Online Casino Gambling Hits Big In Gibraltar

Wednesday August 16, 2006

Gibraltar is quickly becoming the capital of online casino gambling.

Gibraltar is a self governing territory, neighboring Spain and has very close ties with Britain.

There are over 15 online casino gambling firms based in Gibraltar, many are listed on the London Stock Market, and they employ approximately 1800 people, which are more then 12 percent of their workforce. The offshore online gambling business began in Gibraltar in 1989, and within a year, Ladbrokes and online gambling Victor Chandler Group began taking sports wagers over the phone. They offered lower tax on winnings then any other bookie in the UK.

Representative, Freddie Ballester of the territory Betting and Gaming Association says, "Gibraltar is a minute speck on the globe.

"But when it comes to online gambling it is probably the most important jurisdiction in the world."

An estimated 75 percent of online casino gambling firm workers have moved to Gibraltar from other countries specifically for jobs in the online gaming industry.

CEO of 888 Holdings Plc, John Anderson expresses his views on the appealing territory.

"The Gibraltar government wants us here and it makes it very attractive, so I can't see the online casino gambling industry moving from here," he said.

"They have a government that understands the needs of business and the tax situation means we can return more to our shareholders.