Affiliates have been concerned about how gambling in Gibraltar will be impacted by Brexit, but industry experts feel confident that the territory’s market will continue to prosper despite this setback.
A growing and thriving market for gambling
Gibraltar is currently home to lots of gaming and sports betting operators. It was recently the subject of 11th-hour deal between Spanish and British authorities, who were discussing its future following on from the UK’s departure from the European Union.
Resultantly, the territory could end up joining the Schengen Area – a zone which spans 26 countries and where freedom of movement is guaranteed. CasinoBeats discussed what this could mean with Andrew Lyman, the Executive Director of the territory’s gambling division.
Lyman was confident that the market would “grow and thrive” despite Brexit, citing the Schengen Area as being key to this. The zone allows the “continued shared prosperity between Gibraltar and the ‘campo’ in which some 15,000 workers live in Spain, but work in Gibraltar.”
Things are looking optimistic for the future
Lyman also pointed out that the territory has a robust gambling market, which “has been changing and evolving since 2014 and has sustained despite legal changes in the UK and elsewhere.” This is mainly thanks to its “small jurisdiction [which] can be agile in its approach.”
He concluded by saying: “Gibraltar is not going to reduce its attractiveness to business whilst at the same time remaining a jurisdiction which commands international respect and full UK support. It also wants to continue to build a close relationship with the EU. I am very optimistic for the future.”
As such, iGaming affiliates need not worry too much about their holdings in this British/Spanish territory. In fact, now might be a good time to invest in its gambling market.