Best Betting Sites in Gibraltar

Gibraltar is one of the first countries that issued licenses for online gambling, dating back to 1998. A milestone date for the country was 2005 when the world-famous Gibraltar Licensing Authority (GLA) was established. The Gambling Act also came into force that year and still regulates all forms of...

Gibraltar is one of the first countries that issued licenses for online gambling, dating back to 1998. A milestone date for the country was 2005 when the world-famous Gibraltar Licensing Authority (GLA) was established. The Gambling Act also came into force that year and still regulates all forms of gambling in the country.

Special amendments have been added for online betting, however, the largest part of it refers to prerequisites for licensing of betting companies. The Gambling Commissioner is the regulator under the Gibraltar Regulatory Authority (GRA), ensuring that all standards are met after a company has acquired a license.

Taxation has lately been less welcoming for operators. Compared to the 1% on turnover that used to be in force or the 5% on their GGR. That’s because, since 2015, the UK’s ‘point of consumption tax’ of 15% has been imposed on Gibraltar as well. Rising to a massive 21% in 2019.

This has been a blow to betting companies based in Gibraltar, in addition to the ‘general betting duty’ of 0.15% that they also have to pay (beyond the first 100.000 GBP) and a licensing yearly fee of 100.000 GBP. The country addressed European courts, however, the ruling was in favor of imposing the tax.