltar Gambling license!
You should know that all gaming operations in Gibraltar require licensing under the Gambling Ordinance 2005. Remote Gambling licences, including for telephone and internet betting, are issued by the Government of Gibraltar.
Only companies with a proven track record in gaming, of reputable standing and with a realistic business plan can be granted gambling licenses. Licences are generally difficult to obtain. :(( Just 15 companies got these licenses from 2005 till October 2006!
What are the principal conditions and licensing requirements for betting and online casino operations?
1. The dealer should ensure that all advertising, promotion and sponsoring activity are truthful and accurate. It shall be targeted at adult players and shall therefore not be designed to appeal in any way to minors.
2. The licences are issued on the basis that the advertising and promotion of gambling services can only be directed to citizens of nations in which it is not illegal for such activities to be undertaken and that the licence will not provide betting services to anybody where the provision of such services by the dealer would be illegal under the applicable law.
3. The gambling companyt should have adequate financing available to pay all current and reasonably estimated prospective obligations. The Dealer should pay winnings and account balances to registered players in accordance with clearly established arrangements agreed.
4. Gambling companies are required to obtain the following minimum information with regard to all prospective players. The basic information on each individual shall include full name; address; and age.
5. For internet casinos gaming tax is currently at 1% of the gaming yield (the drop).
6. The bank accounts into which any customers, funds, stakes, wagers, prizes held or paid out from is object to be under gambling dealer control.
7. No bank account or credit card merchant account, nor the receipt, processing, holding and clearance of customer funds and credit card transactions, are be maintained by the licence in a jurisdiction other than Gibraltar, or in a Gibraltar licensed institution without the prior approval of the Government.!
Thank you for your time!
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