Mediterranean licensing jurisdiction to introduce new regulatory laws
Friday 23rd December 2005
The proliferation of online casinos operating from Gibraltar, a Mediterranean licensing jurisdiction, has led to the introduction of legislation that will make a statutory regulatory and licensing open framework for online gambling.
Operators of online gaming businesses are enthused about the new regulatory laws as is it provides for them, for the first time, strict guidelines by which to operate their casinos. This allows for operators to conduct business without fear of transgressing the law, which currently is rather murky.
Players at Gibraltar’s casinos will also look forward to the new legislation’s introduction as it provides for them added security and accountability when playing online.
The move by Gibraltar will help the jurisdiction twofold. Firstly, it must be applauded for the move toward accountability and reputable operating, which will help the online gaming industry as a whole. Secondly, new or existing operators may now be swayed to put their money in Gibraltar rather than other unregulated jurisdictions.
The proliferation of online casinos operating from Gibraltar, a Mediterranean licensing jurisdiction, has led to the introduction of legislation that will make a statutory regulatory and licensing open framework for online gambling.