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Supervision Commission of Isle of Man introduces new license

The Isle of Man online gambling jurisdiction encourages B2B relationships.

The news made public by the online gambling jurisdiction is not given enough importance, as they are thought to have a later impact. However, this news should be taken into consideration because they reflect the real direction that online gambling is going. Recently, an important announcement has been made by the Isle of Man, a leading jurisdiction for online gambling. The Gambling Supervision Commission of Isle of Man has issued a new class of B2B license, by the name of Network Services License, regulated by the Online Gambling Regulation Act 2001. Over the past few years the business-to-business relationships between gaming operators have considerably developed, therefore this specific license has been introduced. The license will allow the Isle of Man based online gaming operators to offer their online platforms to customers around the world.

Operators will have to pay £50,000 every year plus £5,000 for every overseas client, for this license. There is also a maximum 1.5% fee applied to the retained profit.  The purpose of the B2B license is to attract larger business to the Isle of Man and to increase business opportunities for the existing operators.

According to the head of online gaming development at the Isle of Man government, Garth Kimber, the jurisdiction can now support every model of online gambling business. The licensing system now contains the Network Service License, for those operators that wish to offer their platforms to other business, and the Standard License and Sub-License for the operators who deal with direct customers. The level of license depends on the type of business-to-business relationships that companies are aiming for. The Gambling Supervision Commission is keeping up with the dynamism of the business without complicating the licensing policy. This way, gaming operators receive financial support through the Department of Economic Development. The Online gambling development team of the government is already promoting the B2B license, talking to potential interested parties. The key points of the regulation will remain a priority, such as protecting the operators.

 

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