The Isle of Man is between Great Britain and Ireland in the Irish Sea. The state is a "Crown Estate of the British Crown". It is not incorporated into Great Britain, but it provides military protection and has the right to enact some legislation. The Isle of Man is home to the oldest parliament in the world - Tynwald.
The state's territory is one of the largest offshore centers in Europe, contributing to the island's economy and prosperity. In addition, the government uses other methods to attract investment into the economy and popularize its territory. For example, subsidies are provided to film companies making feature films on the island. More than 100 films have been produced under this scheme so far.
The official website's "license holders" section contains a full list of online casinos with Isle of Man licenses.
Due to the small size of the island (51 km long and just over 21 km wide), the main income of the state has become Insurance and Internet gambling, which bring 17% of GNP, followed by information and communication technologies and banking services, which bring 9% and 9%, respectively.
Naturally, the jurisdiction did not become a center of gambling licensing at one point. Significant work was done beforehand to make the Isle of Man attractive to foreign companies. It developed special taxation, taking into account the experience of other states. All this allowed it to create a favorable atmosphere for various business areas.
For example, the gambling industry showed record growth results in 2013. Overall growth exceeded 210%.The sole regulator on the island is the Gambling Supervision Commission. It regulates and supervises the industry, develops additions to the basic legislation, and licenses gambling companies. There are four types of gambling licenses:
The Isle of Man Gambling Supervisory Commission was established in 1962 to regulate all gambling activities on the island. However, the development of the gambling industry, particularly the ability to gamble on the Internet, required change. The regulator was one of the first to respond to modern trends.
The main law, "Regulation of Gambling on the Internet," was adopted in 2001. Since then, many well-known operators have received Isle of Man gambling licenses. In 2009, the first license for live dealer games was issued.
The Gambling Supervision Commission is the main and only regulator of the industry in the Isle of Man. Its responsibilities are extensive and include licensing companies, compliance oversight, and social responsibility. To better understand the Commission's work, let's familiarize ourselves with the basic principles behind it.
The Commission's basic principles:
It's worth noting that the regulator has much experience in the gambling industry. The legislation is constantly being finalized and supplemented, done to facilitate operators' work and increase their comfort and transparency. For example, in 2019, a new type of license was introduced, facilitating the integration of games from gaming software manufacturers. Also, comprehensive information on any issue concerning players or operators can be found on the official website of the licensee.
Of course, we should not forget that the Commission imposes quite strict requirements for the work and licensing of online casinos. This is what gives the Isle of Man gambling license a good reputation and the trust of players.
To obtain an Isle of Man gambling license, the following conditions must be met:
After providing all documentation, a thorough review is conducted, which lasts an average of a couple of months. The lengthy review period is due to several factors: the commission meets once a month and the need to check the company thoroughly.
The company is also required to pay an administration fee of £5,000 with the initial application (network services, full or sub-license)
If a positive decision is made to grant a license, the company will be required to pay annual fees:
Of course, the operator must comply with the license rules (e.g., protect players' data and funds and implement protections for gambling addicts).
The Isle of Man Jurisdiction is well aware of gambling industry trends and adapts its legislation to the needs of gambling companies. It has a low taxation system, quite reasonable licensing costs, and, most importantly, a high reputation. At the same time, everything is done in such a way that it maximizes players' interests and provides them with a high level of security.
The Gambling Supervision Commission's high standards certainly credit the local parliament. However, according to Casinoz, the UK Commission has greatly influenced shaping its standards, and that's undoubtedly a good thing.
Gambling is regulated by the Isle of Man Gambling Supervision Commission (GSC).
The Isle of Man regulates a wide range of gambling activities, including online casinos, sports betting, poker, bingo, lotteries, and land-based casinos and betting shops.
The main legislation is the Online Gambling Regulation Act 2001, supplemented by various regulations and directives.
The process of obtaining a license involves submitting a detailed application to the GSC, vetting the company and its management, and assessing its financial stability and technical capabilities. The process typically takes 10 to 12 weeks.
Operators must adhere to strict standards of fair play, player protection, anti-money laundering and anti-terrorist financing. They must also undergo regular audits and maintain a certain level of financial reserves.
Operators are required to implement self-exclusion tools, set deposit and betting limits, provide information on the risks of gambling and provide access to problem gambling assistance resources.
Gambling advertising must be socially responsible, not misleading and not target minors or vulnerable individuals. The GSC provides detailed guidelines on marketing and advertising.
GSC actively cooperates with international regulators and law enforcement agencies to combat illegal gambling. It also works to block unlicensed sites and prevent financial transactions with them.
The Isle of Man license is considered prestigious and provides access to many international markets. The jurisdiction is known for its favorable tax regime, high standards of regulation and innovative approach to new technologies.
The Isle of Man is known for its progressive approach to regulating new technologies. The jurisdiction was one of the first to develop a regulatory framework for the use of cryptocurrencies in gambling and actively supports innovation in online gambling.
Casinos number | 2 |
License types | License OGRA , Sub license OGRA , Software Supply license , Network service license |
Licensing Authority | Isle of Man Gambling Supervision Commission |
Name | Isle of man |
Site languages | English |
Website | https://www.gov.im/categories/business-and-industries/gambling-and-e-gaming/ |
Post address | Ground Floor St George's Court Myrtle Street Douglas Isle of Man IM1 1ED |