Gibraltar updates gambling law to boost innovation and competition
From April 2024, Gibraltar will implement a new gambling law replacing the 2005 Act. The reform aims to create a more flexible legal framework that embraces modern technologies and crypto assets, strengthening competition with other jurisdictions.
The Gibraltar Parliament expanded the range of regulated games to include slots with hybrid paid and free mechanics. Personal responsibility for compliance has been introduced for senior management. A new licensing category called Support Services now covers IT, marketing, and CRM, and the law extends to foreign B2B companies working with Gibraltar licensees.
The licensing process has been simplified: it now requires only a local employee responsible for operational activities, while license holders must physically reside within the jurisdiction. This new law reflects Gibraltar’s effort to maintain leading standards in gambling regulation and attract innovative business models.
Gibraltar has long been a key hub for online gaming and betting due to its stable regulatory environment and favourable tax regime. With this new legislation, it aims to strengthen its global market position.
In summary, the legal reform will help Gibraltar stay competitive and adapt to the digital age by ensuring transparency and regulatory efficiency in line with technological advancements.
This move may signal to other jurisdictions the need to modernize gambling laws and could encourage new investors and partners to enter the sector.
