"Gibraltar May Tighten Up Regulation of Online Casinos"
Gibraltar, unlike most other countries, has opened its arms and welcomed
online casino and Internet poker businesses to make their base of operation
there and the lax regulations Gibraltar has in place regarding Internet
gambling has made it somewhat of a haven for those business. This may
change soon, however, as Gibraltar is now considering the possibility
of imposing stricter regulations.
Gibraltar is home to many online gambling businesses including PartyGaming,
one of the largest online gambling businesses in the world, and Cassava
Enterprises. The country hosts many other online gambling businesses
as well, which has made it a significant player in the online gambling
world. Gibraltar would do well therefore, to impose the stricter regulations
so that they would more accurately correspond to the Internet gambling
standards that the United Kingdom upholds. Since Gibraltar is also the
only non-EU country allowed the privilege of advertising its casinos
in the United Kingdom, there is even more of an incentive for them to
match the standards set by the United Kingdom.
As a consequence of these factors, there is a new bill being introduced
that proposes a requirement for a remote gaming license. The gaming license
would only be granted if the applicant (the online gambling business)
enforces strict age verification measures, employs meticulous standards
for software testing, and is socially responsible. In addition, the companies
granted the license would be required to disclose more information to
legal authorities in Gibraltar.
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