Isle of man

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.

Isle of man Casinos

The official website's "license holders" section contains a full list of online casinos with Isle of Man licenses. 

Isle of man review

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%.

1. The main OGRA license is the Isle of Man's basic or full license. Holders of such licenses can open online casinos and issue sub-licenses, subject to the authorization of the Gambling Supervision Commission. The number of sub-licenses issued is unlimited.
2. Sublicenses under OGRA are the easiest way to obtain a Maine gaming license. This requires applying to a company that is a "full license" holder. According to the terms of granting full licenses, holders can issue sublicenses. The main condition is providing games available in the online casino holder of the full license.
3. Network services license - required by the operator if he plans to allow access to games and casino customers who are registered with the operator without an Isle of Man license. That is, while at one casino, you can play games at another operator.
4. Software Supply license - a new form of licensing introduced following the integration of provisions passed in the 2019 Gambling (Software Supply Licensing) Act, which came into force on February 22, 2019. It allows software providers to enter their products into a register maintained by the GSC Commission. Games or services listed on the register thus become available for immediate use by licensed operators in the Isle of Man without further authorization from the GSC. Software providers are not required to obtain this new license form, but its purpose is to simplify the approval of games and services.
   

Gambling history in this country

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.

Licensing authority

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:

• Protection of the player. The Regulator pays great attention to the protection of players' interests. Priority in this direction is the work with complaints from casino customers. If a player believes that his rights have been violated, he can file a complaint against the institution on the official website of the Commission. In turn, the regulator will contact the player and the casino, listen to and watch all the parties' arguments, and make an impartial decision. Given the strictness of regulations and licensing rules, in most cases, the regulator is on the player's side. Not less important is protecting personal data and money from online casino customers. The licensee obliges operators to provide their gambling establishments with the most technological ways to protect against hacker attacks. Modern encryption methods are also applied when making financial transactions. In addition, the operator must be responsible for the safety of the players' data.
• Fairness and transparency of the gaming process. Make gambling free from fraudulent activities. A fairly extensive toolkit is used to accomplish this task. Naturally, it includes measures to combat money laundering. Issuing gambling licenses only to proven companies with a good reputation. For example, a rather interesting approach to the financial aspect has been chosen. Casinos must separate operating funds and players' money. This is done so that players will not lose their funds if the company files for bankruptcy or ceases operations. The Isle of Man Gambling Supervision Commission keeps a close eye on the financial accounts of online casinos to ensure that player funds and operating funds are never commingled.

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.

Requirements for licensees

To obtain an Isle of Man gambling license, the following conditions must be met:

• Create and register a company under local law.
  
• The company must include at least two residents who are natural persons.
  
• The company must place servers on the island's territory.
  
• It is necessary to open an account in a local bank.
• Provide information about the owners and shareholders of the company.
  
• Company development plan.
  
• Financial documentation.
  
• Property documents.
  
• Preliminary working in test mode on an online casino site.

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:

• £50,000 per year for a network services license
• £35,000 per year for a full license. That is, all games must be provably fair. The company must also be involved in the development of the industry in the Isle of Man if asked to do so by the licensee, for example, participating in themed forums.

Of course, the operator must comply with the license rules (e.g., protect players' data and funds and implement protections for gambling addicts).

Conclusion

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.