Gibraltar is a British Overseas Territory that has over 32,000 residents across 2.6 square miles of land. Irrespective of its tiny size, Gibraltar is a boon to the online gambling industry across the globe.
Online gambling Gibraltar is a haven for companies due to the tax afforded to them by the local Government. Gibraltarian online casinos require licenses under the 2005 Gambling Act with remote gambling licenses. The list of online gaming companies in Gibraltar stands at 888 Holdings and Party Poker. Over 60% of online casinos are looked over by Gibraltar and it is the largest jurisdiction globally.
There are 26 online casinos registered under it along with other operators running in Gibraltar. Ladbrokes in the UK is also a part of it. Over 15 online gambling companies are present in Gibraltar and some of them are listed in the London Stock Market. Over 1800 employees work in the online gambling industry in Gibraltar which is more than 12% of its total workforce.
Top 10 Gambling Sites for Gibraltar in 28 September 2023 – Updated List
History Of Gambling In Gibraltar
After World War 2, gambling made its first appearance in Gibraltar in 1947. The Gibraltar Government Lottery was introduced as a fundraiser event for the construction of houses for the displaced citizens during both the world wars. Gambling sites by country grew eventually and generated more revenue than the military which was the main source of income back then.
The Gibraltarian government in 1998 introduced a gambling law that allowed online gambling platforms to receive licenses categorically. Gibraltar was one of the first countries who started giving out licenses to operators and high roller casinos offering amazing Gibraltar bonus codes. Gibraltar is on the white list of the UKGC and many platforms licensed in Gibraltar offer their services in the UK as well.
The Gibraltar Regulatory Authority or GRA was in charge of regulation and licensing for both the online and offline gambling facilities and activities in the country. In 2005, a new Gambling Act was passed which ceded the Gambling division to the government and a gambling commission. This is when the Gibraltar Gambling Commissioner was established which was in charge of the Gambling Division.
Online Gibraltar gambling sites which were blue-chip organizations were taken into consideration. The Cash on Hand requirement was also a criterion that is determined by some evaluations and information gathered by the Gibraltar Licensing Authority.
Gambling laws are strict for online operations but offline gambling is not that active in Gibraltar since there are only 2 brick and mortar casinos in the country: the Casino Admiral which is the largest, established in 2013 by Novomatic and the second one is Sunborn Gibraltar SuperYacht Hotel and Casino brought by the Sunburn group in 2014-2015.
Gibraltar casinos have developed a great deal in terms of the bonuses offered. A 500% first deposit bonus at casinos is also available for punters along with other Gibraltar promo codes. The legislation also states that the minimum age for participating in lotteries is 16 whereas 18 years of age is required for gambling activities.
The GDPR or General Data Protection Regulation was brought into force on the 25th of May 2018 for Gibraltar online gambling and offline gambling. It emphasizes transparency, accountability, and security by data controllers and aims to strengthen the individual rights of data privacy.
The newly amended DPA or Data Protection Act came into existence in 2004 for ensuring the match between GDPR and the Data Protection laws in Gibraltar. All online casinos are protected under this regulation.
The previous legislative regime involved registration of processing operations of the data controllers with the Data Protection Commissioner which is no longer applicable. It has been replaced with the Register of Data Protection Officers.
Under section 138 of the Newly amended Data Protection Act, the commissioner has to establish a data protection officer’s register which falls in line with the GDPR requirement of the same. Some organizations under the GDPR have to appoint a designated DPO and publish details for the same to the national supervisory authority regarding real money casinos Gibraltar.
Taxes at Online Gambling Gibraltar
The taxation of companies and best gambling sites Gibraltar is governed by the Income Tax Act which is supported by subsidiary legislation enabled by the provisions of the Act itself. In 2011, a new corporate tax system was introduced with a 10% headline rate.
A directive 90/435/EEC on the taxation of subsidiaries and parent companies was transposed by Gibraltar into national law as per the 1991 Parent Subsidiary Company Rules. A parent company is not responsible for circumstances regarding tax dividend income paid to its parent by a subsidiary.
