Casinos with Isle of Man License
The Isle of Man is the possession of United Kingdom. It’s located in the Irish Sea at approximately the same distance from England, Ireland, Scotland and Wales. In 2001, the Isle of Man became the first jurisdiction in the world where legislation began to include the concept of gambling online.
Since then, the norms of the law have been improved in order to meet the needs of the development of online gambling business. Back in 1962 a completely independent commission was created on the Isle of Man to oversee gambling. The list of tasks of the commission includes the protection of players’ rights, what creates a positive image of the jurisdiction. Show more
Type of License
The Commission regulates and licenses casinos, slot machines, bookmakers, lotteries and online casinos that are registered on the Isle of Man. There are several requirements for the company to obtain Isle of Man license:
- Registration of the operator’s company directly in the jurisdiction;
- Presence of at least two managers. Only individuals are appointed to the position.
- The need to appoint one authorized officer – a member of the company, who is a resident of the Isle of Man. If the person does not have the possibility of living in the territory, the appointment of the Operation Manager is required.
- Registration of players must be carried out directly in the jurisdiction of the island. The possibility of conducting activities under the license of network services is allowed.
- Opening trading and gambling accounts in the banks of the Isle of Man.
The commission regularly conducts selective inspections to verify that the above conditions are met, and monitors availability on on target accounts and funds.
Checking the sites of gambling operators is conducted by independent auditors, ensuring randomness of results and fairness of the game. The commission also provides control over advertising and company policies, and accepts complaints from players.
Benefits of Isle of Man License
- GSC licenses are in the “white list”, allowing to advertise and offer services to British citizens. Indirectly this fact can serve as evidence that the government of the United Kingdom considers the quality of licenses that meet the high standards of the EU.
- A relatively low level of contributions and government fees;
- Possibility of registration of sub-licenses creating favorable conditions for the development of small business;
- Stability of the regulatory framework;
- Liberalism of British law.
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