Gibraltar Claims to Become Online Gambling Capital

The Times' recent survey reveals that there is a certain spot on the globe which is claiming highest positions in the world of online gambling business.

This is a self-governing offshore territory of Gibraltar, located near Spain and closely related to the UK in economics, culture, and other ways.

The story of gambling and betting business in Gibraltar took its start in early 1990s. At that time, telecommunication means, like phone and fax, were taken into use to accept sports bets. Low taxation of winnings has become another and most significant Gibraltar's advantage.

An even bigger boom in the business came to Gibraltar as soon as online gambling came into existence. The territory's got the credit of a well-operated gambling area with liberal principles and low taxes.

Well-trained staff to operate online gambling in Gibraltar is highly in demand. Presently it makes up to 12 per cent of the area's labor force, yet the companies involved into the business keep recruiting young and dexterous personnel.

As soon as 2007, the Gambling Act will come into effect in the UK, giving a possibility of running online gambling businesses from Britain. However, currently Gibraltar companies don't seem to have too much of incentive to leave the beneficial land.

2006-08-19