If you are somebody who worries about placing money in the hands of strangers at online casinos, then you can generally ease those fears by gambling at online casinos licensed in the Gibraltar jurisdiction. Gibraltar has strict regulations in place that ensure gaming companies must be totally legitimate before attaining licensing there. Here is a quick look at one of online gambling’s most respected jurisdictions.
Looking at a map, you wouldn’t think this overseas British territory would amount to much. This peninsula, which is south of Spain on the southern most tip of Europe, is less than 3 square miles in size. But as a gaming jurisdiction, Gibraltar is as important as they come.
As alluded to before, Gibraltar is a British territory – though they are mainly ruled by their own internal government. This is a big reason why Gibraltar has been able to set up their own laws, which makes provisions for online gambling companies to operate within their borders.
Not just any company can obtain a gaming license through Gibraltar. Only well-established companies with a good track record can even have a chance to operate in Gibraltar. Going beyond this, a company must also have solid financial backing as well as a detailed business plan to further their chances of obtaining licensing.
The financial backing aspect is key in all of this since all gambling operations must pay 1% of their gross product up to £425,000 in taxes each year.
The UK Gambling Commission lists Gibraltar on its online gambling whitelist. This allows gaming companies based in Gibraltar to advertise throughout the UK.
Though Gibraltar only gives licenses to top quality gaming companies, complaints still arise. And when these complaints arise, people can take them to the Gibraltar Regulatory Authority. This commission handles complaints between players and gambling companies, reviews applications for those seeking licenses, and sets up the framework for gaming laws.
With the Gibraltar Regulatory Commission in place and the strict requirements that companies must operate under in Gibraltar, people can deposit their money with confidence in Internet casinos under this jurisdiction.