Gibraltar Gambling Commission (GGC)
Gibraltar Gambling Commission (GGC)- Licensed Online Casinos. Gibraltar is a full member of the EU. This country also appears on the whitelist of the UK Gambling Commission. And as a result, all gambling sites with Gibraltar licenses are permitted to offer gambling services to players in the UK. Over 55% of online gaming activities in the United Kingdom are done on servers based in Gibraltar.
Gibraltar Casino License
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.
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.
FAQ - Gibraltar Casino Licence
FAQ – Frequently Asked Question
Yes, the license given to gambling establishments by the GGC is legit. The license has the same respect as those of the UKGC and the MGA. Online casinos holding the GGC license are legitimate and are reviewed every year. Players can enjoy the best gaming moments at the GGC online casinos. The Commission also accepts only reputable casinos and the biggest brands in the gambling industry. But despite this, they still ensure that the big brands consistently engage in fair gaming practices. The GGC doesn’t just assume, they effectively monitor their licensees. The Commission never lets their licensees rest easy, it is always testing equipment, performing audits, and ensuring that the casino uses RNG. The GGC puts in so much more effort to ensure that players are treated fairly and that players’ details are safe and secure.
The benefits of a Gibraltar gambling license are many for both the players and the casino operators. The casinos are under strict observation by the Gibraltar gambling commission, so the casino players are protected from fraud and other violations. If there is any breach of regulation by an operator, the Commission will withdraw its license.
The casino operators who successfully fulfill the strict requirements of applying for a license can enjoy many benefits. Except for obtaining one of the most attractive gambling licenses globally, there are also low tax rates and very few competitor vendors.
One factor to consider with Gibraltar licenses is that it’s issued for five years immediately instead of one. On the one hand, it saves you time and money to not have to pay annual renewal fees and prepare documents every year, but on the other hand, it can feel pretty steep to cough up €100,000 (which is the price for 5 years) in one go as a start-up company.
If you have complaints regarding a Gibraltar licensed casino operator, you should email firstname.lastname@example.org. For the gambling commisioner’s advice to complaints, read more here.
There are six types of gambling licenses in Gibraltar:
Remote Gaming B2C Operator, Remote Betting B2C Operator, Other Remote B2C Gambling Products, Gambling B2B Support Services, Non-Remote B2C Gaming Operator (land-based casinos), and Non-Remote B2C Betting Operator (land-based bookmaker).
Viabonus Editorial Team