The Isle Of Man Gambling Supervision Commission The Oldies Are Still Goodies
1962 is the year the Gambling Supervision Board started life on the Isle Of Man. This independent statutory board is in charge of licensing and regulating all land based gambling operations. This covers casinos amusement and slot machines, betting shops and lotteries. Set up to protect islanders that wished to gamble. The idea was to prevent crime keep the industry fair and to ensure winnings were paid out. They are also in charge of all online gambling activities. One of the earlier jurisdictions to regulate online gambling the Isle of Man promoted a strict image. The 2001 Online Gambling Regulation Act saw the first licenses issued by them and they very quickly had many on their books. The fact they had a very friendly tax burden helped win custom. Despite having such a tax friendly set up they didn’t slack on regulations. Having had a long standing in the industry they knew what they were doing when it came to regulating gambling operations. Unfortunately for them the bulk of their client list were US facing sites. 2006 was when the proverbial hit the fan and the US started prosecuting executives of online gambling operators. This led to most of the reputable online casinos and sports books to quit the industry. The Isle of Man Gambling Supervision lost a huge portion of its client list. This notwithstanding it bounced back as is still regarded as one of the best regulatory bodies there is. The biggest names on their list of licensees are actually gaming manufacturers. These companies are some of the biggest in the business, producing casino games and full software platforms for the best out there.
A Strong Reputation Well Earned
The Gambling Supervision Commission works closely with the UK Gambling Commission. The unique relationship between the Isle Of Man and the UK has fostered cooperation at many levels. In the gambling world both states have a huge amount of experience. The tiny island state has actually got the stronger position when it comes to e-Gaming. It was after all a Manx company that made the whole online casino industry possible. The work that the GSC has put into making the industry a safe place for players is highly commendable. They have one of the highest player ratings as far as regulatory bodies go. Player forums have many posts commending the Commission they are very accessible and respond quickly to inquiries.
What Do They Cover?
Some of the areas the Commission is responsible for include both licensing and regulation of gaming operators and software providers. They provide consultation and cooperate fully with all of the application process. The Commission ensures that all operators have the correct systems and protections in place for player’s funds. All money held by the operator and any in the withdraw process must be secure and it is enforced by law. The Commission has its own list of approved testing laboratories. These are used to test the randomness of the games and the claimed payout levels. Any operator wishing to be licensed by the Isle Of Man GSC must submit all of its games for testing at one of the approved labs from the list. They will receive certification that should be displayed on the website. These can all be independently verified as part of a players due diligence. One area where the Commission has received a lot of praise for is its monitoring of licensees. The Commission keeps a close eye on its licensed operators. Everything about the companies is under scrutiny including all of it marketing activities. Fair play and legal compliance is closely monitored any infringements of the law or license regulations are immediately dealt with. All complaints from players are investigated and were necessary enforcement is used.
Strong Ties With But Not The Same As The UK
The Isle of Man is what is known as a British Crown Dependency. This means they have their own laws and government. The licensing parameters and the laws surrounding gambling are not quite the same as in the UK but there are very strict. The fact that they are so strict means that the Isle of Man is on the UK Gambling Commissions ‘whitelist’ meaning than their services can be advertised in the UK. This is a rubber stamp confirming the Isle of Man GSC meets the UK’s requirements for fairness, openness and security of all its licensed operators. Some of the biggest names in online gaming hold a license with the Isle of Man. These include Pokerstars, Full Tilt, etc. under the Rational Entertainment Enterprises Ltd banner, all of the multitude of sites under the Cozy Games Management Ltd name. Not to mention several gaming software producers. The Isle of Man doesn’t have anywhere near as many casinos on its books as it used to. It is rebuilding its list slowly it has always had a huge number of bingo sites licensed with them. This should not in any way reflect badly on the Commission. They are one of the tightest regulatory bodies there is. They also happen to have some of the lowest tax burden certainly relative to the quality of regulation.
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Access Is Definitely Easy
Communicating with the Isle of Man GSC is as easy as a quick email. They get back to you very quickly and take all complaints very seriously. Their website is very comprehensive you can find out every aspect of the powers and regulations covered by the Commission. Regular updates to laws and associated regulations are there waiting to be read and understood. Although written in formal language they are easy to understand and there is no ambiguity. The Isle of Man has a refreshing air about its regulations. You do not need to be a lawyer to understand them. Just a firm grasp on the English language and you should know where you stand. Off course these are not airport novels but you can read them without getting a head ache.