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News Archive
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Gibraltar tightens up online casino regulation
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[2005-12-21]
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Gibraltar has legislated to produce a licensing and regulatory framework for online Casinos.
In order to ensure that companies based in Gibraltar operate "responsible gambling", the British territory will form a new Licensing Authority and see the Gibraltar Regulatory Authority act as a gambling commission.
Gibraltar has seen 15 online gambling companies set up there to date. As such, it wants to provide a legislative framework that is capable of dealing with the industry, reports the BBC.
A spokesperson for the government said the new measures will "ensure that Gibraltar remains the world's foremost reputable jurisdiction for virtual and online casino gambling".
Measures included in the framework will require companies that offer online gambling services to keep computer equipment used to run games in secure premises, which unauthorised people cannot enter.
In addition, those granted a licence will need to name the person responsible for producing online gambling policies. The name and address of the licence holder will also need to be displayed on the website and advertising appearing on the site must not be "deceptive or misleading".
People who use the websites will also be warned against gambling to levels they cannot afford.
Gibraltar's new legislation seeks to prevent money laundering by giving the operator of the site 24 hours to inform the gambling commissioner of any suspicions that may arise.
The government of Gibraltar states that it is committed to transforming the territory into an international e-business centre and states that government, business and organisations need to adapt to this new technology-led environment.
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