The Isle of Man is one of the British Isles and has a reputation for being home of gambling for many operators and software providers in the UK and Europe.
Perhaps the most famous is Microgaming, one of the oldest established operators and developers of casino games.
However, the self governing British Isle, located between the UK and Ireland, has recently experienced an influx of companies seeking gambling licenses within the region.
So far this year, there has been an approximate increase of thirty percent and the Chief Executive of The Isle of Man Gambling Supervision Commission Steven Brennan confirmed that they are very busy at the moment processing applications for online gambling.
There are a number of companies that have already been approved and hold a license to operate a number of services, including software supply, full license and network services.
Surge during pandemic
According to reports, the number of licenses for gambling, including online gambling, is more than fifty, over twenty of these are from the past year alone.
The reason behind the increased demand remains unclear, but it is believed that the isle’s Covid-19 measures and precautions have contributed.
Additionally, the Isle of Man Gambling Supervision Commission continued to work through the pandemic when many organisations shuttered.
Within this time, a number of applications were submitted, processed and approved for operation.
The Isle of Man currently has a strong reputation for its gaming operations, particularly responsible gambling and player protection, which may be another contributing factor to demand.
Out of all the licenses currently active, only one venue holds a casino license. The Palace Hotel and Casino is a Best Western property and hosts a variety of casino games for players, including roulette, blackjack and casino brag. The casino is situated on the first floor of the hotel property.
This means that the majority of recent license applications have been in relation to online gambling only, including software development of casino games and video slots.
The Isle of Man provides a flexible licensing program and the region is known for being a stable environment both politically and economically.
In addition, the low tax laws and advanced IT infrastructure make the isle an attractive prospect for any serious gaming corporation.
Chief Executive of The Isle of Man Gambling Supervision Commission Steve Brennan commented on the increased demand:
We are exceptionally busy at the minute processing a significant rise in the number of applications for online gambling operators.
We continued to work throughout lock-down, and over the last 10 months, we have received or completed a considerable number of applications.
By the time we have closed those out and added recent applications, we will have 60 licences to supervise.
Director of Amber Gaming Jade Zorab also shared comments on why gambling companies are choosing the British Isle:
The Isle of Man has proven to be at the forefront of the more notable eGaming jurisdictions over the years.
It has a combination of a stable political and economic environment, low tax and advanced IT infrastructure in addition to a cluster of experienced and reliable professional organisations – all of which has created a compelling proposition for eGaming companies both locally and further afield.
The Island also offers a flexible licensing regime with a pragmatic and efficient regulator, which is especially valuable during a time where there is so much global uncertainty and regulatory changes in several other jurisdictions which brings the prospect of significant operational challenges.
Given the Island’s strong reputation and open and innovative approach in the evolving gaming landscape, the future outlook is positive and it is no surprise that the Isle of Man is experiencing an influx of eGaming ventures, which we are proud to support.