We explore two possible scenarios to explain the observed gamma-ray emission associated with the atypical globular cluster Omega-Centauri: emission from millisecond pulsars (MSP) and dark matter (DM) annihilation. In the first case the total number of MSPs needed to produce the gamma-ray flux is compatible with the known (but not confirmed) MSP candidates observed in X-rays. A DM interpretation is motivated by the possibility of Omega-Centauri being the remnant core of an ancient dwarf galaxy hosting a surviving DM component. At least two annihilation channels, light quarks and muons, can plausibly produce the observed gama-ray spectrum. We outline constraints on the parameter space of DM mass versus the product of the pair-annihilation cross section and integrated squared DM density (the so-called J-factor). We translate upper limits on the dark matter content of Omega-Centauri into lower limits on the annihilation cross section. This shows s-wave annihilation into muons to be inconsistent with CMB observations, while a small window for annihilation into light quarks is allowed. Further analysis of Omega-Centauris internal kinematics, and/or additional information on the resident MSP population will yield much stronger constraints and shed light about the origin of this otherwise mysterious gamma-ray source.