The Channel Island of Jersey has become the latest online gambling licensing
jurisdiction, which is set to help dramatically boost local economy. Located in
Western Europe, and less than 20 miles northwest of France in the English
Channel, Jersey remains a British crown dependency.
The island is already regarded as a tax haven and the newly passed licensing
legislation will inevitably generate millions more pounds worth of revenue. This
accurate prediction of growth is forecast to continue and allow the islands
economic situation to really prosper. Since a landslide victory was passed by
the parliament (Jersey parliament members), which saw a 43 to 4 vote in favour,
the new jurisdiction powers became operational less than fourteen days after the
"The intentions are to benefit from the considerable economic advantages of
having e-gaming," said government minister Andy Mclean. He went on to add, "It
was worth about £50 million to the Guernsey economy in 2009, which had increased
from 2007 when it was about £7 million.
Similar to The Isle of Man, companies will have to fork out approximately
£35,000 annually to keep hold of the license. If the gross income rises above £1
million, this flat fee will automatically rise to over £70,000 for the same time
period (one year). When these figures climb to over £6.5 million, companies will
then be required to foot a bill of £140,000. This is also for a 12 month period.
The island jurisdiction was at one point limited to predominantly gambling
(betting) offices, but with the relatively new legislation, it means that
locally based online casinos and other e-gaming industries now have the legal
backing and full approval to operate, providing these companies pass the initial
Delegates of the Gaming Regulators European Forum (GREF), which was founded
just over twenty years ago visited the Island to discuss policy with the Jersey
government Minister for Economic Development covering issues such as gaming
matters and to voice the various views held by other European Gaming Regulators.
Jersey was chosen as the location for the prestigious yearly event held by the
group of gambling regulators.
This new jurisdiction provides strict guidelines for would-be applicants,
holds social responsibility to ensure that rogue operators cannot damage any
reputation that the island upholds, and aims to provide a safe, secure, and fair
environment for consumers. Rigorous high standards and thorough checks intend to
facilitate and maintain tough regulation throughout the entire licensing