If you’re working in online gambling or considering entering the sector, the Isle of Man is a jurisdiction that should be at the forefront of your mind. The Isle of Man is a small island situated between the UK and Ireland has become a key player in the online gambling sphere. In this article, we drill down on why it’s such an attractive place to establish an online gambling business.
Supportive Government
In 2001, the Isle of Man was already drafting legislation for online gambling, making sure it was a safe and viable place for this industry to grow and prosper. The Isle of Man Government has continuously updated its legislation in line with the industry’s evolution so that businesses and players continue to be protected. The Isle of Man Government takes player protection seriously, working hard to ensure the online gambling environment is safe, fair and responsible. Specifically, the Gambling Supervision Commission upholds principles to keep the industry crime-free and protect the young and vulnerable. There are truly few better environments to build a prosperous and reputable enterprise.
It’s not all about laws and regulations – the Isle of Man Government wants to see online gambling businesses successfully grow. There is a dedicated team within the Government’s Department for Enterprise focused on providing hands-on support to companies and individuals wishing to conduct gambling business on the island. It’s a level of Governmental support that’s not always easy to find elsewhere in other gambling jurisdictions.
Reliable Infrastructure
For online gambling businesses, downtime is the enemy. The Isle of Man Government and the private sector have invested heavily in its tech infrastructure which allows gambling businesses to have the reliable, high-speed internet and data services they require to maintain maximum uptime for their operations. The Island boasts six world-class data centres served by six under-sea cables with direct links to Europe and the USA.
In addition, finding the right people and service providers to support your business is critical, and the Isle of Man with its solid base of professionals is now viewed as a centre of excellence. This means access to a workforce that can help you hit the ground running.
Further Advantages
The tax benefits are favourable for online gambling businesses. The Isle of Man offers competitive rates, 0% corporation tax, no capital gains tax and low gambling duties. This can significantly reduce financial pressures and help your bottom line.
The Isle of Man offers a variety of gambling licences, with licences being valid for five years. Licences include a full licence, sub-licence, network services licence and software licence, making it easier to find one that fits your specific needs.
The process is thorough, which helps maintain the industry’s integrity and ensures that players can trust who and where they’re spending their money.
Growth on the Isle of Man
In tandem with growth comes opportunity. The numbers speak for themselves. With a significant increase in eGaming licences over the past five years, the Isle of Man is outpacing global trends, signalling a thriving environment for online gambling businesses.
Final Thoughts
The Isle of Man offers a balanced mix of benefits for online gambling businesses. The blend of forward-thinking regulations, a truly supportive government, financial advantages, flexible licensing and a commitment to regulatory safety makes it an attractive location.
Whether you’re already in the gambling space or considering starting up, the Isle of Man could just be the launchpad you need.
Please visit our website at https://quadrant.global/egaming/
If you wish to speak to one of our team, please email Tim Cox, Director of Quadrant Gaming, at [email protected]