Author: Anton Johan
The Isle of Man is probably best known as a tax haven, the annual venue for the
world's most famous and dangerous motorcycle race, and one of the world's
foremost online gambling jurisdictions, and if its government gets its way, it
could soon become the hottest new live gaming venue in the British Isles.
After proposed legislation to allow expanded live gaming passed its second
reading last week in the Isle of Man's Legislative Council, it is looking
increasingly likely that the island will soon be permitted to host even larger
live gaming tournaments, which will no doubt serve to bolster the island's
Authored by Treasury member Eddie Lowey, the Casino (Amendment) Bill 2012 is aimed at amending the current Casino Act 1986 and Gaming,
Betting And Lotteries Act 1988 to allow casinos licenced in the Isle of Man to
apply for temporary licences from the Gambling Supervision Commission to stage
larger limited-time land tournaments.
Live Gaming Events have a Proven Track Record
According to Lowey, if his proposed legislation is passed by the local
government, it would give the Isle of Man the perfect opportunity to reap the
benefits from offering all manner of expanded live gaming tournaments, which
historically in the island, is a gaming sector with a proven track record.
Said Lowey, 'I believe the Isle of Man would be doing itself a disservice if it
didn't participate and take advantage of its reputation as well regulated in
this area as far as gambling is concerned.'
Although currently casinos licensed in the Isle of Man are permitted to host
live tournaments, they are required to be hosted within the permanent premises
of the respective licence holder. This, many proponents of Lowey's Bill have
argued, has traditionally always limited the size of said live tournaments.
Casinos will be Allowed to Host Larger Tournaments
However, if the Casino (Amendment) Bill 2012 is passed, it will mean that
casinos will be permitted to host far larger tournaments at a wide choice of
Isle of Man venues, albeit on a temporary basis. This will also open the way for
many more online gaming operations to expand their offerings from the virtual
world to the real world.
Commented Isle of Man House of Keys MP, Bill
Henderson: 'Online gambling is one of the economy's recent success stories and
the Department of Economic Development has identified a significant and
important opportunity to capitalise on the excellent foundations that the
gambling sector had established here by allowing the staging of live gaming
'These are very high-profile events and usually attract significant comment
and coverage from the gaming community. They are typically televised and often
make celebrities of their most successful participants,' he said.
Isle of Man Online Gambling Jurisdiction
To be granted an online gambling licence in the Isle of Man, applicants must
apply to the island's Gambling Supervision Commission, and after a period of due
diligence and investigation, the Commission will decide whether to grant the
licence or not.
If granted an Isle of Man online gaming licence, operators
must pay a £35,000 annual license renewal fee, over and above 1.5 per cent tax
on their gross gaming revenues up to £20 million. The Commission also acts as an
arbitrator in the event that players registered with the island's licencees have
a dispute or issue that needs to be resolved.
Well known Isle of Man licensees include Paddy Power Holdings Limited (www.paddypower.com),
Boylesports (IOM) Ltd, Cube Ltd (www.188bet.com), Mandalay Gaming Holdings
Limited (www.xbingo.com), Rational Entertainment Enterprises Ltd (www.pokerstars.com),
and many others.
Posted by Anton Johan at 11:35 on 9 May 2012