Most of the income generated in the European nations comes from the country’s online gambling sites. Gambling is one of the major sources of revenue in the first world countries. As such, there was need for an independent body that would be involved in the regulation of gambling activities especially for online businesses. Some countries in the Europe have limited lands and spaces to put up feasible businesses and other income generating activities. Business people have embraced online gaming platforms as means of income generation. Players or the consumers on the other hand want to put their money in legit sites that have a licensing. This has encouraged the need for licensing from legit authorities so that operators can carry out online gaming. It is a requirement that the operators obtain the licenses for them to be able to entice players from the European union, this is the point where the Gibraltar Gaming Association was founded.
If you have observed the European Union gambling market keenly, you will note that there are several Licensing Authorities. The Licensing authorities offer operation licenses to online gaming operators. A few examples of the jurisdictions include Alderney, Isle of Man, Malta and our topic of discussion; Gibraltar. Gibraltar has slowly risen to become one of the most popular regulatory authorities with major gambling companies receiving licenses form this Authority. Gibraltar Gaming Association is referred in other terms to as Gibraltar Betting and Gaming Association (GBGA) acting as the forerunner for all the gambling companies in Europe. It is worth noting that the GBGA is an associate and a member of the European Gaming and Betting Association.
Roles of the GBGA
The Gibraltar Gaming Association has been performing online gaming regulatory operation in the Europe dating back to the year 2005. The regulatory body is funded by the licensees or the members. The members include all the gaming businesses that are licensed by the Association in Gibraltar. Gibraltar as a country boasts of self-governance and is part of the British Crown Dependency. It is one of the active members of the European Union. The country has a licensing authority specifically for its people. The Authority is referred to as Gibraltar Licensing Authority.
Gibraltar Betting and Gaming Association was formed to act as a unifying factor for the key stakeholders in the gaming industry. The stakeholders include local and external governments, major gaming operators and bodies involved in making the industry policies. Once all the stakeholders are in unison, the Association is able to explain the online Gaming in Gibraltar and its importance in the business. The main roles and objectives of the Association include:
- To provide fair and transparent competition for licensed gaming operators in the European Union countries
- Ensure that player choices and preferences are met in the gaming platforms
- The association creates a common platform where all the issues facing the online gaming market can be addressed. These issues may include legislative and overall regulation of the market. The members are in turn required to show commitment to upholding responsible behavior and high ethical standards for the gambling market as a whole
- To ensure that the players are protected from money laundering, theft and any criminal activities
- To provide any information that may be required or may be necessary to the wellbeing of the player
Visions of the Gibraltar Gaming Association
GBGA has laid down a list of visions that they hope to achieve as they try to be the key regulators of the online gambling platforms. The visions are listed on the Association’s website. We shall have a look at them briefly below. You will also notice that within this vision are the Associations goals and objectives.
- To offer a safe, fair and competitive platform.
The Association has purposed to ensure that it provides a secure and well managed online gaming platform for all its key stakeholders. It protects its consumers by issuing them with the most competitive packages in the market.
- Ultimate global standards in the market for operators and players.
Gibraltar Gaming Association foresees an environment where all the operators work mutually with their respective governments and any other jurisdictions all over the European Union. This is also same for international platforms where they ensure that the gaming is fair and unchanging. They hope to accomplish this by offering high and strict regulations for all the partners, to ensure that the safety of the consumer is paramount, the Association vouches for togetherness of Authorities all over the world. GBGA wishes to foster information distribution to curb fraud and money laundering in the sector, funding of terrorist activities, eliminate gambling for people below age as well as any activities that are not according to law for online gaming businesses.
- Its mother country as the main center of excellence.
The Association continually promotes Gibraltar as a global center of excellence for the online gaming sites by building its roots on integrity. It believes that this is possible by allowing the services offered by gambling operators to be available all around the EU. Gaming operations should be advertised within the country as well as externally therefore creating working relations with world.
- Achieving the top position in the online gambling market.
Gaming operators in Gibraltar along with their regulation standards are believed to be the top. They top lists because of their general competitiveness for quality services and focus on customer safety as defined by the regulations of the Association.
- Achieving best online gaming practices
To be a global model that can looked up to, the Association has put up high standards as well as exacting its regulations. Above all, the Association is committed to ensuring the players are getting the best experiences from the gaming activities. It also fosters a sense of social responsibility amongst its members in the industry.
Gibraltar Betting and Gaming Association was previously referred to as the Gibraltar Regulatory Authority. It is one of the few trusted casino certifications in the online gaming industry. It was created to act as an advocate for online licensees in Gibraltar when it came to legal matters as well as the regulation of the industry.