New Online Casino Laws Passed in Gibraltar
24 December 2005
A new law has been passed by the British colony of Gibraltar, a center for a number of the world's online casinos. The law, which will create statutory licensing and a regulatory framework for Internet gambling, was created to accommodate the fifteen online casino companies situated in Gibraltar. The new law states that a ministerial-controlled Licensing Authority will be established, and that the Gibraltar Regulatory Authority will act as Gambling Commissioner.
The purpose of this change in law is to bring the 'Responsible Gambling' element to the fore. Accordingly, casino websites that hold a license in Gibraltar must be connected to an organization that provides help to problem gamblers. Online casino license holders must appoint one person who will be in charge of creating responsible gaming policies. All online casino gamblers must also be warned that they should not gamble more than their budgets allows.
Online casino websites must also feature the license-holder's full name as well as business address. Due to the fact that money laundering has become a big issue for online casinos, the law states that any suspicion of money laundering should be reported to the Gambling Commissioner by the license-holder. These new laws will help ensure that Gibraltar remains a reputable location for online casinos.
Source: Authorized Online Casinos News Staff
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