What sets Gibraltar’s gaming licenses apart from other jurisdictions? For a start ask yourself: how long is my business plan? If you are planning for a longer-running enterprise, then maybe a license from Gibraltar could benefit your operation. Read on to see how.
Gibraltar is a British Overseas Territory located at the southern tip of the Iberian Peninsula next to Spain. It’s only 2.6 square miles wide and home to over 32,000 people. Gibraltar started issuing gaming licenses at the beginning of 1998, and is regulated by the Gambling Act Legislation which was adopted in 2005. This act contains all major rules of obtaining a gaming license and is issued by the Gibraltar Licensing Department.
Like other British Overseas Territories and Crown Dependencies, Gibraltar enjoys special tax privileges, zero VAT, and offers some of the world’s best gaming licenses.
What kind of gambling license can you get from Gibraltar?
Gambling licenses are issued by the Gibraltar Licensing Department and the Gambling Commission regulates the activity of gambling for its licensees.
In total, Gibraltar offers six different types of gambling licenses, out of which two are for land based enterprises located within the territory.
The six types of licenses are outlined as follows:
- 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)
- Non-Remote B2C Betting Operator (land-based bookmaker)
What are the benefits of a Gibraltar gambling license?
Choosing Gibraltar as your gaming licensing jurisdiction offers a myriad of advantages, these include:
respect and reputation
low amount of competitor
advanced license legislation
Gibraltar gambling license helps gain trust from players and software providers, and is valid for five years unlike most others that have to be annually renewed. Tax policy related to the gambling business is also fairly liberal — 1% from revenue, with a maximum amount of £425,000 a year.
How to apply for a Gibraltar gambling license?
There are some fairly strict requirements for obtaining a gambling license in Gibraltar. The biggest hurdle is that the Licensing Authority will only consider companies with experience in gambling, other licenses in reputable jurisdictions, good financial condition, and those with a realistic business plan.
The other requirements are:
- Information about key personnel including shareholders, directors and executive managers
- Business control should be exercised in Gibraltar
- Gambling products and services should be certified and be compliant with Gibraltar's regulatory model and standards
Certain independent test houses have been approved by the Gibraltar Licensing Authority to carry out software certification mentioned above. There are 11 companies that carry out testing, please contact us if you require more information on game and software testing, or on the application process itself.
Please keep in mind that The Gibraltar Licensing Authority’s key principle in considering the licensing of operators is to “keep crime out of gambling”.
This means that any prospective vendors wishing to obtain a Gibraltar gaming license must have no criminal history. Licensees must also be prepared to meet internationally acceptable anti-money laundering standards and measures preventing terrorist financing.
Potential applicants must be prepared to submit themselves to regulatory due diligence which will confirm that ownership and control of the business is legal and transparent. Getting a Gibraltar gambling licence means building trust with the regulator.
We offer consultancy services and complete package solutions for gambling license acquisition that include:
- Gambling jurisdiction and business advisory
- Gambling business corporate structure incorporation
- Opening bank accounts
- Gambling license application
How much does a gambling license from Gibraltar cost?
As mentioned earlier, the first factor to consider with a license from Gibraltar is that it is issued for five years instead of one. Long term it means saving time and money, because annual renewals normally mean additional fees and preparation of updated documents.
Aside from that, the cost structure is very straightforward. The price of the Remote Gaming B2C Operator, Remote Betting B2C Operator, and Other Remote B2C Gambling Products will be £100,000 for a five year license.
For the Gambling B2B Support Services license, the cost is £85,000.
The gambling business tax is 1% from revenues. The amount can not be higher than £425,000 or lower than £85,000 per year. Good conditions for companies with big turnover.
How do Gibraltar and UK licenses compare?
Gibraltar is a British Overseas Territory, but has its own gambling laws, and has its own regulatory body. United Kingdom also offers licensing for iGaming operators, so we decided to compare the conditions:
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).
Non-Remote B2C Betting Operator (land-based bookmaker).
Types of licenses
By activity performed:
Operating License, Software Operating License, Personal Management License, Personal Functional License
Different license for each product type
Different license for each product type
Worldwide, wherever license is accepted
£100,000 for B2С licences
£85,000 for B2B licensed
Depends on type of license, product covered, and GGY.
- Remote general betting for real events - £2,933 - £25,777
- Remote general betting for virtual events - £1,980 - £42,978
- Remote casino (poker, roulette, blackjack, slots) - £2,640 - £57,304
- Remote bingo - £2,640 - £57,304
Personal management license: £370
2 February, 2021
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Are there any disadvantages of a Gibraltar gaming license?
When deciding to apply for Gibraltar gambling license consider the following:
The first thing is already mentioned, comparatively high price for the five year license. Second, the operators that are planning to offer several forms of gambling (for example online casino and betting) would require to have two separate licences, because each only covers a specific form of business.
Finally the licensing process is rigorous and requires a precise business plan, a lot of paperwork and readiness for audits and due diligence processes.
Low number of companies that have this license illustrates that Gibraltar only issues them to the companies able to show a high standard of quality and organization. Because of that, it’s not surprising that Gibraltar gambling license is one of the most prestigious.
Big success factors is the active license from another legitimate jurisdiction and also a team of professionals that can help correctly organize the process and lead it to a desirable conclusion.
Gibraltar gambling license FAQs
Which type of license do I need?
The activity of your business will determine the kind of license required. As an online casino operator, you will need to choose between the Remote Gaming B2C Operator, Remote Betting B2C Operator, and Other Remote B2C Gambling Products, or obtain all three licenses depending on your business type.
How much does a license cost?
The Gibraltar license cost structure is very simple and transparent for the six types of license that they offer. All licenses cost £100,000 except the Gambling B2B Support Services license which costs £85,000.
How can Slotegrator help?
For any business, the process of getting a gambling licence is difficult and time-consuming. To help save time and money, many companies use professionals: experts and lawyers that have many years of experience and hundreds of successfully licenced enterprises in numerous jurisdictions.
Obtaining a licence is just a first step for a successful iGaming business, choice of software, games and payment systems, marketing and other important challenges lie ahead.
Slotegrator helps both newcomers to the market and seasoned operators that are looking to expand. Contact us, and we will be happy to help you as well.
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