How Gibraltar Tremendously Increased Its Client Base - Their Secret Formula Revealed

 It is a known fact that the online gambling businesses during its early days were generally unregulated. This means that online casinos did not have to adhere to a regulating body to run their affairs, and therefore could do whatever would please them without having to fear for any punitive actions from any authorities. Those days, the world had witnessed the shocking rate at which rogue gaming sites bent on ripping the unsuspecting gamblers have proliferated in the internet.

But the situation today has improved a little bit. The principled e-gaming operators had found that it was bad business if they continued to be unregulated, and so they submitted themselves to licensing bodies to legitimize their online presence. In answer to their needs a few places have offered their services, and one such place is Gibraltar.

Gibraltar is a self-governing British overseas territory located at the southernmost tip of Europe, sharing territorial boarder with Spain to its north and overlooking the Strait of Gibraltar to the south. Gibraltar is a very small place as it only has about 7 square kilometers of habitable land and a population of less than 30,000. Yet the place boasts a very long and rich history before it. English is the official language though most locals also speak Spanish. Gibraltar is also known as "The Rock" rightly because of a very big rock on its midst that has become its pride and tourist attraction. The place is a popular stop point for ships passing the Strait of Gibraltar, one of the busiest shipping lanes in the world.

Though Gibraltar is geographically a part of Spain, the place is a territory of Britain, its head of state being Queen Elizabeth II represented by the Governor of Gibraltar. The Governor is the ceremonial representative of the head of state and not involved in the daily administration of Gibraltar. The Governor officially appoints the Chief Minister and government ministers, the people that run its affairs, after an election. The UK retains responsibility for defense, and foreign relations. Gibraltar has an extensive service-based economy, dominated by financial services and tourism. As one of the more than 200 British territories, Gibraltar ranks as among at the top in terms of stability and prosperity.

Gibraltar began offering license to online gaming sites in 1998. Today it boasts a number of reputable bookmakers sports books, online casinos, and betting exchanges on its roll. As host to online gambling, Gibraltar is known for its very stringent requirements. This is Gibraltar's secret formula how it was able to increase tremendously its clients base. Foreign companies applying for a license have to undergo a rigorous process and only those who passed are given the license. Among others, the applicant has to prove it has doubtless reputation, an untainted tract record, and a realistic business plan.