Located within the beautiful terrains of Western Europe is the compact, self-governing territory of Gibraltar. First established in 2005 as a result of the Gambling Act (of the same year), it has made many great strides within the online gambling industry only to emerge as one of the most highly coveted licensing jurisdiction for a vast majority of the most prominent online gaming brands all over the world. Prior to the formation of this regulatory entity, the online gambling industry had been run amok with petty theft and identity fraud.
As a result, the entire gaming community suffered through an extensive period of loss until the Gibraltar Licensing Authority arrived on the scene to sort out the many mishaps that were regularly taking place due to the absence of any regulatory authorities to keep these online casinos in check. The GLA has doled out a clear set of instructions and guidelines to all the licensed online casinos and has made it abundantly clear that these rules have to be followed at all times. In the instance that any of the rules made by the regulatory authority are broken and/or the requirements are not met, strict action is taken against the online casino.
TYPES OF LICENSES GRANTED BY THE GIBRALTAR LICENSING AUTHORITY
By forming the Gibraltar Licensing Authority, the government of Gibraltar has not only redefined the inner workings of the entire online gambling industry but has also clearly marked the borders of the online legislation in Gibraltar. Gambling over the internet, in the very essence, is a highly remote activity. A large myriad of differences is observed when online gaming activities are compared to domestic gaming, non-remote activities, and betting activities. As the Gibraltar Licensing Authority offers various different operating licenses, online casino owners are encouraged to choose from and apply to any of the following licenses:
In order to preserve its reputation from being tainted, the Gibraltar Licensing Authority keeps a firm hand over all the online casinos it grants an operating license to. Inarguably, the GLA is one of the sternest regulatory authorities where requirements and standards are considered (in terms of prospective casinos). The most limiting factor, in all likeliness, has to be the determination of the Gibraltar Licensing Authority to only consider casinos that are ‘blue-chip’ establishments for licensing. To put it simply, it is not a mere coincidence that only major casino brands have been backed and licensed by the Gibraltar Licensing Authority. A reputable history and a powerful business presence within the online gaming market is a basic requirement to obtain an operating license from this renowned regulatory authority.
CASINOS LICENSED BY THE GIBRALTAR LICENSING AUTHORITY
Owing to its grand stature within the community, any online casino that has gained an operating license from the Gibraltar Licensing Authority enjoys a great number of privileges, in terms of both a growing customer base and a great influx of software providers wishing to form business ties with them. However, these benefits come at a relatively simple price. The Gibraltar Licensing Authority (by contract) requires all of the online casinos licensed under it to keep an ample sum of liquid funds at their disposal so as to keep their payments up to date with the players.
The Licensing Authority is also responsible for making sure that all the players receive their rightful funds (as specified by the terms and conditions of the online casino they have dealt with). Once an online casino gains the approval of the Gibraltar Gambling Commissioner, they are expected to provide a regular amount of records. Perhaps the most important information is the financial records of the bank accounts the online casino uses to hold and process both deposits and withdrawals. As per the terms of the licensing agreement, the online casino must conduct an independent, annual financial audit to ensure that all the funds it has accumulated have been accounted for.
The outcome of these audits (along with the actual return for the games) must be presented on the website of the online casino for public viewing. At a more comprehensive level, the jurisdiction of Gibraltar has been legally established as the effective management of the casino according to the terms and conditions of the licensing agreement. To simplify this statement, the Curacao Licensing Authority reserves all rights to ask the online casino for additional documents at their own discretion if they feel such a step is necessary to be taken. This powerful oversight gives assurance to all players that they have put their faith in a reputable licensing authority. Furthermore, all casinos licensed under the jurisdiction of Gibraltar must demonstrate truly random play to both the players and the licensing authority.
DISPUTE RESOLUTION AND SAFETY BY THE GIBRALTAR LICENSING AUTHORITY
In comparison to other competing licensing entities, the Gibraltar Licensing Authority is notorious for its excellent customer service. An entire portion of their website is dedicated to resolving any and all disputes that might strike up between players and the online casinos. According to their policy, the player must first get in touch with the casino itself and strive to work out their differences between themselves. In the event that the player is either dissatisfied with the casino’s decision or they have a dispute that the player believes to be an exception to this policy, he or she can carefully fill out the Complaint Resolution Request Form and send it to the Gibraltar Licensing Authority via an e-mail. This tactfully organized complaint process ensures that all customers are assisted in a timely manner.
CONTACT THE GIBRALTAR LICENSING AUTHORITY
If you wish to contact the Gibraltar Licensing Authority, you can easily find them at this location: Gambling Division H.M, Government of Gibraltar, Europort, Suite 603, GX11 1AA Gibraltar. If physically visiting them is difficult, you can also reach them via phone, e-mail address, or fax.