iGaming / Gambling
A year later in 2005, Gibraltar implemented a legislation similar to Malta’s, but more flexible in certain aspects. With this, they managed to gain some prominence, also becoming home to large multinationals of online gambling. Another aspect that helped Gibraltar was recognition by the Gambling Act’s, which further strengthened its development and expansion globally.
In both cases, companies that opted for Gibraltar made large investments in human resources, which generated great job creation and the emergence of a new industry that helped further diversify both economies. By obtaining one or the other licences, bookmakers and casinos managed to pass on greater legal protection to their potential customers. This situation was reflected by the increase of new customers. The operators with the Maltese licenses focused more on the European countries, while those with the Gibraltarian licence opted for the British market. As a result, Gibraltar became a leading licencing institution.
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Different types of Licences
- Betting Intermediary Licence – For sports betting.
- Bookmaker’s Licence – For sports betting.
- Gambling Machine Licence – Focused on gaming machines such as slots and casinos.
- Remote Gambling Licence – For bets and remote games such as poker tables and others.
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In the case of Gibraltar, the body responsible for issuing and controlling all operators is the Licencing Authority, a specific department of HM Government of Gibraltar, which, controls, regulates and manages the same legal-administrative aspects.
Online gaming is the sector that has grown the most in recent years thanks to the internet usage growth, which has generated a “robust” business for both countries. Gibraltar has granted more than 150 licences according to public data, thus becoming one of the benchmarks in the licencing. This industry has become an important economic pillar for the Rock, representing about 40% of GDP.
The advantages offered to Gibraltarians over those registered in the United Kingdom were altered in 2014, when the Licencing and Advertising Act was amended. This amendment required all bookmakers based in Gibraltar or other territories to pay a 15% tax on profits obtained from UK customers, thus removing companies based in Gibraltar and other low-tax territories part of their competitive advantage.