Gibraltar Regulatory Authority - Casino License
The Gibraltar Regulatory Authority is popularly known as GRA. It is a statutory body running in Gibraltar which regulates all forms of electronic communications. They include radio communications, broadcasting transmissions, and telecommunications. It was established in October 2000 by The Gibraltar Regulatory Act. Find out more about the various options.
Rules and Regulations
The Gibraltar Government also gave the body authority to extend their responsibilities to data protection and gambling. They have to enforce the Data Protection Act of 2004 as required by the government. As a result, they have developed a website where they post wealthy information and a comprehensive guide about data protection. In this article, we will dwell more on gaming. The body has the power to licence all gambling companies who wish to run in the country. It also makes sure that the licensed company lives up to its expectations.
Registration Process for Licenses
The first step requires the applicants, directors and other stakeholders to issue the IDs, their financial statuses, CVs and any other supporting document to the authority. For them to get the licence, they must first meet the anti-money laundering requirement. The next step is to gather the information (as the casino owner) about your customers.
That information includes the date of birth, full name, and address. The customer must hand in some documents such as passport, ID card, bank statement, and utility bills. After that, they are required to finish due diligence for data verification by use of the KYC process. If the business meets all the prerequisites, they are then granted the licence. However, it is their duty to adhere to the licence or else, it can be revoked any time.
Different Casino Licenses
There are different licences given to gambling companies before they can set up their business in Gibraltar. Here are some of the must-have licences: A bookmaker’s licence - issued to a bookmaker (companies and individuals) who take bets, set the odds and undertake to pay the winners. A gaming machine licence - to set up any gambling machine within, you must have obtained this licence.
Every machine must have a separate licence. A remote gambling licence - applicable to all the betting companies who wish to establish their casinos in the country. Every licensed business must be located within the country and eligible to provide information in case of any government warrant. It is also a duty of the authority to revoke the licence if they feel like the casino misconducts its business.
Responsible Gambling on the Internet
The licensed companies have to ensure responsible gaming. GRA must make sure that all players are protected and safe from any harm as they gamble. All the casinos must also ensure that each player is not a minor before opening an account with them. They achieve this by requiring the new account to provide age supporting details such as ID card or passport.
The betting company must also be fair when it comes to paying winners. We understand every casino is in the business of making money but should not exploit the players. They should state clearly all the terms and conditions of wagering so that the customers are informed on time. To ensure that vulnerable players are protected, all casinos must set the maximum one can wager at a time.