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Gibraltar tightens internet gambling

Gibraltar has passed a new law to create a statutory licensing and regulatory framework for internet gambling, having already attracted fifteen gaming companies.

A ministerial-controlled Licensing Authority is to be introduced, while the Gibraltar Regulatory Authority is to act as the Gambling Commissioner.

Computer equipment used for gambling must be kept in premises which are "secure and free from access by unauthorised persons," says the new law passed in the Gibraltar House of Assembly on Tuesday.

Under the heading 'Responsible gambling', any gambling website under licence in Gibraltar is required to contain a direct link to an organisation dedicated to assisting problem gamblers.

"A licence holder must "designate a named person to be responsible for formulating responsible gambling policies, " says the law, which adds that persons must be warned that they should not gamble beyond their means.

A gambling website must display the full name of the licence holder and the address from which he carries on business, and avoid advertising which is "false, deceptive or misleading."

In an effort to curb any money laundering, the new law stipulates that if there is suspicion of money laundering, the licence holder is given 24 hours to inform the Gambling Commissioner.

Enforcement provisions, and the appointment of investigators, is also a feature of the new rules.

A Gibraltar Government spokesman said that the gambling ordinance provides a modern legislative framework for the licensing and regulation of Gibraltar's gambling industry. "This will ensure that Gibraltar remains the world's foremost reputable jurisdiction for virtual and online gambling," said the spokesman.

Source: Panorama