Isle of Man Gambling Supervision Commission · Overview
The Isle of Man Gambling Supervision Commission if one of the oldest gambling authorities. With its start in 1962, the mission was to protect affairs of the gamblers in the Island, and making sure that all players receive whatever they win. This made the Isle of Man Supervision Commission quite famous, and for that matter made a reputation as a rather tax-friendly jurisdiction. It was the first authority to regulate e-gaming, especially with the Online Gambling Regulation Act of 2001 (OGRA). Now, it oversees almost all forms of gambling in its territory. This will include land base (casino, amusement and slot machines, betting offices and lotteries) and online gambling services. In addition, in 2009, the Isle Commission issued the first live dealer license for an online casino. Furthermore, The Commission provides several additional services. These include monitoring, investigation, testing, protection of player’s funds and guidance in all gambling stages/spheres.
Isle of Man Gambling Supervision Commission · Jurisdiction
This Gaming Commission oversees all gaming that occurs in the territory of Isle of Man. The waiting period to get the license is quite decent, between 10 and 12 weeks. Furthermore, the commission regulates all of the following:
- Land Base Gambling Operations
- Online Betting/Gambling Activities
In order to apply for a IMGSC license, you need to complete an application form. In addition, you must pay a statutory application fee which will be then forwarded to the Inspectorate. Upon successfully receiving and approving the licenses, the IMGSC will have your licenses between 10 and 12 weeks. The mandatory application fee is £5000, while the tax-rate income is 0%. Note that the current VAT rate is 20%. Bellow you can see the annual rates for a 5 year OGRA license:
- £50,000 – network services license; token-based software supplier license
- £35,000 – standard license
- £5,000 – sub-license
