Gibraltar has been one of the most preferred destinations for online gambling companies since the Gibraltar Gambling Commission began issuing licenses and regulating the online betting industry there in 1998.
Unlike some countries such as Costa Rica and Panama, Gibraltar’s licensing process holds prospective businesses to a much higher standard.
Companies need to do much more than simply pay a fee and set up shop. They need solid business plans and financial backing among other things.
Background checks are more intensive and regulations are enforced with much more zeal. This is why Gibraltar betting sites are some of the best in the world.
Any player who chooses to sign up and play at Gibraltar betting companies knows that they can trust their services.
Online betting has been very profitable for Gibraltar. The industry contributes greatly to the economy and it employs a lot of residents.
It is estimated that between 20% and 25% of the GDP is due to gambling. This isn’t overly surprising, considering that most major online betting sites are licensed out of the region.
While the effects of Brexit are yet to be seen, there are legitimate concerns that this will have an adverse effect on their online betting industry.
As Gibraltar is considered a part of the UK family, and it will leave the EU at the same time as Britain and Northern Ireland, there are question marks over whether Gibraltar betting companies can continue to offer their services to EU players after Brexit.
It is also unclear whether players already registered at Gibraltar gambling sites will continue to be allowed to keep their accounts or how much notice they will get to close them down.
Top 10 Betting Sites for Gibraltar
Who is the Gibraltar Regulatory Authority and what is its Purpose?
The Gibraltar Regulatory Authority was the body which oversaw the licensing and regulations that governed gambling in Gibraltar. This entity was placed under the Gambling Division of the Government of Gibraltar which now assumes the licensing and regulatory duties under the Gibraltar Gambling Commissioner. Any sportsbook or casino hoping to offer Gibraltar betting services must go through this authority.
It is actually the Gibraltar Licensing Authority which now issues gambling licenses and oversees regulatory matters. They assess the applicants and they are known to be very strict when considering the suitability of candidates. Applicants must show a strong business plan, be in excellent financial standing and have experience with betting operations.
The role of the Licensing Authority doesn’t stop there. Once approved, online betting companies are closely monitored and they face regular audits. The Licensing Authority also makes sure that online gambling companies abide by the rules that apply to advertising and that the operators follow strict data-protection guidelines.
Failure to adhere to the strict Gibraltar gambling rules, will see a casino fined or potentially lose their Gibraltar betting license.
There are seven types of gambling licenses that companies may apply for. A bookmaker’s license, a betting intermediary’s license, a gaming operator’s license, a gaming machine license, a lottery promoter’s license, a pools promoter’s license, and a remote gambling license. In each case, the applicants must show beyond a doubt that they are capable and able to operate according to the required conditions.
Naturally, any sites specialising in Gibraltar football betting must apply for a Gibraltar bookmakers license. Casinos and other online betting sites will opt for the other types of licenses.
The Gibraltar Licensing Authority doesn’t mess around. Their tight grip on the online betting industry results in well-run businesses that have earned the gambling public’s trust.
How can a Player Submit a Complaint for Gibraltar Regulated Bookmakers?
One of the first things that any consumer should do is to try to resolve their dispute directly with the gambling company involved. Sometimes the dispute cannot be settled to everyone’s satisfaction and the complaint needs to go to a higher authority. This is where the Gibraltar Gambling Commission comes into play.
Complainants are advised to follow the advice that is set out in the Gambling Commissioner’s advice to complainants. It is basically a step-by-step guide to help people through the complaints process. Complaints must be made in writing or by email using the “Complaint Resolution Request Form” which is free to download.
It can be emailed to email@example.com or sent by post to Gambling Division H.M Government of Gibraltar, Europort, Suite 603, GX11 1AA Gibraltar. Complaints cannot be taken over the telephone.
As with any formal complaint process, aggrieved punters are urged to include as much detailed information as possible and be patient. The process is not going to be resolved overnight.
However, for there to be any kind of resolution at all, you must take these all-important first steps against what you may deem to be wayward Gibraltar gambling sites.
How are Disputes Moderated Here?
When a complaint reaches the Gambling Commission, punters can rest assured that it will receive fair consideration. The authority will investigate and determine whether or not the sportsbook has abided by the Gambling Act of 2005. If it is determined that the sportsbook was not operating up to standard then their license may be revoked.
If the infringement was minor, Gibraltar betting sites may just get a fine and be forced to resolve the issue you are having with them.
It is in the best interest of all parties that these disputes are settled fairly because it is a matter of public trust which is taken very seriously. If the sportsbook is found to have been acting in a manner that is consistent with the regulations then the complaint is dismissed.
This is not strictly limited to Gibraltar sports betting domains but is also true of casinos and other online betting sites which offer players across Europe the chance to bet from a Gibraltar licensed domain.
It should be noted that sportsbooks that fall under Gibraltar’s jurisdiction are not likely to breach any laws over a few dollars. It simply isn’t worth it considering what is at stake. Still, consumers who feel that they have a legitimate complaint are absolutely within their rights to seek a remedy through the Gambling Commission.
Is Sports Betting Legal in Gibraltar?
Sports betting and other forms of gambling are legal in Gibraltar. In fact, over 10% of people employed are working in the internet gambling industry. With the industry being responsible for such a great percentage of Gibraltar’s GDP, any changes that negatively impact the legality of online gambling in Gibraltar could have devastating effects on the economy.
Of all the sports you can have a punt on, Gibraltar football betting is the most common. Premier League, Champions League and many other European domestic leagues form some of Gibraltar’s best football bets at these sites. When having a bet online, Gibraltar licensed sportsbook odds are typically presented in decimal format.
What are the Requirements for a Gibraltar Sportsbook License?
In order to operate a sportsbook in Gibraltar, applicants must go through a rigorous process. A prospective sportsbook operator must apply for the proper license(s) and these gambling licenses are generally very hard to obtain due to strict requirements that need to be met.
For starters, unless you have experience operating a profitable and reputable gambling operation, you probably won’t even through the front door so to speak. Usually, only “blue-chip” companies with a proven track record in gambling operations within a reputable jurisdiction are considered. These companies must have an excellent financial posture and offer up a very strong business plan.
If a company can prove their worthiness, they must then agree to abide by the strict rules that apply to every aspect of gambling including advertising standards, financial transparency, privacy controls, paying taxes, anti-money laundering requirements and general codes of conduct. These are just a few requirements that sportsbooks must abide by. Failure to adhere to any of these regulations can easily lead to the license being forfeited.
Betting companies in Gibraltar often take these regulations seriously to avoid this outcome. To demonstrate how tough it is to get a license in Gibraltar, there are only 33 betting companies operating legally. A quick read of the names reveals some of the top brand names in online gambling, and these regularly offer Gibraltar’s best sports bets.
It is safe to say that if a sportsbook is licensed in Gibraltar then it is not a fly-by-night operation. If you want to play with the safest sportsbooks around, choosing one licensed out of Gibraltar is our top betting tip for you.
Other articles you might like: