New e-Gambling Rules For Gibraltar?

Published: Friday, July 08, 2005 Online-Casinos.com

NEW E-GAMING RULES FOR GIBRALTAR?

Consultative process has already begun

Following a similar revamp of online e-gambling legislation and regulations in the Isle of Man regulatory jurisdiction last year, it appears that Gibraltar has started an initiative to overhaul its requirements.

Reports from the territory indicate that the authorities have started consulting with interested parties over a proposed radical overhaul of its gambling regulations.

The new proposals seek to update the existing gambling legislation to better deal with the growing number of online gambling companies that submit to Gibraltar's regulation.

The rocky peninsular at the entrance to the Mediterranean is home to some of the largest firms in the e-gaming industry, including Party Gaming and Cassava Enterprises, the parent company of 888 Casino On Net.

Gibraltar is the only non-EU country to date to be told it will be allowed to advertise freely in the UK following the introduction of the new Gambling Act, and sources close to the British government's DCMS have apparently hinted that it would favourably view a move by Gibraltar to bring its regulations more in line with new UK law.

One of the key aspects of the proposed law is the requirement for all e-gaming firms in Gibraltar to apply for a remote gaming licence. The conditions of the remote gaming licence will require operators to comply with rules governing age verification, social responsibility and software testing.

Other sections of the proposed law are aimed at increasing disclosure requirements for licence holders.