The Gambling Supervision Commission (GSC) supervises the Isle of Man regulated gambling sector. Being one of the oldest gambling regulatory bodies, the Isle of Man Gambling Supervision Commission is responsible for all gambling activities on the territory of the self-governing British Crown dependency. In addition to the licensing and regulation of land-based gambling operators, the Commission also regulates all online gambling activities. The Commission has proven to be regulating the gambling sector in the area outstandingly. The core values of the casino licensing in the Isle of Man are to keep the gambling industry crime-free, to protect the young and the those at risk, and, most importantly, to ensure that the services offered by license holders are fair and that players receive their true winnings.
Because of the fact that the Isle of Man has an independent status, it is able to offer companies a number of incentives to move there business there, including VAT exemption, 0% corporation tax and low duty on the gross gaming yield. What is more, the Isle of Man held an AAA rating from S&P and from Moody's, which perfectly exemplifies the reliability of the authority. Generally speaking, should an online casino operator happens to hold a license from the governing body, you can rest assured that it is completely safe and secure and therefore should not worry about your personal information.
It is undoubtedly the case that there are many online casino operators out there which have a license from the Gambling Supervision Commission. One of the reasons for this to be true is the fact that the governing body is one of the oldest in the iGaming Industry. Therefore, with the rapid increase of cybercrime, it makes sense for online casinos to rely on authority with a proven history in the industry. Below you can familiarize yourself with some of the most reputable Isle of Man licensed casinos. Nevertheless, rest assured that this list is not conclusive, meaning that you can gain access to main other operators which are regulated by the Isle of Man Gambling Supervision Commission.
The Isle of Man is one of the most breathtaking bits of Europe and the British Isles. Most people are not quite aware of how unique the Isle of Man is, so we are here to provide you with some fascinating facts that will raise your eyebrows. Let us begin with the location. The Isle of Man is located between the islands of Ireland and Great Britain in the Irish Sea and has a population of approximately 80,000 people.
Many people believe that the Isle of Man is part of the UK. However, they are wrong. Actually, the Isle of Man is a Crown Dependency, which means that it is technically a possession of the Crown directly, not of the UK. Additionally, Mann has the oldest continuous Parliament around the globe, operating without a break ever since 979. For those who are into more dangerous sports activities, keep in mind that Mann is the motorcycle racing capital of the world. All in all, there are many things to explore there, regardless of its small territory so put it in your travel diary.
The Isle of Man Gambling Supervision Commission has a history dating back to 1962, this makes it one of the oldest in the iGaming Industry. What makes the casino licensing in the Isle of Man so fascinating is the fact that the authority was amongst the first places to create new legislation specifically for the online market. For instance, the Online Gambling Registration Act 2001 was crafted to draw business to the island and fully protect online casino players.
The GSC requires online gaming companies to have an OGRA license for the following: sportsbook, exchanges betting, online casino games, live dealer games, peer-to-peer gaming, mobile device wagering, fantasy sports, financial trading, pool betting, pari-mutuel wagering, networked games, lotteries, and some spot-the-ball type games.
With such a rich history, it comes as no surprise why so many online casino operators apply to be granted a license fro the authority. The industry on the territory triples in size from 2006 to 2011. Unfortunately, as a result of the financial crisis, the Isle of Man amended its gaming laws in 2010, creating the Online Gambling Exclusions Regulations. What the change did was to let operators perform non-gambling endeavors such as advertising and payment solutions. Currently, the Isle of Man is also on the UK Gambling Commission's stringent gambling jurisdiction waitlist. This means that Man-based gambling sites are allowed to advertise in the UK.
There are many positive sides of playing at a GSC regulated online casino. These range from a high level of level protection to delivering transparent gaming experience. What is more, many punters prefer to do their gambling at IOM Gamnling Supervision Commission approved establishments and it ensures that the operators are accountable for their actions.
A further point to take into consideration is the fact that the sole purpose of the Isle of Man Gambling Supervision Commission is to regulate the online gambling market by ensuring that the industry remains completely free of criminal behaviors. This will ensure that online casino players will have a more positive gaming experience as they can be sure that their personal information will be stored safely and the outcome of the games will not be manipulated.
Last but certainly not least, is the player funds separated policy of the GSC. But what does this mean? For example, everyone knows that eventually, a low-performing online casino operator will go in administration and thereby cease to trade. As you know this is not the players' fault. For that reason, to ensure that players will not lose a single penny, online gambling companies must-by-law- separate players' funds from operation funds, meaning that even if an online casino goes bankrupt, players will be able to walk away with their winnings. As a result, the Isle of Man Gambling Supervision Commission closely monitors the financial accounts of online casino operators in order to ensure that players' funds and operations funds are never mixed.
Cybercrime is one of the hottest issues currently in the iGaming Industry. For that reason, you should always play in an online casino operator which is licensed and regulated by a trustworthy authority. In terms of the Isle of Man gambling license, no one can dispute the fact that it is completely reliable. The casino licensing in the Isle of Man is unique as it implements an anti0money laundering policy.
Full AML due diligence, indemnification procedures, record keeping, internal procedures, education and training, as well as adherence to the Isle of Man Gambling Control Commissioner’s Guidance Notes for the Prevention of Money Laundering is incorporated in each online casino operator regulated by the authority. What is more, in order to be sure that the online casino is licensed by the Isle of Man Commission, make sure that its logo appears on the main page of the brand's website. This will guarantee you that the operator is not a scam and therefore completely reliable.
The first thing to keep in mind is that the Isle of Man offers high protection to all online casino operators' players. This means that if a particular online casino holds a license from the authority it has more chances of attracting a great number of punters.
Additionally, the Isle of Man offers different forms of licenses to its applications. These include online casinos, poker rooms and sportsbooks. The procedure is almost the same for each one. Most importantly, it is straightforwards in comparison to other jurisdictions, making the GSC even more attractive to new operators.
What is more, the Isle of Man Gambling Commission requires its licensees to comply with the terms and conditions of the license at all times. For that reason, the Gambling Supervision Commission regularly inspects the casino's business records.
The GSC is famous for its dedication to protecting online casino players' personal and financial information. As a result, all brands which are regulated by the Commission must be able to prove that they implement sufficient safeguards against cyber attacks. Companies that are incapable of making use of such tools will never receive a license from the Isle of Man Gambling Supervision Commission.
Besides, above we explained the player's funds separation policy of the regulator, so make sure you familiarize yourself with it. Most importantly, if regulated, the operator is held accountable for its actions. This is just a further factor indicating that casino players will have a safe and pleasant gaming experience, as the casino licensing in the Isle of Man is meticulously regulated.
Address: St. George's Court, Myrtle Street, Douglas, Isle of Man
Postcode: IM1 1ED
Phone: +44 (0)1624 694331
Fax: +44 (0)1624 694344
E-mail: [email protected]
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