Gibraltar's Online Gambling Industry Still Strong

Published Thursday, May 26, 2016 - Online-Casinos.com
Gibraltar's Online Gambling Industry Still Strong

Gibraltar has captured the attention of online gambling enterprises from many other locations because the jurisdiction offers low tax rates and other incentives. Gibraltar has the fastest growing economy in Europe and an unemployment rate of just 6 percent. Peter Howitt of the Gibraltar Betting and Gambling Association was quoted as saying that gambling "is estimated to constitute as much as 25 percent of the GDP of Gibraltar, and it contributes millions in corporation tax, gambling duty and PAYE from the thousands of people employed in the industry." The British Overseas Territory is the world’s headquarters for the lucrative online betting industry, which takes in over €30 billion in profits every year.  It has been estimated that over 60% of the globe’s online casino and gambling traffic flows through the jurisdiction.

One innovative firm that has met with success in Gibraltar is Lottoland a firm that focuses on lotteries letting consumers wager on international lottery draws using the internet. Players at Lottoland choose their numbers pay the price for their numbers and have access to the same prizes as everyone else who buys a ticket. Lottoland is increasingly popular for punters who prefer to play on their computers allowing access to lotteries unrestricted by international borders.  American lotteries such as PowerBall and MegaMillions are now available outside of the USA.

Since 2013, the company has grown into an online gambling industry leader and is now one of Gibraltar’s largest employers. Although the concept of internet lottery sales is not a new one the idea has taken hold and has grown significantly among expats who like to maintain the tradition of playing their national lottery while living abroad. Since December of 2015 the Lottoland web location has created six millionaires with one German national winning over €22 million on one German lottery. Other jackpot draws include the big games such as PowerBall, Irish Lotto and Euromillions.

 

 

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