Isle of Man Rolls Out New license

Published July 28, 2011 by OCR Editor

Isle of Man Rolls Out New license

New business opportunities now available due to developments.

The government in the Isle of Man has moved quickly to capitalize on new opportunities and growth in the gaming market and recently introduced a new license under the existing Online Gambling Regulation Act 2011. Gaming operators can now apply for the authority to provide business-to-business (B2B) services to their business customers around the world and further develop their business relationships.

According to a spokesperson the introduction of this new type of license means that the Isle of Man is now able to meet the needs of every model of gaming business. This ranges from those who sell their platform capabilities to those with direct customers.

The cost of the license is reported to be 50,000 GBP per year with additional duty to be paid on retained profit.

This addition is sure to make the Isle of Man ever more attractive for gaming operators as a one stop shop and bring in fresh business to the island.

This development can also be seen in light of the Isle of Man's efforts to keep pace with technology. This jurisdiction is well known for its efforts to protect players by ensuring that their funds are safe in the hands of the online casinos and that all games are fairs.

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