Gibraltar Gambling Commission (GGC)

Gibraltar is very popular in the online gambling industry. It has built up a reputation for hosting reliable online gaming operators. The country perfectly combines no VAT charges, low tax, and a large workforce to drive its gambling industry. Gibraltar is often referred to as ‘Virtual Las Vegas’ because its online gambling industry is well developed. A large number of top gambling companies have transferred their operations into the Gibraltar jurisdiction.

Gibraltar Gaming Authority

Gibraltar has been granting gaming licenses to gambling platforms since 1998. This process was supervised by the GRA (Gibraltar Regulatory Authority), which is now known as the Gibraltar Gaming Commission (GGC).

The Commission grants only one gambling license to cover all gambling operations, e-gaming software providers, e-gaming service suppliers, and white label operators. This license lasts for only one year. The cost of getting a Gibraltar Gambling license is £2000. The Commission charges a 1% gaming tax rate which caps at £425000 up to £42.5m. These financial figures have helped Gibraltar to maintain its reputation as one of the best Gambling Authorities in the world. The GGC prescribes stringent requirements for companies that seek its license. The Commission ensures that the right of players is protected; it holds gambling operators to a higher standard of excellence.

Benefits of Gaming at GGC Regulated Casinos

We´ve listed the benefits of GGC Regulated Casinos below

1.To obtain a gambling license from the Gibraltar Gaming Commission

The operator must fulfill a number of stringent conditions including the payment of several fees. The GGC continues to monitor such online casinos even after the license has been granted. If there is any breach of regulation by an operator, the Commission will withdraw its license. Such an operator might even be punished.

2.To protect the Rights of Players

The GGC requires the fulfillment of the following conditions from its potential licensees and licensees. This is to ensure that players do not fall victim to rogue online gambling sites.

3.The first requirement is for licensed companies to be managed and situated in Gibraltar

To implement this requirement, the Commission ensures that certain key personnel of the licensee are available on demand. The gambling establishments must also pay a tax rate on gross profit valued at 1%. The operator must also discourage underage gambling. The marketing activities of such a gambling establishment must not target underage players. In addition, players from other jurisdictions or nations where online gambling is prohibited cannot receive promotional and marketing material.

4. Online casinos must provide players with accurate gaming information

Like the game types, prizes to be won, RTP, and other important casino information. The online casinos must have bank accounts in Gibraltar. Every licensee is required to submit its audited financial transactions during the yearly license renewal unless otherwise stated. The Gibraltar Gaming Commission also ensures that online casinos have sufficient capital and funds to pay for players’ payouts and to cover operating expenses of the casino at all times. The GGC does this to eliminate all forms of financial problems especially when players make withdrawal requests.

5. All gaming software used by the licensee is independently tested

To guarantee fairness and dependability. The Commission approved certain testing agencies to carry out this testing process. The licensee is also required to obtain all the necessary information of a player before granting him access to play games at the casino. This information includes full name, birth date, and residence. The licensee is also required to store the players’ personal information and financial data safely.

Contacting the Gibraltar Gaming Authority

The GGC stands out when it comes to promptly addressing complaints made by players pertaining to an online casino licensed by the Commission. The GGC tries its best to resolve the problem as soon as possible.

A player who has an issue with a casino operating under the GGC license and cannot successfully resolve the problem has the right to seek advice from the Gibraltar Gaming Authority complaints portal. The issue may be about a suspected case of unfair practices from the casino, or the failure of the casino to release the winnings of the player, or if the account of the player is suspended for unjustifiable reasons or for any other reason.

The Gibraltar Gaming Commission will put in pieces of machinery to investigate the issue. It may mediate between the casino and the player, but one thing is sure, the Commission will find a way to resolve the issues.

Conclusion

The Gibraltar Gaming Commission is one of the most respected and leading gaming authorities in the world. The Commission did not attain this status by mouth, it worked its socks off to reach this top level. The standard that the GGC requires from its licensees is so high that only a few gaming establishments meet up with this standard. They hold their licensees by the scruff of the neck to ensure that the licensees give the best to their players.