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The Isle Of Man is a small island situated halfway between Ireland and Great Britain. In the year 2001, the Isle Of Man started providing gaming operators from across the globe with licenses, via the Isle of Man’s Gambling Supervision Commission.
Though the Gambling Supervisions Commission was established well before 2001 having been set up in 1962. In 2012 the Isle of Man went into partnership with one of the world’s biggest gaming licensing organisations, the Malta LGA.
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What types of gaming licenses does the Isle Of Man jurisdiction provide?
The Isle Of Man jurisdiction offers several licenses to the likes of sportsbooks, poker rooms, casino website and e-gaming sites. It should be noted that the process of acquiring a licence through the Isle Of Man jurisdiction is considered to be easier than acquiring a license through other jurisdictions. This is principally due to the fact, licenses can be obtained more easily through the Isle Of Man jurisdiction.
What are the requirements for an application?
In the first instance, a gaming operating wanting a license must fill out several forms, which will include information related to the applicant’s identity and to check the applicant does not have a criminal record. This documentation will also analyse the applicant’s financial situation to ensure it is in a stable financial position.
Providing the Committee reviewing the application approves the application for a license, the license can be acquired by the gaming operator once the necessary licensing fees have been paid. A complete gaming license from the Isle Of Man jurisdiction costs £35,000 annually. Operators are also required to pay between 1 percent and 1.5 percent of the company’s gross profit.
Audits
For the Isle Of Man jurisdiction to issue a gaming license the operator must adhere to the condition, terms and standards set out by the Gambling Supervision Commission. The Commission ensures this condition is met by making routine inspections of casino operator’s records. If any evidence of foul play, such as not making payments, fraud, insufficient funding and other license agreement breaches, the Commission is within its rights to revoke the gaming license from the operator.
Obtaining a license from the Isle Of Man jurisdiction proves that the gaming operator is a safe site for players to deposit money into, play the games and make bets. In order to protect the reputation the Isle Of Man jurisdiction has built up of being a reputable and credit gaming licensing entity, the Gambling Supervision Commission has a full list of the sites that holds a license with the Isle Of Man jurisdiction.
Resolving disputes
If players have a complaint or issue with a gaming site that holds an Isle Of Man jurisdiction license, a dispute resolution service is available to help players resolve any grievances they may have. Though it is important to note that the majority of complaints are typically resolved without the players needing to use this service. Contacting the specific casino or a third party is usually sufficient in resolving disputes.