What is the GSC Isle of Man Supervision Authority?
The Isle of Man is an internally-governing Dependency of the British crown between England and Ireland. It is known for its picturesque landscape, medieval architecture, and strong yet diverse low-tax economy. Nonetheless, the Isle of Man is independent of British laws and has its separate parliament, gambling regulatory body, and legislation. The island is a primary jurisdiction for the administration, location, and regulation of the online gambling industry.
The Gambling Supervision Commission–Isle of Man’s gambling control body–was founded in 1962 as an independent land-based gambling operation regulator. With the advent of online gambling, the Commission became one of the first jurisdictions to regulate online gambling activity when it formed the Online Gambling Regulation Act 2001. The Online Gambling Regulation act aims to protect players and support casino operators online.
With the Act’s introduction, the Commission began issuing gambling licenses to online gambling platforms that met their requirements. The Isle of Man Gambling Supervision Commission licenses some of the most prominent names in online gambling.
Although the region openly welcomes the gambling industry, the Commission’s standards have become stricter over time, primarily due to increased advocacy for responsible and fair gambling. Simultaneously, the more stringent the regulatory requirements and guidelines are, the more credible the licensee’s reputation is in the face of the gambling community and the gamblers.
What does the GSC Isle of Man Supervision Authority do?
As mentioned, the Isle of Man Gambling Supervision Commission regulates the Isle of Man’s gambling industry. Under the guidance of the Isle of Man Government, the commission has helped develop and bring both the conventional land-based gambling and online gambling industry to its current state in the country.
Even as the Gambling Supervision Commission sees a 30% annual increase in licensed gambling operators, it is also combatting a growing number of unlicensed imitators.
Such regulations are under the Commission’s objectives of protecting minors and those at risk, ascertaining that the gambling industry is free from crime and adheres fully to Financing of Terrorism and Prevention of Money Laundering guidelines and Know Your Customer codes. The Commission also ensures that the services offered by its licensees are fair and that players will be receiving the true amount of money won.
Ultimately, the authority promotes gaming business success in the Isle of Man. It also endorses crime-free gambling, minor safety, and fair gaming services.
The commission held its 2022 Isle of Man Economic Crime & Compliance Forum in October, inviting a range of leading experts to speak on the latest economic updates from cybercrime and fraud to corporate offenses at the corporate level and sanctions. The guest speakers also shared practical insights on further enhancing the ability to help detect and prevent economic crime.
In February 2017, the Commission included loot boxes under its gambling regulations under the condition that loot boxes involve an element of chance and digital items classify as a prize in “money’s worth,” despite not being convertible into cash. Therefore, companies providing loot boxes on the Isle of Man framework must have a gambling license.
How does the GSC work with other associations and regulators?
The Isle of Man Gambling Supervision Commission and Malta’s Lotteries and Gaming Authority (LGA) entered into an MoU (Memorandum of Understanding) in September 2012. The main goal of entering into the MoU was for the two jurisdictions to identify the common values in their remote gaming regulation to ensure player protection and public order, among other things. Another objective was to regulate to ensure the secure, fair, and responsible provision of gambling services, executed through comprehensive systems and monitoring. Both jurisdictions aimed to develop common responsible gambling measures and improve player protection, including protecting minors and vulnerable individuals.
What impact does the GSC have on the European gambling landscape (regulators, sportsbooks, etc.) in the United Kingdom?
The Isle of Man Gambling Supervision Commission is among the world’s oldest regulatory bodies still relevant today. The Commission licenses and regulates all land-based and online gaming operations on the island regardless of where the player base is.
Licenses from the commission are highly regarded across the gambling industry, symbolizing a stringent, transparent gaming body. Due to the Commission’s comparable standards of safety and fairness, the IOM license is also whitelisted by the UKGC, allowing licensees to advertise their services on UK territory.
How to comply with Online Gambling regulations.
Who are the members of the GSC?
GSC licensees include Blue Lotus Limited, Nolimit City Services Limited, Wow Entertainment Limited, Yggdrasil Gaming Isle of Man Limited, Thunder Monkey Limited, Real Time Games Holdings Limited, and more.
How to get a gambling license in the Isle Of Man in 2022
The licenses offered by the Commission include a full license, sub-license, network services license, and B2B software supplier license.
Applicants must demonstrate the credibility of their activities and services, and each company and individual linked with the application must go through legal and financial due diligence checks.
Running gambling activities in the Isle of Man without obtaining proper licensing from the Gambling Commission Supervision is a significant offense. Such offenders are liable to face severe penalties established under the Online Gambling Regulation Act 2001 (OGRA), i.e., the main legislation regulating the region’s gambling industry.
Applicants are also required to provide the following documents:
- A detailed business plan
- Third-party RNG certificate
- Description of provided games
- Software description
- Proof of absence of a past criminal record
- ID or passport copy
- Utility bills
- Bank references
- Proof that the applicant is located in the Isle of Man
- Target audience description