NEW B2B E-GAMING LICENCE LAUNCHED IN ISLE OF MAN
21st July, 2011 at 05:35:03
Isle of Man Government launches new Network Services Licence.
The Isle of Man online gambling jurisdiction has introduced a new class of B2B licence.
The Network Services Licence is a new level of licence available under the existing Online Gambling Regulation Act 2001 (OGRA) and is designed to recognise the business-to-business relationships that many gaming operators now have.
The licence gives Isle of Man based gaming operations the opportunity to make their platforms available to business customers around the world.
The cost of the new licence is £ 50,000 per year plus £ 5,000 per overseas customer. Duty will be paid on retained profit at a maximum rate of 1.5 percent, a spokesman revealed this week.
It is anticipated that this new business model will not only attract new and larger businesses into the Isle of Man but will also increase opportunities for those businesses already based on the Island to develop relationships with companies across the globe.
The government's e-Gaming Development Team is already talking to a number of interested parties, the spokesman revealed.
Commenting on the launch, Garth Kimber, head of e-gaming development at the Isle of Man government said: The introduction of this level of licence gives us the ability to satisfy every model of gaming business in the Isle of Man from those selling their platform capabilities to other businesses to those with direct customers. Our system is now in three tiers; Network Services Licence, Standard Licence and Sub-Licence.
"The level of licence required is dictated by the type of business-to-business relationships a company intends to pursue and covers all gaming activities from sportsbook to poker and involves the same application process.
The creation of this new licence demonstrates our ability to keep pace with the dynamism of the e-gaming industry without over complicating licensing. There remain many activities such as software downloads and marketing for example, which can be carried out without the need for a licence as we are focussed on the key issues of regulation, protecting players by ensuring their funds are protected and that games are fair."
Financial assistance is available for e-gaming companies creating economic value in the Isle of Man through the Department of Economic Development.
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