Gibraltar Prepare to Construct a Modern Statutory Licensing and Regulatory Framework for Internet Gambling
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From Ana Rincon
Your Guide to
Gibraltar New Internet Gambling Licensing and Regulatory Framework |
15 January, 2006
With hosting fifteen existed online gambling companies, Gibraltar recently has passed a new established law that will create the framework for a statutory licensing and regulatory framework for Internet gaming.
Gibraltar, the Mediterranean licensing jurisdiction of online casino gaming, would like to introduce a ministerial-controlled Licensing Authority which has the current Gibraltar Regulatory Authority in order to act as the Casino Gambling Commissioner like before.
According to the new law, which was passed in the Gibraltar House of Assembly this week, "safe and free accessing from unauthorized persons" is a guideline that all computer equipments used for Internet gaming need stand to.
Additionally, under the effective "responsible gambling" guidelines, it requires that all the casino gaming websites under license in Gibraltar have to provide a direct link to an assistance organization dedicated to dealing with gambling problems or addictions for gaming players. A further statement according to the law figures out that a license holder must instate a specific functionary to be responsible for illuminating responsible gaming policies". The law also requires that online gamblers must be warned beforehand that they could not play beyond the rules.
Another regulation in the new law is that all casino gambling websites must post the license holder's full name and the business address he used. The website also has the responsibility of avoiding "untruthful, deceptive or misleading" advertising.
Gibraltar also attempts to exclude the possibility of money laundering in the new law by adding a requirement to ensure the license holder will inform any suspected money laundering activity to the Gambling Commission within 24 hours.
The new online gambling law also contains the regulations on the enforcement provisions and the investigators appointment.
A spokesperson for Gibraltar government stated that the new established laws on the licensing and regulation of casino will build a modern legislative framework for Gibraltar 's developing Internet gaming industry. "It will consolidate Gibraltar 's position of world first famous jurisdiction for virtual and online casino gaming industry," the spokesperson said with confidence.
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