The Gibraltar Regulatory Authority: Masters of e-Communications
Gibraltar is one of the best, well-known places in the online gambling industry. It has been offering licenses since 1998, and now this duty is handled by Gibraltar Regulatory Authority which has been setting the standards for player safety in online gaming since 2005. What’s more, the GRA also brought in new changes, by offering new improvements that would make it impossible for underage people to participate in gambling. Of course, they also ensure that the players that are allowed to gamble stay safe and protected.
Today, online gambling-related companies can get a license for their business, which is known as a remote gambling license. One of the authorities which can provide a company with such a license is the Gibraltar Regulation Authority (GRA), responsible for regulating the electronic communications sector in Gibraltar.
Its competence includes TV/radio communications broadcasting, etc.; online gambling is also included in the list. According to the Gibraltar Gambling Act, the gambling process can be classified as “remote” if a person participates in it using different electronic communications (such as the Internet, phone radio, etc.).
Should you wish to contact The GRA, you can do so via:
Address: Gibraltar Regulatory Authority,
2nd floor, Eurotowers 4,
1 Europort Road,
Gibraltar.
Telephone: (+350) 20074636
Fax: (+350) 20072166
E-mail: info@gra.gi
Website: www.gra.gi
There are two steps of gambling licensing and two different authorities that are responsible for these two steps.
The first step is the process of licensing - the Licensing Authority decides whether to give a license to a new applicant or not.
The long post-licensing process begins as the second step, with the Gambling Commission being responsible for this part. It might seem like these two departments work separately, but in practice, they complement each other.
License Details
Remote gambling licenses are issued for a term of five years but can be renewed after the license’s expiration. Anyone can apply for a license, but the application can be declined because of numerous reasons like available technical infrastructure, person’s experience in the sphere, reputation, financial position, business plan, business structure, etc. The application process may take several months (2-6) and highly depends on provided documentation as it must meet all the regulations of the Licensing Authority.
Gibraltar typically offers a fully regulated gaming industry and has a stringent set of guidelines that any license holder is required to work according to. For example, advertising guidelines make licensees ensure that advertising and sponsoring activities somehow connected to gambling are truthful and accurate and are targeted only at adults in countries where such activities are not illegal. Licensees also need to ensure that the websites that are used for advertising or operating their gambling activities do not include links to irrelevant sites with immoral or violent content.
Restrictions
Although the GRA has no prohibitions or restrictions (except minimum age) on online gambling, it has strong anti-money laundering legislation. All license holders must have an effective system of internal controls for procedures that may be money laundering also they must be able to show that they are identifying and differentiating customers, transactions, and activities by risk level. They are also required to store at least necessary personal information of all the customers, including full name, residential address, and date of birth.
Fees
Talking about taxes that the GRA licensees are currently paying it’s needed to mention that they pay 1% of the annual turnover and the must-pay at least £85,000. They pay the same percentage for fixed odds betting and for betting exchanges
Complaints and Issues
