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ONLINE GAMBLERS PROTECTED BY IOM SAFEGUARDS
10th May, 2011 at 16:04:58
Isle of Man licenced operators regulated to highest standards
As the online gambling market finds itself in the spotlight, the Isle of Man Gambling Supervision Commission reassures players that its licenced operators are regulated to the highest standards.
Economic Development Minister Allan Bell MHK said : "The Isle of Man Government policy is to provide a well regulated jurisdiction for online gambling businesses and the Isle of Man is recognised as a first class jurisdiction for remote gambling. In pursuit of this policy the Isle of Man offers the strongest possible consumer protection to players, whether they live in the Island, in the UK, or further afield, by requiring that player monies be held separately from a company's assets in separate bank accounts protected by law unlike in other jurisdictions - through trust arrangements or bank guarantees."
The commission has assured that all its operators are complying with the mandatory licensing requirements which include the keeping of players' deposits and winnings separate from the funds used by the operator to conduct its business.
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