The top international gambling companies pay a gaming charge. There is a 1% tax rate on fixed-odds betting activities on the best online slots and poker, casino) per year. The tax is at £425,000 GBP per year where the minimum amount paid is £85,000GBP. Best gambling bonuses and offers must also abide by these norms.
Online bookies are taxed at 1% on the gross profit or turnover. For brick and mortar casinos, the corporate tax rates are 10% and the gaming charges vary according to the number of tables and machines located on the premises.
As per the requirements of the Consolidated Account Act and the Companies Act, gaming companies have to get their accounts audited every year for filing the financial statements to the tax authorities. All documents of accounting must be held by a licensed Gibraltarian bookkeeper.
Gibraltarian casino sites do not tax winnings on gambling but local tax laws must be checked once for confirmation. Tutorials and strategies articles for all types of gambling are available on the internet for the best online casino reviews to decide upon the best platform.
In most countries, one does not have to pay Gibraltar online gambling tax on winnings even for the best live casino games online for a fully licensed casino. However, the bookmakers cannot evade tax payments.
Laws And Regulations On Online Gambling Gibraltar
The Gibraltar Gambling Act of 2005 is the main legislative instrument for the regulation of gambling in Gibraltar. It not only makes provision for the regulation and licensing of brick and mortar casinos but also remote gambling services. The legal gambling definition focuses on games like pool betting, bookmaking, lottery games.
Lottery draw betting results are permitted under the Gambling Act. For free prize draws, the proposed offering gas is to be carefully considered for determining whether it is licensable or not. In the 1950s, Gibraltar’s first gambling statute was enacted upon covering the provision for brick and mortar gambling services in the country.
The legislation did not contemplate the provision of gambling services via remote means. In the 1990s, the country saw its first remote gambling Gibraltar providers in the jurisdiction.
In the 2000s, when the first online gambling services were introduced, the initial license terms were extended in accordance with the old legislation. Specific arrangements were allowed for individual license agreements on contractual terms between the Licensing Authority and the Gibraltar Government.
Gibraltar laws state that all types of gambling products are allowed to be offered commercially in Gibraltarian casino sites leaving out Lotteries. The only lottery permitted is the Government lottery which is based on printed tickets.
In terms of territorial issues, the country as a geographical jurisdiction is small and runs on a common regulatory and licensing framework. No sub-delegation of authority in accordance with other municipalities are present and these matters are administered by the Gibraltar Licensing Authority as a whole.
For Offshore online casino software 2023, the government of the country states no general restrictions in terms of foreign operators providing gambling products to the citizens of Gibraltar. For foreign operators willing to provide brick and mortar gambling facilities, they have to apply and obtain the license locally.
Payment Methods Accepted And Currencies
Yes, players from Gibraltar can safely gamble online as the environment is secure for both operators and punters. All the Top Gibraltar bookies are licensed and one does not have to worry about safety while gambling.
Yes, all Gibraltarian online casinos can offer welcome bonuses along with free spins for the punters. Other offers like reload bonuses, bonus cash, no deposit bonuses, cashbacks, and other incentives are also offered.
Multiple payment methods can be used at a casino in Gibraltar. Credit or debit cards like Visa, MasterCard are available, e-wallets like Neteller, PayPal are popular. Prepaid PaySafeCard, EntroPay is also a method of deposit. Wire transactions are also available.
The gaming element of Gibraltar licenses includes all types of casino games, slots, poker, machine games, and games without limitations.
To obtain a gaming license in Gibraltar, the recipient must spend around 14-90 days completing all procedures in accordance with the license type and the period of documentation verification by the operator.
Gibraltar offers a dual licensing and regulatory framework regulated by the Financial Services Commission along with the Gambling Commissioner.
Betting in Gibraltar is one of the most popular countries for gambling and is open for residents across the world. The Betting companies of Gibraltar operate out of the British overseas territory due to one of the lowest tax rates. The GBGA or Gibraltar Betting And Gaming authority license many popular betting platforms for the world to enjoy. Hosting amazing offers like free bets, bonuses, cashbacks, and more, there is a lot to explore at these betting platforms.