Isle Of Man To Extend Live Gaming

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 economy.

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 tournaments.'

'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.