To obtain a license from Gibraltar, an online casino must apply to the Licensing Authority. The firm’s experience in the internet gambling market, good financial history and a realistic plan are the main factors considered for obtaining a license. They are generally difficult to obtain because Gibraltar has a good reputation. In September 2007, the territory had only 19 licensed operators. Here are the main conditions for obtaining a license from Gibraltar.
The company that owns one must control all advertising and sponsorship. It must be legitimate, not to deal with minors or people in countries where gambling is illegal. It is necessary that the operator has the necessary funds for the achievement of all financial transactions in progress. Similarly, money won by players and account balances must be settled in accordance with the agreements concluded with the client.
The licensed company must undertake to request players the minimum information they have. But, full name, place of residence and age are needed.
Bank accounts in which the earnings are deposited, the bets and the funds must be handled by the operator who must provide regular audits and keep evidence of all financial transactions. Numerous controls are carried out by the Gibraltar Regulatory Authority to ensure that all activities of licensees are well within the law. The key personnel of the company may for example be controlled. Finally, licensees must comply with obligations to fight against money laundering. They are presented in the Order of the Criminal Justice of Gibraltar and the Guidelines against Money Laundering are issued by the Financial Services Commission in Gibraltar.