Isle of Man licence applications up 30% in 2020
The Government’s digital department noted an increased number of businesses have been making initial enquiries about the jurisdiction, with service providers on the island reporting a significant uptick in interest over the last 12 months.
A 30% increase in demand for gaming licences sees the number of licensees to be supervised by the Gambling Supervision Commission now at 55, with others in the pipeline.
There has been an increase of 21 licensees in the last 12 months, compared to just 8 licence approvals in 2019.
“We are exceptionally busy at the minute processing a significant rise in the number of applications for online gambling operators,” said Steve Brennan, chief executive of the Isle of Man Gambling Supervision Commission.
“Over the last 10 months, we have received or completed a considerable number of applications. By the time we have closed those out and added recent applications, we will have 60 licences to supervise.”
Jade Zorab, director of compliance consultancy Amber Gaming, which is based on the Isle of Man, added that the efficiency of the island’s regulator was a positive during a time of uncertainty.
“The future outlook is positive and it is no surprise that the Isle of Man is experiencing an influx of eGaming ventures, which we are proud to support,” Zorab said.
Recent Isle of Man licensees include 5Dimes, which received a licence as part of a pivot towards jurisdictions where online gambling is legal.